Tax Rebates & Refunds

Tax fraud gang members have to pay £92m each

July 23, 2010
Posted in Other Tax — Written by Geoffrey

Two people who ran a tax fraud scam have been ordered by courts to repay £92.3 million each. This case is one of the biggest confiscation orders secured by the HMRC.

Shakeel Ahmad and Syed Mubarak Ahmed are currently serving time in jail for not paying tax. HMRC began its investigation in April 2002 and the whole fraud scam involved 21 members and £37.5 million.

Both Ahmad and Ahmed have to pay the money within 2 months. This tax fraud was done by manipulating the VAT system through export and import of computer processing units. The gang used a chain of VAT-registered companies in the UK.

The assistant director of the criminal investigation team of the HMRC, Richard Meadows said that, the confiscation was the largest till date. And, this was the best way for such a complicated investigation to end. He further added that the gang stole tax by investing the cash in luxury property in the UK and other countries.

If you want to apply for a tax rebate, a tax advisor can help you process the refund easily and quickly.

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