Billionaire tech boss fined over tax violation

The billionaire chief executive of the money transfer provider Wise has been fined hundreds of thousands of pounds by HMRC for deliberately defaulting on his taxes. Kristo Kaarmann was charged £365,651 for the default during the 2017-18 tax year on a £720,495 tax bill. Mr Kaarmann, who steered Wise to the London Stock Exchange’s biggest technology debut and a current valuation of £11.3 billion, may face questions about his status as a “fit and proper” senior manager.

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