IT consultant for City of London banks has been found guilty of £635,015 income tax evasion . . .

Stephen Maxwell, a former IT consultant for City of London banks, from Dalbeattie, Dumfries and Galloway, has been found guilty of committing tax evasion, following an HMRC tax investigation into his business and personal tax declarations.

Maxwell, 53, failed to declare nearly £2m of income that he received from an IT consultancy business between 1999 and 2008, a crime for which he was found guilty on Monday 16 April.

He has been remanded in custody at Kirkcudbright Sheriff Court until 26 April as background reports are prepared.

For the eight year period between 1999 and 2008, Maxwell received payments for IT consultancy work at City of London banks into companies registered in the Isle of Man and Gibraltar; companies he was a hidden beneficiary of.

Assistant Director of Operations for HMRC in Scotland, David Odd, said:

“This was a case of deliberate and systematic fraud. The tax system depends on people being honest but Maxwell consistently tried to conceal his income.

“Income tax fraud is not a victimless crime and HMRC take a very serious view of anyone who acts in this manner. For anyone choosing not to pay the tax they owe, this case proves that we will vigorously pursue them and bring them to justice.”

By failing to declare almost £2m worth of earnings, Maxwell evaded a total of £635,015 in income tax between 6 April 1999 and 5 April 2008.

Are you under suspicion of tax evasion by HMRC?

If you have a tax enquiry then you should contact a tax investigation expert before HMRC contact you.

KinsellaTax staff consist of ex-HM Inspector of Taxes and ex-HM Custom and Excise Officers fully trained in all types of HMRC tax investigations.

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