Tag #Hmrc

Showing 1 to 12 of 22 results

thetimes.com

🌐 85% Global Worthiness

Sep 6, 13:17

UK HMRC's Connect System: Data-Driven Tax Enforcement and Privacy Concerns

The UK's HMRC uses the Connect system, a data analytics tool accessing various sources to detect tax evasion, raising privacy concerns despite recovering billions in unpaid taxes and improving tax compliance globally.

UK HMRC's Connect System: Data-Driven Tax Enforcement and Privacy Concerns

The UK's HMRC uses the Connect system, a data analytics tool accessing various sources to detect tax evasion, raising privacy concerns despite recovering billions in unpaid taxes and improving tax compliance globally.

Progress

28% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

What is the Connect system, and what are its primary functions in UK tax enforcement?

Connect is a data analytics system used by the UK's Her Majesty's Revenue and Customs (HMRC) to detect tax evasion and fraud. It integrates data from various sources, including credit agencies, driver's license records, bank accounts, property records, and online sales platforms, to identify discrepancies and patterns suggestive of illegal activity. This has led to the recovery of £3 billion in unpaid taxes since 2014.

theguardian.com

🌐 85% Global Worthiness

Aug 31, 10:20

UK Exchequer Chases £90m in Unpaid Taxes After Staffing Firm's Insolvency

Swipejobs, a US company, acquired the assets of Challenge Recruitment Group, a UK staffing firm, from administration in July 2025, leaving £90 million in unpaid taxes owed to the UK exchequer.

UK Exchequer Chases £90m in Unpaid Taxes After Staffing Firm's Insolvency

Swipejobs, a US company, acquired the assets of Challenge Recruitment Group, a UK staffing firm, from administration in July 2025, leaving £90 million in unpaid taxes owed to the UK exchequer.

Progress

48% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

How did the acquisition of Challenge Recruitment Group's assets by Swipejobs leave such a large tax debt unpaid?

The acquisition was structured as a pre-pack administration deal, where Swipejobs paid £4.9 million for contracts and £12.7 million to secured lenders but left the remaining creditors, including HMRC, to receive only a fraction of what they are owed. This structure effectively discharged the company of its tax debt.

dailymail.co.uk

🌐 75% Global Worthiness

Aug 5, 10:19

UK Savings Taxpayers to Surge to 2.64 Million in 2025/26

The number of UK taxpayers paying tax on savings interest is set to rise to 2.64 million in 2025/26 from 647,000 in 2021/22, due to rising interest rates and a frozen Personal Savings Allowance, resulting in over £6 billion in additional tax revenue for HMRC.

UK Savings Taxpayers to Surge to 2.64 Million in 2025/26

The number of UK taxpayers paying tax on savings interest is set to rise to 2.64 million in 2025/26 from 647,000 in 2021/22, due to rising interest rates and a frozen Personal Savings Allowance, resulting in over £6 billion in additional tax revenue for HMRC.

Progress

52% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

What are the immediate consequences of the rising number of UK taxpayers facing tax bills on their savings interest?

The number of UK taxpayers paying tax on savings interest is sharply rising, projected to reach 2.64 million in 2025/26—a significant increase from 647,000 in 2021/22. This surge is primarily due to increased interest rates and a stagnant Personal Savings Allowance. The additional tax revenue for HMRC is estimated to exceed £6 billion.

dailymail.co.uk

🌐 75% Global Worthiness

Jul 20, 01:11

Inheritance Tax Triples as Families Misunderstand Gifting Rules

In 2024-25, £61 million in inheritance tax was levied on 220 estates due to incorrectly executed gifts, where families retained benefits of gifted assets; this issue is expected to worsen as pension inclusion in inheritance tax calculations takes effect in 2027.

Inheritance Tax Triples as Families Misunderstand Gifting Rules

In 2024-25, £61 million in inheritance tax was levied on 220 estates due to incorrectly executed gifts, where families retained benefits of gifted assets; this issue is expected to worsen as pension inclusion in inheritance tax calculations takes effect in 2027.

Progress

52% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

What are the immediate financial consequences for families failing to comply with inheritance tax regulations when making gifts?

In 2024-25, £61 million in inheritance tax was levied on 220 estates due to improperly executed gifts, primarily involving assets like property or artwork where the giver retained benefits. This highlights a common mistake: transferring ownership without relinquishing usage, triggering 'Gifts with Reservation of Benefit' rules. The resulting tax bills are significantly impacting bereaved families.

dailymail.co.uk

🌐 85% Global Worthiness

Jul 16, 13:15

HMRC Unable to Determine Tax Contributions of UK Billionaires

The UK's Public Accounts Committee (PAC) criticized HMRC for failing to determine the tax contributions of billionaires, despite the availability of public data, urging a plan to close the tax gap and improve public spending.

