17 h. ago Tories allowed almost £50billion of tax to go unpaid in their final year

Figures from HM Revenue & Customs (HMRC) revealed the colossal amount of tax it is estimated was due, but missed

Economics

17 h. ago HMRC has ‘lost control’ of small businesses as missing tax hits 40%

Smaller companies account for almost two-thirds of uncollected revenue

Events

17 h. ago Treasury 'poised to miss out on £250m in tax receipts from Rosebank oil development'

Campaigners have warned the economic case for approving the Rosebank oil field does not stack up

Economics

9 d. ago Put Thames Water into temporary state control, ‘junior’ creditors will argue

£5bn rescue plan would set ‘troubling precedent’, bondholders who face losing all of their money will sayNils Pratley: Thames Water’s creditors are being too greedyBusiness live – latest updatesThames Water should be placed into temporary government control to avoid setting a “deeply troubling precedent”, according to people close to bondholders who face losing all of their money in the latest rescue bid.The struggling utility is under the control of a group of lenders who hold the bulk of its huge £20bn debt pile. Those “senior” creditors on Tuesday revealed details of a last-ditch rescue effort with £5bn in funding, alongside writing off about £6.7bn in debt. Continue reading...

Politics

9 d. ago Put Thames Water into temporary state control, say ‘junior’ creditors

£5bn rescue plan would set ‘deeply troubling precedent’, say bondholders who face losing all of their moneyNils Pratley: Thames Water’s creditors are being too greedyBusiness live – latest updatesThames Water should be placed into temporary government control to avoid setting a “deeply troubling precedent”, according to bondholders who face losing all of their money in the latest rescue bid.The struggling utility is under the control of a group of lenders who hold the bulk of its huge £20bn debt pile. Those “senior” creditors on Tuesday revealed details of a last-ditch rescue effort with £5bn in funding, alongside writing off about £6.7bn in debt. Continue reading...

Politics

2 w. ago HMRC has lost £47m after hack breaches the accounts of 100,000 UK taxpayer

Two senior civil servants at HMRC told the Treasury Committee that 100,000 people are being contacted after the breach

Economics

2 w. ago HMRC has lost £47 million in breach of 100,000 taxpayer accounts, MPs hear

Taxpayers who are being contacted will suffer ‘no financial loss’, according to John-Paul Marks, the chief executive of HMRC.

Economics

4 w. ago Ministers said to be considering bill to wipe out British Steel’s debts

Chinese owner owed almost £1bn as government weighs up how best to attract buyer for Scunthorpe worksBusiness live – latest updatesMinisters are reportedly considering legislation to relieve British Steel of debts, which have risen to nearly £1bn, as the government considers how best to prepare the Scunthorpe steelworks for sale.The government took control of the business last month after it said that its Chinese owner, Jingye Steel, planned to close the plant within days. The effective takeover required emergency legislation passed in a historic recall of parliament. Continue reading...

Politics