Topic filter : Unpaid Tax

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....Ana Arendar, Oxfam’s head of inequality, said: “These companies have deepened their use of tax havens and increased efforts to build influence to push for even greater tax breaks than they already have. Corporate tax dodgers cheat the US out of approximately $135bn in unpaid tax revenues every year and poor countries out of an estimated $100bn annually. ... [Read full article on Guardian ]
Wednesday 12th of April 2017 04:00:25 AM
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.... With 400 outlets spread across 65 countries, there is even a store that bears the Kent-born designer’s name in Mongolia. But last week Karen Millen, the woman, became famous all over again for the wrong reasons, after suffering the humiliation of being declared bankrupt over an unpaid tax bill. ... [Read full article on Guardian ]
Saturday 1st of April 2017 03:00:28 PM
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Latest Finance News related to Unpaid Tax

Donald Trump’s tax holiday 'would help top US companies save $300bn' image
Source : Guardian [Read Article] Wednesday 12th of April 2017 04:00:25 AM
....Ana Arendar, Oxfam’s head of inequality, said: “These companies have deepened their use of tax havens and increased efforts to build influence to push for even greater tax breaks than they already have. Corporate tax dodgers cheat the US out of approximately $135bn in unpaid tax revenues every year and poor countries out of an estimated $100bn annually. ...
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
.... With 400 outlets spread across 65 countries, there is even a store that bears the Kent-born designer’s name in Mongolia. But last week Karen Millen, the woman, became famous all over again for the wrong reasons, after suffering the humiliation of being declared bankrupt over an unpaid tax bill. ...
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
....5bn in 2014-15 – when the overall income tax take rose by £23bn. The committee said about a third of the individuals concerned were likely to be under inquiry by HMRC for unpaid tax – with cases with a potential value of £1. ...
Banks may groan – but Andrew Tyrie is right to launch a new inquiry image
Source : Guardian [Read Article] Monday 19th of December 2016 07:05:55 PM
.... When the sum at stake is €13bn (£10. 8bn) in allegedly unpaid taxes, Vestager would be failing in her job if she didn’t act. ...
Ireland may not get Apple's €13bn back taxes in full, EU says image
Source : Guardian [Read Article] Monday 19th of December 2016 11:56:26 AM
....Ireland may never see the full €13bn (£10. 8bn) in unpaid taxes owed by Apple, the European commission has said, if other EU countries go after the American tech giant for a share. ...
Former BHS owner Chappell arrested for 'unpaid tax bill' image
Source : BBC [Read Article] Sunday 13th of November 2016 10:08:17 PM
. Dominic Chappell, the serial bankrupt who bought BHS for £1, has been arrested in relation to an unpaid tax bill of about £500,000. ...
BHS scandal: Dominic Chappell arrested amid tax investigation image
Source : Guardian [Read Article] Sunday 13th of November 2016 11:08:49 AM
. Dominic Chappell, the former owner of BHS, has been arrested as part of an investigation into unpaid taxes on profits made from the collapsed department store chain. ...
G20 leaders told 'avoid empty talk' by China's Xi Jinping image
Source : BBC [Read Article] Sunday 4th of September 2016 09:36:01 AM
...."Overcapacity is a global problem but there is a particular Chinese element," Mr Juncker said. He also defended the EU commission's decision to hit tech giant Apple with a €13bn (£11bn) bill for unpaid taxes, saying it was not aimed at the US. ...
US criticises EU tax probes ahead of Apple ruling image
Source : BBC [Read Article] Wednesday 24th of August 2016 04:45:07 PM
....Next month the EU is expected to deliver its decision on Apple. The company could be hit with a multi-billion pound bill for unpaid taxes. ...
HMRC claims victory in film tax battle image
Source : BBC [Read Article] Friday 5th of August 2016 11:35:12 AM
....Users of the Ingenious scheme were given the opportunity to settle on similar terms nearly four years ago, said HMRC. They now face big bills for interest on top of the £43m in unpaid tax resulting from the scheme. ...
Weekend tax credit and tax payment deadlines alert image
Source : BBC [Read Article] Friday 29th of July 2016 09:00:12 PM
....Interest is charged if the payment deadline is missed. After 28 days without payment, following the deadline, a surcharge is 5% of any unpaid tax is levied. ...
Councils too quick to send in bailiffs, says Citizens Advice image
Source : BBC [Read Article] Thursday 7th of July 2016 11:21:31 PM
...."Councils have a duty to their residents to collect taxes, so important services are not affected," said an LGA spokesperson. "But we realise that times are tough, and councils do their best to protect those affected the most, whether through introducing hardship funds or taking a sympathetic and constructive approach to the way we collect unpaid tax. ...
