Average household taxed £1m in a lifetime The average British household will pay more than £1m in tax over their lifetime, new Taxpayers Alliance research suggests, with the typical lifetime bill coming in at £1.1m. The study, which is based on Office for National Statistics data, found that average households are set to pay almost £180,000 in employer and employee National Insurance […] By Lisa Brownlow, 4 February 2022
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HMRC: Foreign firms responsible for almost a third of underpaid tax Foreign companies are responsible for almost a third of underpaid tax in the UK, according to HMRC data analysed by Pinsent Masons. The law firm found that foreign-owned firms are responsible for around 32% of the under paid tax by large businesses in the UK, accounting for £11.5bn of the £35.8bn that has gone unpaid. […] By Lisa Brownlow, 3 February 2022
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Bet365 boss tops the tax list again!! Denise Coates, the head of gaming business Bet365, has been named Britain’s biggest taxpayer for the third year running. Ms Coates and her family paid an estimated £481.7m in 2021, putting her at the top of the Sunday Times Tax List. A surge in the number of £100m-plus taxpayers has resulted in a £510m rise […] By Lisa Brownlow, 2 February 2022
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HMRC eyes stamp duty crackdown as buyers exploit loopholes The Government will look to close loopholes that mean some homeowners have been paying less stamp duty than they should. One of the loopholes sees buyers claim that part of the property or land is used for business, not for residential reasons, while another sees the property bought through an offshore company. The loopholes have […] By Lisa Brownlow, 31 January 2022
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Millions of self-employed people are still yet to file their self-assessment! HMRC is urging the four million self-employed workers who have not yet completed their self-assessment tax return to do so as soon as possible. With the 31 January deadline just days away, the tax watchdog has said that just 7.6 million people out of more than 12.2 million have submitted their annual self-assessment for the […] By Lisa Brownlow, 27 January 2022
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Statutory Sick Pay Rebate Scheme The Statutory Sick Pay Rebate Scheme (SSPRS) has been temporarily reintroduced to support employers facing heightened levels of sickness absence due to COVID-19. Small or medium-sized employers with under 250 employees may be eligible to claim Statutory Sick Pay (SSP) costs for up to two weeks per employee for COVID-19 related absences from 21 December […] By Lisa Brownlow, 26 January 2022
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