Tax avoidance case hits Ladbrokes with £71m penalty

This weekend, business news sources reported that Ladbrokes has lost an appeal over a tax avoidance case. After judges ruled against the company, it has been hit with a £71m tax charge relating to an overturned UK Revenue & Customs (HMRC) “2008 tax avoidance “ scheme. The UK Tax Tribunal stated that Ladbrokes Group and its auditor Deloitte knowingly exploited a 2008 tax loophole relating to loans between corporations and third parties to mi...