Apollo circles Stanlow refinery owner Essar amid cash crunch – report April 15, 2021 Private equity giant Apollo Global Management is in talks with the owners of the struggling Stanlow oil refinery over a £400m refinancing deal, it was revealed today. Sky News reported that Apollo had had been in talks with Essar UK for several weeks over a deal that would involve it taking a significant position in [...]
An ethical dilemma: Penguin Random House made huge sales during the pandemic, but kept the furlough cash April 15, 2021 A little over twelve months ago, Rishi Sunak pumped unprecedented amounts of money into the economy to help ensure businesses could make it through the pandemic – saving as many jobs as possible. Now, as we begin to take our first tentative steps out of the third national lockdown, businesses are under no illusion that [...]
How to resolve a tax issue – talk to the experts April 14, 2021 Specialist tax advisers can ensure any tax dispute, enquiry or investigation regarding HMRC is resolved effectively and efficiently, minimising worry, time and cost. The Pannu Tax team has more than 100 years’ combined experience of helping clients resolve all manner of HMRC investigations and disputes. The team consists of former HMRC inspectors who later went [...]
Free money: Claim minimum of £62 back from the taxman for working from home April 7, 2021 Today is the day you can start claiming at least £62 back from the taxman if you have been forced to work from home this tax year because of the pandemic. HMRC has confirmed that employed workers can now claim the working from home allowance for the new tax year (2021/2022) where they have worked [...]
More than one in 10 mid-sized businesses found errors in their furlough claims April 1, 2021 Mid-sized businesses that have reviewed their initial furlough claim and found it to be incorrect have been urged to go to HMRC to address the problem and lessen any penalties faced. More than one in 10 (13%) mid-sized businesses that have reviewed their initial furlough claim found it to be incorrect, new research by Grant [...]
Controversial tax changes will pile burden onto businesses and leave contractors worse off March 31, 2021 Next Tuesday, long-delayed changes to a controversial tax rule will come into force and pile on an additional burden on companies already reeling from the effects of the pandemic. The rule, known as IR35, was originally designed to limit tax avoidance but it has caused dismay for employers and contractors alike. Before now, it has [...]
The gloves are off: Dignity chairman set for showdown with biggest shareholder amid battle for control March 30, 2021 Funeral firm Dignity is set for a showdown with its biggest shareholder next month amid a battle for control of the group. The firm, the UK’s only listed funeral provider, said it will hold a meeting on 22 April for investors to vote on a proposal by Phoenix Asset Management Partners to oust Dignity’s executive [...]
Cycle to work for a Covid-secure commute March 29, 2021 This summer, many people will be donning suits and heels again as offices open up to employees. After more than a year of working from home, the prospect of a change of environment, and time spent face-to-face with colleagues rather than on Zoom, will be refreshing and motivating. Navigating the daily commute might be a [...]
200,000 more people furloughed last month as 4.7m are still on the scheme March 25, 2021 Another 200,000 people were put on furlough for the first time last month as the government paid out nearly £4bn to cover wages. HM Revenue and Customs (HMRC) said it had paid £57.7bn in furlough cash to around 11.4m people since the pandemic began. Around 4.7m people were still on furlough by the end of [...]
Odey Asset Management loses tax battle with HMRC over executive pay March 22, 2021 Crispin Odey’s hedge fund Odey Asset Management has lost a tax battle with HMRC that could leave current and former executives on the hook for additional tax bills. The firm and 17 executives have been embroiled in litigation with HMRC over a partnership pay plan than ran between tax years 2011-12 and 2016-16. According [...]