Under-fire burger chain Byron is ‘sending money to offshore companies to avoid tax’
August 2, 2016
The Daily Mail Online comments on the offshore funding arrangements of the embattled restaurant chain, Byron Burger. Our Business Risk Adviser, Nick Hood comments on corporate transparency and tax planning:
‘This is yet another classic private equity ownership structure, which maximises shareholder gains and by diverting heavy interest liabilities offshore, creates doubts about its willingness to pay UK tax despite earning substantial profits here.
‘No doubt it is all perfectly legal, but this does nothing to enhance the reputation of the business world.’