Don Mavin Director of VAT/Customs & Excise Investigations at WJB Chiltern comments on the measures introduced by Customs in the Budget and the recent VAT Tribunal decisions on carousel VAT fraud
The 'shock and awe' effect of the new anti-fraud measures (included as Clauses 17 and 18 of the Finance Bill) announced in the Budget to tackle missing trader fraud in VAT is beginning to calm down but there remains doubt and confusion in the trades affected. Furthermore within a few weeks of the Budget announcement an important VAT Tribunal decision (Bond House Systems Ltd (VTD 18100)) involving carousel trading was released. This upheld Customs' view that such trading had a fraudulent objective and was devoid of economic substance regardless of any ignorance or innocence of wrongdoing of...
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Don Mavin Director of VAT/Customs & Excise Investigations at WJB Chiltern comments on the measures introduced by Customs in the Budget and the recent VAT Tribunal decisions on carousel VAT fraud
The 'shock and awe' effect of the new anti-fraud measures (included as Clauses 17 and 18 of the Finance Bill) announced in the Budget to tackle missing trader fraud in VAT is beginning to calm down but there remains doubt and confusion in the trades affected. Furthermore within a few weeks of the Budget announcement an important VAT Tribunal decision (Bond House Systems Ltd (VTD 18100)) involving carousel trading was released. This upheld Customs' view that such trading had a fraudulent objective and was devoid of economic substance regardless of any ignorance or innocence of wrongdoing of...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
