Businesses are suffering financial losses from faulty AI advice January 6, 2026 Half of UK accountants and bookkeepers have said businesses have suffered financial losses due to AI slop that has caused ‘avoidable mistakes’ in the books. New research by Dext found that nearly a third (31 per cent) of accountants and bookkeepers encounter client mistakes on a weekly basis, caused by wrong or misleading AI-generated financial [...]
Fiscal drag to push thousands of families into child benefit tax charge January 6, 2026 The Chancellor’s decision to freeze tax thresholds will leave thousands of families forced to pay High Income Child Benefit Charge, eroding the value of government support. According to official HMRC forecasts, uncovered in a freedom of information request by Quilter, fiscal drag will force 35,000 more families into paying the charge, jumping from 324,000 in [...]
Tax crackdown in 2026: Why experts predict a wave of enforcement actions December 30, 2025 Under the Labour government, HMRC has shifted from a reactive to a highly proactive stance, and tax experts expect increased tax enforcement in the new year. The government has committed to invest an additional £555m annually in HMRC to boost tax compliance and transform its technology. The investment aims to raise an extra £5.1bn in [...]
Decluttering after Christmas? Tax expert clarifies rules for selling unwanted gifts on eBay and Vinted December 23, 2025 Not everyone is thrilled with their Christmas haul, after all, there are only so many novelty socks, scented candles, and mystery kitchen gadgets one household can handle before space starts to run out. Usually, as a result, apps like Vinted see a surge in activity around Christmas, with sellers hoping to offload unwanted gifts. [...]
HSBC chair poured cash into failed tax avoidance investment scheme December 18, 2025 The new chair of HSBC lost money in a tax-avoiding investment scheme that ultimately collapsed, City PM can reveal. Brendon Nelson became a partner and investor in a biofuel exploration business called Future Fuels, itself part of a wider scheme called Elysian Fuels which was operated by Future Capital Partners. The unregulated investment scheme was [...]
Rugby league woes as Oldham RLFC faces winding-up by HMRC December 17, 2025 Oldham RLFC, a club in rugby league’s Championship, was hit with formal legal action by the British tax authority this week, City PM can reveal. In the High Court system, HMRC filed a winding-up petition against Oldham Rugby League Football Club 1876 (Oldham RLFC) on Tuesday. A winding-up petition is a formal notice by a [...]
Fowl play: Morrisons loses £17m VAT battle over rotisserie chickens December 16, 2025 Supermarket giant Morrisons faces a £17m tax bill after the First-Tier Tax Tribunal threw out its dispute over VAT on cool-down rotisserie chickens. The dispute arose from George Osborne’s controversial 2012 Finance Act changes that sought to clarify the VAT treatment of hot takeaway food, famously known as the “pasty tax” debacle. Morrisons tried to [...]
Salary sacrifice: Millions of pension savers impacted by overhaul December 5, 2025 Millions of UK pension savers are set to be hit by salary sacrifice changes unveiled in the Budget, according to new figures. According to figures published by HM Revenue and Customs (HMRC), an estimated 7.7m employees use salary sacrifice to make pension contributions. This means employees effectively take a pay cut in exchange for higher [...]
Rugby league club Salford Red Devils liquidated after 150 years December 3, 2025 Super League club Salford Red Devils have been liquidated, ending the club’s 152-year existence, amid debts of £4m. The club was wound up at a hearing at the Insolvency and Companies Court of the Royal Court of Justice in London on Wednesday morning after four adjournments at previous hearings. Salford Red Devils were taken over [...]
Budget crackdown on football image rights ‘incredible’, say tax experts November 27, 2025 Chancellor Rachel Reeves has been accused of disproportionately targeting football for tax rises after the Budget laid out plans for a raid on image rights earnings. Top footballers benefit from setting up image rights companies which are taxed at a lower rate than their salaries, but the government says it will legislate “to ensure that [...]
