The cases relate to VAT frauds involving mobile phones and computer chips, the so-called ‘carousel fraud’ scams. The largest case involved a £162m loss to the British taxpayer, and it is believed that £2bn a year is lost in total to the scams.
The scams exploit a loophole in European Single Market rules where VAT is only paid on transactions inside EU countries, but not on trades between them.
Companies would import goods VAT-free from other EU states and then sell them on in Britain, charging VAT.
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