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
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016