HMRC face probe over Vodafone £6 billion tax let-off
Cast your minds back to late 2010 if you can – you might remember some mild kerfuffle regarding Vodafone and the small amount of SIX BILLION POUNDS of tax burden that they managed to talk their way out of.
You might have been inconvenienced when you tried to visit a Vodafone store, only to find that it was full of angry people waving banners and shouting a lot. There was quite a bit of that too in the aftermath of the SIX BILLION POUND LET-OFF REVELATION.
Thankfully, it might not happen again quite so easily in the future. That’s because the National Audit Office have revealed that they are probing the deal along with other big money settlements that HMRC have reached with large firms.
An NAO spokesdude made the whole thing sound all laid-back and groovy when he said: "We are reviewing HMRC's procedures for resolving tax disputes. Given Vodafone and other similar cases, we thought it would be a good idea to look at the procedures by which the settlements are reached.”
The results of the probe will be published in July. Whether it will mean that the public coffers will start being filled up with money that is rightfully paid by large corporations instead of being snatched away from the weakest members of society remains to be seen. Thatcher, eh readers?