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Luxury yacht broker jailed for fraud

A yacht broker has been jailed for three years for a £210,000 VAT fraud involving the sale of luxury boats.


The 51 year old male from Litton Cheney, Dorchester, was found guilty on six counts of cheating the public revenue and one count of false accounting after an investigation by HM Revenue and Customs (HMRC).

He sold six luxury motor boats with VAT which had previously been supplied VAT-free for export to the Channel Islands but did not declare the revenue.

He charged the £210,000 VAT bill to his customers and did not declare the money to HMRC.

The total VAT inclusive price of the six motor cruisers was £1.4m.

The money was spent on sending his children to private school and renovating a 44-foot yacht in Dorset which has since been sold.

Blatant attack on the tax system

John Cooper, from HMRC, said: "Williams used his position as director of a yacht brokers to commit VAT fraud.

"This blatant attack on the tax system not only robbed the Exchequer of public funds, but is also unfair to those businesses that diligently abide by the rules."

For further information visit the HMRC website.

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See also:
Payment fraud
Procurement fraud

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