The estimated loss of revenue to UK Government in recent years annually is in excess of £10 billion meaning Her Majesty’s Revenue and Customs (HMRC) now have specialist teams in this area thus resulting in more fraud cases being prosecuted.
VAT fraud usually involves long and complex investigations carried out by HMRC. If you are accused or under investigation by HMRC it is important to get expert legal representation from experienced solicitors to ensure a robust strategy can be formed in relation to the investigation or case before the Court.
Fraud investigations can be very stressful and having an experienced solicitor on your side can help ease the burden. Specialist advice for any investigation into VAT fraud including carousel fraud can be given by one of our experienced fraud solicitors.
Carousel fraud (also called Missing Trader Intra-Community – MTIC) is the theft of VAT from a government by organised crime gangs. In its simplest form, a European company imports goods from another European Member State tax free. It then sells the goods onto another company within the same country and charges VAT. In its more complex form, MTIC fraud involves goods carouselling through many different EU Member States, with fraud being committed in several countries before the goods return to the country where the fraud started.
Sheppards Solicitors have successfully represented many clients accused of fraud. At the heart of a successful defence is an organised approach to the defence evidence gathering process from the outset.