By Daily Mail Reporter UPDATED: 14:08 EST, 29 November 2011 'Rogue trader': Gregory Allnutt dodged more than £420,000 in VAT selling cut-price electrical goods over eBay A stay-at-home father who dodged tax on £4.7million-worth of electrical goods he sold on eBay was jailed today. Gregory Allnutt, who has a seven-year-old son, avoiding paying more than £420,000 in VAT. He raked in £4,000 a month over three years selling cut price electrical goods on the internet. The 40-year-old, from Croydon, set up a company called Shapewise to sell nutrition products from the comfort of his home. But instead he bought tax-free electrical goods from the European Union through online site Pixmania before selling them on for a profit.
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Gregory Allnutt bought tax-free goods from EU
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He then sold them without VAT to undercut rivals
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Raked in £4,000 a month for three years
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Now owes £420,000 in VAT to the taxman
Instead of declaring the sales and adding on the price of @placeholder, he undercut his rivals and maximised his profits.