The taxman should go easy on people who take advantage of pension freedoms | City A.M. August 1, 2018 Britain’s demographic timebomb threatens to send the national debt soaring in coming decades, as an ageing population takes its toll on our fiscal health. Even now, with government under pressure to pledge billions of extra pounds for the NHS, the Treasury is in desperate need of finding a few extra bucks. Thus there was some [...]
Brexit white paper revealed: What it means for financial services, customs and immigration July 12, 2018 The government is no longer seeking mutual recognition as the basis for the City’s future trading relationship, its Brexit blueprint revealed this morning. Despite chancellor Philip Hammond having made an impassioned speech defending mutual recognition and rejecting equivalence as a land grab in which the EU could have final say on access just three weeks [...]
Pensioners in the UK shelling out over £24bn in income tax July 9, 2018 The amount pensioners in the UK pay in income tax has ballooned to over £24bn, figures out today have shown. Insurer Royal London obtained the information through freedom of information (FOI) requests to find out how much people over the state pension age were paying to the tax man in different parts of the [...]
HMRC accused of breaching data protection laws for taking ‘voice IDs’ of 5m taxpayers June 25, 2018 HMRC has been accused of breaching data protection laws by taking the "voice IDs" of over 5m people without their consent. When users call HMRC, they are asked to repeat the phrase "my voice is my password" on an automated line as a security precaution before they can access services. But data watchdog Big Brother [...]
Leaked recording of Boris Johnson: Minister admits Brexit red lines may be crossed, slams Remainers in the Treasury and rubbishes Irish border issue June 8, 2018 Boris Johnson has ridiculed fears over the border in Ireland, warned that a final Brexit deal will violate Leavers’ red lines and acknowledged “there may be a meltdown” during negotiations during an explosive private conversation earlier this week. Speaking to a select group of party activists during a private dinner with pressure group Conservative Way [...]
Brexit latest: No deal as expensive as max fac to business, claims HMRC boss Jon Thompson June 5, 2018 A Brexit no deal would cost businesses around £20bn a year, HMRC boss Jon Thompson has claimed, as he doubled down on the estimates that max fac would do likewise. Speaking to the Treasury Select Committee this morning, Thompson told MPs he was confident in his statements from a fortnight ago that suggested the max [...]
Exclusive: Cabinet ministers poised to back max fac customs option as Irish border solution breaks Brexit deadlock June 1, 2018 Ministers charged with determining the UK’s position on post-Brexit customs are poised to argue for a modified version of the “max fac” option, after making a breakthrough on the Irish border issue, City A.M. understands. For nearly a month, Cabinet ministers have been analysing the two options – the new customs partnership, or NCP, initially [...]
Brexit breakthrough: Cabinet ministers poised to back modified max fac customs option as Irish border solution breaks Brexit deadlock June 1, 2018 Ministers charged with determining the UK’s position on post-Brexit customs are poised to argue for a modified version of the “max fac” option, after making a breakthrough on the Irish border issue, City A.M. understands. For nearly a month, Cabinet ministers have been analysing the two options – the new customs partnership, or NCP, initially [...]
Exclusive: Cabinet ministers poised to back max fac customs option as Irish border solution breaks Brexit deadlock May 31, 2018 Ministers charged with determining the UK’s position on post-Brexit customs are poised to argue for a modified version of the “max fac” option, after making a breakthrough on the Irish border issue, City A.M. understands. For nearly a month, Cabinet ministers have been analysing the two options – the new customs partnership, or NCP, initially [...]
Manufacturers’ association says max fac customs proposal is a ‘non-starter’ to the UK’s Brexit problems May 29, 2018 The government should not waste any more time or money exploring the so-called “maximum facilitation” option for future UK and EU customs, the manufacturers’ association has said. The max fac proposal – which would use technology to allow so-called “trusted traders” to cross the Northern Ireland and other EU borders freely after Brexit – has [...]