Patisserie Holdings – a good old-fashioned VAT fraud?
We will have to wait and see what really happened at the cake and café group, in the meantime we have gone over our previous analysis, done some further digging and have a few theories…
Piecing together all the snippets of news coming out of the company, we have our suspicions that the heart of the scandal at Patisserie Holdings might just be a good old-fashioned VAT fraud. The different VAT rates applicable to eat in and takeaway food facilitate a great deal of creativity and could also be a contributory factor. The failure of correctly reporting this to HMRC could have concealed a large chunk of VAT due. It’s surely one of the easiest things to fudge in a business like this and while we haven’t yet been told what tax this relates to,…