STOCK WATCH

SHARES in financial services company IFG plunged after it revealed the full extent of its tax charge and confirmed it had received a number of approaches for its Saunderson House subsidiary.

Last May the firm revealed it was facing a £1.8m tax charge from HMRC over investments in its unregulated biofuel scheme, Elysian Fuels.

But yesterday the company said the charge could be as high as £20m, sending its shares plunging 4pc, or 7.25p, to 173.75p.