Gambling Commission orders Betfred to pay £800,000 image
Source : Guardian [Read Article] Tuesday 14th of June 2016 09:33:51 AM
....The court heard that Stevens “bled” the company accounts dry and covered up the theft by fabricating transactions. He continued to protest his innocence even after HMRC flagged up some £250,000 in unpaid taxes, falsifying documents to suggest that the tax authority had made a mistake. ...
Nick and Christian Candy accused of tax evasion in high court image
Source : Guardian [Read Article] Monday 13th of June 2016 11:53:16 AM
....In a dramatic twist, emails were read out in court that the claimants say show Nick acting as a shadow director of his brother’s firm. If the allegations are proven, Holyoake’s lawyers say the brothers could face a bill for unpaid taxes from HM Revenue and Customs. ...
French tax authorities seek €356m from Booking.com image
Source : Guardian [Read Article] Wednesday 1st of June 2016 06:10:54 PM
. French tax authorities are seeking €356m (£276m) in unpaid taxes from Booking. ...
French prosecutor used covert measures in Google investigation image
Source : Guardian [Read Article] Tuesday 31st of May 2016 05:18:59 PM
.... Its parent Alphabet has reportedly received a bill for €1. 6bn in unpaid taxes from the French government. ...
France 'to go all the way' to make multinationals pay their taxes image
Source : Guardian [Read Article] Sunday 29th of May 2016 12:48:25 PM
....A preliminary inquiry into McDonald’s was opened early this year after former investigating magistrate and politician Eva Joly filed a lawsuit in December on behalf of an employee committee, a judicial source said. French business magazine L’Expansion reported last month that authorities had sent McDonald’s France a €300m bill for unpaid taxes on profits believed to have been funnelled through Luxembourg and Switzerland. ...
French minister urges UK to stamp out tax secrecy in its territories image
Source : Guardian [Read Article] Wednesday 11th of May 2016 05:38:18 PM
....6bn in back taxes from the US internet giant Google, refusing – unlike the UK – to strike a deal with the company. French authorities also sent McDonald’s France a €300m bill for unpaid taxes on profits believed to have been funnelled through Luxembourg and Switzerland, reported the business magazine L’Expansion last month. ...
PricewaterhouseCoopers pays €37m to save Spanish employees from jail image
Source : Guardian [Read Article] Wednesday 13th of April 2016 01:21:14 PM
.... The anti-corruption attorney-general’s office said PwC’s willingness to pay up was key to reaching a settlement. The €37m is made up of €17m in unpaid tax, €11m in interest and a €9m fine. ...
Obama calls for international tax reform amid Panama Papers revelations image
....The revelation that a company engaged in industrial-scale offshore tax avoidance, even on US soil, comes after Obama has repeatedly spoken out against companies and the super-rich exploiting the US tax code. Soon after he took office in 2009, Obama outlined plans to crack down on offshore tax havens and return more than $200bn in unpaid taxes to the US. ...
Lycamobile faces fine after company fails to file 'acceptable' accounts image
....5m since 2011, is already facing the possibility of a £9. 5m bill from HM Revenue & Customs for unpaid tax. ...
HMRC aims at mother of two while continuing 'soft' treatment of Google image
Source : Daily Express [Read Article] Sunday 28th of February 2016 11:57:00 AM
. The taxman is pursuing “J”, the sole breadwinner in her household, for £15,000 in unpaid taxes on a redundancy payment that she received in 2009. ...
France seeks €1.6bn in unpaid Google tax image
Source : BBC [Read Article] Wednesday 24th of February 2016 11:37:55 PM
Revealed: how Project Goldcrest helped Amazon avoid huge sums in tax image
Source : Guardian [Read Article] Thursday 18th of February 2016 01:44:51 PM
....The case, which could force Amazon to pay more than $1. 5bn (£1bn) in unpaid taxes, throws into sharp relief tensions between the US and Europe over how to tax multinationals that operate in both jurisdictions. ...
EU proposals will force multinationals to disclose tax arrangements image
Source : Guardian [Read Article] Sunday 7th of February 2016 10:00:08 PM
....Juncker was Luxembourg’s finance minister and prime minister between 1995 and 2009. The competition commissioner, Margrethe Vestager, has already found Starbucks in the Netherlands and Fiat in Luxembourg culpable of tax avoidance and ordered them to pay €30m (£23m) each in unpaid taxes. ...
