Taylor Scott International News
A warning has gone out to property industry professionals in the UK to make sure they carry out correct Stamp Duty returns after a conveyancer was jailed for stealing money paid by his clients. Anthony Maragh, 57, from Harrow in London, consistently undervalued his clients’ properties so that less stamp duty land tax was paid to Revenue and Customs (HMRC) while he kept the difference. He swindled his clients and HMRC out of almost £352,500 in stamp duty land tax between 2008 and 2013. Tax investigators found that he lied on paperwork to undervalue his clients' properties meaning the amount of tax owed was reduced. But he charged them the full amount and kept the difference. He under declared the stamp duty land tax due on 43 property transactions, transferring £297,000 directly from the solicitor's company accounts into his personal bank account. He also spent a further £55,000 directly from the Client Account on collectable antique Chinese gold bonds. ‘As a conveyancer, Maragh knew only too well that he was breaking the law and what the consequences of his actions would be,’ said Martin Brown, assistant director of the Fraud Investigation Service at HMRC. ‘He abused the trust of his clients, stealing money that had been paid by them in good faith to meet their tax liabilities, to line his own pockets. Maragh thought that his scheme would go undetected, but he was wrong and is now behind bars with his reputation and career in tatters,’ he added. Anyone with information on suspected tax fraud should contact the Customs Hotline on 0800 59 5000. Maragh was sentenced to three years and four months in prison and confiscation proceedings to recover the proceeds of crime are underway. ‘This was repeated offending and an abuse of position and trust with a large number of victims exposed to risk,’ said Her Honour Judge Poulet in court. Taylor Scott International
Taylor Scott International, Taylor Scott
