- The FTT dismissed Mr Ellis’s appeals against personal liability notices for £14,295,966 in VAT penalties due to deliberate inaccuracies.
- The tribunal found that funds withdrawn by Mr Ellis from North Yorkshire Properties Ltd were earnings, not loans, and subject to income tax and NIC via PAYE.
- Mr Ellis was found to have knowingly participated in VAT fraud and provided false information to investors.
- The destruction of VAT records was deemed intentional to prevent HMRC review.
- Mr Ellis failed to attend the hearing, and his claims of the funds being loans were unsupported by evidence.
Source: claritaxnews.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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