Just when you thought it was safe to say the word Venture Capitalist out loud once again those secret faces behind SAGA and AA have been busted by the BBC who have revealed that despite making whacking great profits between them, the two companies did not pay Corporation Tax last year.
Oocha Momma... how did AA and SAGA swing that then? Well, brighter minds out there tell us it is because of the debts the company has and the fact the repayment structure wipes out the profits.
I just cannot figure this out, how do companies that big get away with taking such action yet hard working SME's who could really do with a tax break (if only so as to have more money to grow and re-invest) have to pay their full whack.
VC's have done themselves no favours with a number of recent decisions a load of them have taken, and this will not help their public reputation.
Is it me? do you think this is fair?
Where are the judges when you need them?