School funding boost to reverse cuts

School funding boost to reverse cuts

Schools in England will receive £2.6bn extra next year under Chancellor Sajid Javid’s spending plans. This will be the first step towards reversing budget cuts and returning school funding to pre-austerity levels. The announcement follows last week’s unveiling of a three-year plan to boost school funding by £7.1bn by 2022-23 School leaders have raised concerns about relying on a funding plan that will take three years at a time of such political and economic volatility….

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HMRC Ramps Up Tax Evasion Investigations on Professional Service Companies

HMRC Ramps Up Tax Evasion Investigations on Professional Service Companies

HM Revenue and Customs (HMRC) has issued nearly 1,500 demands to professional service firms for more information on clients suspected of tax evasion, a law firm has found. The taxman issued 1,414 requests to accountants, lawyers and other professional services firms in the year up to 31 March last year forinformation on clients that it wants to investigate for suspected tax evasion,according to City law firm RPC. The requests, known as production orders, are issued…

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Levi Strauss shares surge on first day of Wall Street trading

Levi Strauss shares surge on first day of Wall Street trading

Shares in Levi Strauss were flying off the shelves as the blue jeans company made its return to the stock market. The price shot higher immediately Wall Street opened, and closed up 31.8%, valuing the company at $8.7bn (£6.7bn). The 166-year-old business, which struck gold when the founder patented the use of rivets in clothing, has about 5% of the global jeans market. Some money raised from the flotation will be used to broaden Levi’s…

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Lorraine Kelly wins £1.2 million tax battle over ITV work

Lorraine Kelly wins £1.2 million tax battle over ITV work

TV presenter Lorraine Kelly has won a £1.2 million battle with HMRC after a tax tribunal judge ruled she was not an ITV employee. Kelly, 59, was handed a bill made up of almost £900,000 in income tax and more than £300,000 in national insurance contributions in 2016. From 2012, she was contracted to present Daybreak and her Lorraine show on ITV through the company she runs with her husband. But HMRC argued she was…

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Lifeline for struggling businesses and sole traders yet to complete their tax returns

Lifeline for struggling businesses and sole traders yet to complete their tax returns

With the Self Assessment deadline less than a month away, a lifeline has been handed to struggling businesses and sole traders who are yet to complete their tax returns. Tax preparation specialist David Redfern, Managing Director of DSR Tax Claims Ltd, has issued his timely advice on claiming tax reliefs for loss making ventures, especially those businesses in their first years of trading. It is not uncommon for a newly-formed business to run at a…

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