Tax fraud by greedy landlords

Written by Allen Walkey on - Breaking News -

While I was checking through the weekend news I was drawn to an article in the EveningStandard online, it was one of those reoccurring tax fraud cases involving greedy people who choose to defraud the system to finance their wealthy lifestyle at the expense of the majority who are in the main contributors to our society, Enough is Enough.

The case in question was concerning a couple from Uxbridge who are accused of defrauding mortgage lenders and taxman whilst earning rent from a property empire. The scale of the fraud is shocking to say the least, what makes it worse is that the wife worked for Her Majesty’s Revenue and Customs, in the case Prosecutor Ailsa Williamson said: “They lied about their incomes. They rented out most of the properties and got income but never told the tax man about it. They sold three of the properties but did not declare their profit. The icing on the cake was tax credits they claimed by lying about their income.”

What I fail to understand is why are there so many similar cases as this where landlords fail to declare their income, or even worse claim benefits at the same time to top up their already substantial income, has consequetive governments not made enough effort to monitor and control those earning vast incomes from their property empires. This as I see it is outright theft, they are taking away money that should be going into the country’s purse to help make up the shortfall that exists in Health, Education and Housing.

The government has got to get a grip and courts need to deal with the offenders in a manner that will see people  punished more severley, how often do I read about punishments handed out in other such cases that appear so weak it is unbelievable, infact some of the punishments encourage  people to offend in this way as opposed to deter, in some cases the reward appears to outweigh the risk.

Thankfully it is a small minority who defraud in this way, however it is sending out the wrong messages, the government needs to get systems into place that deal with these issues more efficiently and effectively, society is suffering at the hands of the greedy few, shame on them.

Link to the Standard website: http://www.standard.co.uk/news/london/uxbridge-couple-defrauded-mortgage-lenders-and-taxman-while-earning-rent-from-property-empire-court-a3124851.html

 

 

Author: Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

Estate Agent Web Site Design special offer combined with Mailsign Branded emails just £499 for interactive bespoke design.

Full Details of Web design Service 

Share
 

Recent Popular Articles


New Zealand to ban foreigners buying homes!


This is some headline which may sound a bit severe, but does New Zealand have a good point and further more, are they putting the


Government minister for tenants


According to research from Your Move and Reed Rains tenants would like to see a government minister specifically to deal with their issues within the


OnTheMarket announces record traffic to it's portal in September


OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, announces today that as of 01 October, it has signed listing agreements with UK


Lloyds Bank Home Insurance urges homeowners to carry out health check on their property


Lloyds Bank Home Insurance is urging homeowners to carry out a health check to ensure their property is properly prepared for winter. Tim Downes, Senior


Shelter's response to government stats showing more than 150 social tower blocks are still covered in Grenfell-style cladding.


More than 150 social tower blocks still covered in Grenfell-style cladding, official figures show Official figures recently released on cladding similar to that used on Grenfell Tower