German arm of Maple Bank shut down image
Source : BBC [Read Article] Sunday 7th of February 2016 03:15:50 PM
....The German arm of Canada's Maple Bank has been closed by German authorities. Bafin, Germany's financial watchdog, said Maple had to set aside funds to cover unpaid taxes and that was threatening its financial position. ...
Tory party donor Lycamobile faces being struck off UK company register image
Source : Guardian [Read Article] Tuesday 26th of January 2016 12:37:08 PM
....The company, which has handed millions to the Tory party, is already facing the possibility of a £9. 5m bill from HM Revenue & Customs for unpaid tax. ...
Don’t fob us off with this pitiful Google tax gesture | Margaret Hodge image
Source : Guardian [Read Article] Saturday 23rd of January 2016 09:00:12 PM
.... It took some courageous whistleblowers to prise open what was really happening. French authorities are pursuing Google for $1bn in unpaid tax. ...
 Cairn Energy to challenge $1.6bn India tax claim image
Source : Telegraph [Read Article] Tuesday 19th of January 2016 01:44:02 PM
.... It demands that the UK-based oil explorer pay $1. 6bn plus interest and penalties arising from unpaid tax owed by Cairn's India operations in 2007. ...
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100,000 British firms owed £16bn they may never recoup image
Source : Telegraph [Read Article] Saturday 2nd of January 2016 05:25:13 PM
.... . In its latest tax gap report, HMRC estimated it writes off £4bn a year as a result of unpaid taxes following insolvencies, which generated a final figure of £16bn in unsecured debt in insolvencies last year. ...
Counterfeit Christmas image
Source : BBC [Read Article] Friday 11th of December 2015 09:28:09 PM
....The trade in counterfeits in the UK is believed to run into billions of pounds - with the government estimating that it loses £1. 3 billion in unpaid tax from the sale of fakes. ...
Strippers told to reveal tax affairs image
Source : BBC [Read Article] Friday 4th of December 2015 11:24:43 AM
....Strippers, online escort agencies and adult club owners have been told to reveal all when it comes to their tax affairs. The industry is being targeted in a UK-wide campaign by HM Revenue and Customs (HMRC) aimed at recouping unpaid tax. ...
European Commission launches probe into McDonald's tax affairs image
Source : Telegraph [Read Article] Thursday 3rd of December 2015 02:16:26 PM
....co/e88ttcrG7z. In a landmark decision earlier this year, the Commission ordered the Netherlands to bill Starbucks for €20m to €30m of unpaid taxes, a decision that the Dutch finance ministry is appealing, and instructed Luxembourg to claim the same amount from Fiat Chrysler. ...
HMRC makes start-up investors wait a year for refunds image
Source : Telegraph [Read Article] Wednesday 11th of November 2015 02:31:09 PM
.... . Accoutants have told Telegraph Money that In some cases HMRC has pursued investors for unpaid tax when those individuals are themselves owed money by the taxman. ...
HMRC 'taskforces' raked in an extra £109m this year - here's how image
Source : Telegraph [Read Article] Sunday 25th of October 2015 06:50:27 AM
. Whether you're a hairdresser in Lincoln or lawyer in Kent, a team of investigators in Whitehall could be combing through your financial affairs in search of unpaid tax. ...
EU takes member states to court over 'bail-in' laws to protect taxpayers image
Source : Telegraph [Read Article] Thursday 22nd of October 2015 05:30:39 PM
.... . The EU's competition regulator ordered both governments to claw back €20m-€30m from Starbucks and Fiat in unpaid taxes earlier this week. ...
Justice for the taxpayer – Starbucks and Fiat ordered to repay £44m in dodged levies image
....Fiat's financing company only paid taxes on underestimated profits. The Netherlands and Luxembourg will now have to recover the unpaid taxes from the two firms. ...
EU rules Starbucks 'sweetheart' tax deals are illegal state subsidies  image
Source : Telegraph [Read Article] Wednesday 21st of October 2015 11:50:51 AM
. The European Commission has ordered Starbucks and Fiat to pay €20m-€30m in unpaid taxes, in a ruling which equates corporate tax breaks to illegal state subsidies. ...
Renault sign letter of intent to buy controlling stake in Lotus F1 image
Source : BBC [Read Article] Monday 28th of September 2015 08:59:29 AM
.... . Lotus F1 were due in court on Monday over unpaid tax, but the case was adjourned until 7 December. ...
Lotus given seven days in HMRC case image
Source : BBC [Read Article] Friday 18th of September 2015 02:07:06 PM
....Lotus has been given seven days breathing space in insolvency proceedings brought by Revenue and Customs (HMRC). The Formula 1 team, based in Enstone, Oxfordshire, is facing administration over a £900,000 unpaid tax bill. ...
