Finance News – Hmrc
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UK tax data reportedly suggests claims of non-dom exodus overblown
Recent data from HMRC imply that the reduction in affluent individuals residing in the UK matches prior official estimates, indicating limited financial impact from changes to tax...
Read Full Article →Cosmetic surgery businesses in firing line for HMRC clampdown
HMRC’s increasing scrutiny of cosmetic surgery companies for potential VAT non-compliance could result in substantial financial liabilities and increased enforcement costs for busi...
Read Full Article →Companies House crackdown: 11,500 firms struck off
The recent removal of thousands of UK businesses from official records reflects intensified efforts to combat economic offenses, potentially impacting market transparency and resha...
Read Full Article →HMRC criticised by watchdog for failing to track billionaires’ tax
The inability of tax authorities to monitor contributions from the wealthiest individuals has raised concerns about potential revenue losses, prompting calls for new fiscal measure...
Read Full Article →HMRC 'doesn't know' how many billionaires pay tax in the UK
A recent report by Members of Parliament reveals that HM Revenue and Customs lacks precise data on the number of billionaires fulfilling their tax obligations within the United Kin...
Read Full Article →HMRC doesn’t know how many billionaires are in Britain
A report highlights that the tax authority lacks precise data on the number and tax contributions of extremely wealthy individuals, raising concerns about the challenges of impleme...
Read Full Article →HMRC under pressure as underpaid tax by US firms surges
The increase in tax shortfall attributed to US businesses has created a substantial financial challenge for the UK tax authorities, reflecting a significant rise in potential reven...
Read Full Article →UK Crypto Users Could Face $408 Fine for Failure to Provide Certain Information
HMRC announced that collecting specific details from cryptocurrency users will assist in accurately determining their tax obligations, with penalties applied for non-compliance to...
Read Full Article →Taxpayers on the hook for at least £1bn after Lindsey oil refinery closure
The closure of the Lindsey oil refinery may result in over £1 billion in financial liabilities for taxpayers, including substantial unpaid taxes and potentially significant decommi...
Read Full Article →Number of higher-rate UK taxpayers expected to hit more than 7m this year
Due to unchanged income tax thresholds since 2021, an additional half a million individuals in the UK will face a higher marginal tax rate on certain earnings in the upcoming fisca...
Read Full Article →Upper Tax Tribunal dismisses JP Morgan Chase Bank VAT appeal
The tribunal’s decision upholds HMRC’s stance on VAT for intra-group transactions, potentially impacting the financial liabilities and tax strategies of multinational banking insti...
Read Full Article →HMRC has ‘lost control’ of small businesses as missing tax hits 40%
A substantial portion of unpaid taxes originates from smaller companies, which represent nearly two-thirds of total outstanding revenue, indicating significant challenges in tax co...
Read Full Article →Gino D’Acampo: Restaurant empire’s huge debts revealed before rescue
The financial troubles of Gino D’Acampo’s business became apparent as the company faced significant liabilities exceeding £11 million, leading to administration proceedings prior t...
Read Full Article →Rob Cross: Darts star banned as director over unpaid tax of £450,000
Rob Cross has received a five-year prohibition from holding directorships following his company’s significant failure to settle a tax debt exceeding £460,000 with HM Revenue and Cu...
Read Full Article →100,000 UK taxpayer accounts hit in £47m phishing attack on HMRC
HM Revenue and Customs experienced a significant cybercrime incident affecting around 100,000 taxpayer accounts, resulting in millions of pounds lost, though individuals impacted a...
Read Full Article →HMRC eyes prosecution powers in tax evasion clampdown
HMRC is focusing on enhancing its ability to take legal action against individuals involved in tax evasion to improve revenue collection and ensure compliance with tax regulations.
Read Full Article →HMRC review signals potential pension tax changes in Autumn
A government review of workplace retirement plans may lead to adjustments in tax advantages for pension contributions, potentially affecting the savings and financial planning of i...
Read Full Article →UK HMRC mandates crypto exchanges must share user data starting 2026
Beginning in 2026, digital asset platforms operating in the UK will be required to provide detailed client information to tax authorities, enhancing regulatory oversight and compli...
Read Full Article →Former footballers claim ‘financial grooming’ took them to ‘hell and back’
Several former professional footballers have faced serious financial consequences after investing in unsuccessful schemes, resulting in tax avoidance allegations and substantial pe...
Read Full Article →Uber wins multimillion-pound reprieve on disputed UK tax payments
The recent legal outcome has relieved the ridesharing company from a substantial VAT liability, potentially affecting its financial obligations and cash flow in the UK market.
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