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02 Jan 2008
The taxman has swooped to arrest six people in Scotland to smash a suspected £20m carousel fraud chain.
The arrests followed a 24-month investigation by HM Revenue & Customs codenamed Operation Vaulter, which included 17 arrests last September.
Carousel fraud, also known as MTIC fraud, has been a major problem for the taxman. Small high-value goods such as mobile phones are bought VAT-free then sold on without paying the VAT, with the company going missing.
'[The] arrests are the result of a lengthy investigation by dedicated officers who work tirelessly and diligently, fighting criminal attacks on the tax system,' said Chris Harrison, director of operations, criminal investigations at HMRC.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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