In recent news, a man has been disqualified for managing a limited company for 13 years following from his involvement in £1million VAT fraud. He was disqualified from his now-dissolved mobile phone company after an investigation by the Official Receiver at the Public Interest (ORPI) Unit, an expert team of the Insolvency Service in the UK.
The specialist unit became involved in the case in January 2013 after there was unpaid VAT to HMRC totalling nearly £647,000. The investigation found that those involved had been involved in a Missing Trader Intra-Community fraud (MTIC), also known as Carousel fraud, where traders acquire high value goods VAT free from EU member states, the common high-value, low-bulk goods are usually mobile phones and computer chips. The trader then charges VAT on these products then they go ‘missing’ to avoid paying VAT charged to the relevant tax authorities.
“MTIC fraud has been a great strain on the public purse and has cost the tax payer many billions of pounds in fraudulent VAT claims. The Insolvency Service is committed to making directors account for their actions,” states Paul Titherington from the ORPI unit.
Stephen Lickrish & Associates, based in Manchester, are leading MTIC and other VAT fraud offence solicitors. Their team consists of highly skilled Solicitors and Para-Legals who offer a high level support to those accused of such offences. Stephen Lickrish Solicitors have years of experience in investigating VAT fraud cases, which can be a lengthy process. In order for a positive outcome for their clients and better management of the case, Stephen Lickrish & Associates suggests that representing the client at the earliest stage is key.
As well as VAT fraud specialists, they deal with a number of cases including money laundering, insurance fraud and restraint orders. For more information on VAT fraud or any of their other legal services available, please visit www.stephenlickrish.com.