VAT Fraud!

VAT fraud is the most common form of VAT fraud discovered by HMRC in the course of their enquiries, risk assessment and investigations.

This is from a variety of taxpayer errors such failing to register, understating your correct VAT liability by suppressing sales or inflating purchases, or both! Cash trades are always in focus at HMRC with hospitality, take-aways, restaurants, pubs, hairdressers, market traders, travelling fish roundsmen, taxi drivers being some of those trades regularly targeted by HMRC.