Bookie Ladbrokes loses £54m gamble on tax avoidance scheme, as tribunal finds in favour of HMRC December 2, 2015 HM Revenue and Customs (HMRC) announced today that it had won a tax avoidance case worth £54m against Ladbrokes. The ruling at the first-tier tribunal prevents the bookmakers from reclaiming £54m in tax, and the tax authority has said it has another three similar cases in the pipeline worth £112m. “Avoidance just doesn’t pay – we [...]
Gender pay gap: Proportion of female high earners remains stubbornly unchanged at 27 per cent November 30, 2015 Just over a quarter of the UK’s high earners are women, and new research shows this proportion hasn’t budged in years, despite initiatives to shrink the pay gap between men and women. In absolute numbers, there are more women earning a high salary, as the number of high earners among both sexes has gone up [...]
The proportion of female high earners has stayed the same at just over a quarter for the last four years November 30, 2015 The proportion of female high earners has not increased over the last four years. Research released today by law firm Clyde & Co discovered that, using data obtained from HM Revenue and Customs (HMRC), the proportion of women who pay tax at a higher rate had remained unchanged at 27 per cent over the time [...]
New initiative rakes in £300m from stamp duty avoidance clampdown November 30, 2015 HMRC has raked in over £300m in one year through clamping down on stamp duty land tax (SDLT), according to new research released this morning. The government’s new Counter Avoidance Directorate (CAD) collected £301.8m from the tax applied to property and land transactions in the 12 months to March, data from law firm Collyer Bristow [...]
Four partners at KPMG Belfast office arrested and put on leave as HMRC starts investigation November 26, 2015 Four partners at the Belfast offices of KPMG have been arrested after HM Revenue and Customs (HMRC) started an investigation. Representatives from the tax authority visited the offices of the big four firm yesterday. It is understood the partners involved are Jon D'Arcy, Eamonn Donaghy, Arthur O'Brien and Paul Hollway. Donaghy is the head of KPMG's [...]
Autumn Statement 2015: Changes to bring in £5bn a year from tax avoidance November 25, 2015 The government is aiming to bring in £5bn more a year through tackling tax avoidance by 2019-20. In the Autumn Statement chancellor George Osborne confirmed £800m more would be spent on tackling evasion and non-compliance through to 2020. The government is also set to build a digital tax system to help fight avoidance and to [...]
Autumn Statement 2015: Here’s how much was cut from departmental budgets November 25, 2015 Chancellor George Osborne has unveiled the full extent of his cuts to departmental budgets, with some protected and some undergoing extensive cuts. Among other announcements, Osborne detailed how the police will suffer no cuts and while there will be £22bn in efficiency savings across the NHS, there will be £10bn a year increase in real terms [...]
Autumn Statement 2015: George Osborne’s speech transcript in full including stamp duty, business rates and corporation tax announcements November 25, 2015 Mr Speaker, this Spending Review delivers on the commitment we made to the British people that we would put security first. To protect our economic security, by taking the difficult decisions to live within our means and bring down our debt. To protect our national security, by defending our country’s interests abroad and keeping our [...]
Autumn Statement 2015: George Osborne promises £450m extra for Government Digital Services to improve public services online November 25, 2015 George Osborne has promised an additional £450m for spending on government digital services to make it easier for the public to do things online. The additional funding comes amid wider cuts to the core spending of the Cabinet Office of 25 per cent. Digitising services, such as filing tax returns, has already saved as much as £1.7bn [...]
Autumn Statement 2015: HMRC corporate tax overreach risks Britain’s business-friendly reputation unless George Osborne acts November 24, 2015 Five years may not be very long in many contexts, but in that time the tax world has changed significantly. The coalition’s Corporate Tax Roadmap, published in November 2010, declared that it wanted to create “the most competitive corporate tax regime in the G20”. In doing so, it highlighted four key ways in which the [...]