THE DISGRACED former president of the Association of Taxation Technicians (ATT) and a fellow company director – both jailed for a £5m pension scheme tax fraud – have been ordered to pay back a total of £5.1m.
Confiscation proceedings were issued by Birmingham Crown Court on Friday, compelling Andrew Meeson (pictured), 53, to repay £1,642,205.10, and 47-year-old Peter Bradley to repay £3,458,002.29 within six months, or face a further ten years in jail.
The confiscation orders follows a financial investigation by HMRC into the assets of the duo, who were each sentenced to eight and a half years in jail in March 2013.
Meeson and Bradley, both from Wolverhampton, had conspired to receive £5m in fraudulent income tax repayments via their company, Tudor Capital Management Limited.
The pair claimed that the repayments were due on pension contributions of £25m made by scheme members, but HMRC found the contributions did not exist.
Adrian Farley, HMRC’s assistant director of criminal investigation, said: “Meeson and Bradley committed blatant theft, exploiting their positions of trust and authority. Our priority is to track down tax fraudsters and to confiscate their ill-gotten gains. If they do not pay up, they face a substantial additional prison sentence – and they will still owe the money on release.”
The application of robotics in finance functions is moving faster than predicted. Although, companies are cautious in how they are applying artificial intelligence to ensure results first, many are stepping up their investigations
EU competition commissioner Margrethe Vestager has defended the decision to order technology giant Apple to pay €13bn (£11bn) in back taxes to the Irish government
Carillion has announced the appointment of a new finance director as it reported a rise in first half profits and sales led by strong growth in its support services business
The UK inflation rate hit its highest level in almost two years in July, suggesting that the sharp fall in sterling following the UK referendum to leave the European Union is forcing prices up