The magic roundabout
Customs have made missing trader or 'carousel' fraud a number one concern and have developed a number of new approaches to tackling the issue. Neil Gerrard and Matthew Johnson report
Errors, avoidance and fraud relating to VAT costs the Exchequer between an estimated £7.1bn and £10.2bn per year. Businesses that deal innocently with VAT fraudsters can be held liable for unpaid VAT arising out of missing trader fraud, a type of fraud estimated to cost between £1.7bn and £2.6bn per year.
This premium content is reserved for
Legal Week Subscribers.
A PREMIUM SUBSCRIPTION PROVIDES:
- Trusted insight, news and analysis from the UK and across the globe
- Connections to senior business lawyers within the leading law firms and legal departments
- Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
- The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
- Optimized access on all of your devices: desktop, tablet and mobile
- Complete access to the site's full archive of more than 56,000 articles
Already have an account? Sign In Now
For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651