London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
Startups are swelling the ranks of UK businesses September 26, 2016 The number of VAT registered businesses in the UK has hit an all-time high of 2.1m, up four per cent from 2m last year. The rise has been driven by the thriving national startup economy, according to accountancy group UHY Hacker Young. The number of businesses in the UK per capita has meanwhile recovered to [...]
Denial and disgrace: Here’s everything that’s happened at Sports Direct over the past year September 23, 2016 Mike Ashley has always controlled Sports Direct, but today he finally took the top job at the company he founded. It's been a rollercoaster year for Ashley. If you're wondering how we got to this point, here's everything that's happened so far: Politicians launch an investigation into working practices at Sports Direct The move comes after [...]
Brexhausted: The number of UK property transactions has plateaued as the market adjusts to new taxes and Brexit September 21, 2016 The number of property transactions fell in August year-on-year as the market adjusted to a more uncertain economic environment. There were 97,600 residential transactions in August, 6.1 per cent lower than in the same month last year, when adjusted for seasonal variations. The figures from HM Revenue and Customs (HMRC) show little change on the number [...]
The Football Pools sale: Sportech plans disposal of betting game for nearly £100m to Burlywood Capital September 13, 2016 The Football Pools, the 93-year-old sports lottery, is being sold by owners Sportech to investment fund Burlywood Capital for just shy of £100m. Burlywood Capital, a venture capital firm focused on gaming and gambling, plans to list a new company created for the Football Pools on the AIM exchange. Shares in Sportech have jumped by 9.3 [...]
Experts warn the taxman could miss out on £6.6bn of non-dom tax revenues from 2017 September 12, 2016 Experts and politicians have urged the government to reconsider proposals to reform non-dom tax status from next April. Research released today reveals that the average non-dom pays 10 times the average amount of tax paid by Britons. The worry is that a change in legislation will simply drive non-doms to register themselves abroad, reducing overall [...]
HM Revenue & Customs corporate asset seizures spike by 145 per cent September 12, 2016 The taxman has cracked down on collecting outstanding tax from UK businesses. The number of businesses whose assets were seized by HM Revenue & Customs (HMRC) in 2015/16 was 1,592, up a staggering 145 per cent on the prior year of 649 seizures. The increase reflects the fact that amount of tax overdue hiked from £15m to [...]
It’s time Chicken Licken Remainers admitted the sky hasn’t fallen in post-Brexit September 8, 2016 Before the referendum, the Remain camp did not hold back from listing the catastrophic consequences of Brexit. The banks and financial services sector would abandon London overnight, they said. Vital funding would be lost for farming, science and regeneration schemes. The British economy would immediately stall, then spiral into a crash. Eleven weeks on from [...]
Multinationals could be forced to declare country-by-country revenues and taxes thanks to an amendment tabled in parliament by a Labour MP September 6, 2016 New UK legislation could force multinational corporations to reveal the taxes they have paid in every country in which they operate, after MPs voted in favour of landmark new tax proposals this evening. The new rules would introduce a country-by-country reporting system, allowing tax information published by HM Revenue and Customs (HMRC) to include details on where a company's revenues [...]
HM Revenue & Customs (HMRC) rakes in £3bn by getting people to cough up early in investigations September 5, 2016 The taxman has bagged itself billions under recently introduced rules which allow it to force those currently under investigation to hand over the disputed tax in advance, it has been revealed today. Since the Accelerated Payment Notices (APN) rules were introduced in 2014, HM Revenue & Customs (HMRC) has issued 60,000 such notices to bring in £3bn earlier than [...]
Taxman sets up last chance saloon for those with hidden wealth offshore September 5, 2016 HM Revenue & Customs (HMRC) has today launched an online disclosure facility, aimed at those with outstanding tax liabilities from offshore wealth. The Worldwide Disclosure Facility (WDF), which was announced in the 2015 Budget, will offer no special deals to those who come forward but will be the last chance for people to come clean before a [...]