Wise co-founder charged £365k for ‘deliberate tax default’

Kristo Kaarmann, the co-founder of Wise, the listed money transfer company, has been given a £365,651 fine by HMRC for a ‘deliberate default’ on his taxes in the 2017-18 tax year

Kaarmann was charged £365,651 for a deliberate tax default between April 2017 and April 2018 on a £720,495 tax bill. Kaarmann's default was revealed as he featured on HMRC's recent quarterly list of deliberate tax defaulters.

The penalty from HMRC means that he has been found to have either deliberately provided inaccurate documents, deliberately failed to comply with an obligation to notify HMRC about his circumstances, or committed wrongdoing in relation to VAT or excise.

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