Unpaid Tax

[JohnD]

"The oil company Prax Group, which collapsed into insolvency last weekend, owes the UK government as much as £250mn in unpaid taxes, according to two people with knowledge of the situation.

The people did not identify which Prax company owes the money or whether it relates to one or several entities. However, the outstanding debt to HM Revenue & Customs had been part of recent discussions between Prax and the UK government, they said."

FT.com


One wonders how long they had been able to get away with it.

If you or I owed a few thousand or a few hundred in, say, overpaid benefits, or inpaid fines, we'd have it deducted or be taken to court quite quickly.

 

[JohnD]

(The Lindsey refinery, which produces about a tenth of the UK’s fuel and is one of only five such facilities left in the country, has been placed into receivership, putting more than 400 jobs at risk.

Husband and wife Sanjeev and Arani Soosaipillai founded Prax in 1999 with a single petrol station near St Albans, north of London, and grew it into a sprawling oil company with annual revenues of more than $10bn.

Neither Sanjeev, Arani nor their business have made a statement since the Prax parent company State Oil entered insolvency.

The outstanding tax obligations have not previously been reported. One of the people with knowledge of the situation indicated that some or all of the unpaid amounts related to fuel duties that are paid by suppliers and then generally passed on to customers at the pump.)


FT.com

 

[diy_fun_uk]

If you or I owed a few thousand or a few hundred in, say, overpaid benefits, or inpaid fines, we'd have it deducted or be taken to court quite quickly.

They have the average punter by the short and curlys when it comes to our income and taxation.

If you're not on PAYE however and are loaded ...

 

[JohnD]

An easy ride for the rich.

Happens a lot.

 

[motorbiking]

Tax year ends April, I settle up end of January. Normal.

 

[chirpychippy]

If you or I owed a few thousand or a few hundred in, say, overpaid benefits, or inpaid fines, we'd have it deducted or be taken to court quite quickly.

Unless you have a multimillion pound business and can afford the best accountants and the best solicitors to fabricate the books and keep the HMRC away, all whilst still taking high dividends.

According to the "Company Check" they have 1bn in assets and 1bn in liabilities with a net personal worth of 411mn.

So they have enough dosh to pay their 250mn tax bill and still be comfortable for the rest of their natural lives.

 

[Deluks]

They'll get off lightly, Starmer is more interested in going after pop groups.

 

[Murdochcat]

An easy ride for the rich.

Happens a lot.

And much easier for tradespeople

Tax evasion is common these days and there is little governments can do about it