A former accountant has been banned from all regulated activity.

Terence Potter, who was a former tax partner at EY, was previously jailed for eight years for his part in a scheme tax fraud.

He is currently serving a sentence in HM Prison Highpoint South in Suffolk after being convicted of four counts of fraud linked to a tax scam in 2015.

The £2.2m fraud saw Mr Potter and two film producers take advantage of a government scheme for UK films.

An FCA notice said Mr Potter did not respond to a decision notice prohibiting him from performing any function in relation to any regulated activity within the 28-day deadline.

The notice read: “Mr Potter is not a fit and proper person to perform any function in relation to any regulated activity carried on by any authorised person, exempt person or exempt professional firm, as his conduct demonstrated a serious lack of honesty and integrity.”

It added: “In sentencing Mr Potter, the judge stated that Mr Potter was dishonest, and created schemes to be sold to high net worth clients so that he could benefit financially.

“The schemes involved conspiring with others in the creation of annual accounts that were required for those schemes and in the underlying support for figures within accounts that were “a carefully orchestrated, contrived and fictitious merry-go-round of money and false accounting.

“The judge also stated that Mr Potter played on his qualification as a chartered accountant and past employment to bolster his credibility and plausibility and that Mr Potter’s culpability in the dishonest schemes was very high.”