Hundreds of thousands of young people in this country don't know they have a CTF, let alone how to access it. Some will have a couple of thousand pounds sat there that would really help them as they begin adult life.
This population [of contractors] had been unusually large to enable the provision of information and documents to the public inquiry, handle thousands of remediation claims and the development of systems to move off Horizon,
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Court documents show that Hauser & Wirth allegedly sold Popov the artwork between April 2022 and December 2022. The UK government made it illegal to provide luxury goods, including jewelry, art, cars, and antiques valued over £250 ($330), to Russia in March 2022, when it announced a ban on exports of high-end goods. The European Union also implemented a ban on luxury goods exports as part of its sanctions against Russia in the same month. These moves were the result of Russia invading Ukraine.
The tax collection department says that around 758,000 young adults have yet to claim their child trust funds, worth 2,240 on average. These funds are long-term, tax-free savings set up for every child born between 1 September 2002 and 2 January 2011. The government deposited 250 in each, with those in low-income families or in local authority care receiving an additional 250. Young people can take control of this account at 16 and withdraw funds when they turn 18.
HM Revenue & Customs has relaunched a controversial scheme giving it the power to take money directly from people's bank accounts - including cash Isas - if they repeatedly fail to pay their tax bills. Under the Direct Recovery of Debts (DRD) programme, banks and building societies will be forced to hand over cash owed to the taxman from anyone with debts of at least £1,000. Taxpayers will be allowed to keep a minimum balance of £5,000 to cover essentials,
A huge proportion of the tax gap is attributable to small businesses (60% or approx. £. Sole traders do not have to register with Companies House and it is likely that plenty fly under HMRC's radar. Even small businesses which are companies, although they need to be registered at Companies House, have significant exemptions in the level of detail that they are required to submit in terms of their accounts.
The recently published Finance Bill 2025-26 contains a number of proposals to target tax evasion. But in practice, these measures may prove to be ineffective.
HMRC's Wealthy and Mid-Size Business Compliance team is targeting 'rich' UK individuals, impacting business owners making £200k or owning properties worth £2m.
