Exclusive: Investment platforms flouting tax rules on ISA stocks February 6, 2025 Almost all UK investment platforms have been breaking HMRC rules by allowing stocks ineligible for tax relief to be put in ISAs, a City AM investigation has revealed. AJ Bell, Fidelity, Interactive Investor and many others have been allowing stocks that should not get tax-free status to be added to ISA portfolios, meaning capital gains [...]
Barclays says services are back to normal after technical issue ‘resolved’ February 2, 2025 Barclays has apologised to customers after technical problems caused disruption to services and payments over the weekend. The bank said the issue had been resolved on Sunday morning and delayed payments processed. Barclays had previously said affected customers could see an outdated balance with payments made or received not showing. On Sunday morning, a Barclays [...]
The Capitalist: Pedicabs, WH Smith and HMRC hang-ups January 30, 2025 Pedicab politics, the demise of WH Smith and taxman ghostings: catch up on the latest gossip in this week's edition of The Capitalist.
Brits warned to brace for higher alcohol prices from next week January 28, 2025 On February 1 new duty rates on wine and spirits will come into force, meaning a rise in price for most alcohol. Under a new sliding system of duties, wine with a higher abv (alcohol by volume) will see the biggest price increase, with the duty on a 14.5 per cent abv wine to rise [...]
Mike Ashley calls on Reeves to hold HMRC ‘to account’ after court victory January 27, 2025 Mike Ashley has called on the Chancellor Rachel Reeves to hold HMRC “to account” after the Sports Direct tycoon won a victory over the taxman in a data protection court battle. In a ruling today, the High Court said HMRC had taken “too narrow an approach” when it refused to hand over personal information to [...]
Crafter’s Companion: Huge debts revealed at firm rescued by Dragons’ Den star Sara Davies January 23, 2025 Crafter’s Companion, the company started by Dragons’ Den star Sara Davies while at university, owed almost £20m when it collapsed into administration earlier this month before being rescued, it has been revealed. The company appointed Interpath to oversee the process on 7 January in a move which has led to its Barlborough store closing and [...]
Inheritance tax: Bill for Britain’s ‘most hated tax’ hits record January 22, 2025 HMRC collected £6.3bn in inheritance tax in the last nine months, but with changes to the code announced in Budget, this bill is expected to get bigger.
HMRC ‘degrading’ services and ‘eroding’ confidence, MPs warn January 22, 2025 The UK’s tax authority is “degrading its own services as a matter of policy” and damaging the public’s confidence, a report by MPs into HMRC has warned. Growing concerns have been raised about HM Revenue & Customs (HMRC) delivering poor customer service, which MPs claim is intentional, failing to pursue debts and reducing its prosecutions. [...]
How much does tax really affect your decision making? January 22, 2025 From VAT on school fees to business taxes, we’re living through a live experiment with the effects of tax on people’s choices. Evidence suggests the results could be far from clear-cut, says Tim Sarson Last week, I was lucky enough to be on the panel for the Women in Tax network’s annual debate. The question [...]
Public sector tackles inefficiency with new AI tools January 21, 2025 The government has launched a new digital strategy to modernise public services, using a series of artificial intelligence (AI) tools to fix government inefficiency. The science and technology secretary Peter Kyle announced the initiative following a review which revealed various efficiencies within the government. Daily, HMRC was dealing with over 100,000 phone calls, while DVLA [...]