Partner pay of £760m puts BDO ahead of Big Four rivals EY and KPMG as challenger firm sees revenue surge December 2, 2021 Partners at BDO saw their profits increase to over three quarters of a million pounds, putting them ahead of their peers at rival firms EY and KPMG. Profit per equity partner before tax increased to £760,000 at BDO following a 14 per cent drop last year, while EY partners were paid an average of £749,000 [...]
HMRC to crack down on umbrella companies used to hire temp workers December 1, 2021 The government's tax department plans to crack down on umbrella companies avoiding paying workers and their taxes.
UK’s biggest businesses should be reinvesting, not plugging Treasury’s holes November 30, 2021 So now we know: those with the broadest shoulders really are taking on their fair share of the burden. This is hardly a surprise, of course, except perhaps to those who still pine for the Corbynista dream of taxing British business out of existence, but the PwC research in today’s City A.M. does at least [...]
Boris Johnson social care changes dubbed ‘working-class dementia tax’ by Keir Starmer November 25, 2021 The prime minister was accused of launching a “working-class dementia tax” by Sir Keir Starmer in the Commons yesterday, following changes to social care. The accusations came after Boris Johnson announced changes earlier this week to his social care policy which will see older, less well-off people face costs of up to £86,000 for their [...]
Stop patching – start rewriting: modernising tax administration November 25, 2021 | City Talk An unsuspecting taxpayer might assume that the Taxes Management Act 1970 (TMA) would tell them all they need to know about complying with their tax obligations – and HMRC’s powers to enforce that compliance. However, they would be disappointed. What is wrong with TMA? Since 1970 there have been major upheavals in the rules for [...]
Conservative MP Ben Everitt paid by accounting body which voted against tax on consultants November 22, 2021 A conservative MP who spoke out in Parliament against extensions to a tax law on consultants also earned thousands of pounds himself from an accounting group that lobbied against the tax, according to reports. Ben Everitt, the MP for Milton Keynes North, was paid nearly £14,000 for 60 hours of work for the Institute of Chartered [...]
British Virgin Islands denies reports that it is ‘laying the groundwork’ for an independence referendum November 21, 2021 ands (BVI) have pushed back against reports that it is gearing up for a referendum to remove the Queen as head of state amid supposed corruption of the UK government.
Millions more Brits in debt as debt pile owed to HMRC balloons to £42bn November 17, 2021 Around 2.4m more taxpayers are in debt to HM Revenue and Customs (HMRC) as tax debt is at more than double its pre-pandemic levels, according to a spending watchdog. In fact, tax debt ballooned by £26bn between January 2020 and September of this year. Staffing levels at HMRC are unlikely to be enough to manage [...]
Nearly $500bn ‘lost to tax abuse’ by companies and elites in 2021 November 16, 2021 Countries have lost $483bn to tax abuse by multinationals and ultra-wealthy individuals, with the UK singled out as the world’s greatest enabler of global corporate tax abuse, according to a new report. The State of Tax Justice 2021 report found that the UK was responsible for nearly 40 per cent of the total losses this [...]
OECD ranking: The award for the country with the world’s most competitive tax system goes to… November 11, 2021 Estonia tops the rankings in a new report by the Organisation for Economic Co-operation and Development (OECD) that was published today by the Tax Foundation, a tax policy non-profit in the U.S. The ranking zooms in on the the most competitive tax regimes around the world. Estonia’s top score is driven by a 20 per [...]