Jail for Formula 1 clothes supplier

The director of a Formula 1 clothes supplier has been jailed for four years after making more than £600,000 from tax evasion. Peter Davis, 58, who worked for Formula1 Teamware, allegedly spent the money he fraudulently claimed on a property in Spain while taxpayers’ money supported his father’s elderly care, a court heard. The business director evaded payment of VAT by trading as ‘Salerno’s restaurant’ from October, 2008 to December 2013, Southwark Crown Court heard. During the five years, he…