Lycamobile, an international firm that sells foreign mobile calls, gave the Tories £136,180 in the current quarter and £40,000 in the quarter before that, making the company the Tories’ third biggest donor over this period.

But the latest available figures show the company did not pay any tax between 2008 and 2010 despite generating a turnover of between £47m and £88m.

This year’s accounts are so late that last month Companies House announced they might “dissolve” the company, striking them off their register and forcing them to cease trading. At the end of March Lycamobile persuaded the regulator to suspend the moves. …

…The latest available accounts for [its] Portuguese division show it had just four employees, despite reporting £433m of turnover. Two of those employees, Richard and Filomena Benn, run a Madeira-based company that specialises in “tax planning”.

… The firm’s most recent accounts also show that auditors KPMG were not able to obtain enough information to sign off on adjustments made to financial information from previous years.

KPMG began auditing the firm after EY resigned from the duty in 2014. …”