Bolt set for £190m VAT bill after legal defeat Tax Ride-hailing platform Bolt has been refused permission to appeal a case brought by HMRC over how it calculates and pays its VAT. This follows HMRC winning an appeal in June against the Estonian tech giant over its VAT payments and calculations, overturning earlier decisions that had ruled in Bolt’s favour. The tax authority brought the [...]
Stages of tax grief: Is it time for bankers to bargain? Banking Banks are in the firing line at the Budget and in a meeting with bosses on Tuesday chancellor John Healey played coy on any increased rates. In this week’s column Samuel Norman looks at what trade-off could be made. Also on the cards, fresh data shows fintechs are lurching ahead of the incumbents on customer [...]
UK bank bosses and John Healey set for tax showdown Banking When banking lobbyists geared up for an offensive ahead of the 2025 Budget, a tax cut barely made the wishlist. Modest in their ambitions, advocates were preparing to settle for anything that didn’t see their already eye-wateringly high tax bill rise. That is until, City AM understands, officials advised them to make a cut a [...]
British Airways defeats HMRC in £5.8m Heathrow cabin crew tax dispute September 29, 2026 British Airways has won a tax battle against HMRC over whether costs tied to cabin crew accommodation at London Heathrow Airport were subject to £5.8m in income tax and national insurance contributions. Following an appeal in June, the Upper Tribunal ruled in favour of the airline on Monday, dismissing the tax authority’s claim and finding [...]
Collagen business founder loses £3.6m tax battle September 23, 2026 The founder of a collagen company has lost a battle over a £3.6m tax bill after a judge ruled his product could not be classified as food and therefore cannot claim VAT exemption. Tony Sanguinetti founded Minerva Research Labs in London in 2009 after he “became slightly obsessed with finding a way to reverse the [...]
Former Formula 1 champion loses £1.4m HMRC tax bill appeal September 14, 2026 Former Formula 1 world champion Jody Scheckter has been forced to stump up £1.4m in unpaid tax after an appeal against an HMRC ruling on his buffalo farm failed in court. The 1979 F1 title-winner was forced to close the buffalo farm business in 2024 due to “significant increases in costs, a reduction in milk [...]
Haigh and Healey to host business chiefs in Downing Street September 14, 2026 Louise Haigh and John Healey will lead meetings with top business chiefs in Downing Street this evening after Andy Burnham cancelled his official engagements following the death of his father. The First Secretary of State will host a roundtable with entrepreneurs, which is set to be followed by an evening drinks reception. The Chancellor and [...]
‘Calm before the storm’: City warns Healey growth spurt won’t last September 11, 2026 The UK economy’s surprise summer growth spurt is set to be “blown away” by a spike in energy prices and a recent surge in the cost of borrowing, economists have warned the government. Fresh figures revealed on Friday that the economy expanded 0.4 per cent in July, ahead of initial forecasts that predicted flat growth. [...]
Hospitality sector blasts Burnham’s uncapped tourist tax September 10, 2026 The hospitality sector has blasted proposals from Andy Burnham’s government to introduce a fresh tax on tourists. The industry has been left reeling after the government confirmed a new overnight levy on tourists that will have no upper cap. Regional authorities are set to be handed the power to introduce a levy to support regional [...]
Unleash growth or you’ll have to hike taxes even higher, FTSE 100 boss warns Healey September 8, 2026 The government must unleash growth in the forthcoming Budget or ministers will be forced to hike taxes even higher at future fiscal events, the boss of the largest player in the UK pensions market has warned. Andy Briggs, the chief executive of Standard Life, told City AM the UK’s ageing population leaves the Chancellor John [...]