Taxation: VAT Carousel Fraud

House of Lords written question – answered on 27th March 2007.

Alert me about debates like this

Photo of Lord Steinberg Lord Steinberg Conservative

asked Her Majesty's Government:

What estimate they have of the total funds being investigated in current prosecutions of mobile phone operators in missing trader and carousel fraud.

Photo of Lord Davies of Oldham Lord Davies of Oldham Deputy Chief Whip (House of Lords), HM Household, Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords)

HMRC has a duty to protect tax revenues and does so through a multi-faceted strategy using a range of interventions. The investigation of MTIC fraud is directed on the basis of perceived risk and not limited by specific products or sectors. Although the majority of all MTIC fraud seen so far has been perpetrated using mobile phones and computer chips, a wide range of other goods have been, and continue to be, used.

Ongoing prosecutions, resulting from HMRC's criminal investigations, involve some £2.5 billion of VAT. However, this figure is dynamic and changes as further evidence comes to light, and new cases are adopted and current ones completed.

Does this answer the above question?

Yes1 person thinks so

No1 person thinks not

Would you like to ask a question like this yourself? Use our Freedom of Information site.