Missing Trader Intra Community Fraud commonly referred to as VAT Carousel Fraud is often characterised by the speed and complexity of transactions which combine to create doubt about the conduct of the business.
VAT carousel frauds are complex and usually involve lengthy investigations by HM Revenue & Customs. The investigation requires planning from the defence perspective. CY4OR has experience and expertise in dealing with complex fraud cases involving thousands and sometimes millions of pages or records. We often work closely with Forensic Accountants who will make sense of the financial information from the data CY4OR identifies and provides to them.
In many cases supporting documentation particularly e-mail traffic has been crucial to the case and assists in providing clarity. This type of data must not be overlooked and should be considered at the earliest opportunity to try to halt proceedings at the earliest stage.
Defending Carousel Fraud or MTIC Fraud
At the investigation stage often only a limited amount of evidence is disclosed and it is advisable to examine existing records to preserve evidence and to conduct a preliminary investigation from the defence perspective. The prosecution has to prove their case beyond a reasonable doubt and this is usually one of conspiracy to defraud HM Revenue & Customs.
The prosecution has to prove an agreement between traders that there was an intention to falsely reclaim VAT by an elaborate invoice fraud in relation to traders that may not exist and goods that may not exist. The defence does not have to prove the contrary but it does aid the defence to show there was no conspiracy or to show that actions were for full value and related to real goods.
For further information please call our business development team on 0845 643 7055.