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.
Keep it with BizAsiaLive.com for the latest.