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Twitter fined for 'failing to file UK corporate accounts' on time

Source : ANI
Last Updated: Mon, Dec 10, 2012 07:24 hrs

Micro blogging platform Twitter has been fined after failing to file its UK corporate accounts, it has emerged.

The company was due to lodge its annual accounts no later than September, but has still not done so, according to Companies House.

As a result Twitter UK Ltd and its secondary company, TweetDeck Ltd, have been hit with automatic penalty charges by the Cardiff-based authority, Sky News reports.

According to the report, the penalties are set to climb if the companies continue to delay filing the accounts.

The returns are used as a basis for tax filings with HM Revenue and Customs (HMRC).

Twitter UK and TweetDeck are wholly-owned subsidiaries of California-based Twitter Inc.

TweetDeck was started by Sheffield-educated computer programmer Iain Dodsworth in 2008 and sold to Twitter last year for an estimated 25 million pounds.

The revelation about Twitter's filing status with Companies House comes amid increasing public furore over the tax arrangements of other US multinationals, such as Google and Amazon, with HMRC. (ANI)




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