Sportech to appeal against £93m VAT charge October 13, 2014 BETTING operator Sportech has lodged an application to appeal against HM Revenue & Customs’ (HMRC) case that forced the group to pay back £93m in tax over its Spot the Ball game. Last month, it was ruled a game of skill not chance and therefore subject to VAT.
Will I get a tax rebate or do I have to pay more back? HMRC statement error affects thousands October 9, 2014 HM Revenue and Customs (HMRC) is sending out second tax statements to thousands of people, asking them to pay back their tax rebates because of initial miscalculations. Earlier this year, millions of people received notifications that they had paid the wrong about in tax for the year ending in April. Reasons given by [...]
UK house prices grow 9.6 per cent in a year, but growth is slowing. Here’s why October 8, 2014 More data showing the housing market is slowing has emerged today. Halifax, which bases its calculations on its own mortgage lending, calculates prices have risen 9.6 per cent over the year to September (down from 9.7 per cent for the year to August and 10.2 per cent for the 12 months to July) and 2.7 [...]
London’s thriving tech sector is under threat – from bonkers EU VAT reforms October 6, 2014 LONDON’S technology sector is thriving, with the capital’s tech firms attracting a record $1bn in venture capital investment in the first nine months of 2014. And as the general election approaches, there’s been no shortage of ideas for policy changes that could accelerate London’s tech growth further. Take the recent Coadec manifesto, which proposed a [...]
Grant Thornton boasts its fifth strong year but CEO Scott Barnes isn’t bragging October 5, 2014 Grant Thornton’s chief executive Scott Barnes is not a man given to extravagant outbursts. Today, the financial adviser’s yearly report boasts of “a fifth successive year of strong results”, with revenue breaking through the £500m mark it had targeted for next year. As Barnes took over as boss six years ago, that consecutive [...]
Why the abolition of the pensions death tax is great news for savers September 29, 2014 George Osborne had more good news for retirees and savers yesterday, as he brought forward the announcement that he is abolishing the 55 per cent tax charge applied to some people’s pensions on their death – the so-called pensions death tax. Coming into force in April 2015, and on top of previous pensions liberalisation, the [...]
Margaret Hodge hops off HMRC tax roller coaster after bump with motorbike September 17, 2014 Labour MP Margaret Hodge failed to appear at the launch of a book by BDO partner Daniel Dover last night, pulling out as guest speaker at the last minute. Hosts BDO were given little explanation as to why the chair of the Public Accounts Committee wouldn’t be turning up to talk tax, undeniably her favourite [...]
Sportech share price slumps as HMRC seeks £93m in back taxes after Spot the Ball game debacle September 16, 2014 Sportech is told to give HMRC £93m in back taxes after its Spot the Ball game was ruled as a game of skill not chance. International gaming group Sportech was told yesterday that it must pay back £93m in tax after HM Revenue & Customs (HMRC) won its appeal against a VAT overpayment. The Liverpool-based [...]
City Moves for 12 September 2014 | Who’s switching jobs September 11, 2014 Lend Lease The property and infrastructure group has appointed Paul King as managing director of sustainability for its European region. He will join in February 2015 from the UK Green Building Council, where he is chief executive. Zeus Capital Adam Pollock has been appointed head of corporate broking at the investment bank. He joins from [...]
Taxman’s revolution: HMRC is setting the pace in digital government reform September 8, 2014 JUST like innovative private sector organisations, the government, as a provider of services to the nation’s citizens, needs to reflect and respond to the changing demands of those it serves. This is especially relevant to Her Majesty’s Revenue and Customs (HMRC), which must provide effective, efficient and impartial services to its 41m individual and 5m [...]