Amazon continues jobs spree with 100,000 additional roles September 14, 2020 Amazon has said it is intending to recruit another 100,000 new jobs in North America this year, marking its fourth hiring effort in 2020 alone. The e-commerce giant has announced plans to hire a total of 208,000 new employees this year, after revealing 33,000 jobs for headquarters roles earlier this month and 175,000 new operations [...]
You’re required: Alan Sugar urges public to get back to work September 11, 2020 Business tycoon Lord Alan Sugar today urged Brits to “put on a suit, put on a dress and get back to work” amid rising calls to kickstart the faltering economy. Speaking to LBC radio, Sugar said people’s resilience meant “they get back, they recover, they get over it”. “If you do the right things which [...]
Amazon pays just £293m in UK corporation tax despite revenue bounce September 9, 2020 Amazon paid out less than £300m in tax to HMRC last year, despite raking in an extra £3bn in revenue. The e-commerce giant said it paid £293m in direct tax — meaning contributions paid directly to the Treasury through levies such as corporation tax and business rates — in 2019, rising by more than a [...]
Furlough scheme: UK looking at 27,000 potential fraud cases September 8, 2020 The UK’s tax authority is looking into 27,000 potential cases of fraud relating to the government’s furlough scheme. HM Revenue and Customs’ (HMRC) probes have already led to an arrest of one person who has been suspected of fraud and there are a “number of active investigations”, according to the Prime Minister’s spokesman. HMRC’s top [...]
Worried about furlough fraud? Now is the time to check your claims September 7, 2020 When Covid-19 struck, HM Revenue and Customs (HMRC) introduced the furlough scheme at remarkable speed to help people and businesses through the pandemic. But when claims are made in a rush – and under huge pressure – mistakes are inevitable. Also, sadly, when a recession hits the likelihood of fraud tends to increase. That is [...]
Finablr to miss accounts deadline amid fraud claims August 25, 2020 Troubled payments business Finablr which is entangled in a fraud probe today said it would miss its deadline this week to publish its financial accounts. The Travelex-owner said on 23 June that it had changed its accounting reference date to 28 February, resulting in a deadline of 28 August to publish its financial statements. Finablr [...]
Lending through key UK coronavirus schemes tops £52bn August 18, 2020 Bank lending to struggling businesses through the government-backed coronavirus lending programmes has topped £52bn, figures today showed. The bounce back loan scheme (BBLS), under which the government backs 100 per cent of loans up to £50,000, has seen by far the most use. Treasury figures showed £35.5bn had been lent out through the programme by [...]
Purplebricks fined £260,000 for breach of money-laundering rules August 18, 2020 Online estate agency Purplebricks has been fined more than £260,000 by HM Revenue & Customs for violating money-laundering rules. Under UK regulations implemented in 2017, estate agencies are required to ensure customers are not using their business to launder money. The legislation says estate agencies are responsible for carrying out financial checks on their clients [...]
Finablr founder BR Shetty resigns amid HMRC probe August 17, 2020 The founder of Finablr has resigned as co-chair of the scandal-hit payments firm as UK tax authorities move to shut down parts of the business. Indian mogul BR Shetty has stepped down from the board with immediate effect, the company announced today. The London-listed firm has been on the rocks since the discovery of more [...]
Trade groups threaten legal action over post-Brexit customs system August 16, 2020 The government’s new post-Brexit customs system may face a legal challenge, after trade bodies have complained it will distort competition. The Sunday Telegraph reports that trade bodies clashed with HM Revenue and Customs (HMRC) at a meeting of its customs experts panel. Trade bodies expressed their concern that the new Trader Support Service, which will [...]