Cheshire and Manchester arrests in VAT fraud raids

SEVEN  people have been arrested in Cheshire, Manchester,  Guernsey and the Isle of Man as part of an investigation into a suspected £21m VAT and money laundering fraud.

HMRC said “significant amounts of cash and business records” had been sized in its raid on 13 premises as part of  Operation Bannock.

A statement said: “Officers from HM Revenue and Customs, Cheshire Constabulary, National Crime Agency, Guernsey’s Financial Investigations Unit and the Isle of Man Constabulary Financial Crime Unit executed a number of warrants. Simultaneous searches of 13 premises in Cheshire, London, Manchester, Guernsey and the Isle of Man are currently taking place.”

Diane Donnelly, assistant director, criminal investigation at HMRC, said: “Tax fraud is not a victimless crime and every year costs millions of pounds in lost revenue that should be funding public services. No one agency can tackle this alone and we are committed to working with our partner agencies in the UK and abroad to target those who try to attack our tax system.”

It is understood premises in the Knutsford area were among those searched.