The ultra rich exodus has made an exit tax tempting. Would it work? September 25, 2024 Millionaires are leaving the UK in record numbers, prompting the Resolution Foundation, an influential left-wing think tank, to propose an exit tax.
Freezing orders skyrocketed as HMRC cracks down on suspected criminal activity September 23, 2024 HMRC's use of account freezing orders has jumped by 170 per cent over the last three years, due to its crack-down on suspected criminal behaviour
English football referees’ v HMRC: Top UK court dismisses £584,000 tax appeal September 16, 2024 The Supreme Court has dismissed an appeal from the football refereeing body regarding the employment status of 60 referees after the body was hit a £584,000 tax bill. HMRC hit Professional Game Match Officials Limited (PGMOL) with the tax bill after it determined it should have paid taxation and National Insurance payments for the tax [...]
Small business tax evasion costing HMRC billions as ‘significant gaps’ persist September 9, 2024 Small business tax evasion has caused the UK to lose billions of pounds of revenue a year as "significant gaps" in the UK's tax authority's strategies persist.
The Bank of London Group handed HMRC winding-up order after chief steps down September 7, 2024 The Bank of London Group, a fintech unicorn boasting Peter Mandelson on its board, was handed a winding-up petition by the UK's tax authority just two days after saying its founder would step down as chief executive, City A.M. can reveal.
Non-dom policy change could lead to ‘exodus’ of wealthy investors, study finds September 4, 2024 Planned changes to the non-dom tax regime could trigger a “mass exodus” of wealthy investors from the UK, costing the taxpayer around £1bn by the end of this parliamentary term, a new report has warned. The study from Oxford Economics, which polled 72 non-doms and over 50 tax advisors, found nearly two thirds of people [...]
Rugby commentator Stuart Barnes loses £700,000 IR35 case against HMRC August 29, 2024 Former Sky Sports rugby commentator Stuart Barnes is the latest celebrity to be stung by IR35 after a top tax Tribunal overturns his appeal to foot a near £700,000 bill to HMRC.
Britain missing out on billions of crypto tax revenue as HMRC fights back August 27, 2024 The UK could be missing out on billions in tax revenue from crypto investors that is currently going unreported. As Norwegian tax returns are public, recent research from Norway was able to find that 88 per cent of all Norwegian crypto investors fail to declare their holdings. While each tax-avoiding investor owed on average between [...]
Exclusive: HMRC files winding up petition against Lycamobile UK August 14, 2024 The UK tax authority has hit mobile network operator Lycamobile with a winding up petition, in the latest hurdles the company faces
Football v HMRC: Scrutiny sees £400m clawed back from clubs August 12, 2024 The football industry continues to see the crackdown over tax as over the past five-years, HMRC has seen over £384m collected in unpaid taxes from the football sector