HMRC Unable to Determine Tax Contributions of UK Billionaires

The UK's Public Accounts Committee (PAC) criticized HMRC for failing to determine the tax contributions of billionaires, despite the availability of public data, urging a plan to close the tax gap and improve public spending.

Progress

48% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

What are the main reasons behind HMRC's inability to identify the tax contributions of UK billionaires, and what specific steps are recommended to improve this?

The PAC's report highlights a significant data gap in HMRC's ability to track tax payments from the wealthiest individuals. This deficiency undermines efforts to close the tax gap and optimize public revenue. The report underscores the need for more robust data collection and analysis, particularly concerning offshore wealth, to improve the accuracy of tax assessments.

theguardian.com

🌐 75% Global Worthiness

May 5, 10:11

HMRC Faces Backlash Over Tax Refund Delays and Closure of Free Online Filing Service

HM Revenue and Customs (HMRC) is facing criticism for delays in processing tax refunds, taking up to four months, impacting businesses and individuals; this coincides with the closure of a free online filing service for small businesses, forcing them to use paid third-party software, adding costs.

HMRC Faces Backlash Over Tax Refund Delays and Closure of Free Online Filing Service

HM Revenue and Customs (HMRC) is facing criticism for delays in processing tax refunds, taking up to four months, impacting businesses and individuals; this coincides with the closure of a free online filing service for small businesses, forcing them to use paid third-party software, adding costs.

Progress

52% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

What are the potential long-term economic and social impacts of HMRC's actions and the resulting decline in taxpayer trust?

The prolonged delays in tax refunds and the closure of the free online filing service could exacerbate financial difficulties for small businesses and individuals. The additional costs from mandatory third-party software, coupled with already strained cash flows, could negatively impact economic activity and growth. The falling public trust in HMRC further undermines its legitimacy.

theguardian.com

🌐 75% Global Worthiness

Sep 2, 22:21

Rayner Faces Potential Tens of Thousands of Pounds in Additional Stamp Duty

Deputy Prime Minister Angela Rayner may owe tens of thousands of pounds more in stamp duty after classifying her £800,000 Hove flat as her only residence, potentially avoiding the higher rate applicable to additional properties.

Rayner Faces Potential Tens of Thousands of Pounds in Additional Stamp Duty

Deputy Prime Minister Angela Rayner may owe tens of thousands of pounds more in stamp duty after classifying her £800,000 Hove flat as her only residence, potentially avoiding the higher rate applicable to additional properties.

Progress

52% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

What is the central issue regarding Angela Rayner's tax situation?

Angela Rayner might face a significant additional stamp duty bill—potentially £70,000—if tax officials determine she incorrectly declared her Hove flat as her only residence when purchasing it earlier this year. This is because classifying it as her sole residence allowed her to pay the lower rate of stamp duty (£30,000), rather than the higher rate for additional properties.

thetimes.com

🌐 85% Global Worthiness

Aug 11, 19:19

UK Dividend Allowance Cut Impacts 1.3 Million Taxpayers

The UK government's cut to the dividend allowance from £2,000 to £500 in 2023 has unexpectedly affected over 1.3 million people, generating substantial extra tax revenue for the government, projected to reach £940 million by 2027/28.

UK Dividend Allowance Cut Impacts 1.3 Million Taxpayers

The UK government's cut to the dividend allowance from £2,000 to £500 in 2023 has unexpectedly affected over 1.3 million people, generating substantial extra tax revenue for the government, projected to reach £940 million by 2027/28.

Progress

48% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

What is the immediate impact of the UK's reduced dividend allowance on the number of taxpayers and government revenue?

The UK government's reduction of the dividend allowance from £2,000 to £500 has significantly increased the number of taxpayers. This impacts approximately 1.3 million individuals in 2023 and 2024, resulting in an extra £150 yearly tax for a basic-rate taxpayer with a £50,000 investment yielding 4% dividends.

dailymail.co.uk

🌐 65% Global Worthiness

Jul 26, 13:12

£1.2 Million VAT Fraudster Jailed After Lavish Spending Spree

Nicholas Adams, 49, of Whitchurch, was sentenced to two years in prison for a £1.2 million VAT fraud spanning January 2022 to August 2023, using the funds for a lavish lifestyle including a £19,000 birthday party and luxury stays in London and Dubai.

£1.2 Million VAT Fraudster Jailed After Lavish Spending Spree

Nicholas Adams, 49, of Whitchurch, was sentenced to two years in prison for a £1.2 million VAT fraud spanning January 2022 to August 2023, using the funds for a lavish lifestyle including a £19,000 birthday party and luxury stays in London and Dubai.

Progress

44% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

What was the total amount of VAT fraudulently claimed by Nicholas Adams, and what specific actions did he take to spend the money?

Nicholas Adams, 49, was jailed for two years for a £1.2 million VAT fraud. He used the illicit funds for a lavish lifestyle, including a £19,000 birthday party and luxury stays at The Savoy and Atlantis hotels. The fraud involved bogus tax returns over 19 months, generating £373,706 for Adams before HMRC intervened.

news.sky.com

🌐 85% Global Worthiness

Jul 18, 04:12

UK Loan Charge Scandal: Accountants' Role Under Scrutiny After 10 Suicides

The UK loan charge scandal involves thousands of individuals facing crippling tax bills after following the advice of accountants who placed them into tax avoidance schemes, resulting in at least 10 suicides and calls for a broader investigation.

UK Loan Charge Scandal: Accountants' Role Under Scrutiny After 10 Suicides

The UK loan charge scandal involves thousands of individuals facing crippling tax bills after following the advice of accountants who placed them into tax avoidance schemes, resulting in at least 10 suicides and calls for a broader investigation.

Progress

56% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

What are the immediate consequences and global implications of the UK loan charge scandal involving chartered accountants?

Thousands of individuals were financially devastated after following the advice of professional accountants who placed them into tax avoidance schemes. These schemes, later deemed unlawful by HMRC, resulted in crippling tax bills, sometimes exceeding £100,000, and have been linked to at least 10 suicides. The government has initiated an independent review, but its scope is limited.

theguardian.com

🌐 85% Global Worthiness

Jun 4, 22:13

£47 Million Lost in HMRC Phishing Scam

HM Revenue & Customs (HMRC) lost £47 million in a phishing scam targeting 100,000 PAYE accounts; however, no individual taxpayers lost money, and arrests were made in connection to the crime, which was deemed organized crime and not a cyberattack.

£47 Million Lost in HMRC Phishing Scam

HM Revenue & Customs (HMRC) lost £47 million in a phishing scam targeting 100,000 PAYE accounts; however, no individual taxpayers lost money, and arrests were made in connection to the crime, which was deemed organized crime and not a cyberattack.

Progress

36% Bias Score

ShareSaveArticle

Peace, Justice, and Strong Institutions

12345678

Previous 1 of 8 Next

What was the financial impact of the recent HMRC phishing scam, and what immediate actions were taken to mitigate further losses?

A phishing scam targeting 100,000 UK taxpayers cost HM Revenue & Customs (HMRC) £47 million. HMRC officials confirmed that no taxpayer suffered financial losses, but the incident highlights the scale of organized crime targeting personal data. The breach involved criminals using stolen information to access and claim repayments from PAYE accounts.

dailymail.co.uk

🌐 85% Global Worthiness

Mar 12, 16:14

UK Higher-Rate Taxpayers Surge Amidst Wage Growth and Threshold Freeze

The number of UK higher-rate taxpayers jumped 15.3% (680,000) to 5.1 million in 2022-2023 due to wage growth and frozen tax thresholds; additional-rate taxpayers rose 9.5% to 600,000, while basic-rate taxpayers increased by 2.9% (790,000).

UK Higher-Rate Taxpayers Surge Amidst Wage Growth and Threshold Freeze

The number of UK higher-rate taxpayers jumped 15.3% (680,000) to 5.1 million in 2022-2023 due to wage growth and frozen tax thresholds; additional-rate taxpayers rose 9.5% to 600,000, while basic-rate taxpayers increased by 2.9% (790,000).

Progress

44% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

How does the government's policy of freezing income tax thresholds contribute to the increase in higher-rate taxpayers?

This substantial rise exemplifies 'fiscal drag,' where inflation-driven wage increases push individuals into higher tax brackets despite no change in thresholds. The government's continued freeze on income tax thresholds until 2029, as announced in the Autumn Budget, will exacerbate this trend, with projections estimating 8.8 million higher-rate taxpayers by 2027/28.

Showing 1 to 12 of 22 results