Top traded stocks within stocks and shares ISAs April 12, 2022 As the new tax year commences, we look at why you should make the most of your ISA allowance within an IG stocks and shares ISA and dig into the most popular shares in IG clients’ stocks and shares ISAs. Utilising your ISA allowance The new tax year is almost upon us and with this [...]
Lorry drivers carrying fresh meat stuck in 24 hour queues April 10, 2022 British lorries carrying perishable goods want to be prioritised at the port of Dover as enormous queues spoil products.
Explainer-in-brief: Downing Street’s non-domicile resident April 8, 2022 The latest in a string of bad news for the chancellor’s PR team post-spring statement is, unfortunately, his other half. Akshata Murty, the daughter of an Indian billionaire, has apparently been claiming non-domicile status since she moved to the UK in 2015. This means Murty pays tax on money earned in the UK, but not [...]
More weekend chaos expected as shortages, cancellations and IT issues rampage through April 8, 2022 UK travellers are bracing for more weekend chaos as the industry continues to be hit by a fatal combination of staff shortages, cancellations and IT issues. Brits remain stuck in hour-long queues at major hubs such as Gatwick and Manchester as British Airways and EasyJet slashed another 100 planes as a result of widespread Covid [...]
The City’s Purple Pay called out by HMRC for promoting tax avoidance April 7, 2022 The City’s Purple Pay has been named and shamed by HM Revenue and Customs (HMRC) for promoting tax avoidance schemes. The taxman has revealed the names of companies which have promoted schemes to avoid paying tax for the first time today, warning users that they could face “large tax bills” unless they withdraw from them. [...]
Is the taxman coming for your digital assets? April 4, 2022 John Hood of Moore Kingston Smith examines the HMRC's closer scrutiny of crypto assets and the OECD's framework.
Exclusive: HMRC to crack down on cabbies and taxi drivers with new tax checks before licence renewal April 4, 2022 HMRC is launching a crackdown on taxi drivers, mini cab drivers and scrap metal merchants from April, with the introduction of new tax evasion checks, City A.M. has been told. The introduction of a number of new tax evasion checks will allow HMRC to further scrutinise workers in what it sees as ‘high risk’ sectors [...]
Letters: Digital VAT can be an opportunity April 4, 2022 [Re: Digitalisation of VAT for small businesses, April 1] The next phase of Making Tax Digital (MTD) for VAT came into force on Friday, and it’s fair to say that not every small business will have welcomed it with open arms. Already facing a laundry list of challenges, they now need to comply with HMRC’s [...]
On HMRC’s radar: Number of ‘nudge’ letters for offshore income or gains shoots up to nearly 177,000 March 28, 2022 Information obtained from HM Revenue & Customs (HMRC) reveals that HMRC has to date issued nearly 177,000 so-called “nudge” letters in respect of offshore income or gains since they started the practice with less than a thousand in the 2016/17 tax year. This is thought to be the first time that HMRC has released public [...]
Weekend Read: HMRC launches more than 1,000 new probes every single day in attempt to recoup lost pandemic revenue March 26, 2022 HMRC has launched 137,000 tax investigations in the six months to December 2021, up 9 per cent from the 126,000 investigations in the same period last year, according to new data shared with City A.M. today. This amounts to the Revenue opening 1,062 tax investigations per day. HMRC is ramping up its compliance activity as [...]