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....”. There are 210 UK properties worth more than £20m owned by an offshore company or other “non-natural person” vehicle, according to 2015-16 HMRC tax receipt data. ... [Read full article on Guardian ]
Sunday 5th of March 2017 12:04:29 AM
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.... DPD said that when it established the franchisee scheme it “obtained clearance from HM Revenue & Customs to ensure that franchisees were genuinely self-employed and that the scheme was fully compliant with relevant legislation and good practice”. It said it had since received HMRC clearance over further changes to the arrangements. ... [Read full article on Guardian ]
Friday 3rd of March 2017 07:39:12 PM
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....50 an hour next month, for those aged 25 and over. Last month, HMRC named 360 businesses who had failed to pay the statutory minimum wage. ... [Read full article on BBC ]
Thursday 9th of March 2017 11:24:00 AM
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.... We don’t recognise the figures. HMRC are looking at it now. ... [Read full article on Guardian ]
Wednesday 8th of March 2017 10:30:19 PM
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....In the OBR’s economic and fiscal outlook, which is published alongside the budget, the watchdog estimated that such action cost the exchequer £800m. The report added: “HMRC analysis suggests that around one pound in seven of that saving benefited just 100 individuals who were able to withdraw dividends averaging £30m each from their companies before the higher tax rate took effect. ... [Read full article on Guardian ]
Wednesday 8th of March 2017 02:24:49 PM
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....”. The SQA refused to say whether an HMRC investigation had prompted its change in policy. ... [Read full article on Guardian ]
Thursday 16th of March 2017 02:59:31 PM
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.... These rates will rise on 1 April. Jennie Granger, the director general for customer compliance at HMRC, which supervises payment of the national living wage, said: “Employers must pay their workers what they’re entitled to and follow the rules. ... [Read full article on Guardian ]
Monday 27th of February 2017 12:01:43 AM
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.... It also wants to see consultation on a simpler tax system for small businesses. Mr Hammond should create a 'white-list' for acceptable tax-planning, to separate it from aggressive evasion, so businesses are clear about what kinds of tax planning HMRC will accept. ... [Read full article on BBC ]
Sunday 5th of March 2017 01:37:19 AM
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....“If, contrary to your evidence, CPC always was and still is a partnership then enormous sums of tax have been evaded by your brother,” Roger Stewart QC, acting for Holyoake, told Christian Candy, under cross-examination on Thursday. Stewart said that would mean HMRC would have missed out on “vast sums” that could have gone to fund hospitals, roads and schools. ... [Read full article on Guardian ]
Thursday 2nd of March 2017 02:48:12 PM
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.... But there are simple steps to beat dividend tax, which sees as much as 38. 1 per cent of share earnings handed to HMRC, depending on a holder's income rate. ... [Read full article on Daily Express ]
Thursday 9th of March 2017 04:32:00 PM
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. A new tax-free Isa allowance that comes into force next month will allow wealthy couples to put more than £70,000 beyond the reach of HMRC. ... [Read full article on Guardian ]
Saturday 11th of March 2017 07:00:28 AM
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Latest Finance News related to HMRC

'Brothers bling': lawsuit puts Nick and Christian Candy in spotlight image
Source : Guardian [Read Article] Saturday 18th of March 2017 09:00:35 AM
.... The Candys, and those close to them, clearly believe they have dangerous enemies. The case has also increased pressure on the HMRC to take a closer look at how the brothers sheltered their fortune from tax. ...
Scotland's exam body promises living wage after £6 hourly rate revealed image
Source : Guardian [Read Article] Thursday 16th of March 2017 02:59:31 PM
....”. The SQA refused to say whether an HMRC investigation had prompted its change in policy. ...
Isas back in favour after tax allowance hike image
Source : Guardian [Read Article] Saturday 11th of March 2017 07:00:28 AM
. A new tax-free Isa allowance that comes into force next month will allow wealthy couples to put more than £70,000 beyond the reach of HMRC. ...
