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.... He was released without charge at about 17:00 BST. HM Revenue and Customs (HMRC) deployed 180 officers across the UK and France. ... [Read full article on BBC ]
Wednesday 26th of April 2017 09:26:01 AM
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....Lenders are seeking custom as property sales remain static. The latest figures from HM Revenue and Customs (HMRC) show that, on a seasonally-adjusted basis, property transactions have generally been close to the 100,000 mark each month for the last three years. ... [Read full article on BBC ]
Friday 21st of April 2017 09:48:53 AM
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....A sport that generates millions in income for clubs and players has increasingly come into the spotlight, particularly in a time of belt-tightening in many other parts of society. The sport generates and churns huge financial sums in transfer fees, sponsorship, television rights, image rights, and other areas where collecting tax may be a concern for HMRC. ... [Read full article on BBC ]
Wednesday 26th of April 2017 11:25:54 AM
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Latest Finance News related to HMRC

Hard tackling image
Source : BBC [Read Article] Wednesday 26th of April 2017 11:25:54 AM
....A sport that generates millions in income for clubs and players has increasingly come into the spotlight, particularly in a time of belt-tightening in many other parts of society. The sport generates and churns huge financial sums in transfer fees, sponsorship, television rights, image rights, and other areas where collecting tax may be a concern for HMRC. ...
Arrests as Newcastle and West Ham raided in £5m tax probe image
Source : BBC [Read Article] Wednesday 26th of April 2017 09:26:01 AM
.... He was released without charge at about 17:00 BST. HM Revenue and Customs (HMRC) deployed 180 officers across the UK and France. ...
Record low rate signals mortgage battle image
Source : BBC [Read Article] Friday 21st of April 2017 09:48:53 AM
....Lenders are seeking custom as property sales remain static. The latest figures from HM Revenue and Customs (HMRC) show that, on a seasonally-adjusted basis, property transactions have generally been close to the 100,000 mark each month for the last three years. ...
How much do you have to earn to be rich? £70,000, says Labour image
Source : Guardian [Read Article] Wednesday 19th of April 2017 03:40:40 PM
....The reality is that relatively few people earn more than £70,000 a year. Data from HMRC shows that just over 5% of taxpayers earned at least this amount in 2014-15. ...
How the beery vision of brewing a small fortune can fall flat image
Source : Guardian [Read Article] Saturday 15th of April 2017 08:59:21 AM
....“We made all the classic mistakes and grew too far, too fast,” he said. “We owed HMRC money and before we knew it, they’d turned up with a lorry to take all our beer away. ...
Five pension tax mistakes that could hit YOUR nest egg image
Source : Daily Express [Read Article] Friday 14th of April 2017 06:01:00 AM
. The Treasury estimated pension changes introduced in 2015 would bring in £920million over the first two years of the policy, but HMRC has in fact pulled in double that at £2. ...
Starbucks blames UK profits plunge on Brexit and slowing growth image
Source : Guardian [Read Article] Thursday 13th of April 2017 12:32:31 PM
....Starbucks became the poster child for corporate tax avoidance in 2012 after details of its meagre tax contribution emerged. The furore prompted a deal with HMRC to waive tax deductions and pay £20m in voluntary corporation tax over two years, including £11. ...
Corbyn attacks M&S and other big firms over late supplier payments image
Source : Guardian [Read Article] Tuesday 11th of April 2017 11:13:04 AM
....He said large corporations were “privileged” by the government in their tax affairs over ordinary people or small businesses. He joked about his own tax return mishap, where he was fined for a late payment, calling it a “donation” to HMRC. ...
What is probate? Is there anything I can do to avoid rising probate fees? image
Source : Daily Express [Read Article] Thursday 6th of April 2017 05:39:00 PM
.... . “Therefore, anyone currently dealing with the administration of an estate will need to be quick to simultaneously submit the inheritance tax account to HMRC, as well as make the grant application to the Probate Registry to avoid the increase fee. ...
