Construction: UK's tax authority arrests 21 over fraud allegations
Her Majesty's Revenue and Customs, the principle tax authority in the UK, has arrested 21 people and is alleging a multi-million pounds tax fraud.
Most Recent - This Section
Construction: UK home sales show signs of doubt in recoveryConstruction: Colorado mall owners oppose compulsory purchase for redevelopment
Construction: it's the Burj, but not as we know it
Construction: Australian trade bodies present a generally dismal picture
Construction: UK's tax authority arrests 21 over fraud allegations
Most Recent - Whole Site
The Risk Professional: Green Capital Consulting GroupLegal Professional: Baker Mac lawyer guilty of money laundering and securities fraud
Sales and Marketing: shooting oneself in the foot
Business Crime: Dear Mrs Kate Dave: Yes, please. Send it now.
The Risk Professional: Is your data secure enough for the UK's ICO?
Most Recent - BankingInsuranceSecurities.Com
Sanctions: USA PATRIOT Act designation 20120522Sanctions: OFAC Update 20120515
Sanctions: OFAC update 20120508
Sanctions: OFAC Update 20120517
Sanctions: OFAC Update 20120517 - 2
18 men and 3 women were arrested in the west Midlands, London and Manchester.
HMRC says that it has recovered GBP73,000, illegal narcotics and details of bank accounts. Computers have also been taken away for examination.
HMRC says that the arrests relate to allegations of a version of "missing trader" VAT fraud. But it is also suspected that "thousands of construction workers" may have believed that tax and national insurance contributions deducted from their pay had been handed over - but the money was never passed to HMRC.
HMRC says that it has evidence that a network of companies was set up and subcontractors engaged through them. The companies were intended, HMRC says, to collect moneys due to the Revenue and then disappear before the money was paid.
More than 40 search warrants were executed in the raids under the name Operation Viper.
Download PDF version of this page
