HMRC takes action to stop renewable energy carousel VAT fraud
The government is cracking down on abuse of renewable energy certificates where fraudsters get involved in complex reselling to steal VAT payments and deprive the Exchequer of revenue.
This is an anti-fraud measure which came into force on 14 June without consultation due to HMRC concerns that this type of VAT fraud was becoming prevalent.
Read more at the Accountancy Daily.
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