£4.5bn black market cigarette tax loss should be ‘a major wake-up call’ for Labour June 4, 2026 Over half of cigarettes smoked in the UK are black market and are contributing £4.5bn to the country’s tax losses – a record high – according to new analysis from KPMG and tobacco giant Philip Morris. The findings show that 1.5bn more black-market, tax-free cigarettes were consumed by UK smokers last year compared to 2024, [...]
Number of private school pupils plummets after Labour’s VAT hike on fees June 3, 2026 Private school pupil numbers have plummeted by 30,000, down nearly 7 per cent in some year groups, since Labour introduced VAT on fees. As of 1 January 2025, private school fees in the UK, including tuition and boarding, are subject to 20 per cent VAT, a change announced by Chancellor Rachel Reeves in her 2024 [...]
Private equity-backed Ryan triumphs in bidding for European tax adviser Svalner Atlas June 1, 2026 Private equity-based US accountancy firm Ryan has reportedly agreed to acquire European tax adviser Svalner Atlas Advisors in a deal reportedly worth $400m. Headquartered in Texas and with a presence in London, Ryan specialises in tax services and has BP and BAT among its clients. The firm was valued at about $7bn earlier this year, [...]
HMRC fights to close Bolt’s VAT loophole May 19, 2026 Ride-hailing platform Bolt faces the tax authorities in court today over how it calculates and pays its VAT bill. At the centre of this dispute was the question of whether Bolt could use the tour operators’ margin scheme (TOMS). Under this scheme, businesses only pay VAT on the profit margin they make between buying a [...]
Premier League clubs’ success could earn HMRC £40m windfall May 19, 2026 Premier League clubs’ unprecedented success in Europe this season could earn HMRC a £40m windfall, according to tax experts. Bonuses paid out to players for winning domestic and continental trophies could hit £70m, generating a lucrative pot for the taxman, if Arsenal, Aston Villa and Crystal Palace clean up in the next two weeks. The [...]
Shakira’s taxes don’t lie as singer wins £48m tax row May 18, 2026 A Spanish court has ordered the country’s tax authority to repay Colombian singer Shakira £48m after ruling that it had improperly collected the money in a dispute over her tax payments. In a statement published today, Madrid’s National Court said it has upheld Shakira’s appeal against the fine she was hit with five years ago, after [...]
Tax judge criticises ‘fabricated AI cases’ cited in appeal against HMRC May 18, 2026 A former West Sussex restaurateur has avoided contempt of court after using AI hallucinations as evidence in his £51,000 tax battle against HMRC. HMRC had sent letters to Omar Rafique, former director of Karma Lounge in Worthing, in 2024 demanding payment of over £51,200 and warning that he could face bankruptcy if the debt was [...]
UK businesses eyeing shift to ‘more predictable’ tax regimes May 14, 2026 UK businesses are considering relocating abroad for a more stable tax and regulatory landscape, according to new research from consulting and network Baker Tilly International. The group, in its annual mid-market survey conducted earlier this year, found that out of all nine markets and 1,500 business leaders surveyed, including in the US, China, and India, [...]
HMRC: self-employed workers twice as likely to file taxes late May 8, 2026 Self-employed workers are twice as likely to file their taxes late compared to higher earners, City AM can reveal, amid renewed focus over the administrative burden facing freelancers and sole traders. Those that are self-employed and on the lowest incomes below the basic tax rate threshold, are “significantly more likely to miss the self assessment [...]
HMRC handed red card in £584,000 football referee tax lawsuit May 5, 2026 HMRC has lost a long-running legal battle against the UK’s football refereeing body over the employment status of 60 referees, after the tax authority issued a £584,000 tax bill. In a judgment on Friday, the First Tier Tribunal (FTT) upheld that the referees were self-employed and not employed by the body, the Professional Game Match [...]