Mark Hammond, 50, of Barrow-upon-Soar, near Loughborough, Leicestershire, evaded payments of VAT and corporation tax for two companies that traded as the Blacksmith Arms bar and restaurant.
He was sentenced to 20 months in prison suspended for two years, and ordered to do 180 hours unpaid work, at a hearing at Leicester Crown Court.
Proceedings to recover the stolen money are underway, HMRC said.
The self-employed businessman had admitted the fraud at a hearing at the same court in August. The court heard a total of £181,189 was stolen, including £136,236 of unpaid VAT and £44,953 of corporation tax.
Nick Stone, assistant director for HMRC’s fraud investigation service said: “Hammond made a deliberate decision to lie to evade paying the tax he owed in order to line his own pockets.
"Now he is paying the price.
“Criminals like Hammond create an uneven playing field for honest, hardworking businesses. That’s something we will not tolerate.”
Anyone with information on this type of crime is encouraged to report it to HRMC online or by calling its fraud hotline on 0800 788 887.