Downing Street rows back on support for £130m Google corporation tax deal January 25, 2016 Downing Street has distanced itself from Treasury ministers' reactions to the news that Google had agreed to had over £130m to HM Revenue & Customs (HMRC) in unpaid corporation tax. The Prime Minister's official spokeswoman said the deal was a "step forward" but declined to endorse chancellor George Osborne's comments over the weekend that the tax [...]
Tax code needs radical simplification in light of Google’s £130m deal with HMRC, says TaxPayers’ Alliance January 25, 2016 Following the news that Google will pay £130m to HM Revenue & Customs (HMRC) in unpaid corporation tax, the TaxPayers' Alliance (TPA) has called for the "radical simplification" of the tax code. "Yet again we have a case that demonstrates why we need radical simplification of our hugely complex tax system," said Jonathan Isaby, chief executive [...]
Tax experts pour cold water on heated debate over Google’s £130m corporation tax agreement January 25, 2016 Tax experts have poured cold water on a heated debate over Google’s agreement to hand over £130m to HM Revenue & Customs (HMRC) in unpaid corporation tax, dismissing suggestions that the deal was unfair. Tighter rules surrounding corporation tax will result in a string of companies striking deals with HMRC, accountants say. “There will be lots of businesses that [...]
With just one week left until self-assessment tax return deadline day, people confess they’d rather undergo a trip to the dentist’s chair than fill out their tax forms January 24, 2016 Unbelievably, there is something people dread more than a trip to the dentist's office, and you don't even get a sticker and a lollipop for good behaviour afterwards. According to a survey by Which?, 38 per cent of people loathe completing their tax return more than they do going to the dentist. Other tasks people would [...]
Google agrees to pay £130m in back taxes in deal with HMRC January 23, 2016 Google has agreed a deal with HMRC in which it will pay £130m in back taxes after an "open audit" of its accounts by the UK tax authorities. The £130m covers corporation tax owed since 2005, and senior figures at Google have said it would follow rules which will result in it paying more tax [...]
Respite and financial boost for debt-ridden Bolton in FA Cup third round replay against fifth-tier Eastleigh January 19, 2016 ENGLISH football’s crisis club Bolton were granted a modicum of respite and a much-needed financial boost by a 3-2 FA Cup third-round replay victory over fifth-tier Eastleigh. Wanderers are rock bottom of the Championship and saddled with £172.9m worth of debt, while on Monday they avoided a High Court winding up order after their case [...]
UK pensions: Should you switch from a gold-plated defined benefit plan into a DC scheme? There’s a growing trend as retirees hope to take more cash out of their pots January 19, 2016 Pension savers now have more options at retirement – whether that’s taking a lump sum, buying an annuity, or dipping into it regularly. The flexibility now offered to people on regular defined contribution schemes seems attractive to people on “gold plated” defined benefit pensions, many of whom have considered switching from their secure scheme to the [...]
UK pensions: State pensions statements to go digital potentially as early as April, as service currently in public beta testing, says pensions minister Baroness Ros Altmann January 18, 2016 Pensions minister Baroness Ros Altmann has today said that statements for the state pension could potentially be digital from April onwards. Speaking in front of the Work and Pensions Select Committee regarding its inquiry into understanding the new state pension, Altmann revealed that the new digital system was currently in public beta testing and the Department for Work [...]
Accounting watchdog meeting to decide on KPMG investigation into the auditor’s role over HBOS collapse January 18, 2016 The accountancy watchdog could decide as soon as tomorrow whether to launch a formal investigation into the role of big four accountancy giant KPMG in the collapse of HBOS in 2008. The Financial Reporting Council’s (FRC) conduct committee is set to meet tomorrow to make its decision, Sky News has reported. The conduct committee will [...]
Tax return deadline day looms, and HMRC reveals the 10 worst excuses it has received for filing late which did not avoid that £100 late filing penalty January 15, 2016 Tax return deadline day is looming and, while it may seem tempting to concoct an elaborate excuse rather than knuckle down with your paperwork before 31 January, it’s highly recommended that you don’t. Not only could a late return land you with a £100 fine, you could also find your not-so-wise words taking a place in [...]