UK-headquartered virtual payments services provider Modulr has reportedly entered a contract with HMRC for the provision of Confirmation of Payee (CoP) services, which has been secured under the latest Open Banking Dynamic Purchasing System (DPS). As per the latest agreement, Modulr will aim to offer… Read More
HM Revenues and Customs (HMRC) has posted guidance on how to pay taxes on the income or gains created by crypto investments. HMRC states: “You must pay the full amount you owe within 30 days of making your disclosure. If you do not, HMRC will… Read More
UK-based P2P lending platform Blend Network reports that annual house price growth in the country surged to 11.0% in July 2021 from around 10.5% in June 2021. This, according to the updated figures from the Nationwide House Price Index. In MoM terms, house prices increased… Read More
TiPJAR, which is a global cashless tipping platform designed for hospitality staff & other tipped workers, has secured £692,780 of its £400,000 target from 370 investors via Crowdcube. The company reports an £11,000,000 pre-money valuation, £5.92 share price, and 5.92% equity. There are now 27… Read More
UK’s easyMoney, the investment platform from Sir Stelios Haji-Ioannou’s easy family of brands that claims that it has “never lost a penny on its loans,” notes that investment in individual savings accounts or ISAs “continues to grow despite low interest rates.” The company questions whether… Read More
UK’s easyMoney, the investment platform from Sir Stelios Haji-Ioannou’s easy family of brands that claims that it has “never lost a penny on its loans,” notes that sometimes, the world of finance can appear to be quite complicated. In their opinion, this can also be… Read More
Digital banking challenger Revolut notes that whether you are just opening your doors to clients, growing a company or investing in a new initiative, let’s “launch into action” during this spring season. Revolut writes in a blog post that Revolut‘s virtual and physical debit cards… Read More
HM Revenue and Customs revealed on February 3, 2021, that Open Banking service provider Ecospend has been selected to build-out its digital payments infrastructure. In September 2020, HMRC had placed a £3 million contract out to tender in order to upgrade the group’s bank transfer… Read More
France-based Fintech firm PayFit has upgraded its HR and payroll platform to allow UK companies to determine furlough and sick pay during the Coronavirus (COVID-19) crisis. The updates to PayFit’s human resources software will give PayFit users the option to submit Coronavirus-related leave requests. The… Read More
Capital on Tap has been working cooperatively with other Fintech service providers in order to develop a software tool, which aims to assist businesses with tracking and claiming back the funds they may have lost, due to the deadly Coronavirus (COVID-19) outbreak. Capital on Tap… Read More
Her Majesty’s Revenue and Customs (HMRC), the UK’s tax, payments, and customs agency, has made changes to its crypto-asset taxation framework for local firms and individuals. HMRC, which creates tax guidelines and various other financial policies, published tax guidance updates that aim to clarify the… Read More
The Joint Chiefs of Global Tax Enforcement, or the “J5”, is a group of nations dedicated to fighting against tax crime and money laundering. Participants in the J5 include the Australian Criminal Intelligence Commission (ACIC) and Australian Taxation Office (ATO), the Canada Revenue Agency (CRA),… Read More
Proplend recently announced HM Revenue & Customs (HMRC) approved its application for ISA manager status for IFISA. The online lender previously revealed its plans to apply for this status after it received full regulatory authorization from the Financial Conduct Authority (FCA). While sharing details about the ISA… Read More
Here is an interesting document that recently popped up. HM Revenue & Customs Guidance Notes for ISA Managers: Draft Crowdfunding. According to the document, “this version of the ISA Guidance Notes for Managers provides guidance on the rules to be applied from 1 November 2016,… Read More
On Wednesday, investment crowdfunding platform Crowd of Angels announced the launch of its new growth funding round. The website is seeking a minimum of £196,000 (max £700,000) as it prepares to expand. Crowd for Angels reported it has helped to raise over £1.1 million for small growing companies… Read More
Jake Wombwell-Povey, CEO & co-founder of Goji Holdings – a service provider for P2P platforms offering Innovative Finance ISAs (IFISA), has shared a comment letter submitted to HM Revenue & Customs. According to the missive, the Financial Conduct Authority (FCA) and HMRC are not quite… Read More
Her Majesty’s Revenue and Customs (HMRC) department, the agency responsible for the collection of taxes, has published its current “position” on the requirement to deduct income tax on interest paid on peer to peer loans. According to HMRC, under existing tax rules in Chapter 3… Read More
HM Revenue and Customs (HMRC), the UK tax authority, will allow savers to hold peer-to-peer lending investment trusts in their Individual Savings Accounts (ISA), according to CityWire Money. The change will take effect July 1–in about two weeks. The move is part of the government’s alternative… Read More
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