HSBC has alerted UK business banking customers to a data breach at a third-party platform exposing passport details and identity documents. Customers are urged to stay vigilant against fraud.
Category: Money & Tax for the Self-Employed
Everything you need to manage money and tax as a freelancer or sole trader – from self-assessment to invoicing and cashflow.
Reeves’ rumoured pension raid spurs expats to shift billions abroad
Fears of a pensions tax raid in Rachel Reeves’ November Budget are pushing British expats to move retirement savings abroad, with Malta emerging as a safe haven.
Rayner and footballers’ tax troubles are a ‘wake-up call’, adviser warns
The separate tax controversies involving Premier League footballers and former deputy prime minister Angela Rayner should serve as a “wake-up call” about the importance of taking sound, professional advice, a senior tax expert has warned.
AI profiling of social media will boost HMRC’s tax compliance, say advisers
Blick Rothenberg says HMRC’s use of AI through its CONNECT system, which has already recovered over £3bn in unpaid tax, will be strengthened by profiling people’s social media activity.
HMRC scores tax windfall from Lionesses’ Euro 2025 prize money
The Lionesses’ Euro 2025 win is expected to deliver HMRC a £788,900 tax windfall, with players facing a 47% marginal tax rate on bonuses, according to Blick Rothenberg.
Taxpayers who haven’t settled their bill with HMRC must pay by 31st July or face fines and interest
HMRC warns taxpayers to settle their bills by 31st July or risk 8.25% late payment interest and penalties. Payments on account apply to many self-employed and high-income earners.
Families face red tape nightmare with inheritance tax on pensions from 2027
From April 2027, pensions will be included in inheritance tax calculations, raising £1.46bn annually but sparking backlash over added bureaucracy and burden on bereaved families.
Inheritance tax haul hits £2.2bn in just three months amid rising property prices and frozen thresholds
HM Revenue and Customs (HMRC) collected a staggering £2.2 billion in inheritance tax (IHT) in the first three months of the current tax year, new data released this morning reveals—£100 million more than the same period last year.
New ‘buy now, pay later’ affordability checks may cover even smallest loans under FCA proposals
FCA proposes new rules requiring affordability checks on even the smallest ‘buy now, pay later’ loans, aiming to protect vulnerable borrowers as the market hits £13bn.
Wimbledon winners face £1m UK tax bills despite non-resident status
Wimbledon winners Jannik Sinner and Iga Swiatek face UK tax bills exceeding £1 million each, despite being non-residents, due to HMRC rules on sports earnings and image rights.
Reeves to cut cash ISA allowance in push to revive UK capital markets
Chancellor Rachel Reeves is expected to cut the cash ISA allowance to encourage investment in UK equities, prompting backlash from savings providers and finance experts.
FCA to allow millions free financial support in major policy shift
Millions of consumers will be offered free, tailored financial support from banks and pension providers under sweeping new proposals from the City regulator, in a bid to steer people away from risky online advice and poor money decisions.
Sweet or taxable? M&S strawberry sandwich sparks new VAT debate
Marks & Spencer’s new strawberry and cream sandwich has captured attention on social media — but now it’s caught the eye of tax experts, too.
Inheritance‑tax take hits £1.5bn in two months as flight of non‑doms casts doubt on future revenues
Inheritance‑tax receipts reached £1.5 billion in April and May, the first two months of the 2025‑26 tax year, HM Revenue & Customs revealed on Thursday.
Rachel Reeves reconsiders non-dom tax changes to halt exodus of wealthy individuals
Chancellor Rachel Reeves is considering softening Labour’s flagship plans to scrap the non-domiciled tax regime, amid rising concern over the growing exodus of wealthy individuals and business leaders from the UK.
