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Something I've not heard of before from the HMRC

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Interesting. 

As the article points out carousel vat fraud is common inmany industries . I wonder why construction has been singled out here as, as the article states, construction firma aren't even a major source of carousel vat fraud. 

And the change was proposed 2 years ago so it predates the collapse of carillon. 

I used to be an accountant for a firm which exported IT components to Italy. Carousel VAT fraud was rife there and I was interviewed by the police several times. 

 

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5 hours ago, regprentice said:

Interesting. 

As the article points out carousel vat fraud is common inmany industries . I wonder why construction has been singled out here as, as the article states, construction firmak aren't even a major source of carousel vat fraud. 

And the change was proposed 2 years ago so it predates the collapse of carillon. 

I used to be an accountant for a firm which exported IT components to Italy. Carousel VAT fraud was rife there and I was interviewed by the police several times. 

 

Construction has been singled out, I suspect, because the revenue has been paranoid about it for many years. Not wholly without justification. But on general grounds, not especially for VAT.

They also "like" antique dealers, or so one or two antique dealers tell me.

They have a habit of being behind the curve in that their latest fad has been overtaken by another, carousel fraud, so  I heard, was more or less undetected for quite a while despite its immense scale. Interested to know if anyone else ever heard that?

 

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  • 386 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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