The company criticised the government despite its recent compromise over the treatment after backing down over their initial reluctance to overhaul the national insurance treatment of dot.com companies’ share options.
The solution put forward by the government was to move the tax burden away from the companies and on to the individual shareowners when they exercise the options.
But QXL chief executive Jim Rose said the move was ‘not an appropriate or valid solution’ and added QXL would not adopt the policy.
The company had to set aside £11.6m for the last year and £4.4m in the last quarter ending 31 March – greater amounts than company turnover.
He reported a loss of £75.8m, with fourth quarter losses of £23.7m.
New growth opportunities in Aberdeen, North East Scotland, are being invested in by Grant Thornton
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
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