LONDON (Reuters) - Britain's financial regulator on Thursday fined insurance broker JLT Specialty Limited over 1.8 million pounds for an "unacceptable" approach to bribery and corruption risks from overseas payments.
A senior politician has accused the tax authorities of losing their nerve while chasing multinational companies. Margaret Hodge, who chairs the Public Accounts Committee, told BBC Radio 5 live's Breakfast: "It is now easier to pay less tax in the UK.
EY, the accounting group, is to pay �1.2m in fines and costs for failing to meet required standards in its auditing of Farepak - the Christmas hamper savings club that collapsed in 2006 owing money to more than 100,000 customers.
Facebook founder and chief executive Mark Zuckerberg is set to sell $2.3bn worth of shares in the social network to pay a tax bill.
British retail sales last month recovered from a fall in October as shoppers bought more winter clothing but not enough to dispel fears of a tough Christmas for retailers.