HMRC: self-employed workers twice as likely to file taxes late Tax Self-employed workers are twice as likely to file their taxes late compared to higher earners, City AM can reveal, amid renewed focus over the administrative burden facing freelancers and sole traders. Those that are self-employed and on the lowest incomes below the basic tax rate threshold, are “significantly more likely to miss the self assessment [...]
HMRC handed red card in £584,000 football referee tax lawsuit Legal HMRC has lost a long-running legal battle against the UK’s football refereeing body over the employment status of 60 referees, after the tax authority issued a £584,000 tax bill. In a judgment on Friday, the First Tier Tribunal (FTT) upheld that the referees were self-employed and not employed by the body, the Professional Game Match [...]
Small business tax rule changes will not boost Exchequer coffers, top accounting firm argues Tax A leading accountancy and advisory firm has sounded the alarm over a consultation by HMRC into tax rules for small businesses, arguing it will not close the tax gap and would leave firms tangled in even more red tape. Blick Rothenberg argued that the current HMRC consultation into so-called close companies, which have fewer than [...]
Number of top rate taxpayers surges as frozen thresholds squeeze Brits April 29, 2026 The number of higher and additional rate taxpayers in the UK has soared since the start of the decade as frozen thresholds have dragged nearly two million into paying higher rates of tax despite not being classified as traditional high-paid professionals. According to the latest personal income statistics from HMRC covering the 2023/24 tax year, [...]
End of deadlock: Pension Schemes Bill to become law as government backs down April 29, 2026 The Pension Schemes Bill is set to become law after the House of Lords agreed to final watering down plans from the government, ending the long-standing deadlock between the two houses. The legislation had run into multiple walls amid consistent back and forth between the lower and upper house, after neither side refused to back [...]
Italy and UK risk driving Formula 1 away with misguided tax raids April 26, 2026 Italy’s latest attempt to claw back tax from Formula 1 drivers and teams is being framed as a crackdown on evasion. In reality, it looks far more like a system struggling to keep up with the modern sport it is trying to regulate. Authorities are reportedly looking to audit teams and drivers retrospectively between 2020 [...]
Eight London sites raided in peer-to-peer crypto trading bust April 22, 2026 The City watchdogs, working with HMRC and the Regional Organised Crime Unit, have carried out the first crackdown on illegal crypto trading across multiple London locations. The enforcement targeted eight premises in London suspected of illegal peer-to-peer crypto trading by the Financial Conduct Authority (FCA). The traders were issued cease-and-desist letters at each site, notifying [...]
FCA crypto U-turn – everything retail investors need to know April 22, 2026 After banning crypto Exchange-Traded Notes (ETNs) for retail customers in January 2021, the Financial Conduct Authority (FCA) reversed its position in October 2025, meaning retail investors can once again purchase exchange-listed crypto instruments, such as ETNs. According to FCA research, conducted in conjunction with YouGov, 91 per cent of UK consumers are aware of cryptoassets. [...]
‘Concerned but not surprised’: Three-quarters of UK landlords and sole traders miss digital tax launch April 18, 2026 Only a quarter of sole traders and landlord who need to sign up for the UK’s new digital tax system have done so, despite the scheme already having come into effect this month. From 6 April, anyone who earned more than £50,000 in the 2024/25 tax year from property or self-employment income was required to [...]
From Jaffa Cakes to National Insurance: How to fix Britain’s mad tax system – according to the experts April 14, 2026 In its latest report, the OECD scolded the UK for its illogical and growth-impeding tax system. Ali Lyon speaks to five tax experts to work out how to fix it. Potato crisps and their corn chip cousins are – as indulgent savoury snacks go – undeniably similar. They taste alike and are a similar size. [...]