Stephen Maxwell, 53 from Dalbeattie, Dumfries and Galloway, has been found guilty of income tax evasion following an investigation carried out by HMRC investigations in Leeds.
During the period 1999 – 2008, Mr Maxwell worked as an IT consultant for City of London banks. Fees were paid to companies that were registered in Gibraltar and the Isle of Man and of which Maxwell was a hidden beneficiary. From 2005 the income was paid to a UK registered company which never filed any tax returns.
A total approaching £2 million was deliberately and systematically undisclosed by Mr Maxwell, giving rise to a loss of tax to the exchequer of £635,015 in the period 6th April 1999 – 5th April 2008.
Maxwell has been remanded in custody until 26th April for preparation of background reports.
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