Last year, HM Revenue and Customs (HMRC) paid out £508,500 to whistleblowers who reported their ex-spouses and former employers for tax fraud. This marks a 75% increase in payouts over the last five years, based on data obtained through a Freedom of Information request. HMRC encourages taxpayers to report individuals or businesses they suspect of …
Securing the top spot on the list of wealthiest individuals in the UK is Sir Jim Ratcliffe of Ineos, with a net worth of $17.6bn. Following closely behind is vacuum pioneer Sir James Dyson, with a fortune of $15.7bn. Originally from Moscow, Mr. Gerko obtained British citizenship in 2016 and has been a vocal critic …
In discussing the need for increased government revenue, she raised the question of why working people are always the ones asked to contribute more. She emphasized that she does not have any spending plans that would require raising £12 billion, so there is no need for a wealth tax or similar measures. She made it …
Chris Etherington, a tax specialist from RSM, has highlighted the need for HMRC to revamp its eligibility checks for the tax relief scheme for home workers. According to Etherington, many individuals who are currently claiming the relief may no longer qualify for it, resulting in a significant cost to taxpayers. He urges HMRC to urgently …
The Institute for Fiscal Studies (IFS) has outlined various issues with the current tax system, particularly regarding the taxation of wealth. According to the IFS, large capital gains, many of which are based on luck, have contributed to the rise in net household wealth and the growing gap between generations. The IFS believes that housing …
Last year, HM Revenue and Customs (HMRC) paid out £508,500 to informants who reported their ex-spouses and former employers for tax fraud. According to data obtained through a Freedom of Information request, the payouts to informants have increased by 75% over the last five years. HMRC encourages taxpayers to report individuals or businesses suspected of …
An estimated 11 million individuals are obligated to file a “self-assessment” income tax return if they have alternative sources of income or have done so in the past. However, the UK’s tax authority, HMRC, imposed fines on 92,000 individuals from the lowest income bracket for late tax return filings in 2020-21. Surprisingly, only 39,000 fines …
A letter was sent to HMRC by Ms Adjei, stating that she had been on a two-year secondment and returned in December 2019. She clarified that she was not self-employed but was employed under PAYE and responsible for all PAYE payments. Unfortunately, the person she entrusted with this responsibility did not handle it as expected, …
HMRC has defended its scheme, stating that there will never be a situation where a large number of staff will be volunteering at the same time. According to the organization, based on the 66,000 staff, the allocated 3,500 days equates to just 25 minutes per person per year. Compared to other government departments, HMRC’s policy …
The Public Accounts Committee, responsible for overseeing government expenditure, has previously criticized HMRC’s customer service levels, deeming them “unacceptable.” According to HMRC’s performance data, the average call waiting times at the tax office have more than tripled in the last year, increasing from five minutes 14 seconds in 2020-21 to 16 minutes 24 seconds. In …