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 at Worcester Crown Court today after he pleaded guilty in February to the charge of cheating the public revenue contrary to common law. He evaded £400,000 tax through a VAT and income tax fraud and spent the money on a luxury lifestyle including cars and holidays.
Douglass, of Silver Birch Drive in Hollywood in Birmingham, was an investment adviser with Berry Birch and Noble Financial Planning between February 2006 and March 2006, and an investment adviser with Honister Partners between June 2009 and July 2012.
Honister Capital went into administration in July 2012 after the group failed to secure professional indemnity insurance.
Sentencing Douglass, Judge Mr Pearce-Higgins criticised Douglass’ “cavalier attitude”.
HM Revenue & Customs assistant director of criminal investigation Adrian Farley says: “It was pure greed that motivated Douglass to abuse his position as a trusted tax adviser, solely to line his own pockets and enjoy a lifestyle beyond his means.
”He advised his clients on how much tax they were due 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.”