Allegations of Tax Avoidance
In 2006, Andrew Mitchell invested funds in privately owned firms implicated in a tax avoidance scheme. The article in the Daily Telegraph claimed that a subsidiary of DV3 purchased the lease on the Dickins & Jones department store building in central London for £65.1 million and sold it a month later to a partnership controlled by DV3 for £65,100, thus avoiding stamp duty.
Read more about this topic: Andrew Mitchell
Famous quotes containing the words tax avoidance, tax and/or avoidance:
“Tax avoidance means that you hire a $250,000-fee lawyer, and he changes the word ‘evasion’ into the word ‘avoidance.’”
—Franklin D. Roosevelt (1882–1945)
“People buy their necessities in shops and have to pay dearly for them because they have to assist in paying for what is also on sale there but only rarely finds purchasers: the luxury and amusement goods. So it is that luxury continually imposes a tax on the simple people who have to do without it.”
—Friedrich Nietzsche (1844–1900)
“The American Dream, the idea of the happy ending, is an avoidance of responsibility and commitment.”
—Jill Robinson (b. 1936)