Another Spin Of The Carousel

Carousel fraud has had a lot of publicity in recent weeks receiving both national press and TV coverage of how the fraud operates its detrimental effect to the Exchequer and the UK taxpayer generally.

HM Revenue & Customs have had a difficult job in combating carousel fraud and the European Court's decision in the widely reported Bond House Fulcrum and Optigen cases was initially seen in many reports as a defeat for the policy of disrupting the trade in CPUs by refusing to allow VAT recovery. However as Monty Raphael and Neil Swift pointed out in their article...