The newspaper has agreed to pay ‘a sum by way of damages to a charity of
Tesco’s choice and a payment by way of costs’.
When Accountancy Age contacted The Guardian for details around
figures and the nominated charity, a spokesperson was unwilling to disclose
The reports published in The Guardian were entitled ‘Tesco’s £1bn tax
avoiding plan move to the Cayman Islands’ and ‘Every little bit helps: tax
free pot of gold at end of Tesco’s rainbow’ on 27 February, 2008.
The Guardian’s apology read: ‘In these articles we reported that Tesco had
created an elaborate off-shore corporate structure to avoid paying up to £1bn in
UK corporation tax on profits from the sale of its UK properties… we now
accept that these damaging allegations were unfounded and should not have been
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements