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VAT Fraudster aspired to be Tiger Woods

By December 12, 2014June 13th, 2019No Comments

Gurjeet Singh Panesar submitted false VAT repayment claims to HMRC, in order to fund his training to become a professional golfer…

A Value-added-tax (VAT) Fraudster from Northamptonshire has been jailed for committing £650,000 VAT Fraud. Panesar, aged 32, pursued his dream of becoming a pro-golfer through funding from submitting false VAT repayment claims to HM Revenue and Customs (HMRC). As well as paying for expensive golf training, the VAT fraud also allowed Mr. Panesar to but luxury cars; a Ferrari and a Porsche. On trial in Oxford Crown Court, the VAT fraudster admitted he was guilty of 17 offences under the Fraud Act of 2006. Panesar has been sentenced to two years and four months in prison, and confiscation proceedings to reclaimVAT fraud profits have already begun.

Kevin Kinsella Jnr, of KinsellaTax, said:

“For a VAT fraud offence of £650,000 is 28 months enough? After all, effectively it will mean about 12 months behind bars.

“One wonders if the old saying, ‘crime does not pay’, is really applicable.”

The VAT fraudster was sole director of two motorcycle production companies based in Brackley, South Northamptonshire. Uk Custom Choppers Ltd and UK Choppers International Ltd, were thought to be involved in producing custom-made Harley Davidson motorbikes. Although very little trading took place, UK Custom Choppers Ltd was supposed to be involved in production and sales of bikes in the UK, whilst UK Choppers International Ltd focused on exporting goods worldwide. Panesar committed £650,000 VAT fraud by tampering with company purchase invoices and producing false sales invoices and fake bank statements to make the business look credible and a legitimate trade.

The VAT fraudster then used fake documents he had produced to claim large VAT repayments from HMRC. Gary Lampon, HMRC’s Assistant Director of Criminal Investigation, said at Panesar’s sentencing:

“This sentence will send a clear message to anyone considering fraud against HMRC. “We are determined to tackle those involved in tax evasion and fraud and bring them before the courts. “With over £10 billion being stolen from UK finances each year by criminals involved in the hidden economy, its a serious crime which we are determined to eradicate.”

Panesar’s VAT fraud conviction is one of many recent triumphs of HMRC in their increased efforts to crack down on tax fraud in the UK. Kevin Kinsella Jnr, of KinsellaTax, said:

“The Revenue has said that they are tightening the net on tax fraud in the UK.

“Recent rulings that have seen VAT fraudsters caught and sent to prison indicate that HMRC’s tax fraud initiative is currently working in their favour. Though, the extent to how effective HMRC’s effort to recover lost taxes is yet to be seen.

“With an extra £900m funding from the Government to tackle tax fraud, tax evasion and tax avoidance, one would hope that many other criminal fraudsters will be uncovered.”

If you think HMRC suspect you of any kind of fraud, or you have already received that dreaded tax enquiry letter from HMRC. You need to contact a tax enquiry expert IMMEDIATELY.

Call us NOW on 0800 471 4546 to speak to one of our enquiry experts. KinsellaTax staff consists of ex-HM Inspector of Taxes and ex-HM Custom and Excise Officers, fully experienced in HMRC investigations.