More complex cases see multiple transactions between a series of companies. Each transaction, apart from the original, charges VAT to the buyer. There are many cases where such transactions are perfectly legitimate but, in a bid to crack down on VAT fraud, it is possible that HMRC could seek prosecution against companies that are acting perfectly within the law.
The implications of VAT fraud are considerable. Not only will a company that is found guilty have to repay all of the VAT they have collected but they face severe financial penalties and may be forced to repay any profits that arose from the use of the money that was allegedly, fraudulently collected. Furthermore, any individuals found guilty of tax fraud face imprisonment and other forms of penalty.
Freeman & Co Solicitors have considerable experience dealing with a wide variety of cases, including financial cases and those involving alleged VAT fraud.
As market leaders in all matters of criminal defence, Freeman & Co. Solicitors are really easy to contact. You can call us on 0161 236 7007 or send us a confidential email by clicking here.
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