The payment is understood to be half of the original £1.6m that Mayo sought in his claim put in last November the day after the Accountancy Age Awards for Excellence , in which he was a judge.
The settlement is a top-up payment in addition to the £1m severance pay which Mayo took in full when he left Marconi in July 2001 after a massive profits warning which led to the company’s financial crisis.
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