Published • loading... • Updated
Glasgow directors banned for nine years over £15m vape tax evasion scheme
The company imported 352,688 vapes from China and owed nearly £15 million in tax, HMRC said.
- Directors Kyle McGinness, 24, and Leanne Moynes, 37, of YSK Enterprises Limited received nine-year disqualifications, banning them from managing companies until 2035 for orchestrating a £15 million tax evasion scheme.
- Between February and April 2023, YSK Enterprises imported more than 350,000 vapes from China, mislabeling them as medical nebulisers to evade taxes. HMRC calculated the company owed nearly £15 million in unpaid VAT and customs duty.
- Border Force officers intercepted 352,688 vapes in Harwich in 2023 after goods labelled as nebulisers were found to be e-cigarettes. Moynes failed to preserve accounting records, leaving more than £1.6 million in company assets unaccounted for.
- Dave Magrath, director of investigation services at the Insolvency Service, said the pair went to "considerable lengths" to disguise imports. He added that disqualifications protect the public from those operating outside the rules.
- Richard Hopwood, head of insolvency profession at HMRC, said "We are determined to allow honest businesses to thrive," and officials will pursue those who refuse to pay taxes and undermine the system.
Insights by Ground AI
12 Articles
12 Articles
Coverage Details
Total News Sources12
Leaning Left4Leaning Right0Center3Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
C 43%
Factuality
To view factuality data please Upgrade to Premium
