A BUSINESSMAN has been fined £17,000 for breaching trading sanctions.
Robin Stammers appeared today at Southampton Magistrates' Court where he was ordered to pay the cash to HM Revenue and Customs for failing to pay VAT securities over two of his businesses.
He was supposed to pay £149,350 for Isle of Wight based West Island Label Store and £25,950 for Intermedia Sales in Kent when registering both of them because previous businesses of his had folded and left outstanding tax debts.
Stammers pleaded guilty and HMRC was also awarded compensation of nearly £2,000.
He was also told to pay £5,000 costs.
John Cooper, assistant director, HMRC criminal investigation said: “Insolvent traders like Stammers deprive the UK of public funds. We will continue to tackle non-compliance and investigate those who walk away from unsuccessful businesses leaving tax debts, only to begin trading as a new entity shortly after.”