The Financial Conduct Authority has banned independent financial adviser and mortgage intermediary Anthony George from performing any regulated activity in the financial services industry.

It is on the grounds he is not a “fit and proper person”, according to a notice from the regulator.

The FCA said the conduct of George – the director, owner and sole approved person of 4Life Financial Planning Limited (4Life) based in London – demonstrates a “lack of honesty and integrity”.

This is because the regulator found George submitted false information to HM Revenue & Customs (HMRC).

George was said to have understated the income in his self-assessment tax returns over a five-year period between 14 January 2015 and 15 May 2019.

In addition to this, he concealed this information from the FCA and provided it with information which he knew to be false during a compelled interview.

During the relevant period, George did not inform the accountancy firms which prepared and submitted his tax returns that he had additional income.

That includes two cash-in-hand businesses: a hair salon and a DJ business.

George also received rental income from letting out a room in his house.

He was also found to have appointed a separate accountancy firm to prepare an alternative version of his tax returns.

This version included all of his sources of income for the tax years 2013/2014 to 2015/2016.

George submitted the lower income tax returns to HMRC and used the higher income tax returns for a personal mortgage application.

His total income as stated in his mortgage application was £367,757 higher than the income he had declared to HMRC over the same three-year period.

He also used the income figures from the lower income tax returns to claim working tax credits.