The accountancy giant PwC has considered resigning as auditor and adviser to the petrochemicals empire Ineos over an ambitious tax-avoidance plan being put together by its three most senior executives, The Sunday Times understands.
Sir Jim Ratcliffe, the founder of Ineos and Britain’s richest person with an estimated fortune of £21bn, and his lieutenants Andy Currie and John Reece are understood to have been working with PwC on a plan that could let them extract billions of pounds from the business they built up without paying any meaningful capital gains or income tax.
The trio, who were reported to be moving to Monaco months after Ratcliffe was knighted for services to business last year, are understood to have looked at a broad range of options
