A Billionaire businessman’s accountants win £25,000 after appealing against a personal tax bill of £37.50.
Ian Napton trousers £25,000 from HMRC by way of apology for any inconvenience the tax demand caused. The accounting error occurred when one of the Office Junior’s forgot to carry the three.
“I was very clear when I engaged my accountants that I did not intend to pay any tax on my vast holdings. The company assured me that as I was very, very rich, I wouldn’t have to. So, when the tax-demand arrived I summoned them to explain themselves.”
“They were charged with getting the money back, plus costs, penalties and interest. Failure to do so would have seen them dismissed with their reputation for tax avoidance tarnished and their bill unpaid. Worst of all, their guarantee means they would have had to pay the £37.50 to HMRC.”
An HMRC spokesman confirmed that they failed to collect the £37.50 due and had paid Mr Napton the sum of £25,000 by way of apology. “We realised we’d charged a very wealthy gentleman tax and this was completely wrong. It’s important that we allow the very wealthy to keep their money so they can invest it off-shore.”
Bizarrely the Junior Accountant responsible, has been promoted. Company profits have risen as news of the refund spread. The Exceedingly Wealthy are delighted by the opportunity to collect an annual tax refund, simply by forgetting to carry the three.