A Fife businessman is under investigation on suspicion of a £500,000 VAT fraud.
HM Revenue and Customs (HMRC) officers raided one domestic and two business premises in Fife on Tuesday morning.
The officers seized business records relating to the suspected £500,000 VAT repayment fraud. The man was questioned by HMRC and then released pending further investigation.
The operation is linked to the taskforce looking at fraudulent VAT repayment claims that was launched in Scotland last month. The HMRC taskforce targets intensive bursts of activity at specific sectors and locations where there is evidence of a high risk of tax evasion and fraud.
HMRC has launched 54 taskforces since 2011 and 16 are planned for 2013-14 and up to 30 for 2014-15.
HMRC criminal investigation assistant director, Anne-Marie Gordon, said: “HMRC takes tax fraud extremely seriously and anyone deliberately choosing to evade tax faces criminal prosecution as well as significant fines.”
