HMRC Error Charges Taxpayer £450 Monthly for Stranger's Job
A Lancashire resident faces £450 monthly extra tax after HMRC mistakenly linked another person's employment to their NI number, revealing sensitive payroll details.
Category : City Finance
BoE's Breeden: UK Risks Lagging on Payments Innovation
Bank of England deputy governor Sarah Breeden warns that rival nations like Sweden and Brazil have overtaken the UK in payments innovation, calling for urgent development of next-generation systems including a digital pound.
UK's Biggest Taxpayers: Betfred Brothers Top List
The Sunday Times Tax List reveals the UK's highest contributors, with Betfred's founders paying £400m. Celebrities like Harry Styles and Erling Haaland also feature prominently.
UK Top 100 Taxpayers: Betfred Brothers Lead £5.7bn List
The Sunday Times Tax List 2026 reveals the UK's top 100 taxpayers, with Betfred's billionaire brothers paying £400.1m. Harry Styles, Erling Haaland, and JK Rowling feature in the record £5.7bn total contributions.
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UK's Top Taxpayers Revealed: Betfred Brothers Lead List
Betfred founders Fred and Peter Done paid over £400m in tax, topping The Sunday Times' list. Analysis shows the wealthiest contributed £5.6bn amid Labour's tax reforms targeting high earners.
NY Officials Warned on Israeli Bond Investments
A human rights group has cautioned New York state and city officials that investing public funds in Israeli bonds may breach international law and fiduciary duties, exposing them to significant legal and financial risks.
Islington Council Promises Green Space Covering Emirates 5 Times
Islington Council's finance chief pledges new green space equivalent to five Emirates Stadiums while defending budget cuts to back office and children's services.
Bank of England 'Woke' Row Over ESG Banknote Printer
The Bank of England faces political backlash for requiring its new banknote printer to meet strict ESG, diversity and carbon reduction standards in a £900m contract tender.
High Court Urgent Hearing on Labour Inheritance Tax
The High Court has approved an urgent hearing challenging Labour's inheritance tax reforms affecting farmers and family businesses, with claimants arguing the consultation process was unlawful.
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Banks Push Back BoE Rate Cut Predictions Amid Inflation
Major banks revise Bank of England interest rate cut forecasts from February to March as inflation data surprises, with economists divided on 2026 monetary policy path.
Very Deep Poverty at 30-Year High in UK
The Joseph Rowntree Foundation reports 6.8 million people in the UK are living in very deep poverty, the highest level in over three decades.
Pubs and Music Venues Get Business Rates Relief
The Treasury announces temporary business rates relief for pubs and music venues in England and Wales, sparking criticism from other sectors facing rising costs.
HMRC Penalty Points System for Late Tax Returns
HMRC introduces a penalty points system replacing automatic fines for missed self-assessment deadlines, starting with a trial for 100 taxpayers under Making Tax Digital.
BoE Warns of Urgent Need to Strengthen Non-Bank Finance
Andrew Bailey highlights vulnerabilities in market-based finance sector including hedge funds and private credit, calling for enhanced resilience measures amid growing regulatory concerns.
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Reeves May Return to Business Rates in Autumn Budget
Chancellor Rachel Reeves' U-turn on pub rates fails to resolve wider hospitality sector crisis, with warnings of closures and job losses mounting ahead of autumn budget.
HMRC Alert: 3.3M Taxpayers Risk £100 Fine
HMRC warns 3.3 million self-assessment taxpayers to submit returns by Saturday's deadline or face automatic £100 fines and escalating penalties.
Reeves' £300m Pub Support Excludes Hotels, Restaurants
Chancellor Rachel Reeves announces £300m support for pubs facing business rate hikes, but hotels and restaurants miss out, sparking industry backlash.
Mystery of UK's Digital Gilt Contract Unfolds
An investigation into the UK's digital gilt contract reveals a complex financial puzzle, raising questions about transparency and future implications for the bond market.
Reeves Warned of City's 'Critical Juncture' by Report
Rachel Reeves faces warnings that London's financial sector lags behind economic growth, with a report urging tax and regulatory reforms to prevent decline.
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Tax-Saving Tips for High Earners Nearing Additional Rate
Expert advice for higher rate taxpayers approaching the additional rate threshold on where to save money without facing substantial tax bills, covering pensions, venture capital, gilts, and family options.
HMRC Fines: 6 in 10 Appeals Succeed
Over 62% of HMRC penalty appeals are won by taxpayers, with experts urging those with valid grounds to challenge fines, especially around the self-assessment deadline.
UK Finance Unprepared for AI Risks, Report Warns
A Treasury Committee report warns UK financial services lack guardrails against AI failures, urging regulators to act. Read the urgent call for stress tests and accountability.
ATO's $42.8m debt collector pays zero corporate tax
A private firm awarded $42.8m in ATO contracts to chase unpaid taxes has paid zero corporate tax itself. Plus: hate speech laws set to pass and Trump's Greenland threats.
High Earners Could Lose £250k in Pension Tax Relief
Wealth managers warn UK high earners are missing out on thousands in pension tax relief and free childcare by not filing self-assessment returns. Claim back up to four years.
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London's Davos Message: Global Finance Leadership
As Chris Hayward heads to Davos, the City of London showcases its strength in green finance, AI, and economic contribution, underpinning the UK's role as a top global financial centre. Discover the key initiatives.
London's income gap grows to £76,000, ONS data reveals
New ONS figures expose a stark 84% growth in London's income inequality over three years. Discover the capital's richest and poorest postcodes and the dramatic divides in your area.
HMRC tax rebate delays exceed a year for some
Taxpayers face waits of over a year for HMRC refunds, with some forced to borrow cash. The ICAEW cites 'significant backlogs'. Discover if you're affected.
100 UK Bank Branches to Close in 2026, Map Shows
An interactive map reveals 100 UK bank branches closing in 2026, including three in London. See if your local Lloyds, Halifax, or Santander is affected.
SFO raids in £300m Home REIT fraud and bribery probe
The Serious Fraud Office has launched raids and made arrests in a major investigation into suspected fraud and bribery at social housing firm Home REIT. Read the latest.
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Reeves confirms 'temporary support' for UK pubs
Rachel Reeves announces new aid for pubs hit by soaring business rates, amid a row over Treasury warnings. Discover the details of the climbdown and what it means for landlords.
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