SuperGroup's former finance director misses out on £2.6m of shares after bankruptcy declaration image
.... Mr Wills, who had been finance director for almost three years, left the FTSE 250 firm after he admitted that he had been declared bankrupt following a tax dispute. The dispute with HM Revenue & Customs was said to have been related to an unpaid tax bill on income he had earned prior to joining SuperGroup. ...
John Timpson: the Greek crisis will never be solved by Brussels image
Source : Telegraph [Read Article] Sunday 19th of July 2015 08:53:48 PM
.... It is easy to find some damning statistics. Unemployment in Greece is around 25pc, the black market is reckoned to be at least 25pc of GDP and tax evasion is so prevalent the government is owed around £65bn in unpaid tax. ...
Taxman's power to raid bank accounts 'flies in the face of Magna Carta' image
.... . Mr Hoar, a prominent human rights lawyer and lecturer, said there are "significant flaws" in the new plans, which would enable HM Revenue & Customs (HMRC) to take money from accounts to resolve unpaid tax bills. ...
Taxman gets new US-style powers to raid tens of thousands of personal bank accounts to recover debts image
. Tens of thousands of people will have their personal bank accounts raided by inspectors chasing unpaid tax bills due to a change in the law, despite new safeguards introduced after widespread concern. ...
One in four calls to the taxman are not answered  image
Source : Telegraph [Read Article] Friday 26th of June 2015 11:20:55 AM
.... • What does the taxman know about you, your finances and your lifestyle? . • HMRC demands £1m from scaffolder – over £11,000 unpaid tax . ...
British tourists will be hit by Greek tax hike plans  image
Source : Telegraph [Read Article] Tuesday 23rd of June 2015 07:30:06 PM
.... Greece loses up to €20bn in tax evasion every year. Figures from May showed unpaid taxes had reached €1bn last month, and more than €5bn for the year. ...
Another bout of hyperinflation may be what's needed to bring Greeks to their senses image
.... The overall primary surplus so far this year appears largely to be down to simply not paying bills, and in any case, the country seems to have sunk back into deficit in May. Most likely - with the economy again contracting, capital fleeing the country as fast as the cheques can be cleared, and an ever rising backlog of unpaid taxes - there remains a sizeable and growing underlying shortfall. ...
Hopes for Greece bailout deal rise sharply as Athens gives ground image
Source : Guardian [Read Article] Monday 22nd of June 2015 07:00:05 PM
....Alexis Tsipras is offering to achieve a 1% surplus this year, 2% next year, and 3% in 2017. It is a tall order for a country that has lost a quarter of its national income since the financial crash, has to cope with an unemployment rate of 26% and is owed €76bn in unpaid taxes. ...
European authorities forced to stave off Greek banking collapse as capital controls loom  image
.... Uncertainty over the country's future has also seen tax revenues collapse. The level of unpaid taxes rose to a €1bn in May, taking the total outstanding tax bill to more than €5bn so far this year. ...
HMRC demands £1m from scaffolder – over £11,000 unpaid tax image
Source : Telegraph [Read Article] Friday 12th of June 2015 12:15:10 PM
.... The taxman accused Matthew Hodges of evading £529,536 in VAT due on the scaffolding projects he carried out since 2006. On top of the unpaid tax, HMRC demanded £399,734 as a penalty for non-payment. ...
HSBC pays out £28m over money-laundering claims image
Source : Guardian [Read Article] Thursday 4th of June 2015 01:18:34 PM
....HSBC’s Swiss arm is still facing investigations by US, French and Belgian authorities. Belgium said on Tuesday it was hoping to recover £390m in unpaid taxes from citizens who had hidden funds in undeclared Swiss accounts. ...
Belgium targets £390m in unpaid tax as HSBC considers job cuts image
Source : Guardian [Read Article] Tuesday 2nd of June 2015 04:36:07 PM
. Belgium is hoping to retrieve €540m (£390m) in unpaid tax avoided from money hidden in HSBC Swiss bank accounts. ...
Sports Direct 'needs power check' image
Source : BBC [Read Article] Sunday 12th of April 2015 11:10:29 PM
...."At one level, to use a technical phrase, this all looks well dodgy," he added. The committee chairman, Labour's Ian Davidson, lamented how the process left the taxpayer "done over" in having to meet redundancy costs and unpaid taxes. ...
'HMRC's muddle left me with an ever increasing tax demand' image
Source : Telegraph [Read Article] Friday 10th of April 2015 07:52:26 AM
.... My involvement led to HMRC waiving the remaining £377. 52 unpaid tax. ...
