Uber under investigation by US and foreign tax authorities June 4, 2019 Uber has revealed it is under investigation by a string of tax authorities in the US and abroad. The ride-hailing firm said in a filing today that the Internal Revenue Service (IRS) has launched a probe into its taxes for 2013 and 2014. Read more: Uber loses $1bn in first quarterly results since stock market [...]
HMRC increasingly targeting individual executives in tax crackdown June 3, 2019 HM Revenue and Customs (HMRC) is increasingly targeting C-suite executives personally as it looks to hold businesses to account. The number of chief financial officers and other senior finance directors fined has increased 22 per cent in the year to 31 March to hit 152. In 2017-18 HMRC levied 125 fines against individuals while in 2012-13 – [...]
HMRC cracks down on number spoofing scams in fight against fraud June 1, 2019 HM Revenue and Customs (HMRC) has put a block in place on numbers that were using spoofing tactics to impersonate genuine tax officials. Fraudsters had been using so-called number spoofing so that when calling people it would appear as HMRC’s actual phone numbers on their display. Read more: City of London Police apologises after diamond [...]
Uber partners with insurtech startup to offer digital insurance May 30, 2019 Ride sharing giant Uber has struck a deal with a US insurtech startup to offer digital insurance for its drivers. Inshur uses information about average trips, locations and driver ratings in near real-time to calculate the price of the driver’s policy. Read more: Uber facing £1bn VAT tax bill after HMRC opens investigation The startup [...]
Coping with our confusing and expensive childcare system May 29, 2019 Childcare is notoriously expensive in the UK. For UK parents with two children, around 46 per cent of household income goes towards childcare – the highest of all OECD countries – while prices have risen three per cent in the past year, according to the UK’s Childcare Survey 2019. “With the cost of full-time childcare [...]
Goals Soccer Centres warns of weaker results amid accountancy blunder May 28, 2019 Five-a-side football venue operator Goals has warned that its 2018 and 2019 performances will likely be significantly weaker than previously expected in the wake of a major accountancy error. The embattled firm, which has been suspending its shares since March, said this morning it is forecasting both its 2018 and 2019 financial results to be "materially below expectations and [...]
Uber launches electric bike-sharing scheme Jump in London May 24, 2019 Uber today launched an electric bike-sharing service in London in the firm's latest attempt to expand its transport offering beyond cars. The ride-hailing app has rolled out the a pilot scheme of 350 bikes in Islington, with plans to expand into other London boroughs in the coming months. Read more: Uber facing £1bn VAT tax [...]
Property transactions dip in April as political uncertainty weighs on buyers May 21, 2019 Property transactions slipped slightly in April as political uncertainty hampered a traditional spring surge. Read more: How London house prices in every borough have performed in 2019 Residential property transactions fell 0.3 per cent month-on-month in April, but were up 0.8 per cent on last year, according to the latest figures from HMRC. The dip [...]
Taxman opens investigation into claims Uber owes £1bn in unpaid VAT May 19, 2019 HMRC has opened an investigation into Uber over allegations it owes around £1bn in unpaid VAT. Uber claims it is exempt from paying VAT because its drivers are self-employed and their earnings fall below the £85,000 threshold. However, HMRC is now looking into whether Uber is a transportation company and should therefore be liable to pay [...]
Logistics firm Wincanton raises profits despite fall in revenue May 16, 2019 Small cap logistics firm Wincanton boosted profits in its latest financial year despite slipping revenues, sending shares up 1.6 per cent to 260p in early trading. Read more: Wincanton cashes in on Brexit uncertainty The figures Profit before tax increased 6.3 per cent year on year to £49.3m in the 12 months to the end [...]