Emma Thompson’s husband refuses to pay tax until HSBC staff are put in prison February 25, 2015 Oscar-winning, actress Emma Thompson, will refuse to pay any tax until those involved in the HSBC tax evasion scandal are put in prison. Thompson's husband and fellow actor Greg Wise told the Evening Standard that he and his wife would stop giving money to HMRC until "everyone pays tax". Wise trumpeted his commitment to socialism [...]
HSBC’s Stuart Gulliver set to face MPs on tax evasion February 24, 2015 HSBC chief Stuart Gulliver will face MPs today to give evidence on claims its Swiss private banking arm helped clients evade taxes. Initially it was only the giant bank’s chairman Douglas Flint who had been summoned to the Treasury Select Committee for a 45-minute session. But now both bosses are attending parliament, and they will [...]
Property sales fall in January February 24, 2015 UK HOME sales fell in January for the fourth month in a row, to reach their lowest level since October 2013, according to new data. The latest seasonally adjusted figures out yesterday by HM Revenue and Customs (HMRC) shows there were 97,320 transactions last month, down six per cent compared with a year ago. Transactions [...]
HSBC chief holds Swiss bank account but bank denies wrongdoing February 23, 2015 HSBC has acknowledged its chief executive, Stuart Gulliver, uses a Swiss bank account to hold his bonuses, following revelations published in the Guardian. Gulliver was shown to have sheltered money in a Swiss account through Panamanian company Worcester Equities Inc. But HSBC pointed out to the BBC that its chief executive has paid [...]
Danny Alexander threat to firms that facilitate tax evasion February 23, 2015 Danny Alexander has proposed a new law penalising companies who assist with tax evasion. The chief secretary to the Treasury said in an interview: “We should create a new offence of corporate failure to avoid preventing an economic crime and also that organisations who facilitate or encourage evasion should face the same penalty as the [...]
Nutmeg ready to shake-up UK pension market February 22, 2015 Online wealth management group Nutmeg is today launching its first personal pension in an attempt to disrupt the UK pensions sector. Nutmeg co-founder and chief executive Nick Hungerford says current offerings on the market are “complicated, underfunded and in need of some massive changes.” “We know there’s a massive deficit in pensions savings; company pensions [...]
London toasts boom in craft beer start-ups February 22, 2015 BUSINESS is booming for London’s micro-breweries, with 2014 emerging as yet another record year for start-ups entering the capital’s thriving artisan beer scene. Last year there were 30 applications to HMRC to launch breweries in London, a small increase of one on 2013’s record year and almost double that of two years earlier. London is [...]
HSBC under pressure to lower bonuses following tax dodging inquiry February 21, 2015 Top executives at HSBC are being encouraged to waive their bonuses for the year, following allegations the bank abetted tax dodging clients. Shareholders, politicians and large sections of the media will place the bank’s bonuses under intense scrutiny when its annual reports are released on Monday. According to the Financial Times, shareholders [...]
MPs are dangerously blurring the line between tax avoidance and evasion February 19, 2015 Never before has tax avoidance – legally arranging your affairs to lower your tax liability, as distinct from the illegal practice of tax evasion – been used as a political weapon in such a high profile way. In the last week, we’ve had it all: smears, claims and counter-claims, and Ed Balls, the man who [...]
Levy on tobacco industry could cost state millions February 16, 2015 A TAX on tobacco manufacturers’ profits could result in significant losses of income for the government, a consultancy has said. “The implementation of a windfall tax is estimated to produce a net loss in tax receipts,” the analysis from Oxford Economics said yesterday. If the tax is implemented at £100m, it is predicted it will lead [...]