Heston Blumenthal, the tax havens and the ripped-off workers

Corporate records show that since it opened in Australia in 2015, Dinner by Heston Blumenthal has, on paper, been loss-making and has paid no company tax. In 2017 the business reported turnover of $15million but a loss of $308,526 after paying large “joint venture fees” of $733,584.

The year before, “joint venture fees” of about $800,000 were recorded as revenue, not as an expense.

Dinner by Heston restaurant in Melbourne. Heston Blumenthal with chef director Ashley Palmer-Watts.

Dinner by Heston restaurant in Melbourne. Heston Blumenthal with chef director Ashley Palmer-Watts.Credit:Justin McManus

Limited financial records show that parent company Tipsy Cake enjoys an interest-free loan of $750,000 from Crown Melbourne.

It also has a separate, unsecured loan from a related company on Nevis that charges no interest and has no set repayment date.

... read more at: https://www.smh.com.au/business/workplace/heston-blumenthal-the-tax-havens-and-the-ripped-off-workers-20181207-p50ksz.html

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