Abramovich's Tax Scheme Uncovered: £1bn at Stake

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Roman Abramovich, the Russian oligarch, is under the taxman's lens as documents suggest his companies may owe £1bn in unpaid taxes. The former Chelsea FC owner reportedly managed nearly half of his $6bn fortune through a complex offshore investment scheme routed through Cyprus and the British Virgin Islands. If key investment decisions were made in the UK, Abramovich's companies could owe more than £500m in tax, plus interest and penalties. HMRC should investigate, say experts.

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Roman Abramovich
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Chelsea FC

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Child Benefit Payments Suspended in Error

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Introduction to the Problem

The UK government's crackdown on alleged benefit fraud has led to a massive mistake, affecting many families in Northern Ireland.

Key Points

23,500 child benefit payments were suspended due to flawed data, including those who traveled via Dublin airport or took holidays in Europe and Australia.
HMRC has apologized and paused the suspension of child benefit payments, promising to cross-check data with PAYE records.
Affected families can call a dedicated number to reinstate payments without answering numerous questions.

Trump's New Appointments: Tariffs, Trade, and Taxes

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Trump's New Appointments: Tariffs, Trade, and Taxes
Donald Trump has made several key appointments, including Jamieson Greer as U.S. trade representative and Kevin Hassett as director of the White House National Economic Council.*

Greer, an attorney who served under Trump's previous trade representative, Robert Lighthizer, will be tasked with reining in the trade deficit and opening up export markets.*

Hassett, a Stanford economist who served as chair of the council of economic advisers during Trump’s first administration, will focus on renewing and improving the 2017 tax cuts and ensuring fair trade with other countries.*

Trump has also named Vince Haley as director of the Domestic Policy Council and John Phelan as navy secretary.*

Labour Warned Over Potential National Insurance Hike

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A potential rise in employer national insurance contributions could hurt businesses and limit pay rises, experts warn.

  • British employers are concerned about a possible increase in employer national insurance contributions.
  • The potential hike is part of Labour's plans to fill a £22bn hole in the public finances.
  • The hospitality sector, where staffing costs are the biggest business expense, would be particularly affected.
  • Labour's manifesto promised not to raise taxes on working people.
  • The Institute for Fiscal Studies says such a move would breach the manifesto.
  • The Confederation of British Industry and the British Chambers of Commerce also oppose the potential increase.

Starmer Refuses to Rule Out National Insurance Hike for Employers in Budget

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Labour's manifesto pledge not to raise national insurance on working people has left many wondering if employer contributions will be affected in the upcoming budget.
Business secretary Jonathan Reynolds has hinted that the pledge may not apply to employers' national insurance contributions (NICs),
Keir Starmer has refused to rule out raising NICs for employers in the budget,
Mel Stride, shadow work and pensions secretary, has said it would be an 'absurdity' for Labour to argue that raising employers' NICs was not a breach of their manifesto commitments,
The government has claimed there is a £22bn black hole in public finances that needs to be filled.

Will Labour raise employers' national insurance contributions in the budget?

Harris's Game-Changing Tax Proposal for Small Businesses

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Kamala Harris is shaking up the game for small businesses!** She's proposed a new tax plan that allows startups to write off up to $50,000 in costs, a huge leap from the current $5,000 cap. Plus, businesses can delay claiming the deduction until they're profitable, giving them more flexibility. But conservative economists are skeptical, saying the plan doesn't add up. What do YOU think?