Zinc chasing old C L Finance CCJ's

[cerberusalert]

Channel 4 Dispatches has discovered that Apex Credit Management Ltd- through a complicated structure of trading and intermediate companies - is ultimately controlled by Anacap Financial Partners - a firm based in the tax haven of Guernsey.

 

Richard Murphy says: "The very existence of a Guernsey holding company, Luxembourg intermediate company, UK trading company structure would cause me concern. What it smacks of is tax planning."

 

Richard Brooks, tax expert and former Investigator at HMRC says: "Now the private equity industry would say what's wrong with that we're just using the rules that are on the statute book to their best advantage.... Others would say its tax avoidance. But at the very least it seems an odd choice of company to go to, to collect the nation's tax bills."

 

HMRC told Channel 4 Dispatches: "Apex Credit Management Ltd is registered in the UK and fulfilled all the criteria required under the Public Contracts Regulations and there were therefore no legal grounds for excluding them from the tender process."

http://www.channel4.com/info/press/news/hmrc-directors-connected-to-potential-tax-avoidance