Savers urged to use THIS simple trick to beat dividend tax changes image
Source : Daily Express [Read Article] Thursday 9th of March 2017 04:32:00 PM
.... But there are simple steps to beat dividend tax, which sees as much as 38. 1 per cent of share earnings handed to HMRC, depending on a holder's income rate. ...
Tesco to pay back thousands of underpaid staff image
Source : BBC [Read Article] Thursday 9th of March 2017 11:24:00 AM
....50 an hour next month, for those aged 25 and over. Last month, HMRC named 360 businesses who had failed to pay the statutory minimum wage. ...
Self-employed hit by national insurance hike in budget image
Source : Guardian [Read Article] Wednesday 8th of March 2017 02:24:49 PM
....In the OBR’s economic and fiscal outlook, which is published alongside the budget, the watchdog estimated that such action cost the exchequer £800m. The report added: “HMRC analysis suggests that around one pound in seven of that saving benefited just 100 individuals who were able to withdraw dividends averaging £30m each from their companies before the higher tax rate took effect. ...
Business wish list image
Source : BBC [Read Article] Sunday 5th of March 2017 01:37:19 AM
.... It also wants to see consultation on a simpler tax system for small businesses. Mr Hammond should create a 'white-list' for acceptable tax-planning, to separate it from aggressive evasion, so businesses are clear about what kinds of tax planning HMRC will accept. ...
£220,000: the price super-rich will pay to keep their privacy image
Source : Guardian [Read Article] Sunday 5th of March 2017 12:04:29 AM
....”. There are 210 UK properties worth more than £20m owned by an offshore company or other “non-natural person” vehicle, according to 2015-16 HMRC tax receipt data. ...
Sick DPD couriers face £150 charge if unable to find cover image
Source : Guardian [Read Article] Friday 3rd of March 2017 07:39:12 PM
.... DPD said that when it established the franchisee scheme it “obtained clearance from HM Revenue & Customs to ensure that franchisees were genuinely self-employed and that the scheme was fully compliant with relevant legislation and good practice”. It said it had since received HMRC clearance over further changes to the arrangements. ...
Nick Candy accused of being secret partner in brother's property group image
Source : Guardian [Read Article] Thursday 2nd of March 2017 02:48:12 PM
....“If, contrary to your evidence, CPC always was and still is a partnership then enormous sums of tax have been evaded by your brother,” Roger Stewart QC, acting for Holyoake, told Christian Candy, under cross-examination on Thursday. Stewart said that would mean HMRC would have missed out on “vast sums” that could have gone to fund hospitals, roads and schools. ...
UK workers' wages fell 1% a year between 2008 and 2015, TUC says image
Source : Guardian [Read Article] Monday 27th of February 2017 12:01:43 AM
.... These rates will rise on 1 April. Jennie Granger, the director general for customer compliance at HMRC, which supervises payment of the national living wage, said: “Employers must pay their workers what they’re entitled to and follow the rules. ...
HMRC criticised over film industry tax avoidance probes image
Source : BBC [Read Article] Saturday 25th of February 2017 02:46:36 AM
. HMRC has rejected criticism by Andrew Tyrie, chairman of the Treasury select committee, over its response to the exploitation of tax breaks for the film industry. ...
World gets thirst for British gin as exports hit record of nearly £500m image
Source : Guardian [Read Article] Friday 24th of February 2017 02:42:43 PM
....Exports of British gin surged to record levels last year, reaching nearly £500m. Figures from HMRC show exports of the juniper-based spirit rose by 12% to £474m, outperforming exports of British beef and soft drinks. ...
Tax barrister plans to take Uber to court over alleged £20m black hole image
Source : Guardian [Read Article] Tuesday 21st of February 2017 03:00:09 PM
....He said he was concerned that HM Revenue and Customs was treating big US companies more favourably than governments in continental Europe do. “That narrative that HMRC doesn’t really want to discuss is incredibly damaging to people’s perceptions of the fairness of the society they live in,” Maugham told the Guardian. ...
