Will Drysdale

London, United Kingdom

Reporter at Accountancy Daily

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Articles

£36k tax bill bankrupts former West Ham footballer

2 weeks ago | accountancydaily.co | Will Drysdale

After failing to appear before the court to pay the tax bill or declare he did not have the means to pay, a former footballer and pundit has been issued a bankruptcy orderA £36,424 tax debt that cannot be paid by former England, West Ham and Manchester City footballer, Trevor Sinclair, 51, has forced the sports pundit into bankruptcy. On Thursday 12 June, Sinclair was made bankrupt after a High Court judge ruled he did not have the money to pay the debt.
Water companies banned from paying ‘unfair’ director bonuses

2 weeks ago | accountancydaily.co | Will Drysdale

Ofwat has been given the power to ban six water companies from paying excessive bonuses after they shelled out £3.5m in a single year to top managementThis Department for Environment, Food & Rural Affairs (DEFRA) has granted Ofwat the power to ban bonuses from being paid to CEOs and chief financial officers (CFOs) at water companies. Ofwat will also be able to claw back the bonuses if water companies fail to comply with a new set of requirements on bonus payments.
Walkers loses VAT appeal over Sensations Poppadoms

3 weeks ago | accountancydaily.co | Will Drysdale

Crisp giant Walkers must pay VAT on its range of Sensations Poppadom snacks after losing an appeal at the First Tier TribunalWalkers Snacks Foods appealed at the FTT, rejecting HMRC’s claim that VAT should be charged at the standard rate on the snack. HMRC stated on 4 June 2021 that the products should be standard rated for VAT purposes, however Walkers disagreed with this.
Reform would raise tax free threshold to £20k

1 month ago | accountancydaily.co | Will Drysdale

Nigel Farage spoke today in Central London where he announced if Reform were elected, government savings would come in the billions from scrapping Net Zero and the diversity, equity and inclusion (DEI) agendaThe Reform UK party has already opened its own Department of Government Efficiency (DOGE) inspired by his acquaintance, Elon Musk, and will be evaluating local government spending at Reform controlled councils’.
Millionaire couple wins £3.3m tax case after selling £27m mansion

1 month ago | accountancydaily.co | Will Drysdale

A couple who bought a house on Burnsall Street in Chelsea for £10m have won their appeal against paying capital gains tax on the profit as the tribunal believed it was their principal private residence (PPR)Raymond Charles Eyre and Diana Eyre bought 37 Burnsall Street in Chelsea in 2010, demolishing the whole property and building a new house on the same site.
Fake Greggs manager jailed for £710k baker fraud

2 months ago | accountancydaily.co | Will Drysdale

A fraudster who claimed to be the area manager for 32 Greggs bakeries to claim Covid support funds designated for small business support has been jailed for four yearsAftab Baig, 47, defrauded Leeds City Council out of more than £710,000 during the pandemic, although he was never employed by Greggs. Baig, from Glasgow, was found guilty at Leeds Crown Court on 12 February after a six-day trial for abusing the support schemes and was sentenced on 15 April to four years imprisonment.
Downing Street publishes PM’s 2024 tax return

2 months ago | accountancydaily.co | Will Drysdale

The Prime Minister paid over 35% in income tax in the 2024 tax year, while his deputy paid an effective rate of 25%Downing Street has published a summary of Keir Starmer, Rachel Reeves and Angela Rayner which details the salaries of each of the Labour Party members, and any additional income.
‘Cocktail of risks’ despite drop to 2.8% inflation

Mar 28, 2025 | accountancydaily.co | Will Drysdale

Inflation has fallen from 3% to 2.8% for February but big price rises are baked in for April meaning any relief will be short lived and half the data was not analysed yetThe unexpected fall could give Rachel Reeves a modicum of comfort as she faces her first Spring Statement speech and was just below economists’ predictions. New predictions from the Office for Budget Responsibility (OBR) show inflation will hit a peak of 3.8% in July, then not returning to the 2% target until at least Q2 of 2026.
Spring Statement: high income child benefit via PAYE from August

Mar 26, 2025 | accountancydaily.co | Will Drysdale

Taxpayers facing the high income child benefit charge will no longer have to do a tax return from this summer as HICBC will be deductible through PAYE earningsFrom August 2025, employed individuals earning over £60,000 and falling under high income child benefit charge (HICBC) will be able to report their family’s child benefit payments through a new HMRC online service.
Law firm fined £465k for Russian sanction breach

Mar 21, 2025 | accountancydaily.co | Will Drysdale

The Russian subsidiary of top six law firm Herbert Smith Freehills has been given a £465,000 penalty for breaching Russian sanctions due to ‘human error’ after self-reporting to the OFSIThe penalty was imposed by the Office of Financial Sanctions Implementation (OFSI) against the Moscow subsidiary of the firm, which operates as Herbert Smith Freehills (CIS) LLP.