HMRC is reclassifying more sweet products as confectionery under VAT rules, hitting producers, wholesalers and retailers with 20% tax liabilities. Here’s what it means for UK food businesses.
Category: Finance
Financial advice for owners and managers of small and medium sized business SMEs in the UK All your tax, borrowing and administration advice
Treasury weighs stamp duty holiday for new London share listings in autumn budget
The Treasury is weighing plans to grant newly listed companies a stamp duty exemption in November’s autumn budget, as ministers look to revive London’s competitiveness as a global IPO hub.
HSBC warns UK business banking customers of third-party data breach
HSBC has alerted UK business banking customers to a data breach at a third-party platform exposing passport details and identity documents. Customers are urged to stay vigilant against fraud.
Double HMRC deadlines this October could hit taxpayers with £100 instant fines
HMRC warns of two critical tax deadlines in October — miss them and you could face an immediate £100 penalty, with fines escalating to £1,600 for late filing.
Reeves’ rumoured pension raid spurs expats to shift billions abroad
Fears of a pensions tax raid in Rachel Reeves’ November Budget are pushing British expats to move retirement savings abroad, with Malta emerging as a safe haven.
Oscars, Warhols and whisky: inside the weird world of luxury asset lending
Suros Capital is lending against Oscars, Banksys, whisky and Rolexes. Inside the weird and booming world of luxury asset finance.
HMRC handed ‘draconian’ new powers to raid bank accounts and Isas of tax dodgers
HMRC can now raid bank accounts and Isas to recover unpaid taxes over £1,000 after Reeves revived its controversial debt recovery powers.
UK women risk losing £93,000 in lifetime earnings due to gender pay gap
New research shows women in the UK risk missing out on £93,000 in lifetime earnings due to the gender pay gap, with disparities widening most between ages 30–59.
Contactless payments could go unlimited
The FCA is consulting on proposals to let banks scrap the £100 contactless card limit, bringing cards in line with unlimited mobile wallet payments.
Rayner and footballers’ tax troubles are a ‘wake-up call’, adviser warns
The separate tax controversies involving Premier League footballers and former deputy prime minister Angela Rayner should serve as a “wake-up call” about the importance of taking sound, professional advice, a senior tax expert has warned.
CGT changes at a glance: what investors need to know about the new rules
For anyone filing a 2024–25 tax return, here is a comprehensive guide to the new rules, the key numbers, and what it means for your finances.
Government looks at applying National Insurance to rental income in Autumn Budget
The Government is weighing a major shake-up of landlord taxation that could see National Insurance contributions applied to rental income for the first time.
AI profiling of social media will boost HMRC’s tax compliance, say advisers
Blick Rothenberg says HMRC’s use of AI through its CONNECT system, which has already recovered over £3bn in unpaid tax, will be strengthened by profiling people’s social media activity.
HMRC admits using AI to monitor taxpayers’ social media
HMRC has confirmed for the first time it uses AI to monitor social media in criminal tax probes, prompting MPs to warn of risks to privacy and potential “Horizon-type” errors.
£105m in Premium Bond prizes unclaimed – including 11 jackpots worth £100,000
More than £105 million in Premium Bond prizes remain unclaimed, including 11 worth £100,000. NS&I urges savers to check their contact details and trace old bonds.
