Businesses – Be wary of a potential scam that could cost you hundreds of pounds

The Isle of Man Office of Fair Trading is warning businesses to look out for an official-looking letter from a German company concerning “VAT Registration Numbers”.

In the letter it is stated that: “As part of the changes to the EU economic package, obligating all companies to provide their VAT Registration Number on various documents since 2010, we as a publisher of leading internet portals are required to update our database.”

The letter gives the erroneous impression that businesses are somehow obliged to provide the German company with their VAT Registration Numbers. This is not the case.

Completing the form attached to the letter could cost you hundreds of pounds as it states in the small print that there will be a charge of £797 a year for up to four years for the information provided to be published on a “Corporate Portal”.

Anyone who receives one of these letters should not complete and return the form that accompanies it unless they are prepared to pay the £797 per annum.

Further information can be sought from the Office on 686500.