The UK’s battle against carousel fraud took a positive
step forward when chancellor Gordon Brown announced that France had agreed to
drop its refusal to go along with new rules to combat the problem.
Brown said that France’s move left him confident that the introduction of
reverse charge rules would stop the VAT
fraud, which has cost the taxpayer an estimated £5bn in the last year.
Some European countries have voiced fears that the UK’s rules would see the
problem move to other jurisdictions. Germany and Austria have objected to the
reverse charge rules.
HMRC compliance crackdown targets SMEs, resulting in £468m for year ending 31 March 2016
Report argues that the government must change the way it makes tax and budget decisions
Partner at Pinsent Masons says Serious Fraud Office has secured 'one of the top ten enforcement actions of all time'
Committee expresses concern about costs to businesses and April 2018 implementation date