HMRC: We’re not clamping down on crypto April 29, 2021 Government tax officials say they are not gearing up to crack down on people’s cryptocurrency assets, despite widely circulated rumours this week.
HMRC set to crack down on tax evaders’ crypto assets April 28, 2021 The recent surge in interest and value in cryptocurrencies is likely to lead to increased scrutiny on its links to organised crime, according to a top accountancy firm. The organised crime ecosystem is becoming increasingly digital and now there are concerns it is being used by tax evaders. HMRC is set to demand data on [...]
Pandemic-resilient companies employ higher-paid, higher educated staff April 26, 2021 Companies that coped better through the pandemic were more likely to employ people who were paid better, had higher education and were born in Poland or India. Figures from the Office for National Statistics (ONS) found that workers in industries classed as “resilient” to the pandemic were paid £628.89 per week on average, compared with [...]
Furlough cash: Businesses repay £760m as HMRC cracks down on fraudsters April 26, 2021 A total of 3,777 businesses have repaid over £760m in furlough grants to HMRC, according to new data shared with City A.M. this afternoon. Since the introduction of the furlough scheme in March 2020, £53.8bn has been claimed by employers as it protected over 11m employees, said accountancy firm UHY Hacker Young, who compiled the [...]
John McAfee on life in prison… and the price of Dogecoin April 26, 2021 Speaking from behind bars in a Spanish jail, computer legend John McAfee says he’s stunned by the price of Dogecoin.
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 [...]