Labour pledges to ...
In this week's In the Sheets:
Labour has pledged to close the ￡36bn tax gap by cracking down on the non-dom tax status loophole and bolstering HMRC's compliance squads.
The number of retail insolvencies in the UK has increased by 19%, with a total of 2,195 retailers collapsing in the year to January.
From the 6th of April, unpaid carers can ask for up to five extra days leave from their employer if they have a family member with a disability or long-term illness and are protected from dismissal for taking leave.
Tax News
Tens of thousands face crippling tax demands from HMRC
Tens of thousands of people across the country are facing crippling tax demands from HMRC for tax their employers did not pay. The Loan Charge policy, which came into force in 2017, targeted individuals who were paid their salaries through umbrella companies involved in tax avoidance schemes. Many of these individuals, including agency workers, were missold and had no idea they were being paid in loans. The Loan Charge legislation made individuals liable for tax that the employers should have paid, resulting in staggering sums and a devastating financial and psychological toll. Speaking to Sky News, one worker described overdosing after being overcome by the financial and mental burden. The consequences have been described as an unjust campaign that is targeting the wrong people and undermining taxpayer rights. MPs and tax lawyers are calling for the policy to be rescinded, arguing that it is retrospective and overrides statutory protections. HMRC continues to pursue individuals, while the promoters of the schemes often remain out of reach.
Employment
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New legislation on flexible working becomes law
New legislation has come into force that is designed to encourage more discussion about the possibility of flexible working between employers and their respective employees. Under the terms of the new Flexible Working bill, staff can request flexible arrangements from their very first day on the job – and research conducted among 1,000 UK desk workers by AI-powered platform for work, Slack, indicates that more than half (55%) of the UK workforce will request flexible working hours. Businesses are being advised to prepare themselves for an influx of requests. Chris Mills, Global Head of Customer Success at Slack, said: “The way we work, and employees’ expectations about work, have fundamentally changed over the past few years and flexibility is a key part of that. The research shows it’s an important consideration for people today, and the Flexible Working Bill has brought it back into focus for employees and management.”
Brainteaser ??
Can you make this equation correct using three of these four symbols?
? ? ?? ?
2 ?? 1 ?? 6 ?? 6 = 48
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