A BRISTOL builder was among a gang of 20 involved in a “sophisticated tax fraud” which netted more than £8 million.
Timothy O’Loughlin, 45, of Hassell Drive, St Philip’s, was jailed for three years and nine months after admitting conspiracy to launder money on 2 May 2014.
… HMRC said the fraud involved “a large and complex web of illegal activity” which took in more than 100 businesses. Among the scams the gang used were employing subcontractors “off-record”, allowing gang members to keep income tax and National Insurance contributions taken from the workers but not paid to HMRC.
Fake invoices, supposedly for providing labour, were submitted to fraudulently claim VAT refunds.
