Fraud offences rising
Fraud offences have risen by 25% over the last two years, totalling 4.5 million offences, reveals ONS study The Office for National Statistics (ONS) found that fraud and computer misuse offences have risen considerably since 2020, driven largely by ‘advance fee’ and ‘consumer and retail’ fraud. Overall fraud offences increased by 25% from 3.8m offences […]
HMRC Fraudster List
Market researchers, a PPE provider and a football manager all avoided tax bills totalling £17m the last quarter and face millions of pounds in fines from HMRC At the top of the list of deliberate tax defaulters was a PPE provider that racked up a multimillion pound tax bill during the early stages of the […]
Bounce back loan Fraudster caught
A Southampton based director was unable to explain fraudulent transactions totalling more than £1m in transactions and bounce back loans Marian Daniel Clipici, the sole director of Dahlial Limited, has been disqualified as a director for seven years after failing to keep adequate accounts while his business was trading, resulting in fraudulent transactions worth more […]
Chancellor confirms that he will cut national insurance by 1.25%
The Chancellor has confirmed that he will cut national insurance by 1.25% for employees and employers from 6 November Scrapping the rise will reduce tax for 920,000 businesses by nearly £10,000 on average next year as they will no longer pay a higher level of employer National Insurance and can now invest the money as […]
HMRC gets more powers
HMRC gets more powers: Tougher compliance checks and unexplained wealth orders mean that the authorities have more powers to crack down on economic crime and money laundering. Criminal barrister Mark Cotter KC explains Gang ringleader Abdullah Alfalasi was recently sentenced to almost 10 years in prison for using a network of couriers to smuggle money […]
Construction companies in Trouble
The number of UK construction companies at risk of closure has spiked 54% to 16,775 this quarter, up from 10,686, according to data from Mazars In the last quarter alone, 5,900 more construction businesses have been added to the ‘at significant risk of insolvency’ category, as detailed by Mazars, an international audit, tax and advisory […]
Carrying out a payroll health check
With many payroll teams working from home for well over a year there have been new challenges to embrace. But are you sure that all the legal formalities have been properly complied with? The new normal If you had said to many payroll teams in February 2020 that they would move to working remotely for […]
Bankrupt director caught red handed
A bankrupt banned from acting as a company director set up a new business and earned tens of thousands of pounds while creditors were left unpaid Daniel Ross Patchett from Kingsthorpe in Lincolnshire pleaded guilty at Lincoln Crown Court of acting in the management of a company while an undischarged bankrupt. He has been given […]
IR35 great news!!
Off-payroll repeal will not lead to a tax avoidance free-for-all. Dave Chaplin, CEO of IR35 Shield, explains On 23 September 2022, the Chancellor, Kwasi Kwarteng, revealed a swathe of tax changes with one considerable surprise – a repeal of the Off-payroll working (“OPW”) rules (Chapter 10 of ITEPA 2003), colloquially referred to as the “IR35 […]
