You are here: Home - News -

Landlord and property developer gets two years suspended for £218k tax dodge

  • 13/03/2017
  • 0
Landlord and property developer gets two years suspended for £218k tax dodge
A property developer and landlord has been sentenced for evading £281,000 in taxes after failing to declare his income or directorship status to HMRC.

Michael Charles Waddingham, 44, of Teddington, is currently the director of two companies and owns 17 properties across England.

HMRC’s investigation found he had not submitted any tax returns between 2008 and 2012. He had failed to declare rental income and that he had been a director of seven land and property development companies earning in excess of £100,000 a year from the directorships.

He was sentenced to two years in jail suspended for two years plus an additional financial penalty of £200,000, on top of the £281,000 tax he had already repaid.

Waddingham was also the part owner of several racehorses and is currently the director of a betting syndicate. Following his arrest in 2015, HMRC forensic accountants worked with Waddingham’s own accountants to calculate the total Income Tax and Capital Gains Tax he owed.

Waddingham admitted tax fraud on 17 January and was sentenced at Kingston Crown Court on 10 March.

HMRC has recovered all the tax stolen and has given the defendant six months to pay the additional £200,000 financial penalty.

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
House price inflation at lowest since 2013

House price inflation has slowed for 12 consecutive months and is now at its lowest rate since 2013, according to...