A UK-based accountant has been sentenced to 15 months in prison after lying to Special Compliance Of...
A UK-based accountant has been sentenced to 15 months in prison after lying to Special Compliance Office investigators about holding a Guernsey bank account that paid him around £100,000 in interest.
HM Revenue and Customs (HMRC) said David Greenwood of Haslemere in Surrey was charged with eight counts of defrauding the HMRC. "Investigations found that interest he was receiving from bank accounts in the Channel Islands amounting to £100,000 was not being shown on his tax returns," said the HMRC.
When interviewed by the Revenue special compliance officers, Greenwood denied owning any offshore bank accounts or investments in Guernsey. The HMRC said: "Greenwood had every opportunity to tell the truth about his bank accounts. Had he not lied to the investigator then he would not have been subject to a criminal investigation.
"The honesty and integrity of accountants is imperative. We take a very serious view of individuals who hold a position of trust and then betray that trust."
It was found that Greenwood had obtained £54,000 from the offence. Judge Bull "commented that the defendant had clearly been dishonest and had gained a financial reward at the expense of the law abiding public who pay their tax".
Judge Bull granted a confiscation order for £54,101 in addition to Greenwood receiving the 15 months' prison sentence. If he fails to pay the confiscation order then Greenwood will be imprisoned for a further 19 months. Greenwood was also ordered to pay costs of £25,000 by Judge Bull.
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