BusinessCompany NewsHMRC arrests five men over VAT fraud

HMRC arrests five men over VAT fraud

A HM Revenue & Customs investigation has seen five arrests for alleged money laundering and VAT fraud

An HMRC investigation into suspected multi-million pound VAT fraud and money
laundering has led to five arrests.

Four men, from Staffordshire and Greater Manchester, were arrested on 10
August for conspiracy to cheat the revenue, and money laundering offences. All
are purported to work in the motor home and caravan industry.

Gary Lampon, assistant director of criminal investigation for HMRC, said
tackling fraud was one of the Revenue’s “top” priorities.

He added the raids were the result of a “lengthy” investigation codenamed ”
Quicksilver” by HMRC.

The men arrested are part of an organised crime syndicate. It is believed the
group created a chain of companies and false paperwork for the sole purpose of
reclaiming VAT.

The syndicate recouped VAT money on purchases of equipment in the UK which it
then allegedly exported to the European Union. HMRC believes the goods never
existed.

HMRC officers searched nine premises consisting of seven domestic and two
commercial.

Further reading:

HMRC
instigates first carbon fraud raids

Accountant
jailed for VAT fraud

Carousel
fraud costs HMRC £2bn in VAT revenues

Related Articles

KPMG UK breaks £2bn barrier, while partner pay falls

Accounting Firms KPMG UK breaks £2bn barrier, while partner pay falls

1y Stephanie Wix, Writer
Menzies looks to secure future for London Welsh RFC

Accounting Firms Menzies looks to secure future for London Welsh RFC

1y Stephanie Wix, Writer
ACCA announces partnership with RD Tax Solutions

Accounting Standards ACCA announces partnership with RD Tax Solutions

1y Stephanie Wix, Writer
Disputed 'transfer pricing' tax up 60% to £3.8bn

Company News Disputed 'transfer pricing' tax up 60% to £3.8bn

1y Stephanie Wix, Writer
Analysis: Q3 statistics show Brexit insolvency rise and 'shadowy' behaviour

Business Regulation Analysis: Q3 statistics show Brexit insolvency rise and 'shadowy' behaviour

1y Stephanie Wix, Writer
Record funds raised from tax relief schemes

Company News Record funds raised from tax relief schemes

1y Stephanie Wix, Writer
HMRC wins £1m VAT battle against environmental charity

Company News HMRC wins £1m VAT battle against environmental charity

1y Fraser Simpson, Reporter
MHA MacIntyre Hudson picks Berry as Midlands partner

Accounting Firms MHA MacIntyre Hudson picks Berry as Midlands partner

1y Fraser Simpson, Reporter