Even with price rises, there’s no place like home for bargain-hungry Brits image
Source : Guardian [Read Article] Saturday 18th of February 2017 07:00:33 AM
.... Anything brought in from the US (or indeed any country outside the EU) may be subject to VAT, customs and excise duty, unless they’re below £15 in value (£39 if they’re a gift). VAT on bringing in an iPhone from the US is 20%, although customs duty (as far as I can tell from HMRC’s site) is zero. ...
Argos to pay £2.4m to 37,000 workers paid less than minimum wage image
Source : Guardian [Read Article] Thursday 16th of February 2017 03:26:07 PM
....4m in wages to more than 37,000 current and former shopworkers, and has been fined nearly £1. 5m after a HMRC investigation. ...
Debenhams tops government's shame list for underpaying staff image
Source : Guardian [Read Article] Wednesday 15th of February 2017 07:14:42 PM
....20 an hour for those over 25, which was introduced last year. The businesses were forced to pay back £995,233 to workers as well as penalties totalling £800,000 to HMRC. ...
HMRC overhaul: What are the five changes proposed for UK tax system?  image
Source : Daily Express [Read Article] Monday 13th of February 2017 10:26:00 AM
. After HMRC announced an overhaul of the UK tax system, here is a look at five of the proposed changes that could affect you. ...
It's time corporate tax dodgers started losing lucrative council contracts | Paul Monaghan image
....Then there is the issue that suppliers are expected to self-declare their recent history of tax compliance. It is a rather substantial leap of faith to trust that businesses that have filed incorrect tax returns would readily confess this while chasing lucrative contracts, especially when a veil of secrecy still surrounds instances when HMRC has found cases of corporate tax avoidance. ...
Plan ahead to ease burden of death tax image
Source : Daily Express [Read Article] Wednesday 8th of February 2017 12:01:00 AM
....Around 30,000 families face an IHT bill in the 2016/17 tax year, up from 26,000 one year earlier. In 2008/09 the figure stood at just 16,000, according to private client law firm Wilsons, which has crunched HM Revenue & Customs (HMRC) data. ...
Robots 'could replace 250,000 UK public sector workers' image
Source : Guardian [Read Article] Monday 6th of February 2017 09:10:14 AM
....”. Such “contingent labour” platforms, it says, could suit hospitals and schools as an alternative to traditional agency models, as well as organisations which experience seasonal peaks in demand such as HMRC at the end of the tax year. ...
Beware the call connection services that charge £3.60 a minute image
Source : Guardian [Read Article] Saturday 4th of February 2017 06:59:22 AM
....But Amazon is just the tip of a huge consumer iceberg. A quick trawl of other “connection services” suggests there are many out there offering to put people through to a vast range of household names, including Marks & Spencer, Tesco, John Lewis, npower, O2, BT, Sky, Argos, Asda, BA, Royal Mail, HMRC, the DVLA, TV Licensing and even the Dartford Crossing. ...
Royal Albert Hall president to be grilled by MPs over ticket abuse image
Source : Guardian [Read Article] Sunday 29th of January 2017 05:39:12 PM
....The Competition and Markets Authority has launched a probe into whether touts are flouting the Consumer Rights Act 2015 by failing to publish their company details and information about the seat they are selling. HMRC has also begun a separate investigation into whether touts are declaring their full income from the trade. ...
Tax return DEADLINE: Millions urged to act TODAY to avoid £100 fine  image
Source : Daily Express [Read Article] Friday 27th of January 2017 04:14:00 PM
.... John Cullinane, the Chartered Institute of Taxation's policy director, said: “Greater numbers of people in self-employment is a growing feature of the UK’s economy and unfortunately, one of the first things they need to think about in 2017 is tax. "We urge self-employed people not to begin their new relationship with HMRC with a £100 fine by taking advantage of the tax authority’s online offerings, such as accessing their new Personal Tax Account to submit their SA return and follow the guidance on Gov. ...
UK's super rich appear to get special deal from HMRC, says watchdog image
Source : Guardian [Read Article] Friday 27th of January 2017 12:01:11 AM
....Britain’s wealthiest people appear to get preferential treatment from HM Revenue & Customs and are not being properly pursued for outstanding tax bills, parliament’s spending watchdog has concluded. HMRC’s failure to clamp down on rich tax dodgers is undermining confidence in the whole system, the public accounts committee said. ...
