Women’s private pension pots in the UK are typically worth 35% less than those of their male colleagues by the time they reach 55, according to the first major government study into what has been termed “the great gender pension chasm”. Having analysed the data for both sexes between 2018 and 2020, government researchers concluded […]
UK businesses overpaid £11.9bn in corporation tax the past year says UHY Hacker Young, the national accountancy group. UHY Hacker Young warns businesses that HMRC will not automatically refund them if they overpay corporation tax. They must reclaim any overpayment themselves – and if they fail to realise they have overpaid, they will miss out […]
Breadcrumb Trail Links News Finance Banking Rapid deposit flight requires more financial oversight Get the latest from Stephanie Hughes straight to your inbox Sign Up Peter Routledge, head of OSFI, said there is more regulators can do to manage the rapid outflow of deposits that led to the failure of Silicon Valley Bank. Photo by […]
Government proposals to streamline the research and development (R&D) tax relief system have been called into question by top 10 accountancy firm Azets. The plans would mean merging the two current schemes and potentially revamping permissible qualifying activity and claimant criteria. A consultation on the proposals by HM Treasury and HM Revenue & Customs concluded […]
Bitcoin could reach $100,000 by the end of next year, an analyst at Standard Chartered has claimed. Geoffrey Kendrick said he expected investors to pile their money into cryptocurrency markets now that the “crypto winter” was over. This month the digital currency’s value rose above $30,000 for the first time since June, although it has […]
Sky Sports tennis presenter has lost an IR35 tax case against HMRC on a technicality. Barry Cowan had appealed a previous decision by HMRC that he should be treated as an employee of Sky for tax purposes, relating to work carried out between the 2014 and 2019 tax years. The appeal was made by a […]
Some £177.6 million was lost to impersonation scams last year, with more than 45,000 cases reported, according to a finance industry trade body. UK Finance, which leads the Take Five campaign, highlighting the dangers of fraud, said there were 45,367 cases of this type of fraud in 2022. The figures were released during Take Five […]
Despite the raft of tax hikes introduced this month, on the two-year anniversary of private sector IR35 reform, the legislation still tops contractors’ concerns The arrival of the 2023/24 tax year and with it an array of tax increases impacting freelancers and contractors does not detract from the fact that the IR35 legislation remains these […]
A businessman who presided over one of Britain’s worst “pension liberation” scandals was branded evasive, hostile and guilty of “highly regrettable conduct”, according to the judgment in a tax tribunal published yesterday. Craig Tweedley, founder of the pension scheme company Ark LLP, displayed “a total disregard for due diligence and careful administration and was primarily […]
Binance faces a ban in the United States after being sued by an American watchdog for breaking and ignoring a host of financial and market rules. In a searing court filing, the Commodity Futures Trading Commission alleged that the world’s largest crypto trading platform had put its commercial success over compliance with US law in […]