Danny McCance 7 Aug 2017 04:22pm

Jail for tax fraud accountant Love

Steve Love, from Somerset, has been jailed for tax fraud and his failure to pay HMRC £358,283

Today it was announced that accountant Love will serve two years and three months after he was sentenced at Taunton Crown Court on Friday.

As director of construction company J B A Martin Ltd, of Aldershot, Hampshire and of Wessex Accountants who covered the company’s accounts, Love had taken the VAT he charged clients and used it for cashflow in his business.

He previously plead guilty to fraudulent evasion of VAT at Yeovil Magistrates court on 12 July.

“As an accountant [Love] should have known better, but he abused the position of trust his profession put him in to steal the money that should have been funding public services,” said Richard Wilkinson, assistant director of Fraud Investigation Services at HMRC.

“Tax fraud will not be tolerated and HMRC is working to create a level playing field for legitimate local businesses who cannot compete with their criminal competitors,” he added.

In another successful case for the Revenue last week, a husband and wife who devised a tax avoidance scheme to get their business out of trouble with were both banned from being directors for a total of nine years.