Romford accountant jailed for VAT fraud

A Romford accountant has been jailed for two and a half yrs immediately after building fraudulent VAT reimbursement promises totalling £160,000.

An investigation by HM Revenue and Customs (HMRC) revealed that Aloke Kundu, 45, created bogus paperwork for providers owned by his family members, to steal and carry out the fraud.

Kundu, an Accredited Fiscal Analyst and Member of the Institute of Public Accountants, utilised his Tax Huge Ltd accountancy practice to submit 12 fraudulent tax compensation claims.

Involving August 2016 and Oct 2017, he dishonestly reclaimed £96,000 and attempted to steal a even further £64,000 which was withheld by HMRC.

Kundu pleaded guilty to VAT fraud at Snaresbrook Crown Courtroom on January 14 and was sentenced to two and a half several years imprisonment at the exact court right now, April 1.

Steve Doyle, Assistant Director, Fraud Investigation Assistance, HMRC, stated: “Kundu, utilizing his accountancy knowledge and awareness abused the belief of the taxpayer and defrauded the nation for particular financial obtain. He should really have recognised improved and will now the confront the implications of his actions.

“Tax crime robs our crucial public companies of substantially-wanted funds. This is income that must be funding the general public providers we all rely on, these kinds of as hospitals, educational facilities and the unexpected emergency providers.

“HMRC will go on to go after the minority of criminals who attack the tax program and we check with any individual with information and facts about suspected VAT fraud to report it to HMRC on-line.”