HMRC
HMRC Targets SMEs, But Ignores Corporate Tax-Dodgers
Restaurateurs and other small business owners are being targeted by HM Revenue & Customs (HMRC) as part of a national crackdown on tax evasion. Over the next few weeks, specialist tax inspection teams will pursue restaurants with intensive sting operations across London, Manchester, Liverpool, Cumbria and parts of and Scotland.
Read MorePremier League Boss Tries and Fails to Defend Football Insolvency Rules
Premier League head Richard Scudamore has attempted to defend the football creditors’ rule, following a lawsuit filed by Her Majesty’s Revenue and Customs (HMRC). HMRC, quite correctly, claim the rule on paying soccer creditors first is ‘unfair, unlawful and unacceptable.’
Read MoreDavid Cameron Paves Way for HMRC to Target PAYE and NIC Dodgers
From April 2012, HM Revenue and Customs (HMRC) will require a security from employers if they suspect National Insurance Contributions (NIC) and Pay As You Earn (PAYE) taxes will be unpaid. HMRC claims the new legislation, which includes a criminal offence for business owners that are asked to give security but fail to do so,…
Read MoreHMRC vs English Football: The Battle Rages On
English football clubs owed more than £22m in overdue tax to HM Revenue and Customs (HMRC) in 2010, according to figures released last week. Premier League clubs owed £8.6m, Championship clubs owed £6.4m and Football League clubs were indebted to HMRC for £7.4m. Dave Boyle, chief executive of campaign group Supporters Direct, believes the figures…
Read MoreSmall Business Owners Must Think Smart to Beat Inflation and VAT Increase
The findings of last week’s Bank of England review suggest interest rates are likely to rise over the next 12 months which is particularly concerning for small business owners, still reeling from the recent increase in VAT. Just weeks before the economic review, a study by Aldermore bank found almost 30% of small businesses will…
Read MorePremier League and HMRC Court Battle Set for 15 February
Next month, HMRC and the Football Association Premier League will battle in court over the taxman’s claim that the ‘football creditor rule’ is unlawful. Under the football creditor rule, when a club enters administration creditors such as players and managers are paid in full, whilst any remaining money is divided between unsecured creditors including HMRC. Football as…
Read More