Iceland boss Walker slams ‘ludicrous’ HMRC probe into Christmas Club scheme

Sir Malcolm Walker

Iceland boss Sir Malcolm Walker has slammed HM Revenue & Customs for pursuing a “ludicrous” investigation into its Christmas Club employee savings scheme during the coronavirus crisis.

In a letter to HMRC, Walker said he is “totally shocked and amazed” that the government department is chasing Iceland for more information on the scheme “under the current conditions”.

As previously reported, Iceland has been accused by HMRC of breaking minimum wage rules around the savings scheme for its staff.

Employees can choose to have money deducted from their pay packets, which is saved in a dedicated account and typically withdrawn at Christmas.

HMRC has argued that, as a result, their pay had technically not met the minimum wage regulations.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Three free articles a month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.