David Perrin, a former deputy managing director at Vantis Tax, has been ordered to pay back £809,692 or face a further three years in prison.
A judge at Blackfriars Crown Court has given Perrin six months to pay the money back.
In February last year the accountant was sentenced to 18 months in prison for running a £70m tax scam at Vantis. The fraud generated profits of more than £4.5m for him and his boss Roy Faichney, managing director of Vantis Tax.
Perrin’s 18 month prison sentence was referred to the Court of Appeal and was found to have been unduly lenient but, due to his health, the original sentence was not altered. The court said he should have been sent down for a minimum of seven years.
In October last year Faichney was sentenced to four years behind bars and banned from acting as a director for a decade for his part in the tax fraud.
The scheme involved using a network of finance professionals to sell shares to 600 individuals including celebrities such as Michael Parkinson and Ronnie O’Sullivan.
They then listed the companies on the Channel Islands Stock Exchange and paid people money from an offshore account to buy and sell the shares to inflate their price.
The share owners then donated 329 million shares to various unsuspecting registered charities and tried to claim £70m tax relief on a total of £213m of income and company profits.