UK Inland Revenue Raid on Kappa Maritime

The dust is settling around the UK Inland Revenue raids on London Greek shipowner Kappa Maritime and some of the tension is leaving the air. The Inland Revenue was swift to assure the international maritime community in London that there had been no policy change.

Although a spokesman refused to comment on Kappa’s case, he made it clear that the raid, under Section 20c of the Inland Revenue Act, was undertaken after investigations on an individual basis. It has been monitoring Kappa, the UK operation of Mr. Pantelis “Lou” Kollakis, for some time. We only apply for a Section 20c raid if we feel there is the possibility of serious tax fraud,” he continued. It could not be used as part of a general campaign against a section of the community.”

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