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The Latest Breaking News from HMRC

Tory donor Lycamobile handed HMRC winding-up order amid tax dispute

Loss-making pay-as-you-go sim card seller had been embroiled in eight-year VAT battle

The Guardian - UK

'I should have paid more attention to my financial affairs' - Bradley Wiggins opens up about bankruptcy

Former Tour de France winner was declared bankrupt in June

Cycling Weekly

'I wasn't aware of this mess until I was deep into retirement' - Bradley Wiggins explains financial challenges that led to bankruptcy

Speaking on the WEDU podcast, Wiggins offers a candid insight into his financial situation and his financial oversight during his racing career

Cycling News

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Katie Price Says She'll Become An Escort For Company, Not Sex, To Deal With £760K Bankruptcy

Katie Price has announced that she would consider becoming an escort for companionship, not sex, to address her financial issues following her £760,000 bankruptcy declaration.

International Business Times UK

Are the authorities powerless to stop Tommy Robinson’s online output?

New laws may make it easier to pursue far-right activist over alleged role in spreading disinformation

The Guardian - UK

‘Free money’: £4bn lost to fraud and error on flagship HMRC ‘innovation’ scheme

UK tax credits to promote research and development were claimed by a pub for changing its menus and by window cleaners for hanging their buckets

The Guardian - UK

House sales increased by 8% annually in June – HMRC figures

An estimated 91,370 transactions were made, which was 8% higher than June 2023 but slightly lower than in May, HM Revenue and Customs said.

The Independent UK

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Katie Price's legal troubles explained: From DUI to bankruptcy and Heathrow Airport arrest

Price is battling a £760,000 unpaid tax bill after second bankruptcy declaration

Evening Standard

Super-rich being advised how to avoid Labour tax clampdown, undercover investigation suggests

Revealed: Wealthy being pitched offshore products said to shelter fortunes from inheritance tax and capital gains tax

The Guardian - UK

Who is Nadhim Zahawi? Millionaire former chancellor plotting a ‘£600m Telegraph takeover bid’

Born to a Kurdish family in Iraq, Nadhim Zahawi rose to prominence first as Boris Johnson’s vaccines minister

The Independent UK

Billionaire Gerko loses tax fight over quant trader payouts

One of the UK’s largest taxpayers, billionaire quant trader Alex Gerko lost a legal dispute with British authorities over the tax treatment of a deferred payment plan. Appeal judges ruled that Gerko and other traders, while they were still running high-frequency trading strategies at GSA Capital Partners between 2010 and…

Evening Standard

Parents saving up to £10,000 in nursery benefits may face unexpected tax bills

HMRC says several commercial schemes are exploiting tax exemption aimed at employers who provide nursery places

The Guardian - UK

HMRC withheld offshore tax avoidance figures for UK’s wealthy during election

Pressure on officials to publish estimate of offshore tax avoidance in almost £40bn of uncollected revenues

The Guardian - UK

When is Universal Credit paid next month? Payment dates for DWP benefits set to change

The DWP and HMRC have confirmed that those receiving certain benefits will receive their payments early — here’s why

Evening Standard

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The Independent UK

UK house sales tick up for fifth month in a row

An estimated 91,290 sales took place in May, which is 17% higher than in May 2023, HM Revenue and Customs said.

The Guardian - UK

Number of UK income tax payers leaps by 4.4m in three years due to threshold freeze

HMRC data shows 26% more people over state pension age paying tax on earnings than in 2021-22

The Independent UK

8.5m people over state pension age are income tax payers

Between the tax years 2023-4 and 2024-5, there was a 660,000 increase in income tax payers over state pension age, according to HMRC figures.

The Guardian - UK

Price well and check fees: 10 expert tips on selling clothes online

Insiders from sites such as eBay, Depop and Vinted give advice on how to get the best cash for preloved items

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The Independent UK

The little-known credit that could boost grandparents state pension

Many grandparents are preparing to take on extra childcare responsibilities over the summer holidays

The Guardian - UK

HMRC is threatening my terminally ill father with debt collectors

He is 92 and doesn’t actually owe the money, but there is nothing he can do to stop the tax demands coming

The Guardian - UK

Labour drafts options for wealth taxes to ‘unlock’ funds for public services

Exclusive: Sources say changes to inheritance tax and capital gains tax are being discussed

The Guardian - UK

Pressure on Labour and Conservatives as tax gap hits £40bn

Shortfall between tax owed and tax paid puts issue of avoidance in election spotlight

The Conversation

Three ways politicians always promise to raise money without increasing taxes – and why they rarely deliver

After weeks of controversy over Labour and Conservative costings – in which each side accused the other of dishonesty – the manifestos show that both parties had wildly exaggerated their rival’s plans.

The Guardian - UK

How to reverse austerity? Scrap some of the tax-relief schemes worth £204bn

Even the HMRC doesn’t know if any of the 341 tax breaks promote economic growth – many merely line the pockets of company owners and the super-rich, writes Phillip Inman, economics editor

The Guardian - UK

HMRC has failed to fine a single ‘enabler’ of offshore tax fraud in five years

Landmark powers to impose huge fines to tackle tax evasion and avoidance are ‘pointless’, figures show

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