Liquidators to collapsed insurer, Independent, are to restate its profits by up to £160m in a bid to reclaim £50m tax rebates.
The Times reported today that PricewaterhouseCoopers (PwC) is understood to be preparing to cut Independent's declared profits between 1996 and 2001.
The corporation tax revision means Independent creditors could receive a £50m windfall.
A PwC spokeswoman told The Times that discussions had taken place with the Inland Revenue.
A spokeswoman for the Independent's former auditor, KPMG, said it believed information had been withheld from it by the collapsed insurer.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
