Iceland settles 'fun tax" - Telegraph It was branded "a nit-picking attack on fun" by Iceland boss Malcolm Walker, but the retailer has finally settled the £2.5m tax bill it received for taking 800 senior staff on a trip to Disney World in Florida. "We've since settled that bill with the Inland Revenue and we're very happy with the outcome," the Iceland founder disclosed in an interview. The taxman made concessions because we argued, successfully, about the investment value of that trip as opposed to the entertainment value. We do this to boost morale, it's not a holiday. We certainly haven't been put off. We're taking our managers to Dubai [this] year. Iceland was handed the bill after taking 800 managers on a £4m, five-day trip to Disney World, Universal Studios and the Kennedy Space Centre in 2009. HM Revenue and Customs said the excursion was a "benefit in kind." But Mr Walker had refused to pay, arguing that, as Iceland staff would learn from Disney's customer service, it was a tax-deductible business expense.