"> June 2019 - Page 3 of 3 - IAB | International Association of Bookkeepers

June 2019

Restaurant fraudster caught by own secret books

The owner of a Derbyshire restaurant has been jailed for three years for a £480,000 tax fraud that was discovered when investigators uncovered a hidden sales book dating back five years. Nazrul Islam, 52, from Birmingham, hid sales in a bid to evade nearly £480,000 of tax payments at his Repton-based restaurant, an investigation by HMRC revealed. Islam was arrested

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HMRC makes six loan charge arrests

Six alleged promoters of fraudulent loan charge arrangements have been arrested following raids on residential and business properties across England. Five men, including one in his late seventies, and one 45-year-old woman were questioned under caution by HMRC officers, 50 of whom took part in the co-ordinated strike. The officers raided addresses in London, Guildford, Stevenage, Stratford-upon-Avon, Sevenoaks and Tonbridge.

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Businesses to be given increased protections from crime

Companies will be better protected from fraud under new Companies House reforms that will do more to safeguard the personal data of business owners and ensure the accuracy of the company register, the government has said. Business Minister Kelly Tolhurst last month unveiled a substantial package of reforms to Companies House, with the aim of minimising the burden on law

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OTS wants to simplify tax for smaller businesses

A new Office of Tax Simplification (OTS) report calls on the government to prioritise action to address long-standing concerns about the experience of smaller businesses. The report explores for the first time the tax challenges faced by businesses, referencing the stages a developing small business might go through in its engagement with the tax system. What has emerged are several

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GDPR one year on: the battle to stay compliant is picking up pace

In the past year, since the introduction of the new GDPR rules, businesses in the EU have been fined €56m in total. In the UK, the Information Commissioner’s Office (ICO) recorded 1,792 data breaches in the first month, nearly eight times the average of the previous year. And UK firms have been warned that there will be no let up

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HMRC reaches referral target of 1,000 prosecutions

The taxman launched 1,007 prosecutions against individuals in relation to tax evasion offences in 2018. HMRC beat its target for referring 1,000 tax evasion cases to the Crown Prosecution Service (CPS) for the year ended 31 March 2018, according to Thomson Reuters. This is the fifth year in a row that HMRC has beaten its target, having reached it every

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