Rugby commentator Stuart Barnes loses £700,000 IR35 case against HMRC August 29, 2024 Former Sky Sports rugby commentator Stuart Barnes is the latest celebrity to be stung by IR35 after a top tax Tribunal overturns his appeal to foot a near £700,000 bill to HMRC.
Economists call hike in national insurance tax during cost of living crisis ‘extremely perverse’ February 1, 2022 Raising national insurance contributions during a cost of living crisis is the wrong thing to do, economists have warned. Giving evidence to the Treasury Select Committee, Tom Clougherty, from the Centre for Policy Studies, said it was “extremely perverse” to raise the tax currently and it should be delayed. Clougherty said it was “extremely perverse [...]
Pubs face inflationary costs of over 10 per cent as bosses call for tax relief February 3, 2022 Pubs are facing inflationary business costs of more than 10 per cent as publicans battle spiralling energy and labour costs. More than two in three pubs told an industry survey they were facing such substantial cost increases. Venues are facing skyrocketing energy bills while a labour crunch has seen wages of bartenders and chefs leap [...]
HMRC’s plans for second self-assessment helpline closure sparks outrage October 18, 2023 HMRC is preparing for another closure of its tax self-assessment helpline after it gave users just 48 hours warning, MPs have been told.
Pets at Home’s profit slumps as higher wages bite November 28, 2023 Pets at Home has backed its full-year guidance despite swinging to a 19.3 per cent loss in underlying profit before tax in the interim period.
Labour plots crackdown on private equity tax loophole September 20, 2021 Labour will crack down on private equity bosses by closing tax loopholes on their bonuses if victorious at the next election. Shadow chancellor Rachel Reeves will today say that by ending the carried interest loophole, the government could raise another £440m in tax revenues. Carried interest payments are given as bonuses to private equity bosses [...]
Raise a glass: Sunak set to overhaul alcohol tax regime October 17, 2021 Chancellor Rishi Sunak is set to overhaul the UK’s alcohol tax regime to give English wines an advantage over foreign wines. Sunak is preparing to scrap onerous levies on sparkling wine and bring the tax charged in line with the same rate as still wine, wiping an estimated 83p off bottles of bubbly, according to [...]
Who should advise on Research and Development (R&D) tax claims? November 12, 2021 In the Budget on 27 October, the Chancellor outlined his desire for greater investment in innovation and research. To do this, further government funding will be made available by way of the existing R&D tax reliefs. As stated in the ‘red book’, ‘The UK tax system provides very generous support to encourage companies to conduct [...]
Poverty looms for 600,000 Brits after Spring Budget as benefits fall behind inflation and tax jumps March 24, 2022 Around 600,000 people will be pulled into poverty, of which around a quarter are children, according to new data shared with City A.M. this morning. In fact, families in poverty will be £446 per year worse off in 2022-23 compared to if benefits had been uprated in line with current inflation levels. Households in poverty [...]
London law firm opens new office in Cayman Islands as firm believes tax haven is central to ‘new economy’ April 9, 2022 London law firm Chancery Advisors has opened a new office in the Cayman Islands, describing the location as “critical to the new economy.” The City of London law firm said that opening new offices in what has historically been known as a tax haven will help it facilitate offshore hedge funds and activist investors in [...]