Tax Rebates & Refunds

Yorkshire businessman jailed for tax fraud

December 17, 2012
Posted in Fraud — Written by Jennifer

A businessman from South Yorkshire has been handed a three-year prison sentence after he was found guilty of tax fraud worth £1 million.

61-year-old Gwynn Williams, formerly the director of surgical equipment company Hallmark Blades, reportedly invested money that he should have declared to HMRC in a range of projects all over the world. These included a fish farm in Singapore, a generator supply company in Iraq and a hedge fund in the U.S. and a goldmine in Utah, also in the U.S.

Mr Williams is understood to have falsified VAT tax refund claims to net himself around £1 million, which he used to make the investments. Confessing to what he’d done, the businessman said that he was hoping to help his business through hard financial times before repaying the VAT he owed.

However, he has now been sentenced to three years in prison for fraud, and has also been banned from acting as a company director for a total of seven years. HMRC assistant director for criminal investigation, Peter Hollier, commented on the case, saying:

“This was a prolonged and brazen attack on the UK tax system.

“Tax fraud is a criminal offence and Williams is now paying the price for basing his business activity on fraud.”

No Comments (Leave comment »)

No comments yet.

Comment RSS | TrackBack URL

Leave a comment