Ernst & Young pocketed £825,000 to advise the government on the
privatisation of bookmaker Tote, a deal which was shelved last October.
Labour opted to retain ownership of Tote ‘for the medium term,’ despite twice
having promised to sell off Tote’s 529 betting agencies and monopoly on pool
betting to the racing industry.
On this occasion, no racing consortium was able to match the Government’s
£400m valuation, The
Telegraph reported. The nearest bid was £80m short.
Tote is not performing well in public hands. Its accounts show profit
declined to £8.7m in the year to March 2008, from £17m the previous year.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
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
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy
A senior MP has questioned the impact of HMRC’s decision to undertake yet another radical overhaul of its internal structure