Former director admits £205,000 VAT fraud
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The former director of an Aberdeen scrap metal firm has admitted running a VAT fraud amounting to in excess of £200,000.
HMRC found that Russell Goodenough, 47, obtained £205,600 by fraud between July 21 and October 17, 2011 while acting as sole director of scrap metal company T’ir Trading Ltd.
Goodenough pleaded guilty to forming a fraudulent scheme to obtain money when he appeared at Aberdeen Sheriff Court this week.
The court heard how, while director of the firm, Goodenough imported quantities of scrap metal from abroad on which no VAT was payable.
On repeated occasions, Goodenough then sold scrap metal to a number of other firms.
Invoices relating to the sales specified that VAT was included.
Goodenough collected the money representing the VAT on the sales and thereafter failed to properly account for the money to Her Majesty’s Revenue and Customs (HMRC).
Sheriff William Summers deferred sentence on Goodenough, whose address was given in court papers as Ellon, for the preparation of reports.
He will be sentenced next month and was released on bail.
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