In R v Steed (CA Criminal Division – 1 February) a trader (S) who had failed to notify his liability to tax was convicted of cheating the public revenue. The Cardiff Crown Court found that S had been involved in ‘criminal activity’ and imposed a confiscation order of £707 200. S appealed to the CA which unanimously dismissed his appeal and upheld the confiscation order. Moses LJ observed that S had been ‘unable to show the extent to which the assets he held and the expenditure he had incurred were derived either from tax which he ought to have paid but which he had not paid or his criminal activities or his legitimate activities’.
Why it matters: Where HMRC begins an investigation into failure to notify chargeability under TMA 1970 the investigation may uncover evidence of income from criminal activity giving...
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In R v Steed (CA Criminal Division – 1 February) a trader (S) who had failed to notify his liability to tax was convicted of cheating the public revenue. The Cardiff Crown Court found that S had been involved in ‘criminal activity’ and imposed a confiscation order of £707 200. S appealed to the CA which unanimously dismissed his appeal and upheld the confiscation order. Moses LJ observed that S had been ‘unable to show the extent to which the assets he held and the expenditure he had incurred were derived either from tax which he ought to have paid but which he had not paid or his criminal activities or his legitimate activities’.
Why it matters: Where HMRC begins an investigation into failure to notify chargeability under TMA 1970 the investigation may uncover evidence of income from criminal activity giving...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
