HMRC under fire as thousands of 'bogus' Chinese companies exploit lax rules to dodge VAT

HMRC's failure to address widespread tax evasion by Chinese 'burner' companies is crippling legitimate UK businesses and allowing massive tax dodging to flourish.

Critics argue that thousands of shell companies are abusing lax registration and VAT rules in the UK, severely impacting competition and leaving taxpayers to bear the costs.

Mounting evidence indicates that up to 30,000 newly registered Chinese companies have exploited UK addresses this year, often without the knowledge of real property owners.

Industry insiders claim that HMRC's inaction has led to 'industrial levels' of tax evasion, enabling fraudsters to undercut legitimate UK retailers significantly.

Read at Business Matters