Jail for property investor who did not declare capital gains when selling up

A Hampshire property investor who failed to declare Capital Gains Tax from the sale of properties evading £157,725, has been jailed for two years and three months.

Richard Fuller, 53, was arrested at Gatwick Airport back in October 2014 after a holiday to Turkey.

An investigation by HMRC revealed that between 2006 and 2013, he didn’t declare profit gained from selling properties in the Aldershot area.

Fuller was found guilty of cheating the public revenue and fraud by false representation and has been jailed for two years and three months at Winchester Crown Court.

HMRC says confiscation will be sought to recover the proceeds of his crimes.

“Fuller thought he was above the law and decided not to declare or pay the tax due from the sale of some of his property portfolio. It is simply not acceptable to steal from UK taxpayers” explains Richard Wilkinson of HMRC’s Fraud Investigation Service.

“We ask anyone with information about suspected tax fraud to contact our Fraud Hotline on 0800 788 887.”

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