Overcast

Overcast

max temp: 10°C

min temp: 7°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

Hen harrier chicks at a nest - the species has become a symbol of UK bird of prey protection efforts.

A top naturalist and TV presenter really got to the art of the matter in his fight against illegal bird and animal persecution - and used a Constable masterpiece to make his point

Sudbury Town Centre. North Street.

Police are treating the sudden death of a man in Sudbury as unexplained.

Thomas the Tank was a favourite of Callum Maclean

It’s been a tad nostalgic in the office this week, writes Kate Dodd. A flippant mention of favourite TV as a child, and the chat turned all misty-eyed and heart felt.

Emergency services at the scene at the multi-storey car park in Bury on November 28.

A 64-year-old woman who died after falling from a multi-storey car park in Bury St Edmunds committed suicide, an inquest has heard.

RAF Mildenhall

A new group has been launched to evaluate ideas for future uses of the RAF Mildenhall site before presenting them to the Ministry of Defence (MOD).

The Red Arrows perform manoeuvres at the Clacton Air Show on Friday, 22 August.

Spectators at this year’s Clacton Airshow will once again be able to watch the world famous Red Arrows.

Kevin Bru after being reunited with Gizzer

Ipswich Town supporters came to the rescue of one their favourite players, reuniting them with their beloved dog.

Giles' portrait of Alf Garnett

An unusual work by Suffolk art icon Carl Giles is to be auctioned in the county.

Traffic. Library image.

A broken down lorry may cause delays for westbound traffic on the A14 this evening.

Andy and Carol Wright who have moved into the Old Chequers Inn at Friston which they are to re-open in the village.

The new landlords of a village pub in Suffolk have thanked the community for campaigning to save the building from the threat of housing.

Most read

Most commented

Topic pages