Delays last up to 12 weeks, as the crackdown on missing trader fraud hits business start-ups
Accountancy Age, 13 Oct 2006
VAT registrations are being delayed by the crackdown on VAT fraud.
HM Revenue & Customs has admitted that it is checking registrations more rigorously in order to prevent the fraud, raising fears about the impact the crackdown could have on business development.
Delays have lasted as long as 12 weeks, the FT reported. HMRC was quoted as saying that 'in the current climate of criminal attacks on the VAT system, some extra checking is unavoidable'.
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