HMRC have released a statement after successfully prosecuting a Dorset yacht broker for VAT fraud. James Williams was sentenced to three years imprisonment for false accounting and cheating the public revenue.
Williams used his position as director of a yacht brokers to commit VAT fraud. He sold boats which had previously been supplied VAT-free for export to the Channel Islands, but failed to account for the VAT on their subsequent sale in the UK. This blatant attack on the tax system not only robbed the Exchequer of public funds, but is also unfair to those businesses that diligently abide by the rules. Tackling VAT fraud is a priority for us and we will not hesitate to pursue those who commit this type of offence.