This follows a Revenue investigation which aims to put an end to the widespread practice in the restaurant industry where chefs are paid money by food suppliers to secure business.
The investigation is centred around the South-East at present where hundreds of chefs are believed to be under investigation, while as many as 40 may face inquiry from the Revenue’s special compliance office, which only looks at cases where more than £100,000 in tax is owed, according to the FT.
The practice of backhander payments became known to the Revenue after irregularities were discovered in the accounts of a collapsed food supplier.
Richard Le Tocq, head of Locate Guernsey, discusses the chancellor’s approach to high net worth individuals, and why relocation is increasingly attractive to HNWIs
The firm says that the U-turn 'does not alter the need for a fundamental review of the way we tax work' and that the current tax system is in need of reform
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals