The Taxman Cometh and taketh away

1951: Father's Little Dividend - Minnelli

Remember that under self-assessment rules everyone is responsible for accurately reporting their income and capital gains or losses accurately to HMRC. The big date after Christmas is 31st January when payments need to be made to HMRC - particularly for those with self-employed income. This is both a balancing payment and a payment in advance.

One local family that will be spending time in prison this Christmas for a variety of crimes - importantly failing to declare the right income and therefore pay the right tax as well as money laundering, are the William family who have been found guilty of various financial crimes. Mr William ran a business that supplied security guards to the construction industry. The parents Isaac and Venus and their three adult daughters Maria, Sylvia and Sophie were all given prison sentences, although the daughters all had their sentences suspended and given community service orders by Kingston Crown Court for Money Laundering. One of the companies that Mr William ran was called Solomon Co-Operative Services, which obviously has nothing to do with me! The HMRC press release states that 

Isaac William failed to declare his company’s income or pay taxes of £1.1m from his business activities. The amount he owes now stands at £2.6m including interest. His wife and daughters then continued the web of deceit by laundering over £1.3m through their personal bank accounts. Their criminal activities ensured they were able to fund luxury lifestyles and further increase their wealth at the expense of the taxpayer. We will continue to pursue those involved in this type of criminal activity and bring them before the courts. We will now work to reclaim the proceeds of their crime.

It is also reported that two of his daughters worked in the banking sector (The Daily Mail suggests this to be Lloyds and Barclays) and had been trained how to spot money laundering and then used this knowledge to launder around £1.3m of income. Sadly, this man is alleged to have been a pastor and a fund raiser for the poor, running a charity called "The Great Commission Evangelical Fellowship" from Tooting, which began in 2007. However it would appear that he exploited his own family, church, illegal immigrants and the British taxpayer. Charities are responsible for accurately reporting their income too - and the trustees of a charity are personally liable. The Charity Commission website provides details on the responsibilities of Trustees. This is just another sorry tale of one person using his position of trust to manipulate those around him and a reminder that abuse takes many forms. Mr William is reported to still owe HMRC over £2.6m.

DT.