Strict new Brexit transport rules make UK businesses ‘give up’ on EU imports: ‘Simply not worth the hassle’ January 4, 2022 Many British businesses may “give up importing” as a result of new strict rules that came into force on Saturday, on 1 January, a former senior civil servant in charge of Brexit planning has warned. Philip Rycroft, who was permanent secretary at the Department for Exiting the European Union (DExEU) between 2017 and 2019, said [...]
From gold bars to hard cash: HMRC recovers £1bn from fraudsters in five years December 30, 2021 More than £1bn has been recovered from fraudsters since HMRC formed it specialist scam squad five years ago. The figure is enough to fund around 20,000 NHS nurses for a year, HMRC revealed today. It comes after a string of investigations have led to over 1,200 seizures of cash and assets – sometimes hidden in [...]
Brexit red tape: More disruption to food supplies looming as EU is ‘not prepared’ for new UK import rules that take effect on 1 January December 30, 2021 The food industry is warning of more disruption to food supplies when new UK import rules take effect this Saturday. From 1 January, importers must make a full customs declaration on goods entering the UK from the EU or other countries. Traders will no longer be able to delay completing full import customs declarations for [...]
HMRC did not issue a single Accelerated Payment Notice last year in sign controversial tax campaign may be waning December 29, 2021 HMRC’s controversial Accelerated Payment Notice campaign may be waning, according to new data. HMRC did not issue any Accelerated Payment Notices (APNS) last year, making it the first year none have been issued since they were introduced in 2014 as part of HMRC’s crack down on the use of tax avoidance schemes, according to research [...]
Christmas in Canary Wharf: UK’s largest banks face £8.5bn HMRC bill with £35.8bn of tax under consideration December 22, 2021 Large banks face a potential £8.5bn tax liability from the UK tax authority, according to new figures obtained by Freedom of Information (FOI). The FOI to HM Revenue and Customs (HMRC), carried out by City law firm DLA Piper, showed that, at the end of March 2021, additional tax liability under investigation had increased by [...]
Home transactions up in November as eyes turn to Omicron’s impact on market December 21, 2021 Transaction numbers gained pace in November, up 24.3 per cent on the previous month, following an initial dip after the end of the stamp duty holiday. According to the latest HMRC data, there were 96,290 housing transactions in November, 16.4 per cent lower than November 2020, but up on the prior month. The figure for [...]
Sunak’s quietly simplified tax policy could unshackle our economy – or strangle it December 16, 2021 Tax Day hardly sounds like the kind of day we want to mark on the calendar. It is a relatively new practice, when the government dumps an array of tax consultations, reforms and policy proposals on the Treasury’s website, all in one go. Unsurprisingly, they mostly happen without fanfare. But they do offer us helpful [...]
Finance Bill: government accused of failing to make case for tax reform December 15, 2021 A Westminster committee has accused the government of failing to make an adequate case for its proposed reforms to the tax system.
Letters: New Covid rules, new support December 10, 2021 [Re: The party’s over, yesterday] Small businesses will undoubtedly be hit by the new restrictions implemented as part of Plan B. These businesses have only just started on their tentative recovery after nearly two years of this crisis, and many need the winter trading boost to get through to 2022 with their heads above water. [...]
Waterstones ‘named and shamed’ for failing to pay minimum wage December 9, 2021 Waterstones are among just some of the companies that have been “named and shamed” by the Government this morning for failing to pay the minimum wage.