American sweet shops in London are the subject of a council investigation into financial issues, it's been reported. Westminster Council is said to be looking into 30 such retail outlets on Oxford Street alone.
The council has launched its probe after they were found to be allegedly failing to pay full business rates, reports state. There could be as much as £7.9 million in business rates unaccounted for, MailOnline has reported.
A TikToker has been credited with bringing issues to light. CazzaTime recently shared a clip where he suggested that an investigation should be launched into money-laundering allegations.
According to the TikToker, there is allegedly a trend of companies winding up before business rates are due. MailOnline claims companies which share directors with Kingdom of Sweets - they name as Croftray Limited and Old Green Limited - have already been wound up owing £2million in rates.
The CazzaTime TikTok account specialises in personal finance clips. Of his more than 207,000 followers, 12,000 have liked the clip where he explains his 'candy store' theory.
A spokesman for Kingdom of Sweets told MailOnline: "We are a respectable business paying all relevant taxes and business rates. The issue of rival stores opening and then closing without paying business rates has had a detrimental impact on our trading in an extremely difficult environment.
"As a responsible business we support plans to clamp down on this practice and will continue working with Westminster Council."
Councillor Adam Hug, leader of Westminster City Council, told the MailOnline: "Anyone walking down Oxford Street is struck by the ever-expanding number of US-style sweet shops and poor quality souvenir outlets. They are not only an eyesore; they are a threat to the status and value of what is supposed to be the nation's premier shopping street.
"The problem is that owners of buildings are turning a blind eye to those who sublet them as it means they are not liable for business rates. That's why we have a rash of US candy stores in prestige locations.
"This needs to stop and we will be stepping up pressure on landlords to make it clear they are responsible for Oxford Street being overrun with these kinds of stores. The people selling overpriced sweets are cheating the UK taxpayer and very often swindling their customers into the bargain."
