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Stories published on May 8
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  • Stories published on May 8

Wednesday, May 8

15

Pensioners with side-hustles warned they could be landed with huge unexpected tax bill

www.express.co.uk

HMRC urges elderly people to declare any extra incomes to avoid falling foul of a crackdown on undeclared earnings

08

06

HMRC tax error could see people lose out on benefits - what you need to check

www.dailypost.co.uk

The Low Incomes Tax Reform Group (LITRG) has warned that certain low-income, self-employed workers could be affected by an error made by HMRC this year

Tuesday, May 7

19

Bipartisan Proposal Would Not Tax Staking Rewards Until Time of Sale

www.jdsupra.com

On Tuesday, April 30, 2024, U.S. Congressmen Drew Ferguson (R-GA) and Wiley Nickel (D-NC) introduced a bill, the Providing Tax Clarity for Digital Assets Act, to codify the U.S. federal income tax treatment of the acquisition by a taxpayer…

18

15

HMRC breaks silence to 'apologise' after tax error leaves thousands worse off

The Low Incomes Tax Reform Group (LITRG) warns that the error could strip self-employed workers of crucial National Insurance-related benefits like the state pension.

13

Rachel Reeves hints that people WILL pay more income tax if Labour wins the election as she refuses to commit to unfreezing

www.dailymail.co.uk

The shadow chancellor told an audience in the City of London that she wanted workers to pay less tax but that she would only act 'when resources allow'.

10

HMRC fine warning over tax payments in campaign targeting certain workers who may not be paying all the owe

The warning comes as thousands of letters from HMRC are being sent to people they believe might not be declaring all their income

02

Tax Preparer Sentenced After Filing 900+ False Income Tax Returns

smallbiztrends.com

Six years and 900 false income tax returns have resulted in a Chicago woman's sentence of 1 year and a day in prison for defrauding $1.3M.

Monday, May 6

00

Pa. Senate Republicans propose ‘historic’ tax cut to counter Democrats’ desire to spend more

triblive.com

Senate Republicans are proposing a historic tax cut for Pennsylvanians that includes taking the personal income tax back to 2003 levels and lower electric bills.

07

People on State Pension could boost income to £1,300 a month with tax-free top-up

More than a million people are missing out on the additional support they could get from Attendance Allowance, a tax-free benefit for older people

Sunday, May 5

16

Reclassifying Marijuana Could Unlock Billions in Tax Savings for Cannabis Companies

www.wsj.com

The proposed change could lift an income tax burden that wipes out most licensed marijuana retailers’ earnings.

13

Volcanic Ash: Income tax cut imperfect, but a welcome surprise

The Legislature’s significant income tax cuts were a pleasant relief to Hawaii residents struggling with our state’s steep cost of living in inflationary times, even if the benefits skewed a bit too much to those already well-off and left…

Saturday, May 4

23

UBA’s first quarter profits rise by 154% on the back of higher interest income

nairametrics.com

UBA released its unaudited financial results for Q1 2024 showing pre-tax profit grew by 154.74% year-on-year to 156.344 billion.

19

India News | Big Billionaires Got Tax Cuts from Modi Govt, Middle Classes Paying Higher Income Taxes: Congress

www.latestly.com

Get latest articles and stories on India at LatestLY. Big billionaires and corporations got tax cuts from the Modi government while the salaried and middle classes and workers pay ever-higher income taxes, the Congress alleged on Saturday.

17

India News | CBI Arrests Income Tax Official for Accepting Bribe of Rs 4 Lakh in Mumbai

www.latestly.com

Get latest articles and stories on India at LatestLY. As per the allegations, the accused had demanded an undue advantage of Rs 5.4 lakh from the complainant for issuing a lower TDS certificate in respect of the sale of a property of the…

08

IRS-FCT Gets Court Order To Seal Farm Over Tax Evasion

leadership.ng

An Abuja Magistrate Court has ordered that the premises of Almat Farms Limited in Kuje be sealed up by the Federal Capital Territory (FCT) Internal Revenue Service (IRS) over allegation of tax evasion. FCT-IRS accused Almat Farms Limited…

02

Pension savers warned of new tax-free lump sum cap

www.ft.com

Withdrawals of more than £268,275 will be treated as taxable income