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Netflix Netherlands and France offices raided in tax fraud probe

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Netflix Netherlands and France offices raided in tax fraud probe

Offices of streaming giant Netflix in Paris and Amsterdam have been raided by the French and Dutch authorities as part of an investigation into tax fraud, French judicial sources say.

Officials from the two countries have been co-operating on the case since the investigation was opened in November 2022.

Netflix has not as yet made any specific comment on the raids, but insists it complies with tax laws wherever it operates.

The Amsterdam office is the headquarters of the company’s operations in Europe, the Middle East and Africa.

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The French investigation is being carried out by the National Financial Prosecutor’s office (PNF), a special unit used for investigations into high-profile white-collar crime.

It relates to suspicions of “covering up serious tax fraud and off-the-books work”, according to the PNF.

The company is also under investigation for tax filings for 2019, 2020 and 2021.

The French sources said authorities in the Netherlands were conducting simultaneous searches, and that co-operation between the two countries had been going on for “many months”.

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Last year, French media outlet La Lettre reported that until 2021, Netflix in France minimised its tax payments by declaring its turnover generated in France to the Netherlands.

After it abandoned this arrangement, La Lettre said, its annual declared turnover in France jumped from €47.1m ($51.3m; £39.6m) in 2020 to €1.2bn in 2021.

However, the outlet says investigators are trying to determine whether Netflix continued to attempt to minimise its profits after 2021.

Netflix arrived in France more than 10 years ago, opening its Paris office in 2020. It has some 10 million subscribers in the country, according to AFP news agency.

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US Treasury yields hit highest since July on Trump victory

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US Treasury yields hit highest since July on Trump victory

US Treasury yields hit highest since July on Trump victory

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M&S profits soar after revival in men’s suits pulls in more shoppers in their 20s and 30s

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M&S profits soar after revival in men's suits pulls in more shoppers in their 20s and 30s

A REVIVAL in men’s suits has helped Marks & Spencer fashion a dramatic comeback.

Its profits jumped by a fifth as both food and clothing sales rose.

Mark Wright and Spencer Matthews have advertised M&S' menswear ranges for the past six weeks

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Mark Wright and Spencer Matthews have advertised M&S’ menswear ranges for the past six weeksCredit: MARKS AND SPENCERS

Boss Stuart Machin said 670,000 new shoppers had been tempted by its menswear ranges, as advertised by Mark Wright and Spencer Matthews, over the past six weeks.

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He reported it had sold one million suits so far this year as more workers returned to offices after the pandemic and wanted a smarter look.

And he claimed the average age of its menswear customers had fallen by a decade as it was now winning more shoppers in their mid-20s and 30s.

He said: “Our menswear is getting better. I was wearing our £60 sell-out bomber jacket at the weekend and a friend thought it was Prada.

The chief exec, wearing head-to-toe M&S gear including Supima briefs, said it had been working on becoming more stylish.

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Mr Machin, 54, added: “I wear my suit straight off the rack and, I shouldn’t say this, but former CEOs used to have theirs altered.”

Despite half-year profits of £391.9million, Mr Machin warned the high street giant faced a £120million hit from increased National Insurance and the minimum wage rise.

However, he said he had no intention of putting up prices.

‘So pretty it made me shed a tear’ shoppers cry over M&S’ £15 Christmas choc box, but you’ll have to be quick to nab one
Marks & Spencer has sold over one million suits so far this year

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Marks & Spencer has sold over one million suits so far this yearCredit: Reuters

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Northern Data ex-directors drop unfair dismissal lawsuit

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A California court has dismissed a lawsuit against Northern Data, the German-listed crypto and IT infrastructure company, after two former directors voluntarily withdrew their claims of unfair dismissal.

Joshua Porter and Gulsen Kama had claimed in June that they were sacked by Northern Data after raising concerns about alleged fraud and tax evasion. Northern Data has refuted the allegations.

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The company said in an emailed statement:

We are pleased to confirm that this lawsuit has been dismissed. Both Gulsen Kama and Joshua Porter have acknowledged that they misunderstood/misstated the facts related to the complaint. Importantly, they have both confirmed that they were not fired for whistleblowing. As we stated from the outset, integrity and transparency are at the heart of everything we do and these were completely baseless allegations against the company.

The order to dismiss dockets are here and here.

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I have the largest collection of rare toy cars and I’m selling it for a HUGE £46,000 – it took me 50 years to build it – The Sun

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I have the largest collection of rare toy cars and I’m selling it for a HUGE £46,000 – it took me 50 years to build it – The Sun

AN incredible hoard of rare toy cars has sold for an eye-watering £46,000.

Terry Kneeshaw, from Darlington, County Durham, began his collection of Matchbox Regular Wheels in the 1970s.