Ticket touts rebrand as investigations put them in spotlight image
Source : Guardian [Read Article] Monday 23rd of January 2017 03:16:42 PM
....Moves among touts to alter their public profiles follow increased scrutiny, including an inquiry by the Competition and Markets Authority (CMA) into whether they are breaking the law by failing to disclose their identity on ticket resale sites. HM Revenue & Customs (HMRC) is also examining the industry after MPs on the Commons culture, media and sport select committee demanded an inquiry into touts’ tax affairs. ...
Grandparents miss out on tax credits that could boost state pension image
Source : Guardian [Read Article] Wednesday 18th of January 2017 02:57:04 PM
.... Over the course of a 20-year retirement this would add up to a loss of more than £4,500. But the figures from HMRC, Webb said, showed that this system “is so little known” that just 1,298 grandparents and other family members across the country benefited in the year to September 2016. ...
Grandparents missing out on tax credits that would boost their pensions image
Source : Daily Express [Read Article] Wednesday 18th of January 2017 12:01:00 AM
. A Freedom of Information (FOI) request submitted to HM Revenue and Customs (HMRC) by Royal London found only a low number of applications had been made for "grandparents' credit". ...
HMRC criticised over spiralling payments to outsourcing firm image
Source : Guardian [Read Article] Tuesday 17th of January 2017 12:01:23 AM
.... HM Revenue and Customs has been forced to apologise for management of the contract. The report’s findings have angered MPs and campaigners who believe HMRC showed indifference to the suffering of claimants whose benefits were wrongly cut or stopped altogether. ...
10 ways to cut your tax bill image
Source : Guardian [Read Article] Saturday 14th of January 2017 07:00:19 AM
....7 . And so are some uniform costsHMRC has agreed flat-rate deductions – typically £80-£140 a year – for employees working in a long list of different occupations who are required to wear a uniform. ...
Bosses' bizarre excuses for failing to pay minimum wage image
Source : BBC [Read Article] Wednesday 11th of January 2017 10:52:13 AM
....Another argued for not paying the legal minimum, saying that a member of staff "wasn't a good worker", while one said employees should "prove their worth". The excuses, heard by HM Revenue and Customs (HMRC), were published as part of a government awareness campaign. ...
'She only makes tea': worst excuses for not paying UK minimum wage revealed image
Source : Guardian [Read Article] Wednesday 11th of January 2017 06:30:12 AM
.... “This campaign will raise awareness among the lowest-paid in society about what they must legally receive and I would encourage anyone who thinks they may be paid less to contact Acas as soon as possible. Every call is followed up by HMRC and we are determined to make sure everybody in work receives a fair wage. ...
 Act NOW to slash your tax bill: Self-assessment tax returns due by end of January image
Source : Daily Express [Read Article] Wednesday 11th of January 2017 12:01:00 AM
.... . Last year around 385,000 people submitted their tax return shortly before the midnight cut-off, according to HM Revenue & Customs (HMRC). ...
Thousands of HMRC staff may have to move up to 174 miles image
Source : BBC [Read Article] Tuesday 10th of January 2017 12:02:48 AM
. Up to 38,000 staff from HM Revenue and Customs (HMRC) will be expected to move large distances as part of a reorganisation, a report has found. ...
Save on tax: 10 ways to - legally - cut what you pay to HMRC  image
Source : Daily Express [Read Article] Sunday 8th of January 2017 04:33:00 PM
....8. Register investment lossesLosses from assets can be offset to effectively increase the CGT allowance, but the they must be registered with HMRC. ...
Nearly 3m UK couples missing out on free tax break image
Source : Guardian [Read Article] Sunday 8th of January 2017 12:44:56 PM
....Since April 2015, couples in which one person pays no tax because their income is less than the personal allowance – currently £11,000 – have been able to transfer £1,100 of that allowance to their tax-paying partner. HMRC said the allowance, available to couples who are married or in a civil partnership, has been taken up by 1. ...
