Rainhill fraudster ordered
to repay £43,000
A Rainhill man, who stole more than
£41,000 in VAT repayments for a fake consultancy business, has been ordered to
repay £43,726 or serve extra jail time. Terence Paul Jackson, 57, set up a
bio-oils consultancy company, trading as Jackson Cooper Limited in 2009. He then
submitted multiple VAT repayment claims to HM Revenue and Customs (HMRC) over
6 years. However, the business was a complete sham. It never traded and
Jackson invented all the financial records, company expenses, purchasing and
travel receipts just so he could steal the VAT.
Before a routine visit from a Tax Inspector, in 2015, Jackson confessed his Tax
Theft over the phone to HMRC. He was charged with VAT fraud in December 2015 and
pleaded guilty in January 2016 at Liverpool Crown Court. He was immediately
jailed for 12 months.
At a Proceeds of Crime hearing to recover the money he stole, the court heard
that Jackson had rented out three properties in Rainhill and Manchester. The
properties generated a monthly income of £1,290, which he never declared. He
also had several pension and savings investments totalling £170,000.
Jackson was ordered to repay the stolen VAT plus interest and penalties,
totalling £43,726, within 3 months or he will have an extra 12 months added
to his current jail sentence.