HMRC Update: People involved in transactions connected with VAT fraud

HMRC can publish the names of traders and company officers charged penalties for transactions connected with VAT fraud, under section 69E VATA 1994. This applies only where the business knew or should have known its transactions were linked to fraud, and where the VAT involved exceeds £50,000 (or the officer’s personal penalty exceeds £25,000). HMRC will publish enough information to identify the person or business and the penalty amount, but only once the penalty is final. Details must be removed within 36 months of the penalty becoming final and are not archived. HMRC warns that published information may quickly become outdated and the current business at the address may have no connection with the published person.