HMRC Is Shite

HMRC Is Shite
Dedicated to the taxpayers of Britain, and the employees of Her Majesty's Revenue and Customs (HMRC), who have to endure the monumental shambles that is HMRC.

Wednesday, 15 April 2015

HMRC Loses £75M on Phones4U

The FT reports that approximatley £170m owed to unsecured creditors in collapsed mobile phone retailer Phones4U will be almost entirely wiped out.

Unsecured creditors to the retail chain are owed about £168m but are only likely to receive 0.4p for every pound, PwC said. These include HMRC, which is owed about £75m in VAT and corporation tax.

However, creditors who own Phones4U’s £430m worth of senior secured notes, which are listed on the Irish stock exchange, “may recover” 20 per cent to 24 per cent of their money, as their debt ranks higher up the legal ladder for repayment priority in an insolvency.

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance

HMRC Is Shite (, also available via the domain, is brought to you by "The Living Brand"


  1. About time the mighty HMRC got a bloody nose...... fucking idiots!!!!!!

  2. How is this giving HMRC a bloody nose?

  3. My concern is more for the businesses that are owed £93 million. HMRC are not going to have trading difficulties, or go out of business because of this debt. Look at the billions they allowed to be reclaimed in VAT via MTIC when it was all obviously a scam from the outset