HMRC arrest three following suspected £300m tax scam

Three men have been arrested in connection with an HM Revenue and Customs (HMRC) investigation into a suspected attempt to fraudulently claim £300 million in Research and Development tax credits.

More than 30 officers from HMRC searched three residential and one business address during morning raids in the West Midlands yesterday.

Computers and business records were seized during the operation.

Martin Brown, Assistant Director, Fraud Investigation Service, HMRC, said:

The men, one aged 40 from Leamington Spa, one aged 44 from Birmingham and another aged 49 from Coventry, were interviewed by HMRC and have been released on bail.