A racing driver who funded his hobby driving high-performance sports cars through a £450,000 tax scam has been jailed.

Simon Atkinson, of Shantock Hall Lane, Bovingdon, was imprisoned for three years and four months at Luton Crown Court yesterday after pleading guilty to two counts of failing to comply with money laundering regulations and two counts of cheating the public revenue.

Atkinson, 54, was until May a company director of a halal poultry processing company, IHP Ltd, in Hemel Hempstead.

The tax fraud, which he used to finance his passion for racing Lamborghinis in competitive motor tournaments including the UK’s Brands Hatch and Belgium’s Supercar Challenge, came to light after his company was investigated for failing to comply with anti-money laundering regulations.

Investigators found Atkinson had falsified invoices, asking companies to invoice personal motor racing expenses as business costs.

He received £112,186 in VAT repayments and evaded £338,630 in Income Tax.

Multiple invoices dated between 2011 and 2015 were listed as “transportation” and “engineering services”, when in reality, they were for high-end car services.

In 2011, Atkinson paid for a Lamborghini race car claiming the money as a business expense under “machinery costs”.

On July 20, he pleaded guilty to two counts of failing to comply with money laundering regulations, and two counts of cheating the public revenue.

Atkinson has since paid back most of the stolen money and in addition to his jail sentence he was ordered to pay back the remaining £30,125 within 42 days, and £1,901 in costs.

IHP Ltd. were fined £20,000 and ordered to pay £1,000 in costs.

Kath Doyle, assistant director, Fraud Investigation Service, HMRC, said: “Atkinson was thinking only of himself as he stole from the taxpayer to fuel a life in the fast lane - money that should have been going into our vital public services.

“His scam has well and truly hit the skids and not only has he been put behind bars, he also has to pay back all the stolen money.”