Kaye Adams, presenter of ITV’s Loose Women, has won a protracted ten-year dispute with HM Revenue & Customs (HMRC) over her employment status. After multiple court victories, HMRC announced it would not appeal against Adams’s latest win, concluding a case that has highlighted significant criticisms of the tax authority’s approach to IR35 regulations. The dispute […]
Breadcrumb Trail Links Finance Banking News Promise to lower taxes for corporations, enforce fewer regulations could rub off on biggest lenders Get the latest from Naimul Karim straight to your inbox Sign Up Published Nov 06, 2024 • 2 minute read Some of Canada’s biggest banks are poised to make gains with Donald Trump set […]
The UK tech industry is on edge as speculation mounts over potential changes to Capital Gains Tax (CGT) in the upcoming Autumn Budget. Leading audit and advisory firm Blick Rothenberg has expressed concerns that such changes could have a detrimental impact on the fintech ecosystem, a key driver of the UK’s global tech reputation. Simon […]
Investors are withdrawing money from their pension pots in increasing numbers, fearing potential tax rises in the upcoming budget. AJ Bell, one of the UK’s largest DIY wealth managers, has reported a significant uptick in pension withdrawals, as clients move to secure tax-free lump sums ahead of possible changes by the government. Michael Summersgill, AJ […]
HMRC has ramped up its enforcement of National Minimum Wage (NMW) compliance, resulting in £13.7 million in penalties levied against employers during the 2022/23 tax year. This enforcement push follows the government’s increasing focus on NMW violations, supported by a doubling of HMRC’s enforcement budget to £27.8 million compared to 2015/16. A recent report by […]
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A sharp increase in creditors’ voluntary liquidations (CVLs) has raised alarms about potential abuse of the process, allowing companies to shed debts with minimal scrutiny. CVLs, where a company’s shareholders agree to wind up the business due to insolvency, have reached record levels, making them the most common form of corporate insolvency in the UK. […]
HMRC has reported a significant 21% drop in research and development (R&D) tax credit claims for the 2022/23 tax year, with the number of claims falling to 65,690 from 83,240 in the previous year. Nikhil Oza, Partner at UHY Hacker Young, attributes the decline to HMRC’s increasingly stringent claim processing, which is discouraging small businesses […]
Labour’s proposed expat exit tax has come under fire from leading audit, tax, and business advisory firm Blick Rothenberg, which warns that the policy could drive Foreign Direct Investment (FDI) away from the UK to more tax-friendly countries like France. Vanesha Kistoo, Head of Blick Rothenberg’s French Desk, described the proposed tax as “deeply flawed” […]
A rising number of families are being unexpectedly hit with inheritance tax (IHT) bills on gifts, as more people fall foul of the complex seven-year rule, recent figures reveal. The rule stipulates that any assets transferred within seven years of a person’s death are considered part of their estate for tax purposes, subject to a […]