TaxAdministrationSeventeen arrests in VAT fraud swoop

Seventeen arrests in VAT fraud swoop

Officers investigating £20m missing trader fraud

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

BDO report: massive rise in business fraud

Related Articles

HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

2w Emma Smith, Managing Editor
HMRC issues updated Trusts Registration Service guidance

Administration HMRC issues updated Trusts Registration Service guidance

2w Emma Smith, Managing Editor
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

2m Austin Clark, Reporter
Are you ready for the Trusts Registration Service?

Administration Are you ready for the Trusts Registration Service?

3m Helen Thornley, ATT Technical Officer
Advisers bullish despite Brexit concerns

Accounting Standards Advisers bullish despite Brexit concerns

1y Fraser Simpson, Reporter
Brexit: Five questions accountants should be asking

Accounting Firms Brexit: Five questions accountants should be asking

1y Fraser Simpson, Reporter
UK votes to leave EU – accountancy profession reacts

Accounting Firms UK votes to leave EU – accountancy profession reacts

1y Fraser Simpson, Reporter