A report by MPs from the
Committee has said that between £400m and £500m is held in dormant bank and
building society accounts in Britain.
MPs recommended that the government make it compulsory for banks to
participate in a scheme to use the unclaimed assets to fund social causes.
The government has proposed setting up a scheme to use the unclaimed assets
to fund social investment. A key beneficiary would be youth services such as
sports facilities, youth clubs and dance and drama venues.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy
A senior MP has questioned the impact of HMRC’s decision to undertake yet another radical overhaul of its internal structure
The Apple Tax situation; Accountants replaced by robots; and The Accountancy Age Top 50+50; all discussed by head of editorial Kevin Reed