A ‘City bad boy’ paid just £32.50 in income tax for 2017, a BBC Panorama investigation revealed last night (03/06/19).

Frank Timis is a Romanian-Australian businessman, whose main financial interests come from the oil and mining industries. Despite apparently living a luxurious lifestyle, the amount of income tax he paid is equivalent to someone who earned just £11,170 in the 2016-17 tax year.

However, it is worth noting the £32.50 only refers to the amount of income tax and does not account for any other taxes he may have paid.

The investigation pointed to the £14,000 a month penthouse Mr Timis rents ...