The fraud involved buying mobile phones from the continent VAT free and supplying them to businesses in the UK. The carousel occurs when companies then sell the phones back to the Continent, without payment of VAT to the UK Government and without the phones ever being used by a consumer.
Operation ‘Euripus’ tackled businesses and homes across the country as well as searches in Barcelona, Malaga, Majorca and Tenerife.
At one of the business addresses, a tonne of cannabis was also seized.
‘VAT missing trader fraud is not a victimless crime, it costs around £2.5bn a year enabling criminals to fund lavish lifestyles – money that could pay for an extra 100,000 nurses,’ said economic secretary to the Treasury and Customs minister, John Healey.
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay