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The Guardian - UK
The Guardian - UK
Business
Jasper Jolly

FCA investigates Wise cofounder after tax default

Kristo Käärmann WISE FCA Taavet Hinrikus
Kristo Käärmann on day three of the 2015 Web Summit in Dublin, Ireland.
Kristo Käärmann started Wise in 2011 with Taavet Hinrikus. Photograph: Sportsfile/Corbis/Getty Images

The UK’s financial regulator is investigating the cofounder of payments company Wise after he failed to pay his taxes.

Kristo Käärmann was included on HM Revenue and Customs’ public list of deliberate tax defaulters in September 2021, after failing to comply with his tax obligations. He failed to pay £720,495 for the 2017-18 tax year and received a fine of £366,000, the tax authority said.

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