Jenny Goldring leading Ini Udom (both of 5 St Andrew’s Hill) and Howard Watkinson (9-12 Bell Yard) acted successfully for HMRC in proceedings brought by Rioni Limited challenging HMRC’s decision to deny the company a total of over £23 million in VAT repayments.
The First-tier Tribunal (Tax Chamber) released its decision rejecting the company’s appeal on 20th April 2015, finding that it knew that its transactions were connected with fraud, namely a complex MTIC (missing trader intra community) fraud scheme.
The case concerned both basic MTIC fraud and contra-trading. There were over 150 lever arch files of evidence, complex financial evidence regarding the tracing of monies through FCIB bank accounts, and expert evidence regarding the grey market.
They were instructed by Joshua Carey at HMRC, assisted by Lawrence Collins and Julian Pozimski.
The preparation for this case took many years. A big thank you to all the team for the hard work involved.