Half a million more people summoned to court over unpaid council tax, after benefits scrapped image
....”. A Local Government Association spokeswoman said: “Many councils have introduced hardship funds or have changed the way unpaid tax is collected. ...
HSBC sifts through Jersey accounts to avoid tax trouble image
Source : Independent [Read Article] Wednesday 18th of March 2015 01:28:52 AM
....HMRC began investigating the bank’s Jersey accounts three years ago in the wake of a leak from a whistleblower. In February, The Independent revealed that the taxman was now examining some 170 individuals and could collect anything between £10m and £20m in unpaid taxes. ...
HSBC closing Britons' Jersey accounts amid ID checks image
Source : BBC [Read Article] Tuesday 17th of March 2015 06:01:46 AM
....The Daily Telegraph reported at the time that more than 4,000 British residents with accounts at HSBC Jersey included a well-known drug dealer and bankers facing fraud allegations. HMRC said its inquiry is currently looking into 170 of the cases and expects to raise £10m-£20m in unpaid taxes and penalties. ...
Cairn Energy shares plunge 18.3% after India tax row image
Source : BBC [Read Article] Wednesday 11th of March 2015 10:52:09 AM
....3% on Wednesday following Tuesday's announcement that it must pay a $1. 6bn (£1bn) fine for unpaid tax in India. ...
Cairn Energy faces £1bn Indian tax demand image
Source : BBC [Read Article] Tuesday 10th of March 2015 07:36:53 PM
....Edinburgh firm Cairn Energy has been served with a $1. 6bn (£1bn) bill for unpaid tax in India. ...
SuperGroup finance chief Shaun Wills removed from position after being declared bankrupt image
....The high street fashion chain behind Superdry has been forced to sack its finance director, Shaun Wills, after he was declared bankrupt. He is understood to have been in dispute over an unpaid tax bill and filed papers for bankruptcy with the High Court two weeks ago. ...
USC collapse will cost taxpayer £700,000 image
Source : Independent [Read Article] Tuesday 24th of February 2015 12:18:28 AM
....Administration documents filed with Companies House are expected to be pored over by the Scottish Affairs Select Committee, which will question Mr Ashley and other executives from Sports Direct about the administration and the company’s use of zero-hours contracts. The papers show that HM Revenue & Customs is owed £576,449 in unpaid taxes and staff are owed £106,005 in wages and redundancy pay. ...
HSBC to apologise for allegedly helping its clients evade tax image
Source : Daily Express [Read Article] Sunday 22nd of February 2015 09:18:00 AM
....Flint will be asked to provide reassurances that oversight processes, systems and standards are up to scratch and that its private banking arm has been cleaned up. Homer will be questioned as to why the taxman has managed to recover only £135 million in unpaid taxes using the HSBC data. ...
Source : Independent [Read Article] Saturday 14th of February 2015 12:36:46 AM
....When asked if she knew of the 2008 offer, Ms Homer said she was “not aware of” the email. MPs also rounded on the agency for securing just a single conviction out of around 3,000 names, and for recovering just £135m in unpaid tax, less than the French or Spanish authorities. ...
Tax authority to expand probe into HSBC accounts image
Source : BBC [Read Article] Wednesday 11th of February 2015 03:11:40 PM
.... . They told the committee that fining tax dodgers and reclaiming unpaid tax instead was the most effective route to recovering money, and that successful prosecutions depended on having sufficient evidence to meet a very high legal threshold, with a final prosecution decision lying with the Crown Prosecution Service. ...
HSBC tax leaks: HMRC boss to face questions from MPs over claims department failed to act on tax evasion allegations image
....HMRC was handed the information in 2010 but, although 1,1000 people in the UK were found to have not paid enough tax, only one has been prosecuted for tax evasion. As a result of investigations by HMRC, some £135m in unpaid tax, interest and penalties have since been handed over by the British citizens involved, it is claimed. ...
HSBC tax leaks: FCA was not formally told about the scandal, says Martin Wheatley image
....BBC Panorama said it had seen thousands of documents from the company's Swiss subsidiary which showed that some clients were able to conceal money from HMRC. As a result of investigations by HMRC, some £135m in unpaid tax, interest and penalties have since been handed over by the British citizens involved, it is claimed. ...
HSBC leaks Q&A: A global scandal or a storm in a Swiss tea-cup? image
Source : Independent [Read Article] Monday 9th of February 2015 07:22:37 PM
....On a more prosaic level, the data highlights the apparent laxity and sloth of the UK legal and tax authorities relative to other countries. According to Parliament’s Public Accounts Committee (Pac), France had recouped £188m in unpaid tax as a result of the Lagarde list by last Summer. ...

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