Fall in super-rich ‘non-doms’ sees tax receipts fall August 8, 2019 The number of super-wealthy UK residents who pay no tax on foreign earnings in Britain has fallen to a record low, causing tax receipts to suffer, HM Revenue and Customs (HMRC) revealed today. Read more: Freeports: Government plans tax-free hubs There were 78,000 non-domiciled taxpayers in Britain last year, down from 98,500 the year earlier, [...]
London Deutsche Bank trader charged in Germany for ‘VAT fraud’ August 7, 2019 A trader who worked at Deutsche Bank in London has been charged by German prosecutors for his suspected role in VAT fraud. A 48-year-old Austrian is “accused of having participated as a member of a gang in a VAT carousel” connected to €145m of evaded tax, a statement from the Frankfurt Attorney General’s office said. [...]
Mike Ashley-backed Goals Soccer Centres to delist from stock market after ‘improper’ accounting August 2, 2019 Goals Soccer Centres said today it will delist from the stock market after it discovered “improper behaviour” going back to 2010 that means it will be unable to file its accounts. The move will be a blow to Mike Ashley’s Sports Direct which owns an 18 per cent stake in the company. Goals said today [...]
Credit Suisse back on track as second quarter profit soars July 31, 2019 Credit Suisse today said it is on track to meet its full-year targets after posting its strongest quarterly results in four years. The bank reported pre-tax profit of 1.3bn Swiss francs (£1.1bn) in the second quarter, up 24 per cent on the previous year. Net profit attributed to shareholders soared 45 per cent to 937m [...]
UK house sales plummet in June, held back by Brexit ‘ball and chain’ July 23, 2019 House sales crashed 16.5 per cent in June, as the property market took a “wait-and-see” attitude to transactions amid Brexit uncertainty. Monthly HM Revenue and Customs (HMRC) figures showed British residential property sales fell to 84,490, more than one-sixth down on the same period last year. Read more: London house prices suffer worst plunge in [...]
MPs call for audit watchdog to reform after endorsing new chair Simon Dingemans July 22, 2019 An influential committee of MPs has called for radical reforms from Britain’s accountancy watchdog after endorsing the appointment of its proposed new chair. Parliament’s Business, Energy and Industrial Strategy Committee (Beis) has given its approval for Simon Dingemans to take over as chair of the Financial Reporting Council (FRC), but has urged the group to [...]
Number of employees enjoying job perks falls to 12-year low July 22, 2019 Corporate cost cutting has pushed the number of people receiving major job perks to a 12-year low, according to research. The number of employees who receive taxable job perks such as company cars, private medical insurance and staff accommodation fell 3.6m last year. Read more: Google UK employees earned £226,000 on average last year The [...]
Judge dismisses Credit Suisse claims in £239m banking bonus row July 19, 2019 A UK court has dismissed an attempt from Credit Suisse to recoup £239m that it paid as a one-off tax on bonuses, closing the curtains on a decade-long tussle that was sparked by the financial crisis. Read more: Dixons Carphone executives delay bonuses The Swiss multinational bank has lost a legal battle with HMRC over [...]
Uber rival Kapten partners with Citymapper on London travel July 17, 2019 Citymapper has teamed up with rival Kapten to offer a £10 credit to some of its users. Users of Citymappers’ pass, which was launched in March, will receive a free £10 weekly credit for rides via Kapten, the only private hire firm to have teamed up with the transport app. Read more: French ride-hailing app [...]
Massive airport email scam blocked by UK spooks July 16, 2019 An attempt to scam hundreds of thousands of people using a spoof UK airport email address was one of a string of major cyberattacks prevented by spooks last year. Criminals sent more than 200,000 emails impersonating an airport from a fake gov.uk address last August in a bid to defraud people, but the messages were [...]