Pay tax on your gifts, top accountancy firm warns politicians amid Labour row Politics Politicians should pay tax on gifts in the same way that other industries and individuals do, a leading accountant has said. Currently, firms and workers in sectors where gifting is commonplace and an element of their profession – such as the media industry or online influencers – are made pay to income tax and, in [...]
The Bank of London Group handed HMRC winding-up order after chief steps down Banking The Bank of London Group, a fintech unicorn boasting Peter Mandelson on its board, was handed a winding-up petition by the UK's tax authority just two days after saying its founder would step down as chief executive, City A.M. can reveal.
Britain missing out on billions of crypto tax revenue as HMRC fights back Investing The UK could be missing out on billions in tax revenue from crypto investors that is currently going unreported. As Norwegian tax returns are public, recent research from Norway was able to find that 88 per cent of all Norwegian crypto investors fail to declare their holdings. While each tax-avoiding investor owed on average between [...]
Centrica vs HMRC: What does Supreme Court ruling on tax deduction mean for businesses? July 26, 2024 Just last week Centrica lost an appeal against HMRC over the treatment of professional services fees.
Centrica: Supreme Court dismisses British Gas owner’s tax dispute with HMRC July 16, 2024 British Gas' owners investment business has had its corporation tax appeal over professional services fees dismissed by the Supreme Court
Tax from UK’s 74,000 non-doms paid for 18 days of NHS spending in 2022 July 9, 2024 Non-doms contributed nearly £9bn to the exchequer through tax and national insurance contributions (NICs) in the 2023 tax year, the highest amount since 2017, when new rule changes were brought in.
EY and property tycoon Jamie Ritblat settle dispute with HMRC for ‘significant’ sum July 5, 2024 HMRC's tax dispute with accounting firm EY and Jamie Ritblat, a British property investor has been resolved after the parties reached a confidential settlement
Uber faces £1bn VAT showdown with HMRC June 23, 2024 Despite achieving its first full-year profit in February, Uber swung to a net loss of $654m (£524m) in the first quarter of this year.
UK tax gap nears £40bn as Tories and Labour pledge crackdown June 20, 2024 The gap between how much tax the government owes and the amount it collects has grown to almost £40bn, latest official figures show, as the Conservatives and Labour vow to tackle tax dodging ahead of the general election.
HMRC tax rule changes put professional service firms into limbo June 10, 2024 The UK tax agency is probing firms for potential backdates contributions after changes to a tax rule which affects LLPs