Courier wins holiday pay in key tribunal ruling on gig economy image
Source : Guardian [Read Article] Friday 6th of January 2017 07:39:01 PM
.... The other hearings are due in March and April. The government recently announced a six-month review of modern working practices and HMRC is setting up a new unit, the employment status and intermediaries team, to investigate companies. ...
Nearly 700 firms fined total of £1.4m for not paying minimum wage image
Source : Guardian [Read Article] Friday 6th of January 2017 12:29:40 PM
....The overall fine, though, amounts to only about 40% of the total they underpaid. HM Revenue & Customs (HMRC) has had the power to impose penalties of up to 200% of the money owed since last year and previously it was still as much as 100%. ...
Government names new chief to lead crackdown on worker exploitation image
Source : Guardian [Read Article] Thursday 5th of January 2017 12:01:34 AM
....Metcalf will report to the home secretary, Amber Rudd, and business secretary, Greg Clark. The role will mean that, for the first time, the GLAA, the EAS and HMRC will centralise their intelligence, allowing the director “to draw up an annual strategy targeting sectors and regions which are vulnerable to unscrupulous employment practices”. ...
Happy new year? 2017 rings in more commuter misery and higher bills image
Source : Guardian [Read Article] Monday 2nd of January 2017 06:59:18 AM
.... Instead, when income tax on a landlord’s profits from their property, and any other income sources, are totted up they will be granted a “tax credit” worth 20% of the mortgage interest to offset against income tax, whatever rate they pay. HMRC has estimated that just one in five landlords will be affected by the changes, but representative groups have said it will have a devastating impact on their finances. ...
HMRC empowered to name and shame tax evasion 'enablers' image
Source : Guardian [Read Article] Sunday 1st of January 2017 10:53:10 AM
. Tax advisers, accountants and lawyers who aid the super-rich with offshore tax evasion will face tough new penalties from New Year’s Day, with HMRC now able to publicly name and shame “enablers”. ...
Observer business agenda’s review of the year image
Source : Guardian [Read Article] Sunday 1st of January 2017 09:00:02 AM
....Not a great year if you run a business in the so-called gig economy, as a number of moves threatened to improve the lot of workers at firms from Hermes to Deliveroo to Uber – and, possibly, undermine their business models. The UK’s chief taxman referred Hermes to HMRC compliance officers following complaints by couriers that they were being paid at levels equivalent to below the “national living wage”. ...
How attempts to save BHS, and 11,000 jobs, were doomed by chaos and mistrust image
Source : Guardian [Read Article] Saturday 31st of December 2016 04:00:32 PM
....Green claims that he was advised by Duff & Phelps to issue the demand that pushed BHS into administration in order to protect the salaries of its staff in the event a rescue package could not be secured. Green read a letter from Duff & Phelps to MPs that claimed HMRC had issued a seven-day winding-up notice against BHS, that lawyers acting for the board of BHS had advised the directors they were at risk of wrongful trading, and that the salaries of staff might not be paid unless the retailer was protected by an administration order. ...
Deadline: one month left to file your tax return image
Source : Guardian [Read Article] Saturday 31st of December 2016 07:00:21 AM
....Do I need to register? If you are submitting your return online for the first time, you have to register and that takes time. You will need your 10-digit unique taxpayer reference number (UTR), which you can typically find on HMRC letters and other documents you have been sent. ...
Thousands file festive tax returns image
Source : BBC [Read Article] Thursday 29th of December 2016 03:44:22 PM
....Thousands of people filed their tax returns over the festive season - a month before the deadline, the UK's tax authority has said. A total of 1,944 people submitted their self-assessment forms online on Christmas Day, according to HM Revenue and Customs (HMRC). ...
Labour 'finds £2.6bn black hole in Treasury's tax avoidance measures' image
Source : Guardian [Read Article] Friday 23rd of December 2016 07:00:09 AM
.... And revenue from the debt market integrator schemes is forecast to be £300m less than hoped for over the period. McDonnell, who has said that tackling tax avoidance would be a Labour priority, suggested that part of the problem was HMRC underfunding. ...