Pension freedoms: Thousands of savers charged emergency tax – are YOU owed money back? image
....It is thought hundreds of thousands of people could be owed a typical £3,099 after being shifted on to emergency tax codes when making withdrawals from saving pots, according to pension provider AJ Bell. HMRC rules mean the majority of savers who access pensions for the first time are charged tax at a rate that assumes further continuous monthly payments at the same level, even though for most people it is just a one-off withdrawal. ...
Speedboat among £5.1m of assets seized in tax fraud investigation image
Source : Guardian [Read Article] Wednesday 5th of April 2017 06:53:57 PM
.... If proven, evasion on this scale would amount to a “global criminal enterprise”, said Alex Cobham, chief executive of the Tax Justice Network. HMRC said it had launched a criminal investigation into suspected tax evasion and money laundering by a global financial institution and its employees. ...
Deliveroo's verbal gymnastics show commonsense not on the menu image
Source : Guardian [Read Article] Wednesday 5th of April 2017 06:29:05 PM
.... Earnings are fees, payslips are invoices and performance targets are delivery standards. It’s all designed to convince HMRC and the outside world that the setup uses self-employed riders and thus does not need to pay employer’s national insurance, contribute to pensions or offer holiday pay. ...
May and LSE chief woo Saudi ministers for $2tn Aramco listing image
Source : Guardian [Read Article] Wednesday 5th of April 2017 09:44:22 AM
....Trade talks have historically focused on arms sales, but sources insisted the prime minister had not brought a full trade delegation with her on this trip, with no one from the British multinational arms manufacturer BAE Systems. In 2015, 83% of UK arms exports almost £900m – went to Saudi Arabia, according to analysis of HMRC figures by Greenpeace. ...
Tory donor Lycamobile in £26m tax dispute image
Source : Guardian [Read Article] Monday 3rd of April 2017 05:30:14 AM
. Lycamobile, the international phone call business and a major donor to the Conservative party, is embroiled in a £26m tax dispute with HMRC over VAT. ...
How Karen Millen lost the battle for her name – and her fortune image
Source : Guardian [Read Article] Saturday 1st of April 2017 03:00:28 PM
....But despite receiving £35m for her share of the business – a blockbuster deal that involved Millen signing away the rights to use her own name – the rags-to-riches story returned to rags in the high court after she failed to hand over an estimated £6m that HM Revenue and Customs said it was owed. Millen told the Times her accountants had advised her to use a tax planning scheme, the validity of which was successfully challenged by HMRC in 2010. ...
Google reveals latest UK tax bill image
Source : BBC [Read Article] Friday 31st of March 2017 02:19:00 PM
....Google agreed to pay £130m in back taxes to the UK last year, which was widely criticised as not being enough. The sum covered money owed since 2005 and followed a six-year inquiry by Her Majesty's Revenue and Customs (HMRC). ...
Jewellery and cars seized as Dutch trigger multi-country tax raids image
....In Australia, authorities said investigators were looking for the owners of 340 anonymous bank accounts. The UK tax inspection body, HMRC, confirmed that it had launched "a criminal investigation into suspected tax evasion and money-laundering by a global financial institution and certain of its employees". ...
Credit Suisse embroiled in major global tax evasion investigation image
Source : Guardian [Read Article] Friday 31st of March 2017 08:17:57 AM
....The UK’s HM Revenue & Customs said it has launched a criminal investigation into suspected tax evasion and money laundering by a global financial institution and its employees. Warning of “further, targeted, activity over the coming weeks”, HMRC said its efforts were focused on the bank’s staff and “a number of its customers”. ...
Deliveroo riders plan legal action over employment rights image
Source : Guardian [Read Article] Monday 27th of March 2017 04:37:56 PM
....The rise of tech companies using self-employed drivers has raised fears about radical changes in employment practices. 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. ...
'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”. ...

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