HM Revenue and Customs

HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Berkeley Lights (BLI) Investors with Significant Loss to Contact Firm’s Attorneys Now, Firm Investigating Possible Securities Law Violations

Monday, September 20, 2021 - 6:03pm

SAN FRANCISCO, Sept. 20, 2021 (GLOBE NEWSWIRE) -- Hagens Berman urges Berkeley Lights, Inc. (NASDAQ: BLI) investors with significant losses to submit your losses now .

Key Points: 
  • SAN FRANCISCO, Sept. 20, 2021 (GLOBE NEWSWIRE) -- Hagens Berman urges Berkeley Lights, Inc. (NASDAQ: BLI) investors with significant losses to submit your losses now .
  • Were focused on investors losses and whether Berkeley Lights misrepresented the commercial viability of the Beacon, said Reed Kathrein, the Hagens Berman partner leading the investigation.
  • If you invested in Berkeley Lights, or have knowledge that may assist the firms investigation, click here to discuss your legal rights with Hagens Berman .
  • Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys.

HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Berkeley Lights (BLI) Investors with Significant Loss to Contact Firm’s Attorneys Now, Firm Investigating Possible Securities Law Violations

Thursday, September 16, 2021 - 12:08am

Were focused on investors losses and whether Berkeley Lights misrepresented the commercial viability of the Beacon, said Reed Kathrein, the Hagens Berman partner leading the investigation.

Key Points: 
  • Were focused on investors losses and whether Berkeley Lights misrepresented the commercial viability of the Beacon, said Reed Kathrein, the Hagens Berman partner leading the investigation.
  • If you invested in Berkeley Lights, or have knowledge that may assist the firms investigation, click here to discuss your legal rights with Hagens Berman .
  • Whistleblowers: Persons with non-public information regarding Berkeley Lights should consider their options to help in the investigation or take advantage of the SEC Whistleblower program.
  • Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys.

Superdry plc: Director/PDMR Shareholding

Wednesday, September 15, 2021 - 10:08am

Dissemination of a Regulatory Announcement, transmitted by EQS Group.

Key Points: 
  • Dissemination of a Regulatory Announcement, transmitted by EQS Group.
  • The issuer is solely responsible for the content of this announcement.
  • On 13 September 2021, the following transactions by PDMRs took place in relation to Superdry's Share Incentive Plan ('SIP').
  • The SIP is an all-employee trust arrangement approved by HM Revenue and Customs, under which employees are able to buy shares in the Company of 5 pence each ('Ordinary Shares'), using deductions from salary in each calendar month ('Partnership Shares'), and receive allocations of matching free Ordinary Shares ('Matching Shares').

Superdry plc: Director/PDMR Shareholding

Tuesday, August 17, 2021 - 1:08am

Dissemination of a Regulatory Announcement, transmitted by EQS Group.

Key Points: 
  • Dissemination of a Regulatory Announcement, transmitted by EQS Group.
  • The issuer is solely responsible for the content of this announcement.
  • On 13 August 2021, the following transactions by PDMRs took place in relation to Superdry's Share Incentive Plan ('SIP').
  • The SIP is an all-employee trust arrangement approved by HM Revenue and Customs, under which employees are able to buy shares in the Company of 5 pence each ('Ordinary Shares'), using deductions from salary in each calendar month ('Partnership Shares'), and receive allocations of matching free Ordinary Shares ('Matching Shares').

Pega Helps HMRC to Mitigate Risk for UK Government's COVID-19 Support Initiatives

Wednesday, October 14, 2020 - 2:00pm

, (NASDAQ: PEGA), the software company empowering digital transformation at the world's leading enterprises, has announced that it has been working with Her Majesty's Revenue and Customs (HMRC) to support the UK government's COVID-19 initiatives by helping it to mitigate against fraud and risk with businesses and individuals applying for support.

Key Points: 
  • , (NASDAQ: PEGA), the software company empowering digital transformation at the world's leading enterprises, has announced that it has been working with Her Majesty's Revenue and Customs (HMRC) to support the UK government's COVID-19 initiatives by helping it to mitigate against fraud and risk with businesses and individuals applying for support.
  • The department was already using Pega Intelligent Automation case management solutions for 18 years to assist with customer service, fraud investigation, customs, and legal.
  • This included the department's Caseflow application, which helps with compliance and enforcement of risk management and assessment relating to potential tax avoidance, fraud, and insufficient tax payment.
  • With support from Coforge , a Pega platinum partner, Pega extended the department's existing Caseflow application to mitigate against potential risk around each of the four COVID-19 plans.

Rebate Gateway: Thousands of Financial Compensation Claims made after April 2016 entitled to additional refund

Monday, August 24, 2020 - 10:00am

PPI compensation is calculated by the banks and is split into two parts: (1) return of the money paid in insurance premiums and (2) statutory interest.

Key Points: 
  • PPI compensation is calculated by the banks and is split into two parts: (1) return of the money paid in insurance premiums and (2) statutory interest.
  • Statutory interest is classed as an income by HMRC and is therefore taxed at a Basic Rate.
  • Rebate Gateway Limited (RGL) have assisted thousands of consumers obtain a tax rebate on Financial Mis-selling Compensation as well as for unclaimed Marriage Allowance and Work-place Expenses.
  • Once the rebate has been requested from HMRC, clients can expect a rebate within 8 weeks."

Legal and adminstrative bodies give evidence on off-payroll proposals

Tuesday, March 3, 2020 - 12:03am

Should the responsibility, as previously considered by the OTS, for applying the rules be switched to the client?

Key Points: 
  • Should the responsibility, as previously considered by the OTS, for applying the rules be switched to the client?
  • Will the new rules shift costs from HMRC to large- and medium-sized businesses?
  • Do you agree with the HM Treasurys claim that these rules will ensure fairness between employees and people working through Personal Service Companies?
  • Questions for the second panel will include:
    What lessons can be learnt from litigation on the IR35 rules?

Legal and adminstrative bodies give evidence on off-payroll proposals

Tuesday, March 3, 2020 - 12:02am

Should the responsibility, as previously considered by the OTS, for applying the rules be switched to the client?

Key Points: 
  • Should the responsibility, as previously considered by the OTS, for applying the rules be switched to the client?
  • Will the new rules shift costs from HMRC to large- and medium-sized businesses?
  • Do you agree with the HM Treasurys claim that these rules will ensure fairness between employees and people working through Personal Service Companies?
  • Questions for the second panel will include:
    What lessons can be learnt from litigation on the IR35 rules?

Insolvency: joint and several liability notices for directors

Thursday, February 6, 2020 - 12:04am

Draft legislation for the Finance Bill (expected in spring 2020), together with Explanatory Notes were published on 11 July 2019.

Key Points: 
  • Draft legislation for the Finance Bill (expected in spring 2020), together with Explanatory Notes were published on 11 July 2019.
  • As currently drafted, the new provisions would empower HMRC to issue joint and several liability notices (JSL notices) to individuals when certain conditions relating to tax avoidance and insolvency are met, as well as to companies which have been involved with repeated insolvency or non-payment of tax.
  • This Commons briefing paper provides an overview of the background to, and the main provisions of, this new regime.
  • There is a separate Library briefing paper on Phoenix trading and liability of directors (CBP4083) which may also be of interest.

The 2019 Loan Charge

Wednesday, February 5, 2020 - 12:04am

With the House’s approval of the necessary legislation for the General Election for 12 December, Treasury Minister Jesse Norman wrote to Sir Amyas to confirm that “ministers have agreed that it would be most appropriate for your report to be submitted to the new Government on its formation.”[22] Sir Amyas’ report was published on 20 December, making a long series of recommendations with major implications for those affected.[23] The Government has accepted all but one of these; a summary was given in a press notice alongside the Government’s detailed response:Following the Review the Government will;

Key Points: 
  • With the House’s approval of the necessary legislation for the General Election for 12 December, Treasury Minister Jesse Norman wrote to Sir Amyas to confirm that “ministers have agreed that it would be most appropriate for your report to be submitted to the new Government on its formation.”[22] Sir Amyas’ report was published on 20 December, making a long series of recommendations with major implications for those affected.[23] The Government has accepted all but one of these; a summary was given in a press notice alongside the Government’s detailed response:
    • Following the Review the Government will;
    • make changes so that the Loan Charge will now only apply to loans taken out on or after 9 December 2010. The Review found that legislation announced in 2010 removed any doubt that tax was due
    • not apply the Loan Charge to users of loan schemes between 9 December 2010 and 5 April 2016 who fully disclosed their schemes on their tax return and where HMRC failed to take action
    • allow users to defer filing their returns and paying their Loan Charge liability until September 2020
    • allow taxpayers to split the loan balance over three tax years to make bills more affordable
    • invest in a new HMRC team to collect tax from those who used the avoidance schemes pre-2010.[24]
    • In the 2016 Budget the Government announced the introduction of the Loan Charge - a major initiative to tackle the mass marketing of tax avoidance loan schemes.
    • In December 2019 the Government announced a series of reforms to the Loan Charge, following the recommendations of an independent review, chaired by Sir Amyas Morse.
    • In the 2016 Budget the Government announced the introduction of the Loan Charge - a major initiative to tackle the mass marketing of tax avoidance loan schemes.
    • [6] HMRC has estimated that 50,000 individuals, and around 10,000 companies used these schemes and are potentially covered by the Loan Charge.
    • The Loan Charge applies to the outstanding balance of DR loans on 5 April 2019 that were made over the previous 20 years that is, after 5 April 1999.
    • [10] HMRC estimate about 250 different loan schemes are covered by the Loan Charge.
    • [11] The Loan Charge stacks loans that the taxpayer has received, so that they are liable to pay a single charge based on the value of all outstanding loans.
    • [16] The review also restated the Governments position on whether the Loan Charge was retrospective legislation: "The charge on DR loans applies a tax charge to outstanding loan balances at 5 April 2019.
    • [18] In December 2019 the Government announced a series of reforms to the Loan Charge, following the recommendations of an independent review, chaired by Sir Amyas Morse.
    • [21] Although the Loan Charge was intended to shut down loan schemes, the Review had found scheme usage continues to be extensive in the 2019/20 tax year to date, with over 8,000 individuals having entered into loan schemes between April and October 2019.
    • [27]It is estimated that the changes to be made to the Charge will benefit more than 30,000 individuals: "An estimated 11,000 individuals will be removed from the loan charge due to the date the loan charge applies from being changed to 2010 and the provisions for those who have made reasonable disclosures.
    • An estimated 21,000 individuals will see the amount of tax they owe under the loan charge reduce as a result of the proposals to allow customers to split their loan balance over 3 years Initial analysis suggests that moving the date the loan charge applies from to 2010, together with the provisions for those who have made reasonable disclosures, would remove an estimated 1,000 employers.
    • It concludes by looking at developments following the introduction of the Charge in April 2019, and the series of changes the Government announced in December 2019 in response to the Independent Review.