Latest News

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The Chartered Institute of Taxation has highlighted the fact that two new non-compliance penalties have come into effect after the Finance (no 2) Act 2017 gained royal assent, as well as expressing reassurance about how they will work. Under the new...
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The number of untaxed cars on Britain's roads has trebled from the figure before the abolition of the paper disc. Department for Transport data has shown owners have neglected or deliberately avoided paying for 1.8 per cent of vehicles, or 700,000, with...
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Chancellor Philip Hammond has been tipped to make changes to pension tax relief in his Budget next week in order to help bring in extra revenue for the government. Director of Policy at Royal London Steve Webb, a former Pensions Minister, said the politically...
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Chancellor of the Exchequer Philip Hammond should not raise Insurance Premium Tax (IPT) again after a series of recent hikes, the Chief Executive of Admiral Group David Stevens has said.  He remarked: "The government has doubled IPT from 6% in 2015...
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Port Talbot steelworkers are being targeted by scammers who are trying to get them to transfer their pension savings, the Financial Conduct Authority has acknowledged. The divestment of the British Steel Pensions Scheme by Tata Steel in order to complete a...
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A major row has erupted after the National Audit Office (NAO) pulled a report on the number of people in Scotland paying higher taxes than the rest of the UK at the last minute, after the Scottish National Party (SNP) government at Holyrood disputed the...
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The Pensions Regulator has published the names of 169 employers that it has prosecuted for failing to pay fines imposed for their failure to set up auto-enrolment schemes. A collective total of £1.25 million of fines went unpaid by the organisations,...
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The recent increases in insurance premium tax (IPT) have taken a particular toll on young drivers, a study by price comparison site Comparethemarket.com has found. It suggested that the cost of IPT to motorists aged 17-24 is £455 million a year,...
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Employers doing only just enough to meet the minimum requirements when it comes to auto-enrolment will be selling their staff short and creating problems down the line, financial services provider Royal London and legal firm Eversheds Sutherland have...
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Gary Lineker has been named among the long list of rich and famous people who benefitted from a tax avoidance scheme in a further Paradise Papers revelation. The former footballer, who now presents the BBC's Match of the Day programme, has been revealed...
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Chancellor of the Exchequer Philip Hammond is reportedly considering lowering the turnover threshold at which small firms pay VAT from its current £85,000 to nearer the standard international figure of nearer £20,000. Currently, around 55 per cent...
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A decision by tax authorities will lead to millions of people not receiving statements to allow them to check that their state pensions are correct, it has been reported. HM Revenue & Customs (HMRC) will no longer send statements to members of private and...
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Gig economy workers could increase the size of their pension pots by up to £75,000 if auto-enrolment extended to them, according to a new report by the Pensions Policy Institute for Zurich. The research said a change is necessary in order to reduce...
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Lewis Hamilton avoided £3.3 million in tax over his use of a private jet, according to revelations contained in the Paradise Papers. The Formula 1 world champion used an Isle of Man-based scheme now under investigation by HM Revenue and Customs to gain...
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The trade union Unison has called for the government to take further action to curb tax evasion in the wake of the Paradise Papers revelations this week, which have put a number of wealthy individuals in the spotlight, from the Queen to the stars of Mrs...
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A massive leak of papers relating to the use of tax havens by wealthy individuals and organisations has revealed that the Queen's estate is among those taking advantage of offshore arrangements to save money. The 'Paradise Papers' leak, which...
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Scotland's First Minister Nicola Sturgeon has set out a discussion paper outlining a range of possible proposals aimed at raising income tax rates in Scotland. Advocating tax increases to pay for public services, Ms Sturgeon remarked: "we must...
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Football manager Jose Mourinho has claimed to have settled his tax dispute with the Spanish authorities. The Manchester United boss had been summoned to a court on Friday (November 3rd) in Madrid to answer claims of tax avoidance in relation to image rights...
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The billionaire Barclay brothers have lost a tax case against HMRC in which they claimed they were owed £1.25 billion as a result of tax overpayments. The pair had sought a refund of "compound interest" on CAT overpayments from their...
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Barriers for millennials hoping to save for pensions are not just concerned with pensions policy, according to new analysis by Royal London. This has identified five different groups according to circumstance, and led to the firm arguing that issues like...
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The Adam Smith Institute has called for Stamp Duty to be abolished in this month's Budget, arguing that the levy is having the effect of keeping people too far away from jobs and in homes of the wrong size. According to the report, the tax "gums up...
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Divorced women are losing around £5 billion in pension payments a year, mainly because they did not discuss this issue when settling their financial affairs. A Scottish Widows study has found that while 56% of married people would take a stand to get a...
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British workers need to be protected from the "pensions roulette" that could lead to their retirement income varying by up to £5,000 a year depending on whether they retire after a good or bad year for investment, the Trades Union Congress...
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The Department for Work and Pensions (DWP) has published details of new plans to require pension schemes to publish details of the fees they charge members for investing in their retirement savings. The plans will also give savers more information about where...
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New Treasury figures have indicated that Britain's 'tax gap' is at its narrowest ever, with only six per cent of revenue uncollected in the 2015-16 tax year. The gap is down from the 2005-06 level of 7.9%. Had it still been that large the...