Brits paid billions more in taxes over the last year as HMRC ramped up tax collection June 23, 2022 The British population paid more in taxes in 2021-2022 as HM Revenue and Customs collected £718.2bn in taxes, a near 23 per cent rise from the year before. Total HMRC tax receipts for April 2022-May 2022 were £121.9bn, according to HMRC data released today. These were £14.8bn higher compared to the same period last year even as the [...]
Criminal attacks, non-payment and evasion result in £32bn gap between tax expected and tax paid June 23, 2022 The difference between the total amount of tax expected and that which is actually paid hit £32 billion in 2020/21 – according to HM Revenue and Customs (HMRC). At 5.1 per cent, there has been no change in the percentage tax gap compared to the previous year, although the monetary value has fallen by £2 [...]
Execs from TUI, EasyJet and British Airways grilled over role in Bank Holiday travel chaos June 14, 2022 Airlines’ executives were grilled in Parliament over their role in the travel chaos, which has left thousands of Britons stranded over the half-term and Bank Holiday weekend. Representatives from TUI, EasyJet and British Airways (BA) appeared before the Business, Energy and Industrial Strategy Committee (BEIS) today. The committee questioned David Burling, TUI’s chief executive for [...]
Britain’s ‘most-wanted’ tax cheat begins eight year jail sentence after nine years on the run June 10, 2022 One of “Britain’s most-wanted tax fugitives” has appeared in court for her role in a multimillion-pound VAT fraud after she was extradited following nine years on the run. Sarah Panitzke, 48, originally from York, finally faced justice when she appeared at Kingston Crown Court in south-west London on Friday. Panitzke absconded in May 2013 while [...]
Biffa shares soar 25 per cent on £1.4bn takeover bid by US private equity firm June 7, 2022 Biffa has received a takeover offer of around £1.36bn by a US private equity firm today, which sent shares in the waste management giant flying. Biffa shares surged more than 27 per cent to 415p per share by close of play, just 30p shy of the offers stock value – and its highest since its float [...]
Airlines axe hundreds of flights while ‘blame game’ between government and industry continues June 1, 2022 Passengers have seen another day of disruption as airlines continue to axe hundreds of flights while the “blame game” between government and industry shows no signs of stopping. British Airways (BA) today cancelled 124 flights from Heathrow and easyJet axed an additional 31 at Gatwick. According to aviation analytics firm Cirium, easyJet was the most [...]
Exclusive: Brits slapped with £571m in HMRC fines in crackdown on tax avoidance and late payments May 31, 2022 Penalties imposed by HMRC on taxpayers have jumped by nearly a third, from £445m to £571m in just one year, according to fresh HMRC data, shared exclusively with City A.M. today. The primary reason behind this jump is HMRC increasingly clamping down on tax avoidance as part of its efforts to make up for revenue [...]
Should it take four hearings to decide employment status? May 31, 2022 Justine Riccomini explains the outcomes in the two latest employment status cases to emerge from the Court of Appeal Another two IR35 cases were decided recently, which furthered the cause of HMRC in their pursuit of television and radio presenters when the Court of Appeal found in favour of HMRC in both instances. Kickabout The [...]
Royal Mail under fire for wrongly charging British customers £150 ‘Brexit tax’ May 30, 2022 Royal Mail is under fire from angry Brits for reportedly charging incorrect Brexit import fees on deliveries from the European Union. The mail giant wrongly slapped fees on items customers already own. One man was charged around £200 for a pair of glasses to be sent back from a hotel in Spain, according to a [...]
Revealed: HMRC now tracking 277 UK businesses it suspects of using tax havens to reduce tax bills May 30, 2022 HMRC is now tracking 277 British businesses it suspects of using ‘tax havens’ to artificially reduce their tax bills in the UK, according to a City law firm. HMRC is concerned that some UK businesses are still avoiding tax in the UK by recording income in countries with zero or near-zero corporation tax. Countries traditionally [...]