MTIC Fraud or Carousel fraud is committed when one or more parties within a trading transactional chain deliberately default on making the VAT payments falling due as the result of whatever ‘trading’ fronts the fraud.
In general terms, fraudsters purport to import goods VAT-free from other countries, sell the goods to domestic buyers, charge the VAT and the companies responsible for payment of the tax then disappear, along with the unpaid VAT. The ‘trading chains’ are normally lengthy, complicated, frequently draw in companies from different countries to try and disguise the deception even more and, in many cases, the goods alleged to be traded do not exist, with the fraud hiding behind a web of fictitious invoices.
Her Majesty’s Revenue & Customs (HMRC) loses an estimated £11 billion per year due to VAT fraud. HMRC makes it a priority to investigate such frauds in order to prevent VAT evasion.
HMRC have their own internal team of detention officers who have powers of arrest, entry search and detention. HMRC can arrest an individual who has committed or is thought to have committed a criminal offence.
How Can We Help? | Kangs VAT Fraud Defence Solicitors
Kangs Solicitors has developed a nationwide reputation for its involvement in a majority of the major MTIC fraud trials throughout the country over the last fifteen years. Our team is led by Hamraj Kang who is widely recognised as an expert in defending MTIC/VAT fraud allegations on behalf of corporate entities and individuals.
Kangs Fraud Team has a wealth of experience in representing professionals accused of being involved in fraud. We understand the potentially devastating effect such an investigation can have on an individual’s career.
We are able to offer discreet, proactive and pragmatic representation to guide you through an investigation of this nature.
We are regularly instructed in investigations brought by the Serious Fraud Office, the Financial Conduct Agency, the City of London Police and Scotland Yard’s Fraud Squad.
We are specialists in fraud and this year received national recognition by winning the Legal 500 ‘Crime, Fraud and Licensing Law Firm of the Year’
Contact Us | Kangs Criminal Fraud Defence Solicitors
Should you require any advice in relation to an allegation of fraud please not hesitate to contact one of the following: