Month: June 2023

Government plans crackdown on umbrella companies by creating a legislative framework and reviewing employee pay processes and tax liability – UK loses around £400m a year to marketed #tax avoidance – a lot of proposals to digest

Fake companies caught in £500k covid loan fraud – More than 10 sham companies that fraudulently claimed over £500,000 in bounce back loans have been shut down by the Insolvency Service

Duo of #tax avoidance promoters face £100k fines – Peak PAYE and Saxonside given stop notices and ordered to stop selling specific tax avoidance schemes immediately or face penalty of £100k #HMRC

Airbnb hands over users’ detailsto taxman to help track down those failing to declare incomeAirbnb has shared its users’ income details with HMRC to help officials track down those who have failed to pay the right amount of tax.The earnings data goes back as far as the 2017-18 financial year.Airbnb hosts are aware their data…
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HMRC targets 512 businesses using ‘tax havens’ – claims fail to meet OECD’s substantial activity requirements as don’t have core income-generating activities, senior employees or genuine operating expenditure in countries

Amazon paid £781m in UK taxes – The UK division of Amazon paid £781m in corporation and employer national insurance in 2022, up £130m on the previous year

Property sales down 20% in 2023 – performance in April worse with 30% drop in sales shows HMRC estimates for UK residential property transactions for April 2023 – ‘paint a bleak picture for UK property market

HMRC slaps £2.9m in fines for money laundering abuse – Over 240 businesses have been fined for breaches of anti-money laundering rules with fines of nearly £3m issued between July and December 2022

Property developer loses £2.79m tax case – A property developer has lost an appeal at the Upper Tribunal over a dispute with HMRC over withholding tax on £2.79m in income earned from interest

How to protect yourself as fraudsters target taxpayers – rising level of scammers posing as HMRC means accountants need to ensure their clients are able to resist attack, explains Stuart Miller, head of product compliance