Santander and Barclays face lawsuits over film financing schemes April 8, 2019 Santander and Barclays are facing lawsuits from investors in failed film financing schemes. Santander could be sued for the role of legacy bank Alliance & Leicester’s role in part-funding the Imagine film financing scheme while Barclays is beng targeted over a similar scheme known as Timeless Releasing. Read more: HSBC sued for £150m in relation [...]
No-deal planning programme extended due to later Brexit date April 8, 2019 The government has extended the deadline for companies to apply for an £8m scheme to help businesses prepare for Brexit, it said today. The programme was instituted in October 2018 to help businesses prepare for a no-deal scenario by training traders on how to meet customs requirements and helping fund IT costs, among other measures, [...]
MPs slam BBC over ‘chaotic’ handling of freelance presenter tax system April 5, 2019 MPs have launched a scathing attack on the BBC over a “muddled and chaotic” approach to freelance workers that left hundreds of presenters liable to tax investigations. The Public Accounts Committee (PAC) last year launched an inquiry after it emerged the complex employment status of the broadcaster’s freelancers could mean tax laws were being broken. [...]
Amber Rudd gives nod for pensions dashboard project to ‘transform’ retirement planning April 4, 2019 Amber Rudd has given the green light for the long-awaited pensions dashboard project to go ahead, with the first industry models to come out later this year. Under the scheme, workers will be able to see information about their various nest eggs combined on a so-called dashboard, accessible on smartphones, tablets and computers. The plan [...]
Google UK employees earned £226,000 on average last year April 3, 2019 Staff at Google’s UK offices earned an average of £226,000 last year after the firm paid out more than £340m through its share scheme. The tech firm paid £829m to its employees in the year to the end of June, up from £657m the previous year. The company, which currently has three main offices in [...]
Cash Isa vs stock market Isa: which has returned the most? April 2, 2019 Saving money into a stocks and shares Isa over the last 19 years would have returned two-thirds more than a cash Isa, according to calculations by Schroders. The stocks and shares Isa carries more risk and is subject to greater volatility than the cash Isa, which also provides far greater protection for your investment. You [...]
London-listed Goals Soccer Centre suspends trading due to historical accounting errors March 27, 2019 London-listed football pitch operator Goals Soccer Centres has suspended trading in its shares following a “substantial misdeclaration of VAT” totalling approximately £12m. In a statement released this morning, the company – which counts Sports Direct as its biggest shareholders – said that “historical accounting errors” meant it could not be clear on its exact financial position, [...]
HMRC doubles number of investigations into apprenticeship levy underpayments March 25, 2019 The number of investigations by tax authorities into underpayment of the apprenticeship levy has more than doubled in a year. HMRC launched 84 investigations last year collecting an additional £6.2m, according to research by accountancy group UHY Hacker Young. Read more: Apprenticeship levels up on last year but still hampered by 2017 levy There is concern that [...]
House transactions edge up despite Brexit uncertainty denting Spring bounce March 21, 2019 Signs of growing activity in the UK housing market have emerged this morning, with new figures signalling a potential change in tune among buyers who have so far been holding off on deals in the run-up to Brexit. A modest rise in property transactions last month has industry experts noting that some buyers are choosing not [...]
Emojis are a better metric for national wellbeing than traditional data methods March 20, 2019 HMRC’s programme to make tax digital continues to roll out. Anyone with a small business will know about the imminent deadline of 1 April, when VAT returns become digital. Quick to seize an opportunity, several companies have developed software to ease the task. The digitisation of tax raises the wider issue of whether technology will [...]