By Daniel Hunter

The taxpayer will lost out on £78m in taxes as a result of the collapse of mobile phone retailer Phones4U, according to The Telegraph.

The newspaper claims to have seen a document from administrators PwC which says that Phones4U owed £69.2m in VAT and £8.8m in corporation tax.

The report also suggests that just 0.4% or £672,000 of the money owed will be paid after the mobile phone retailer went bust in September.

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