The 450 strong hoard sold for a whopping £46,000

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The 450 strong hoard sold for a whopping £46,000Credit: Jam Press/Vectis Auctions
Terry Kneeshaw has been collecting the toy cars since the 1970s

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Terry Kneeshaw has been collecting the toy cars since the 1970sCredit: Jam Press/Vectis Auctions

It has grown to a whopping 450 cars over the years.

The eagle-eyed collector has categorised the artwork of each box from type A to F, as well as by model series from one through to 75.

It has been dubbed Britain’s biggest collections of Matchbox toys, and was expected to fetch £21,000.

But, with the help of Vectis Auction House, Terry sold his 50-year-old collection for £46,000.

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Ahead of the sale, artist Terry said: “I loved the paintings that came together on the boxes and I have some very, very rare ones.

“I started collecting variants and it became an obsession.

“For a lot of people the cars are the most important part of the collection but for me as an artist what was more important was the pictures.

“So when I collected, I collected all the box types.”

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The auction, which was held online, saw buyers from across the world bidding on 445 items.

All of them sold on the day, as reported by What’s The Jam.

Interesting cars included a Matchbox Regular Wheels 55a DUKW Amphibian.

It sold for £760 in a rare late issue type D1 box, printed by Pembroke Abbey with matching model artwork.

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A Matchbox Regular Wheels 33a Ford Zodiac pair, which was estimated at £40 to £60 also sold for £539.

Suprising household items that are worth a fortune and how to find them

Experts believe the average UK attic hides valuables totalling a staggering £1,922, and around £33billion worth of “junk” lurks in our cupboards and drawers

Antiques expert Charlie Ross, who regularly appears on Bargain Hunt and Flog It!, has listed several items to look out for in your home.

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’90s vinyl

“Records made from about 1992 to 1999 are especially valuable as not a lot was made at that time. Vinyl from bands like Mansun might sell for £80 or Kula Shaker, £65,” said the expert.

Star Wars

“What really sells well is carded figures, One auction recently sold a rare character called Yak Face, from Return Of The Jedi, for over £1,500,” said Charlie

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Fountain Pens

The Bargain Hunt presenter said: “A rare Namiki fountain pen once sold for £6,000 at auction, while auction house Dreweatts sold a limited-edition Montblanc for an incredible £14,000.”

Old mobiles

“Even if they are not worth a huge amount now, there is no doubt that they will become valuable, so they are worth keeping. The first one of any particular series might also be worth something in years to come”. said Charlie.

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Autographs

“If you have a collection of all the Beatles’ autographs, you are sitting on a fortune!” Charlie added.

“I recently met a chap who had a book full of cricketers’ autographs – even that was worth £100.”

Comics

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“A Batman Adventures Comic from 1993 could make you around £800. Comics are valuable as they are typically limited edition and quite rare,” explained the expert.

For more information on hidden valuable items, read here

This comes as a superfan who collected every copy of NME magazine for 52 years is selling them for an eye-watering £3,000.

Tony Howard’s attic nearly collapsed under the weight of his massive magazine hoard – which started when he was just 12-years-old.

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Elsewhere, a vintage Star Wars toy hoard found at the back of a cupboard is set to go under the hammer for an eye-watering £600,000.

The over 400 near-mint figurines – including Luke Skywalker and Darth Vader – are still in their original packaging.

Dating from the late 1970s and early 80s, the plastic toys had been stashed in a carboard box for 40 years by a pensioner.

In Livingston, Scotland, a dad-of-two hopes his giant collection of Pokémon cards will be worth more than a quarter of a million pounds.

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Gordon White, 58, has been hoarding the rare trading cards for 16 years and has amassed thousands.

He has already cashed in by selling half of his collection, which fetched a whopping £200,000 when it went under the hammer in November last year.

And, a collector who found 1,246 coins over the last 45 years sold the lot for £2million.

It has been dubbed Britain's biggest collections of Matchbox toys

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It has been dubbed Britain’s biggest collections of Matchbox toysCredit: Jam Press/Vectis Auctions
The eagle-eyed collector has categorised the artwork of each box from type A to F, as well as by model series from one through to 75

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The eagle-eyed collector has categorised the artwork of each box from type A to F, as well as by model series from one through to 75Credit: Jam Press/Vectis Auctions
All cars sold on the day, as reported by What's The Jam

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All cars sold on the day, as reported by What’s The JamCredit: Jam Press/Vectis Auctions
The auction, which was held online, saw buyers from across the world bidding on 445 items

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The auction, which was held online, saw buyers from across the world bidding on 445 itemsCredit: Jam Press/Vectis Auctions

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Top Trump fundraiser lines himself up for Treasury secretary

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Top Trump fundraiser lines himself up for Treasury secretary

Billionaire hedge fund manager Scott Bessent canvasses for deputies

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New National Lottery owners look to increase the £49billion already raised for good causes

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New National Lottery owners look to increase the £49billion already raised for good causes

MORE than £49billion has been raised for good causes by the National Lottery — and its new owners are setting their sights on raising even more cash.

