HMRC in “corporate corruption” - tycoon’s estranged wife

by Calum Fuller

More from this author

03 Oct 2013

  • Comments

THE ESTRANGED WIFE of a property and telecoms tycoon has claimed HM Revenue & Customs engaged in corporate corruption during the couple's divorce proceedings.

Michelle Young, the wife of businessman Scot Young, made the claims after she said the agency gave her husband "bizarre" support which she alleges cost the taxpayer millions of pounds.

Mrs Young levelled the allegation when HMRC lawyers said they would "vigorously oppose" measures to terminate the bankruptcy of Mr Young in 2010, the Independent reports.

Lawyers for Mrs Young hold that the insolvency is false and has been used to impede the divorce proceedings. She applied to annul the bankruptcy but Christopher Buckley, for HMRC, said: "We will be opposing this very vigorously."

Mrs Young claims that her husband hid £400m in offshore tax havens before they split in 2006, and alleges that his friends, who include Topshop owner Sir Philip Green and restaurateur Richard Caring, are a "conduit for his secreted wealth".

HMRC said in a statement that it "maintains the highest standards of honesty and integrity at all times in dealings with all its customers".

"We strongly reject any comments suggesting otherwise," it added.

Visitor comments

blog comments powered by Disqus
display:none

Add your comment

We won't publish your address


By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

Submit
  • Send

Newsletters

Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials

Careers

Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you

Briefings

budget-management

Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.

cchcover

iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.