Restaurant owner jailed following complex HMRC investigation

Chin Seong Lam, aged 60 of Barnet in London, has been jailed for three years following a complex HMRC Fraud Investigation involving £1 million tax scam. Mr. Lam owned two successful Chinese restaurants in London and Portsmouth. He under-declared his sales and as a consequence did not pay tax (VAT, income and corporation tax) of £1 million. At the time of VAT registration, he described his business as “manufacturing pottery” with projected turnover of £10,000. HMRC investigations revealed that the actual turnover was £5.1 million. Read more…