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HMRC ‘insider fraud’

1st Feb 2018
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Most of us have better things to do than read the HMRC quarterly performance updates. This incident is found in the latest:

  • Six members of a gang, who stole more than £2.4m in VAT payments have been jailed for more than 24 years. A three year investigation uncovered a highly organised fraud and found insider knowledge was used to identify unallocated VAT payments (where insufficient details are held to enable HMRC to correctly allocate it to an account) and fraudulently pay them to specified business accounts provided by accountants, who then used their clients’ companies to claim the VAT payments for themselves. The investigation came to light when a legitimate taxpayer of an unallocated payment queried why their account had not been credited and a vigilant employee noticed that further payments had been misallocated to the same incorrect trader. An HMRC spokesperson said “we will not tolerate corruption at any level and will pursue those responsible and bring them before the courts.” Confiscation proceedings to recover the gang’s criminal profits are ongoing.

https://www.gov.uk/government/publications/hmrc-quarterly-performance-update-october-to-december-2017

 

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