Think your tax affairs are settled? Think again. Opinion If you think your tax affairs are settled with HMRC, you may need to think again – a small error from years ago could come back to haunt you, says Fiona Fernie HMRC have just issued a consultation called Modernising the Correction of Errors which includes a proposal that requires taxpayers who become aware of [...]
Gino D’Acampo restaurants face HMRC winding-up order Hospitality The company behind TV chef Gino D’Acampo’s restaurant empire has been hit with a winding-up petition by the UK tax authority. Upmarket Hotels & Leisure, which runs five British restaurants named after the former This Morning star, was served the petition by HMRC after a filing made to the High Court, as seen by City [...]
IHT receipts hit record high as Rachel Reeves’ frozen bands raid plague Brits Personal Finance Inheritance tax receipts soared to a record high in the three months to June 2026, as frozen thresholds drag more Brits into the net. Receipts hit £2.3bn over the period, according to the latest figures from HMRC, a £96m increase from the same period last year. In June alone inheritance tax (IHT) receipts totalled £871m [...]
Wimbledon: HMRC set to slap Sinner and Noskova with £1.6m tax bill July 13, 2026 Wimbledon winners Jannik Sinner and Linda Noskova have been slapped with whopping multi-million pound tax bills after bagging £3.6m apiece at the All England Club. Sinner defended his title with a four-set win over French Open champion Alexander Zverev on Sunday while Noskova toppled Czech compatriot Karolina Muchova in three sets on Saturday. Both picked [...]
HMRC claws back £1m cutting ties with outside tech suppliers July 5, 2026 HMRC has cut contractor costs by £1m a year after replacing a decades-old outsourcing model, as ministers face pressure to find £14bn of efficiency savings across Whitehall. Whitehall risks missing Labour’s £14bn efficiency savings target unless departments stop repeatedly buying the same digital expertise from outside suppliers, according to a British technology consultancy working across [...]
Thin end of the wedge? LLPs brace for major tax overhaul July 2, 2026 The maths genius behind trading firm XTX, Alex Gerko, stands high in the rankings of Britain’s top taxpayers, having paid more than £330m to HMRC last year. For good measure, he also handed out more than £150m to charities and good causes in 2025, focusing on education and supporting talented math graduates to pursue PhDs [...]
UK ‘no longer a serious place’ says Hedge fund boss after losing £200m tax battle July 1, 2026 Hedge fund Bluecrest Capital Management, founded by the UK’s wealthiest financier, said the UK is no longer “a serious contender” as a place to do business after it lost a £200m battle with the tax man, in a ruling that could now leave the wider hedge fund and professional services industries facing a hefty bill. The [...]
How onerous UK tax system can sting players at Wimbledon June 26, 2026 With the Wimbledon Championships set to begin on Monday, Pete Fairchild takes us through the (very) complex tax issues players face. At Wimbledon, while spectators sip on Pimm’s and eat strawberries, the world’s top tennis players are earning income on British soil. For stars such as Jannik Sinner and Carlos Alcaraz, competing in London means [...]
Reeves’ new tax charge on cash ISAs faces fierce industry backlash June 23, 2026 The Treasury has revealed plans for the UK’s new ISA regime, which will see it tax interest on cash held in stocks and shares ISAs at 22 per cent, prompting fierce backlash from industry figures, who argue that the decision is “riddled with unintended consequences”. HMRC updated the market on three rules that will create [...]
HMRC has been overtaxing pensioners for a decade- have you been affected? June 22, 2026 Two weeks ago it was revealed that HMRC has been overcharging millions of pensioners on their tax bill for at least a decade. The taxman had knowingly overcharged taxpayers in receipt of their state pension because of an error in how their income was calculated each year, increasing the bills of up to 8.7m pensioners [...]