Cable quizzes HMRC on carousel fraud delays

Cable quizzes HMRC on carousel fraud delays

Vincent Cable asks parliamentary questions about delays to VAT repayments for small businesses as a result of carousel fraud

Lib Dem shadow chancellor Vincent Cable has quizzed the government on delays
to VAT repayments for small businesses, as the tax authorities were urged to
chase down tax advisers and other professionals involved in carousel frauds this
week.

Cable asked parliamentary questions on the delays, which have made life
difficult for small companies caught up in the scams.

Paymaster General Dawn Primarolo said
HMRC would deploy 600 extra staff on the
work because it had ‘a duty to protect tax revenues’ and needed to verify claims
to ensure they were properly payable and were acting ‘on the basis of perceived
risk’.

For more on carousel fraud, click here

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource