Following a 21-month investigation, HM Revenue and Customs officers have made 17 arrests across the north-west of England and Wales in alleged £20m VAT missing trader fraud.
Those arrested are believed to be part of an organised crime group operating a network of companies that 'carouselled' large quantities of mobile phones and other low volume, high value goods, buying them VAT-free from across the European Union and then selling them on to businesses in the UK, then defaulting without paying the VAT due.
Euan Stewart, director of operations, criminal investigations, for HMRC said: 'Tackling missing trader fraud is HMRC's top priority. We have a duty to protect the revenue given the scale and nature of the attacks we are seeing. Today's arrests are the result of a lengthy investigation by dedicated officers who work tirelessly, fighting criminal attacks on the tax system."
Further reading:
Anti-fraud measures slowing VAT registration
Carousel fraud: put the brakes on
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