A former Honister Partners adviser has been jailed for 18 months after he failed to pay income tax for 13 years on earnings of more than £1m.
David Douglass was sentenced last week after he evaded £400,000 of tax through a VAT and income tax fraud. He spent the money on a luxury lifestyle including cars and holidays.
He pleaded guilty to charges of cheating the public revenue contrary to common law.
Douglass specialised in investment funds and pensions and acted as an adviser with Honister Partners from June 2009 until July 2012, when parent company Honister Capital went into administration.
Sentencing him, Judge Pearce-Higgins criticised Douglass’s “cavalier attitude”.
HMRC assistant director of criminal investigation Adrian Farley says: “He advised his clients on how much tax to pay, while ignoring his own advice by taking his fee without putting it through the company books or paying anything to HMRC on his own income.”