HMRC arrest three during investigation into suspected £300m corporation tax scam

Posted on

Source: HMRC Press Release,  Jun 29, 2016 11:05 BST

Three men have been arrested in connection with an investigation, by HM Revenue and Customs (HMRC), into a suspected attempt to fraudulently claim £300 million in Research and Development (R&D) tax credits.

R&D tax relief is an incentive for certain businesses to undertake research and development, helping to support innovative companies in the UK. The suspected fraud, had it been successful, would have been worth an estimated £300 million over five years.

Martin Brown, Assistant Director, Fraud Investigation Service, HMRC, said:

“While an attack on the tax system is often thought victimless, it isn’t. It means that the public lose out on vital funds for essential services. Any abuse of the R&D tax relief scheme is defrauding a system put in place to help legitimate businesses grow and develop. …..  No one is beyond our reach.”

Read the complete HMRC Press Release here



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s