Tax avoidance, expenses scams – welcome to the recruitment industry | Adrian Gregory image
.... Their temporary workers would then lose year-end rebates to which they would otherwise have been entitled. HMRC inactivity has been the main facilitator of the recruitment industry’s care-free tax avoidance. ...
Yacht fire among late tax return excuses image
Source : BBC [Read Article] Wednesday 21st of December 2016 10:48:55 AM
....Excuses from individuals who failed to submit their tax return this year included a claim that the paperwork was engulfed in a yacht fire. Other claims rejected by HM Revenue and Customs (HMRC) included a wasp causing an accident and a child scribbling on the forms. ...
MPs poised to investigate VAT fraud on Amazon and eBay image
Source : Guardian [Read Article] Wednesday 21st of December 2016 12:01:02 AM
....Now the MPs are expected to turn their attention to the issue of overseas traders committing VAT fraud on an industrial scale through well-known online shopping sites – a scandal first highlighted by a Guardian investigation last year. HMRC has since admitted VAT evasion in online shopping had become a “very big issue”, estimating it cost up to £1. ...
Computer error blamed for HMRC blunder in Scotland image
Source : Guardian [Read Article] Monday 19th of December 2016 06:54:44 PM
....The report identifies “significant challenges” for HM Revenue and Customs, which will assess and collect the new tax on behalf of Scotland. HMRC only discovered the initial scan of its database was incomplete after being contacted by members of the Scottish government and the public who had not received, or knew people who had not received, notification letters. ...
Ticket resale websites run risk of fines after CMA launches inquiry image
Source : Guardian [Read Article] Monday 19th of December 2016 12:23:00 PM
....The watchdog has powers to force firms which breach the law to provide undertakings to improve their behaviour, while the courts can impose fines on those who do not. The CMA’s investigation will also turn the spotlight on the touts, who are already facing the prospect of a tax investigation by HMRC. ...
Fortnum & Mason aims to cut basic pay for more staff in bid to reduce tax bill image
....“There are a lot of savings to be made if this can be done right. I would be surprised if this wasn’t challenged by HMRC,” Brown said. ...
HMRC claws back celebrities' tax relief image
Source : BBC [Read Article] Thursday 15th of December 2016 12:17:51 AM
....Some investors have had tax payment demands, the BBC understands. These accelerated payment notices (APNs) - requiring an individual to pay first and appeal afterwards if they disagree - are issued by HM Revenue and Customs (HMRC) if it believes too little tax has been paid. ...
How a healthy buy-to-let profit could soon become a painful loss image
Source : Guardian [Read Article] Saturday 10th of December 2016 07:00:07 AM
....“This example provides insight into a previously profitable venture that becomes loss-making, that will need to be bailed out down the line, either by higher rental yields or large property price rises, neither of which are certain,” says Sofat of her table. HMRC has put together its own worked examples. ...
Heard the latest Christmas story? It’s about how UK banks pay all their taxes | Prem Sikka image
....6bn relating to income tax and national insurance contributions (NIC) paid by employees under the pay as you earn (PAYE) system, and value added tax (VAT) and insurance premium tax collected from customers. These taxes are collected and paid over to Her Majesty’s Revenue and Customs (HMRC) by companies. ...
Sports Direct chairman lambasts critics as profits fall image
Source : BBC [Read Article] Thursday 8th of December 2016 07:26:28 AM
....Sports Direct has suffered from a number of scandals in recent months. After HMRC looked into whether workers at its Derbyshire warehouse were paid below the minimum wage, a damning report by the the Business, Innovation and Skills committee said employees of the company were "not treated as humans". ...
HMRC chief calls for tax crackdown on Premier League footballers image
Source : Guardian [Read Article] Wednesday 7th of December 2016 08:08:13 PM
....Britain’s top tax inspector has called on the chancellor, Philip Hammond, to review the tax rules for super-rich football stars who are avoiding tax by siphoning earnings from Premier League games into image rights companies based in offshore tax havens. Jon Thompson, chief executive of HMRC, told a committee of MPs that offshore image rights payments were now “the most significant risk in football”. ...
