Lycamobile faces fine after tax issue

Lycamobile is facing a fine after it failed to file “acceptable” accounts.

According to MediaGuardian, the phone card company, which has given the Conservatives more than �1.5m since 2011, is already facing the possibility of a �9.5m bill from HM Revenue & Customs for unpaid tax.

The set of accounts should have been filed with Companies House in November last year.

A spokesperson for Companies House confirmed the developments to the Guardian. It said, ���If the accounts are not received, Companies House will consider prosecution action against the directors.”

Accounts from previous years show that Lycamobile�۪s UK arm did not pay any tax between 2008 and 2010, despite generating a turnover of between �47m and �88m.

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