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How to avoid duping by VAT fraudsters: Money Saving Expert

Posted by Phil Voice on January 26, 2011 at 1:43pm in Business
Here's a new twist on how VAT payment are abused. Source: Moneysavingexpert.com How to avoid duping by VAT fraudsters Consumers should beware firms that illegally charge VAT and then pocket the cash meant for the taxman. Some companies use a false VAT registration number to dupe customers into thinking part of their payment is given to the Government as tax when it is actually used to maximise profits. As a result, many pay over-inflated prices for goods and services, with the problem compounded by the VAT rate rise from 17.5% to 20% earlier this month. Read the rest of the article here.
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Tags: cash, deal, duped, fraud, rogue, swindle, tax, trader, vat
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  • Sarah Russell January 26, 2011 at 2:10pm
    I heard about this on the morning news last week - I must say it is something that had never occurred to me - and how do you challenge someone if you think they may not be VAT registered?  There is always someone trying to pull a fast one.
  • chris nangle January 27, 2011 at 8:36am

    now vat is 20% I think there will be a huge rise in "the how much for cash "

     

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