Dex International Ltd, a money service business that had its licence revoked without notice, as well as the fit and proper status of its director. As a result of considerable investigation of the evidence, continuous negotiations with HMRC and further to the lodging of appeal to the Tax Tribunal, the company’s supervisor agreed to a stay proceedings and accept re-applications from both the company and the Director. The company is now trading successfully and has gone from strength to strength.
MT Global Ltd. The company had its licence revoked without notice, as well as the fit and proper status of its director and MLRO. Following initial investigations, it was also issued with a penalty of 23.8m. After significant work, interviews, correspondence and negotiation with HMRC, this was reduced to £1.9m. The company is currently going through the appeal process in the Tax Tribunal, in relation to all points.