Custom Valuation Fraud
What is Custom Valuation Fraud?
Custom valuation fraud is a serious offence in the United Kingdom, and it occurs when individuals or businesses deliberately falsify information about the value of goods they are importing or exporting in order to avoid paying the appropriate customs duties and taxes. This fraudulent practice has serious consequences for the economy, as it deprives the government of valuable revenue, and creates an uneven playing field for legitimate businesses.
In recent years, the UK government has been cracking down on custom valuation fraud, with increased enforcement measures and penalties for those caught engaging in this illegal activity. Despite these efforts, however, custom valuation fraud remains a pervasive problem, with individuals and corporates constantly finding new ways to evade detection.
What are the different types of Custom Valuation Fraud?
One common form of custom valuation fraud is undervaluation, where importers or exporters misrepresent the value of their goods in order to pay lower duties and taxes. For example, they may claim that a shipment of goods is worth less than its true value or that the goods are of a lower quality than they actually are. In some cases, importers may also use false invoices or other documentation to support their claims.
Another form is misclassification, where importers or exporters falsely declare the nature of the goods they are importing or exporting in order to avoid paying the correct duties and taxes. For example, they may declare that a shipment of luxury goods is actually made up of cheaper, less heavily taxed items. Alternatively, they may falsely claim that a shipment of goods is exempt from customs duties and taxes altogether.
To combat custom valuation fraud, the UK government has implemented a range of measures aimed at detecting and preventing this illegal activity. For example, customs officers are trained to identify suspicious shipments and to use x-ray machines and other advanced technologies to detect hidden or mislabelled goods. In addition, the government has established a number of specialised units to investigate and prosecute custom valuation fraud, such as the Fraud Investigation Service and the Border Force Intelligence Command.
How can Jeremy Gordon help?
If you are being investigated or charged with an R&D fraud offence our team of expert lawyers can provide expert litigation and representation. Our lawyers are available 24/7 to assist you and provide legal advice. Contact London +44 7700 158304 or Manchester +44 7700 164107. Alternatively, you can email info@jeremygordon.co.uk
