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Friday
Sep102010

Accountant Jailed for Paying ‘Corporation Tax payments’ to Herself

Corporation Tax and the new lower rates that are coming soon have been in the news a lot recently.  But every now and then I spot a financial story that has a different angle altogether.

This was the case recently with the story of an accountant who made fake Corporation Tax payments to herself over the course of ten years.  The total payments added up to £1.3 million overall, and enabled her to fund a completely different lifestyle to the one she would have been able to afford normally.

A total of seventy five cheques were written out by the woman over the ten year period.  These were then paid into her husband’s bank account before being drawn out and used in a variety of ways.

It came to light that the company the woman worked for had a high opinion of her and thought of her as a solid worker.  This was largely why she had been able to get away with the fraud for so many years.  Her husband has already gone to jail for his lesser part in the whole fraud, as he was not aware of the full scale of what his ex-wife was doing.

The obvious issue that is brought up by this case is the need to keep a close eye on your accounts if you have other people working for you.  Audited books are a good idea and all payments should ideally be double checked to ensure the books are properly balanced.

If we can help you in any way with the financial side of your business, you can contact us here at St Matthew now to discuss tax and other issues.

 



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    Response: www.rbpa.ca/
    An aggregate of seventy five looks at were composed by the lady over the ten year period. These were then paid into her spouse's financial balance before being drawn out and utilized as a part of an assortment of ways.
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