Lincolnshire boss of soap company in £65k VAT fraud
A TATTERSHALL business consultant faces sentence later this month after being convicted of a £65,000 VAT fraud.
Roger Ede fiddled money over a two year period using a series of companies he was involved with , a jury at Lincoln Crown Court was told.
Ede, 52, a former school biology teacher, of Sleaford Road, Tattershall, denied three charges of fraudulently obtaining VAT repayments but was convicted following a jury trial.
The charges related to UK Soap Co Ltd, Soma Vita Ltd and Alpha Canis Ltd on dates between 2009 and 2011.
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A jury heard how in a series of transactions Ede sold trademarks valued at £150,000 from one firm, UK Soap Co Ltd, to another firm Alpha Canis Ltd.
No VAT was paid by UK Soap Co Ltd but Alpha Canis reclaimed VAT on the same transactions.
Alpha Canis was a company Ede had set up to channel payments for work he did for UK Soap Co Ltd of which he was also a director.
Ede later told HMRC investigators that he believed he acted legitimately as he thought UK Soap Co Ltd had time in which to pay the tax and it could be done in the "wrapping up" of the company's affairs when it was dissolved. In an interview with the investigators Ede said: "I thought declarations like that could be dealt with up to three years later. I thought I was acting wholly legitimately."
Ede said he went into business believing he and his associates had ideas which could "produce a millionaire lifestyle" but that never happened and he was reduced to existing on hand outs from friends and relatives to pay for his living expenses and the £600 a month rent on his home.
He said: "I always believed we were a step away from a big pay-out."