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GM Fenech v Serious Organised Crime Agency

In GM Fenech v Serious Organised Crime Agency (TC02944 – 18 October) the Serious Organised Crime Agency had begun an investigation into the tax affairs of an individual (F) who had been the controlling shareholder of a company (S) which bought and sold building materials although he was not a director. They seized more than £200 000 in cash and discovered that F had made significant deposits into certain bank accounts although he had declared on his tax returns that he had no taxable income for 2006/07 to 2008/09. They issued discovery assessments under Proceeds of Crime Act 2002 s 317 and imposed penalties under TMA 1970 s 95. F appealed. The First-tier Tribunal dismissed F’s appeals finding on the evidence that he had been involved in fraudulent mortgage applications had been convicted for handling stolen property and had been charged...

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