Commentary

V7.315 HMRC approach to MTIC fraud

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.315 HMRC approach to MTIC fraud

Part V7 Tax planning | Commentary

V7.315 HMRC approach to MTIC fraud

The basic argument put forward by HMRC is that a person in business can only trade successfully if he is aware of the market price of goods he buys and sells. So if an unknown supplier suddenly offers him an excellent deal, he should seriously challenge the reasons for the low price on offer. To quote the phrase used by HMRC, it is expected that the buyer will 'take reasonable steps to verify the integrity of the supply chain'. In simple terms, if something sounds too good to be true, it probably is!

HMRC will

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