Former Wasps chief executive interested in bid for club October 9, 2022 Financially troubled Premiership rugby club Wasps could be taken over by a bid headed by former chief executive David Armstrong. The club, who moved to Coventry from High Wycombe in 2014, are facing money woes in relation to tax owed to HMRC, bond repayments and other debt. Sources close to the auction of the club [...]
Tax credit experts Adsum: Firms can’t wait for Truss to solve problems – pursuing digital transformation is key October 7, 2022 With Liz Truss’ government looking to kickstart the economy through low taxes and deregulation, City A.M. sat down with the head of a fintech tax credit specialist, to find out how businesses can overcome challenges. Co-Founder and Director at Adsum, Freddie Digby, spoke at length about the challenges facing UK businesses at present, and while [...]
Worcester Warriors: Departures confirmed as club crisis continues October 3, 2022 The crisis gripping Worcester Warriors has begun to bite after the top-flight rugby club had two fixtures cancelled by Premiership Rugby and saw the beginning of a possible player exodus. On Monday morning the financially stricken club were informed that their previously postponed match against Gloucester Rugby and their upcoming game against Harlequins have both [...]
Automotive industry underpaid taxes more than any sector after 143 per cent surge September 26, 2022 The automotive sector has seen the highest increase in underpaid taxes, following a 143 per cent year surge. According to financial investigation firm PfP, the amount the HMRC thinks the industry has avoided paying has gone up from £182.3m to more than £444.2m. This will lead to increased industry scrutiny over the next year. But [...]
Kwarteng ditches corporation tax hike in bid to lure investment September 23, 2022 Kwasi Kwarteng has scrapped the formerly announced six percentage point hike in corporation tax - keeping the rate at 19 per cent.
Let’s be honest, stamp duty is a terrible tax killing economic growth and productivity September 22, 2022 Tomorrow’s mini-budget is turning into a super-budget. The changes were already looking drastic, from the energy price freeze and scrapping the bankers’ bonus to reversing the national insurance and corporate tax rises. The latest reports suggest the prime minister and her chancellor are even intending to cut stamp duty. “This is about growing the size [...]
Oxford Street candy stores to face tougher rules amid claims of ‘dirty money’ and tax evasion September 21, 2022 Westminster Council will come down hard on its so-called ‘dirty money’ problem, zeroing in on US-style candy stores in Oxford Street. A motion will be passed this evening as 30 confectionary shops are under investigation for business rates evasion totalling £3m. The council leader said the war in Ukraine highlighted Russian oligarch investment in Westminster, [...]
What’s next for the UK’s crypto economy? September 18, 2022 Simon Jennings analyses the opportunity for the UK to be at the forefront of change and become the global centre of the crypto economy.
Worcester match to go ahead after meeting 12 noon deadline September 16, 2022 Worcester Warriors’ Premiership match with Exeter Chiefs will take place on Sunday after the troubled club met a 12 noon deadline to provide assurances that their game can safely go ahead. In a statement, the Rugby Football Union said: “Worcester Warriors has met a midday deadline set by the RFU to provide assurances in relation [...]
Brexit onslaught deepens as a third of all UK exporters to EU vanish due to red tape knockout September 15, 2022 The number of UK businesses exporting goods to the EU fell 33 per cent to 18,357 in 2021, from 27,321 in 2020, according to data from HMRC. Discussing the figures with City A.M., Michelle Dale, a senior manager at accountancy firm UHY Hacker Young, pointed out the fall is due to the extra red tape [...]