A former solicitor from Newcastle who promoted a fraudulent tax avoidance scheme which cheated clients out of £1.6m, has received a two-year suspended jail sentence and been disqualified as a director for five years. Malcolm Graham claimed his scheme would save clients substantial amounts of money by manipulating their property transactions and tax returns to reduce liability for stamp duty land tax (SDLT). HMRC described the scheme as 'a complete fraud', with Graham using altered legal documents to make the scheme appear legitimate, and says it has taken action to recover the SDLT, plus interest, from Graham's clients.
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