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Mobile phone VAT fraudsters jailed

Four men from Kent, involved in a £28 million “missing trader” VAT fraud have been jailed for a total of 27 and a-half years. They committed the multi-million pound fraud, claiming fraudulent VAT repayments for mobile phones and computer chips imported from Europe and the United States.

Her Majesty’s Revenue and Customs (HMRC) investigators successfully stopped attempts to claim VAT repayments worth over £18 million.

John Cooper, Assistant Director Criminal Investigation, HMRC, said:
“This fraud made huge profits for the gang members at the expense of UK taxpayers. The techniques used by HMRC officers in this long and complex investigation have resulted in the successful prosecution and imprisonment of those involved. We will now seek to recover the profits of crime.”

Stuart Coleman, Money Laundering and Fraud Reporting Officer at ABDS comments:
“The fraud involved the sale of phones and computer chips through a contrived supply chain of UK traders. A company involving all four of the accused, Amber Communications Management Ltd (ACM), then exported the goods principally to Switzerland or Dubai. The UK traders at the start of the supply chain – which in some cases were set up purely to commit the fraud – failed to pay to HMRC the VAT they had charged on their original supply.”

If you need any help and advice with VAT or other tax matters, contact Lavinia Newman Stuart Coleman or Tonmoy Kumar now to discuss how ABDS can help bring their experience to these matters.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients
Mindful of our client’s long term strategic goals

Helping Your Business is Our Business
 

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