Wasps chief remains cool on tax threat April 22, 2010 WASPS owner Steve Hayes has dismissed suggestions that the club are facing a winding-up order over an unpaid tax bill of over £1m. Reports claimed that HM Revenue and Customs had issued a warning to the Guinness Premiership club earlier this month with the threat of a winding-up petition looming over them. The HMRC refused [...]
TRAVEL CHAOS April 22, 2010 Q. I am a small business owner and one of my employees is caught up in the flight chaos. What are my rights as an employer? A. The advice from the Forum of Private Business is to be flexible with stranded staff but to know where to draw the line on unpaid leave. “The key [...]
Repatriation costs deemed a benefit in kind April 21, 2010 LAWYERS warned yesterday that tax bills for both employees and employers associated with the disruptions caused by the Icelandic volcano are to sky rocket as the HM Revenue & Customs (HMRC) takes a hardline on repatriation costs. Commercial law firm EMW Picton Howell said yesterday that the HMRC will demand tax payments on any expenses [...]
CITY MOVES | WHO’S SWITCHING JOBS March 31, 2010 RBC Wealth Management The wealth manager, part of the Royal Bank of Canada, has appointed Sarah Macdonald as a director, focusing on UK entrepreneurial clients. Macdonald has worked for over a decade in the financial services industry at both Barclays Wealth and Morgan Stanley. She specialises in advising high net worth clients on asset management [...]
Tax evaders face harsh fines March 24, 2010 THE government outlined intentions to raise £500m in tax revenues yesterday by imposing a heavy penalty on evasion, at the same time announcing it was to sign information exchange agreements with a trio of countries. Chancellor Alistair Darling detailed plans of implementing a 200 per cent tax penalty on Britons found guilty of using offshore [...]
Don’t expect miracles from Darling March 23, 2010 THERE is just one thing going for Alistair Darling today and that is low expectations. Nobody is anticipating any miracles from the Chancellor, for whom this will probably be the last Budget, regardless of the outcome of the general election. His growth forecasts will be too optimistic once again, he won’t be open enough about [...]
These days, the beautiful game is as much about the bottom line as goals March 17, 2010 I T used to be the case that the biggest day in a football fan’s life was a trip to see their side at Wembley in a cup final. For many football fans, though, it’s no longer the dream destination of Wembley that keeps them up at night. Instead, it’s the prospect of a High [...]
Liechtenstein sets the pace on tax March 15, 2010 OFFSHORE banks have provided a tax-free haven for wealthy investors’ cash for more than 70 years. But as HM Revenue & Customs steps up its pursuit of British account holders, several international banking centres are considering following Liechtenstein’s lead in brokering an anonymous amnesty between the UK authorities and individuals with undeclared money stashed offshore. [...]
Chester are liquidated by HMRC March 10, 2010 CHESTER CITY were wound-up by the High Court yesterday, although Cardiff City and Southend United were handed lifelines. Blue Square Premier side Chester owed HM Revenue & Customs £26,125 in unpaid taxes and were liquidated after 126 years in existence. But a fans group have vowed to resurrect the club by setting up a ‘phoenix’ [...]
Employers swap bonuses for tax-free pensions March 9, 2010 REMUNERATING high earning employees in a tax efficient way has always been difficult, and the recent interest in bonuses has made it even more tricky for employers. The introduction of the 50 per cent rate of taxation on those earning over £150,000 has also spurred many to look at ways to protect its high earners. [...]