The woman who founded one of Britain’s best known fashion chains has been declared bankrupt after saying she could not pay a £6 million tax bill.
Karen Millen, who is no longer connected to the chain that bears her name, faces losing her home and other assets after a tax avoidance scheme she participated in was delayed illegal. She was also prevented from launching a planned China- and US-focused homewares and lifestyle company.
UK press report Friday said invested in a scheme focused on Mauritius that was designed to avoid capital gains tax. But UK tax authorities challenged the scheme and issued Millen with the £6 million bill.
An appeals court judge…