Football tax review called for by HMRC chief image
Source : BBC [Read Article] Wednesday 7th of December 2016 04:12:44 PM
....The chief executive of HM Revenue and Customs, Jon Thompson, has told MPs he would like to see a review of the way footballers can reduce their tax bills. He said payments to them for their image rights were "the most significant risk in football" faced by HMRC. ...
UK government leases Canary Wharf offices from Barclays image
Source : BBC [Read Article] Tuesday 6th of December 2016 02:06:53 PM
....The UK government has agreed a deal to sublet a Barclays office in London's Canary Wharf for about 5,700 civil servants. The civil servants, many of them from HMRC, will be relocated from offices in Whitehall, the Cabinet Office said. ...
MP calls for inquiry into José Mourinho tax avoidance allegations image
Source : Guardian [Read Article] Sunday 4th of December 2016 10:03:39 AM
.... It said more revelations would be published in the coming weeks, giving “an unprecedented look into the gloomy depths of the modern football industry”. An HMRC spokesman said: “HMRC carefully scrutinises the arrangements between football clubs and their employees in respect of any image right payments to make sure the right tax is paid. ...
So, Mike Ashley, can  we handle the truth? image
Source : Guardian [Read Article] Sunday 4th of December 2016 07:00:07 AM
....This recurring theme gets an airing this week, when the public accounts committee hears from Jon Thompson, chief executive of HM Revenue and Customs, and his director general of enforcement and compliance, Jennie Granger, as part of the committee’s inquiry into taxing the rich. HMRC estimates that its specialist unit dedicated to collecting tax from high-net-worth individuals clawed back £416m last year – money that millionaires had tried all sorts of creative ruses to avoid paying. ...
Demand is weak and investment’s faltering. That’s OK then image
Source : Guardian [Read Article] Sunday 4th of December 2016 07:00:07 AM
....Bull, who describes the move to increase the number of electric vehicles on UK roads as “gloriously inconsistent” with the government’s reduction last year in subsidies for renewable electricity generators, asked who would benefit from this extra tax relief and how much it would be worth. HMRC’s answer was: “In practice it [the new tax relief] impacts only on those businesses with qualifying plant and machinery expenditure above the level of the annual investment allowance of £200,000. ...
Mourinho faces tax probe call over Sunday Times claims image
Source : BBC [Read Article] Sunday 4th of December 2016 12:05:04 AM
....The statement added that the allegations stemmed from a cyber attack earlier this year on some sports agents, details of which were prohibited by a Spanish court from being published. The head of HMRC will appear before Ms Hillier's committee - which is responsible for overseeing government expenditure - this week. ...
Adele tickets appear online for £9,000 despite singer's efforts to stop touts image
....Secondary ticketing is illegal in Belgium and strictly limited in France, while Italy recently moved to outlaw it after Live Nation, which owns Ticketmaster, admitted passing tickets directly to Viagogo. While touts have a free rein to do business in the UK, they are facing a full-blown investigation into their tax affairs by HMRC, amid allegations that their company accounts do not match up with their sales via ticket resale sites. ...
MPs warn of tax phone line 'collapse' image
Source : BBC [Read Article] Friday 2nd of December 2016 03:23:39 AM
....Plans to move HM Revenue and Customs services online could lead to another potentially "disastrous decline" in customer service, MPs have warned. Customer service staff are being cut by about a third as HMRC expects more people to access services digitally. ...
'Disastrous decline' in HMRC customer service predicted due to cuts image
Source : Guardian [Read Article] Friday 2nd of December 2016 12:01:00 AM
....MPs believe it is possible that tax officials could experience a similar collapse to 2015/16, when members of the public were left waiting for around 4m hours for telephone calls to be answered following a reduction of 5,600 in staff numbers. They also questioned whether HMRC might be “painting too rosy a picture” of its success in reducing the gap between the amount of tax due and the total collected. ...
