Tax campaigners call for “pandemic profit levy” Tax Justice UK has issued a fresh call for a windfall tax on companies that profited from the pandemic, or from economic changes accelerated by COVID-19. A report from the campaign group shows six firms raised their profits by a total of £16bn over the last financial year. Robert Palmer, executive director of Tax Justice […] By Lisa Brownlow, 28 August 2021
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HMRC probes 153 people suspected of aiding tax evasion HMRC has confirmed it is investigating 153 suspected enablers of tax evasion, including unregulated tax advisers and a Law firm says that with HMRC’s Fraud Investigation Service having been given additional resources to recruit more staff, the number of investigations into tax fraud enablers is likely to increase. Adam Craggs, head of tax disputes at […] By Lisa Brownlow, 28 August 2021
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August 2021 saw the number of company insolvencies reach their highest level since the first UK lock There were 1,348 registered company insolvencies in August 2021, according to figures released by the Insolvency Service – 71% higher than in the same month in the previous year, but 1% lower than the pre-pandemic figure in August 2019. August 2021 saw 1,256 Creditors’ Voluntary Liquidations (CVLs), the highest level seen since January 2019, more […] By Lisa Brownlow, 28 August 2021
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HMRC receives 107k tax dodge tip-offs HMRC received 107,000 reports of suspected tax dodging in the year to March, with many of these linked to suspected fraudulent claims related to the support schemes set up for businesses affected by the pandemic. HMRC has seen more than 28,000 reports of suspected fraud about the furlough scheme, with it estimated that the tax […] By Lisa Brownlow, 28 August 2021
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Starmer: Tax hike and UC cut will ‘hammer working people’ Labour leader Sir Keir Starmer says Government plans to increase taxes and cut in-work benefits will “hammer working people”. With ministers planning to roll out a 1.25% National Insurance increase while freezing the income tax allowance and removing the £20-a-week Universal Credit uplift, Sir Keir said: “The Government’s acting as if there’s no alternative here. […] By Lisa Brownlow, 28 August 2021
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