Google UK tax row: Here’s what you need to know ahead of tomorrow’s Public Accounts Committee hearing on corporate tax deals February 10, 2016 At 10am tomorrow, representatives from Google and HM Revenue & Customs (HMRC) will face the unenviable task of talking tax deals with the Public Accounts Committee (PAC). Before it kicks off, here's our quick guide of what you need to know: HMRC I understand, but why are Google being brought in on this? The PAC undoubtedly [...]
HM Revenue & Customs (HMRC) has brought in over £2bn from tax avoidance scheme users since a rule change in 2014 allowed it to collect money upfront February 8, 2016 HM Revenue & Customs (HMRC) has collected over £2bn from tax avoidance scheme users since 2014, thanks to a rule change that makes it easier to collect disputed amounts upfront. The UK's tax authority today revealed that its use of accelerated payment notices, which were introduced under the Finance Act 2014, had allowed it to collect cash without [...]
Women more likely than men to put their entire Isa savings in cash February 6, 2016 Are women being too cautious with their savings? A new report has found that men are 20 per cent more likely than women to use a stocks and shares Isa, as women prefer to put their entire savings into cash. More than four out of five, 82 per cent, of women put all their Isa [...]
Tory MP Jacob Rees-Mogg discusses David Cameron and the proposed EU reforms in an interview with City A.M. February 5, 2016 Thin gruel is hardly an appealing image, yet that’s how Tory MP Jacob Rees-Mogg first described David Cameron’s proposed EU reforms. As the Prime Minister outlined the details of his EU deal on Wednesday, the North East Somerset MP suggested that the gruel had been watered down yet further. I spoke to this colourful, popular Old Etonian MP [...]
Google share price soars in after hours trading as parent company Alphabet’s revenue rises February 1, 2016 Google jumped as much as 8.4 per cent to $813 per share in after hours trading, putting it on course to oust Apple as the world's most valuable company by market capitalisation when regular trading resumes tomorrow. Google's new parent company Alphabet reported annual revenue rose 18 per cent to $21.33bn (£14.8bn) in the three months ended December 31. [...]
Cherie Blair’s firm Omnia leads legal battle against government’s buy-to-let tax February 1, 2016 Cherie Blair is set to challenge the government in court over controversial tax relief changes for buy-to-let landlords, arguing that it breaches human rights. Omnia Strategy, the law firm founded by the wife of former Labour Prime Minister Cherie Blair, has sent a letter to HM Revenue & Customs (HMRC) on behalf of landlords Steve [...]
UK pensions: Parliament to debate transitional state pension arrangements for women born in the 1950s tomorrow after online Waspi petition receives more than 100,000 signatures January 31, 2016 MPs will tomorrow debate the fairness of state pension arrangements for women born in the 1950s, after an online petition received more than 100,000 signatures. The petition, entitled "Make fair transitional state pension arrangements for 1950’s women", was started on behalf of the campaign group Women Against State Pension Inequality (WASPI) and points out that some women [...]
Late tax return? You have the right to appeal a penalty if you have a reasonable excuse, says industry body, as the deadline for self-assessment tax return draws nearer January 31, 2016 With just one hour to go until the deadline for self-assessment tax returns, an industry body has urged those who have a reasonable excuse for not hitting submit by midnight to appeal any late filing penalty they receive. The Low Incomes Tax Reform Group (LITRG) of the Chartered Institute of Taxation (CIOT) has today warned [...]
Google tax deal not a “glorious moment” business secretary Sajid Javid admits January 31, 2016 Google's deal to pay £130m in corporation tax was not a "glorious moment", business secretary Sajid Javid has admitted, but has insisted it will change behaviour. Google also defended the payment, saying it doesn't have a so-called sweetheart deal with the government or HMRC and pays a rate of 20 per cent in the UK and globally. The pay deal, [...]
Former Conservative chancellor Lord Lawson calls for corporate tax reform in the wake of Google row January 30, 2016 A former Conservative chancellor has urged the government to ditch corporation tax which he says has "had its day", weighing in on an increasingly heated row over tech giant Google's arrangement in the UK. Lord Lawson, who was part of the Thatcher government from 1983 to 1989, said that the government should instead tax a company's sales. "It is [...]