Auditor Hillier Hopkins drawn into Cup Trust probe

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The Financial Reporting Council (FRC) is extending its investigation into the discredited Cup Trust tax avoidance scheme to include the charity’s auditor, Hillier Hopkins.

The regulator is already looking into whether any accountants committed misconduct in the creation and operation of the Cup Trust charity and its tax planning activities.

The Cup Trust gained particular notoriety last year when the Public Accounts Committee identified it as an example of the worst excesses of the tax avoidance industry, and criticised the Charities Commission for failing to spot the abuses.

As the sole trustee of the Cup Trust, Mountstar (PTC) raised more than £176m in donations from higher-rate taxpayers for the trust, allowing the cha...

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John Stokdyk
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