HMRC

Footballers face £250m bill over tax avoidance scheme

HM Revenue and Customs is investigating the tax affairs of 129 footballers as part of a crackdown on tax avoidance, The Mirror reports. The papers says that in total the players put £250m into the alleged tax avoidance scheme after consulting financial advisers Kingsbridge Financial, which went into liquidation in 2015. The scheme Kingsbridge recommended […]

Govt spending on pensions tax relief stabilises

The cost of pensions tax relief remains largely unchanged, according to annual estimates published by HM Revenue & Customs. The figures, published today, show the cost of pension tax relief rose slightly to £38.6bn in 2016/17 from £38.5bn in 2015/16. The new data show a contrast to 2015/16, where the cost of tax relief leaped by […]

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Scottish savers told to notify HMRC to get extra 1% tax relief

HM Revenue & Customs has published guidance on how new income tax bands in Scotland will affect pension schemes and their members. The note is a response to the Scottish Government’s confirmation it will introduce five income tax bands for 2018/19. Pension savers in Scotland currently receive pension tax relief at their marginal rate but […]