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The Latest Breaking News from HMRC

Mandelson-backed Bank of London reveals £42m in fresh funding days after winding-up petition

Clearing bank’s future was thrown into question by HMRC action over unpaid taxes last Thursday

The Guardian - UK

Billions lost from small retailers in tax evasion, says watchdog

National Audit Office says trail of tax debts left by small UK retailers is widespread and increasing every year

The Guardian - UK

Nadhim Zahawi sparks backlash after tweeting photo of homeless man in one of London’s richest areas

The former Tory chairman, who was sacked over an HMRC probe into his tax affairs, posted the picture alongside the caption: “This is now in Mayfair, just walked passed [sic]. what is going on?’

The Independent UK

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The Boy from Baghdad: From Waziriyah to Westminster by Nadhim Zahawi review – an unlikely journey

The disgraced ex-chancellor’s bullish memoir makes much of the obstacles he overcame to hold a number of ministerial posts, but how does he square his support for migrants with his presence in cabinets so hostile to refugees?

The Guardian - UK

Simple HMRC code promises parents up to £4k - but it has to be used this week

This little-known code could save you up to £4,000 per year on childcare, but you only have until Saturday to use it

GoodToKnow

From £40M Net Worth To Bankrupt And Still Splurging On Plastic Surgery: Where Did Katie Price's Money Go?

Once a household name with a net worth of £40 million, Katie Price has faced a sharp financial decline, marked by repeated bankruptcies, legal troubles, and the suspension of her TikTok income, all while she considers unconventional strategies to regain her lost fortune.

International Business Times UK

Parents of teens who have just taken their GCSEs urged to check child benefit status ahead of August deadline

With a child benefit deadline looming, some parents could see their payments reduced or stopped altogether - here's why

GoodToKnow

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A Jaffa Cake Musical and The Gummy Bears’ Great War: Edinburgh fringe stages battles with bite

A zesty courtroom drama about cakes (or biscuits?) and a combat epic using dozens of jelly teddies offer sweet and sour clashes at the festival

The Guardian - UK

Fake HMRC scam letters target small business owners in latest attack

An accountancy firm raised the alarm on social media warning others of the scam

The Independent UK

Caterer that paid up over mice in school kitchen returns to profit

ABM, owned by the billionaire Coates family, was also named and shamed for not paying staff the minimum wage

The Guardian - UK

Tory donor Lycamobile handed HMRC winding-up order amid tax dispute

Loss-making pay-as-you-go sim card seller had been embroiled in eight-year VAT battle

The Guardian - UK

'I should have paid more attention to my financial affairs' - Bradley Wiggins opens up about bankruptcy

Former Tour de France winner was declared bankrupt in June

Cycling Weekly

'I wasn't aware of this mess until I was deep into retirement' - Bradley Wiggins explains financial challenges that led to bankruptcy

Speaking on the WEDU podcast, Wiggins offers a candid insight into his financial situation and his financial oversight during his racing career

Cycling News

Katie Price Says She'll Become An Escort For Company, Not Sex, To Deal With £760K Bankruptcy

Katie Price has announced that she would consider becoming an escort for companionship, not sex, to address her financial issues following her £760,000 bankruptcy declaration.

International Business Times UK

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The Guardian - UK

Are the authorities powerless to stop Tommy Robinson’s online output?

New laws may make it easier to pursue far-right activist over alleged role in spreading disinformation

The Guardian - UK

‘Free money’: £4bn lost to fraud and error on flagship HMRC ‘innovation’ scheme

UK tax credits to promote research and development were claimed by a pub for changing its menus and by window cleaners for hanging their buckets

The Independent UK

House sales increased by 8% annually in June – HMRC figures

An estimated 91,370 transactions were made, which was 8% higher than June 2023 but slightly lower than in May, HM Revenue and Customs said.

Evening Standard

Katie Price's legal troubles explained: From DUI to bankruptcy and Heathrow Airport arrest

Price is battling a £760,000 unpaid tax bill after second bankruptcy declaration

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The Guardian - UK

Super-rich being advised how to avoid Labour tax clampdown, undercover investigation suggests

Revealed: Wealthy being pitched offshore products said to shelter fortunes from inheritance tax and capital gains tax

The Independent UK

Who is Nadhim Zahawi? Millionaire former Tory chancellor who has joined Reform

Born to a Kurdish family in Iraq, Nadhim Zahawi rose to prominence first as Boris Johnson’s vaccines minister

Evening Standard

Billionaire Gerko loses tax fight over quant trader payouts

One of the UK’s largest taxpayers, billionaire quant trader Alex Gerko lost a legal dispute with British authorities over the tax treatment of a deferred payment plan. Appeal judges ruled that Gerko and other traders, while they were still running high-frequency trading strategies at GSA Capital Partners between 2010 and…

The Guardian - UK

Parents saving up to £10,000 in nursery benefits may face unexpected tax bills

HMRC says several commercial schemes are exploiting tax exemption aimed at employers who provide nursery places

The Guardian - UK

HMRC withheld offshore tax avoidance figures for UK’s wealthy during election

Pressure on officials to publish estimate of offshore tax avoidance in almost £40bn of uncollected revenues

Evening Standard

When is Universal Credit paid next month? Payment dates for DWP benefits set to change

The DWP and HMRC have confirmed that those receiving certain benefits will receive their payments early — here’s why

The Independent UK

UK house sales tick up for fifth month in a row

An estimated 91,290 sales took place in May, which is 17% higher than in May 2023, HM Revenue and Customs said.

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