Tax Tribunal backlog soars following HMRC crackdown on fraudulent umbrella companies Tax The backlog of cases waiting to be heard in the UK’s tax tribunal has surged following an HMRC crackdown on fraudulent “umbrella companies”. The number of cases waiting to be heard in the First-Tier Tax Tribunal has increased 84 per cent over the previous year to heights of 46,000, according to UK government figures. The [...]
PwC seeks to bolster top ranks by poaching partners from Big Four rivals Big Four PwC is seeking to bolster its top ranks by poaching partners from its Big Four rivals. The accounting firm is hoping to hire up to 500 new partners with expertise in tax, cloud services, financial crime, and ESG advice, the Financial Times first reported. In doing so, PwC is seeking to take advantage of discontent [...]
Amazon getting ‘free ride’ from UK retailers, Currys boss claims uk retailers Amazon is getting a “free ride” from UK retailers by using the country’s infrastructure while swerving taxes, the head of high street electronics retailer Currys said yesterday. Alex Baldock told the BBC’s Sunday with Laura Kuenssberg show Amazon “appear[s] to play by different rules than those of us who actually pay some tax”. The online [...]
Rail strikes: RMT rejects eight per cent pay rise offer December 4, 2022 Rail union the RMT has rejected an 8 per cent pay rise offered by rail operators, aimed at heading off strikes planned for next week. “We have rejected this offer as it does not meet any of our criteria for securing a settlement on long term job security, a decent pay rise and protecting working [...]
It’s long since time to bump up MPs’ pay – we need the best and brightest December 4, 2022 MPs’ pay is not up to standard It perhaps says something about being an MP that Matt Hancock would rather spend three weeks eating various less-than-pleasant parts of exotic Aussie animals than hang around in Westminster. He also felt that he could bring more light to his personal cause – screening for dyslexia in schools [...]
Insurers are undervaluing policy holders’ cars, FCA warns December 4, 2022 The UK’s financial watchdog has warned insurers against undervaluing policyholders’ vehicles after seeing evidence of customers being offered payouts less than their cars are worth. The Financial Conduct Authority (FCA) said it had seen evidence of customers who have had their cars written off being offered less money than their vehicle’s fair market price. It [...]
Linklaters cashes in on UK push to bolster naval fleet December 4, 2022 Magic Circle law firm Linklaters is cashing in on the Royal Navy’s push to bolster its fleet with the purchase of five new battleships from British arms manufacturer BAE. The City law firm is advising the UK’s Ministry of Defence (MoD) as it pushes forwards with the purchase of five new battleships from BAE Systems [...]
Bankman-Fried admits meetings on Alameda’s finances prior to FTX collapse December 4, 2022 Sam Bankman-Fried has admitted he had more knowledge of the financial health of FTX’s sister trading Alameda Research than previously suggested, as the extent of the ties between the two collapsed firms emerges.
Art dealer’s sale of aristocrat’s French masterpiece was not negligent, court rules December 4, 2022 A London art dealer who advised a British aristocrat to sell an 18th century French masterpiece for a fraction of its actual worth did not act negligently, a court has ruled. The court ruled in favour of Simon Dickinson after Amanda Fielding, Countess of Wemyss and March, sued the art dealer over claims he [...]
FTX collapse shows need for venture capital ‘correction’, says investment chief December 4, 2022 The collapse of FTX has underscored a “distortion” in the venture capital market and the need for a correction across the industry, the boss of a global investment body has said.