In February, after a lengthy regulatory process, Allwyn took over from Camelot — which had held the licence since 1994.

The National Lottery has invested in some of the UK’s most loved landmarks — including the Angel of the North

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The National Lottery has invested in some of the UK’s most loved landmarks — including the Angel of the North
The National Lottery has helped fund films such as The King’s Speech

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The National Lottery has helped fund films such as The King’s SpeechCredit: Alamy

Andria Vidler, the firm’s chief executive, said that there was a huge amount of work to modernise the National Lottery and bring back the buzz.

Its existence has proven vital as its grants have been relied upon for the country’s sporting and artistic triumphs — as well as at grassroot levels.

Since funding began British athletes have won over 1,200 Olympic and Paralympic medals.

Allwyn has set out plans to double the amount of cash for good causes from £30million to £60million a week over the next decade of its licence.

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Ms Vidler, said: “One of the biggest challenges with the National Lottery is that it has aged.

“The world has changed massively since the National Lottery was launched 30 years ago.

“Back then it was a TV spectacular hosted by Noel Edmonds and Anthea Turner and watched by a third of the population.

“Now we’re facing increased competition, not just from other lotteries but from competing demands for our attention from streaming box sets, to video games and social media.”

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Still, in the eight months since Allwyn took over, it has raised £1billion for good causes.

Ms Vidler revealed Allwyn, which was founded by Czech billionaire Karel Komarek, has invested more than £350million in modernising operations.

Lottery winner says he spend cash on house extension for vinyl

Its revamp involves improving tech, scrapping charges for ­terminals and upgrading point of sale kit for retailers.

To come next year will be a new and improved digital app and website for customers.

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It is also rolling out a festive launch with scratchcard gift cards and Christmas cards with more prizes to be launched next year.

Ms Vidler added: “I want the next decade for the National Lottery to be the best yet.”

‘We’ll hand shopkeepers £10k bonus for every millionaire’

WITH over 41,000 shops selling Lottery tickets we know how important the local store is to every neighbourhood in the UK.

The ripple effect of each ticket sold in a shop needs to be championed more.

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Athletes like Team GB's Will Bayley have been backed by the National Lottery

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Athletes like Team GB’s Will Bayley have been backed by the National LotteryCredit: Getty
The Eden Project has also received lottery funding

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The Eden Project has also received lottery fundingCredit: Alamy

From our beginning, 30 years ago, local retailers have been at the heart of the National Lottery.

You couldn’t buy tickets from a phone screen — the only place to get them was your local store.

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Much has changed since then but despite the world becoming increasingly digital we know there’s still a thrill from buying a physical ticket, whether that’s ­filling in your lucky numbers or buying a scratch card.

Without local retailers selling our tickets, National Lottery players could never have raised the amazing £49billion for good causes and had such a profound impact on British society.

The National Lottery has backed Olympians and Paralympians to ­fulfil the nation’s dreams.

And we’ve invested in some of the UK’s most loved landmarks — including the Angel of the North, Cornwall’s Eden Project and Stonehenge.

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Money from tickets has also backed over 600 films, including award winners such as Billy Elliot and The King’s Speech.

None of this would be possible without your local shopkeeper and we want them to be part of our winners’ celebrations.

So when a winning National Lottery ticket is sold with a jackpot of £50,000 or more, we’ll hand them a cash prize of up to £10,000.

It’s a meaningful commitment — there’s nine million winning tickets a week and seven new millionaires.

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ASHLEY’S BLAST AT BOOHOO

MIKE Ashley’s Frasers Group has blasted Boohoo for its “utter disregard for shareholders” and threatened the online retailer’s directors with legal action.

Mr Ashley is reeling from Boohoo snubbing his demands to become its next chief executive and promoting insider Dan Finley instead.

In response, Mr Ashley has issued another public letter saying: “This has to stop. What will they try next? Desperate people do desperate things”.

The tycoon, who is Boohoo’s biggest shareholder with a 37 per cent stake, is now calling on Boohoo to put any brand disposals to a vote and hire an investment bank to scrutinise the terms of any brand sale.

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It comes amid concerns that Boohoo could sell one of its brands to someone with ­connections to chairman and founder Mahmud Kamani.

Boohoo said last month it could break-up the business to revive its share price.

’SPOONS PINT RISE

WETHERSPOONS’ boss Sir Tim Martin has warned the price of a pint will rise after the Budget added £60million in costs to the pub chain.

Wetherspoons, which employs more than 40,000 people, plans to pass on the costs of hikes in employers’ national insurance contributions and the minimum wage.

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Analysts think it could add 5p to the price of a pint, despite record sales over the last 14 weeks, with like-for-like sales rising by 5.9 per cent.

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