Sunny

Sunny

max temp: 23°C

min temp: 15°C

ESTD 1874 Search

Walton: Essex accountant ordered to pay back nearly £50,000 after admitting VAT fraud

06:00 10 June 2014

Ipswich Crown Court

Ipswich Crown Court

Archant

An Essex accountant who sent in fake VAT returns for five years to evade nearly £100,000 and to live a lifestyle beyond his means has been ordered to pay a £47,000 confiscation order.

shares

Martin Kennedy, of High Street, Walton-on-the-Naze, was sentenced to 10 months in prison, suspended for two years, and a six month curfew at Ipswich Crown Court in January.

Kennedy, 54, had pleaded guilty to charges under the VAT Act 1994 and the Fraud Act 2002.

The member of the Association of Accountant Technicians was investigated by HM Revenue and Customs (HMRC) and admitted suppressing client business transactions by £93,799 between December 2007 and June 2012.

The fraud resulted in the 
non-payment of £99,651 in VAT.

Yesterday, Kennedy returned to court for a hearing under the proceeds of crime act.

Lynne Shirley, prosecuting, said Kennedy’s benefit from his offending was £99,651 and the agreed recoverable amount was £47,282.

Judge John Devaux made a confiscation order in that sum.

After Kennedy’s sentencing in January Paul Barton, assistant director of criminal investigation for HMRC, said: “Kennedy made deliberate and sustained attempts to fake his VAT returns, to fund a lifestyle well beyond his means.

“He seemed to believe that as an accountant he was untouchable, but instead has learnt the hard way that crime does not pay. As well as a criminal record, his reputation and career are in tatters.”

During the investigation, Kennedy stated that if he had declared the right amount of VAT, he would have been left with a zero bank balance and would have been unable to pay his staff.

However, while committing the fraud, Kennedy purchased his marital home for £280,000 and acquired a large number of shares, but still continued to submit false VAT returns.

shares

1 comment

  • why only £47.000 pay back? not bad if you rob the country of £100.000 and no jail .

    Report this comment

    pandy

    Tuesday, June 10, 2014

The views expressed in the above comments do not necessarily reflect the views of this site

A beautiful day in Christchurch Park, Ipswich

If the weather goes according to forecast this weekend, the advice will be to make the most of tomorrow’s sunshine because thunder and rain could be on the way for Sunday.

Charles Mayes, pictured with friend Pat, who died in the crash.

A tipper truck driver “panicked” and drove off after a crash which saw another motorist die, a court has heard.

The cannabis factory found at Barry Copeland's house

A Suffolk man who allowed his house near Stowmarket town centre to be used as a cannabis factory has been given a suspended prison sentence.

Staff at West Stow Anglo-Saxon Village and Country Park created a real life Hobbit hole fit for Bilbo Baggins - but now a holiday site want to create one you can sleep in

West Suffolk is set to be the home of the UK’s first replica, habitable “Hobbit Hole” from the popular JRR Tolkien fantasy books and films.

A turning HGV blocked a Suffolk road

The driver of an articulated lorry received some “strong words of advice” from police after his attempts to turn the vehicle blocked a Suffolk road.

Man taken to Colchester General Hospital for futher care.

A 28-year-old man was treated for smoke inhalation following a first floor flat blaze in Colchester.

The launch of the Suffolk Historic Churches Trust bike ride, which takes place on September 12. 
Peter Cook, Patrick Grieve and Terry Hunt.

An annual bike ride raising thousands of pounds to ensure the future of church buildings in Suffolk was officially launched today.

New figures from the Health and Social Care Information Centre found that alcohol-related hospital admissions rose from 13,160 in 2012/13 to 13,250 in 2013/14 in the county.

The message comes despite a small rise in drink-related hospital admissions in the county last year.

Easton Farm Park is getting ready for the Maverick Festival this weekend.

The stage is set for a three-day celebration of transatlantic Americana, roots and folk music down on a Suffolk farm.

Collision on the A14 at Felixstowe.

A car and lorry collided on the A14 at Felixstowe near the port this afternoon.

Most read

Most commented

Topic pages