Outsourcer Serco is to re-pay the Government �68.5 million in the wake of the electronic tagging scandal. The FTSE 250 firm also admitted its own cost of investigating contracts had spiralled to as much as �36 million.
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.
BT today blasted regulator Ofcom for imposing �unfair� rules on Britain's biggest telecom company, claiming that they benefit rivals such as BSkyB and TalkTalk who gain wholesale access to its network at �artificially low prices�.
(Reuters) - Vodafone Group Plc (VOD.L) has received a final tax demand of about $604 million from Indian authorities, adding to its tax disputes in the country since it bought Hutchison Whampoa's (0013.