Families on tax-credit harassment: 'a massive headache and real worry' image
Source : Guardian [Read Article] Wednesday 30th of November 2016 10:52:18 AM
.... In the past year, Citizens Advice has seen a 32% increase in the number of issues related to the recovery of tax-credit overpayments, including the involvement of debt collectors. In some cases, debt-collection agencies hold inaccurate information from HMRC and are chasing money from individuals who already been making payments via direct debit. ...
Amazon and eBay sellers' VAT fraud rife despite crackdown image
Source : Guardian [Read Article] Monday 28th of November 2016 12:46:30 PM
.... None responded to questions about VAT. HMRC estimates the explosion in VAT fraud on Britain’s shopping websites will cost £1bn to £1. ...
Hermes drivers told of 'mandatory' Sundays over Black Friday rush image
Source : Guardian [Read Article] Thursday 24th of November 2016 03:53:32 PM
.... The firm denies the claims. Field said: “If HMRC required any further proof that legions of couriers are being treated as workers, rather than self-employed individuals, they will find it in the latest command Hermes has sent its workforce. ...
Flat rate VAT changes for small businesses explained image
Source : BBC [Read Article] Thursday 24th of November 2016 12:07:05 AM
....5% - so if the owner of that shop sells a dress for £120 including VAT of £20 he will pay a flat rate of £9 (£120 x 7. 5%) to HMRC. ...
Tax avoidance: Philip Hammond pledges to retrieve £2bn image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 05:45:27 PM
....”. He said he would close salary sacrifice schemes where employees are allowed to pay for perks such as gym memberships out of gross earnings, “shut down inappropriate use of the VAT flat rate scheme” and “introduce a new penalty for those who enable the use of a tax avoidance scheme that HMRC later challenges and defeats”. ...
Chancellor to close tax avoidance loophole exposed by Guardian image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 05:31:10 PM
....The move follows publication of undercover footage last week that revealed how temp recruitment agencies have been ramping up the use of a “contrived” scheme that seeks to make savings through the flat-rate VAT scheme and multiple claims of the employment allowance. It is understood that HMRC has received an extra 30,000 applications from small businesses to enrol in the flat-rate VAT scheme – above what it expected this year. ...
Fears Philip Hammond will launch workers tax raid in Autumn Statement image
Source : Daily Express [Read Article] Monday 21st of November 2016 04:22:00 PM
....However, giveaways could now be partially funded by axing tax incentives, such as salary sacrifice. Claire Carey, partner at law firm Sackers, said: “Salary sacrifice has long been under HMRC’s spotlight, with valuable NI savings enjoyed by those who enter into such arrangements. ...
Philip Hammond 'to mount tax raid on employee benefits' image
Source : Guardian [Read Article] Monday 21st of November 2016 01:01:37 PM
....The changes are unlikely to affect private medical insurance, which is already liable to both tax and employer national insurance contributions (NICs). In a consultation, HMRC said that in most cases the changes would only apply to income tax and employer NICs, because no employee NICs were due on the vast majority of benefits in kind. ...
Concentrix: 90% of tax-credit company appeals upheld image
Source : BBC [Read Article] Monday 21st of November 2016 10:41:50 AM
. About 90% of appeals against a company hired by Revenue & Customs (HMRC) to cut tax-credit payments have been upheld, government figures reveal. ...
Film industry tax avoiders face multi-million pound bill image
Source : BBC [Read Article] Saturday 19th of November 2016 09:15:30 PM
....Investors in a financing scheme aimed at helping the UK film industry are being asked to repay "multiple millions of pounds" following a court ruling. HMRC is pursuing investors in the Eclipse scheme, including celebrities, financiers and sports stars, for up to 20 times their original investment. ...
Autumn statement: why the chancellor mustn’t cut stamp duty image
Source : Guardian [Read Article] Saturday 19th of November 2016 07:00:01 AM
....When Osborne raised stamp duty, his prime objective was increasing revenue – and all the increase has come from London. As for the impact on the amount of tax brought into HMRC’s coffers, figures from September show that outside London, the new rates reduced the amount collected on home sales. ...

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