Top Stories

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  UK Launches Reward Program For Tax Fraud Whistleblowers

  By Christopher Crosby

  The U.K. government launched a reward program on Wednesday for whistleblowers who report large-scale tax fraud t...(read more)

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  Bahrain Tells Top UK Court It Has Immunity From Spy Claim

  By Joanne Faulkner

  Bahrain told the U.K. Supreme Court on Wednesday that state immunity prevents it from facing personal injury cla...(read more)

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• UK Cuts ISA Allowance To Push Cash-Rich Toward Investing

  By Alex Davidson

  The U.K. government will cut the tax-free allowance under-65s can pay into a cash individual savings account each year to £12,000 ($15,854) from the current £20,000, effective April 2027, to push savers with extra cash toward investment markets.

• Law Firms Spared Partnership Tax Grab In UK Budget

  By Marialuisa Taddia

  The absence of a rumored increase in national insurance contributions for limited liability partnerships in the chancellor's U.K. budget statement on Wednesday suggested that the proposal might have been quietly shelved after heavy lobbying from the legal sector.

• Trafigura Exec Accused Of Planning $600M Nickel Fraud

  By Lucia Osborne-Crowley

  Metals trader Prateek Gupta on Wednesday denied defrauding Trafigura out of $600 million in a nickel scam, saying during cross-examination that the alleged fraud was instigated by Trafigura and that he was merely "following instructions."

• UK To Limit Pension Tax Breaks, Raising Retirement Concerns

  By Martin Croucher

  The U.K. government said Wednesday it will reduce tax breaks on pension salary-sacrifice arrangements, despite fears it could leave millions worse off in retirement.

• Gov't Extends Income Tax Threshold Freeze In UK Budget

  By Josh White

  The U.K. government will extend the freeze on income tax thresholds as part of its plans to raise £26 billion ($34 billion) in tax revenue without raising rates, Chancellor of the Exchequer Rachel Reeves announced Wednesday.

• 4 Things To Watch As UK Releases Budget

  By Josh White

  The U.K.'s Labour government is set to release an autumn budget Wednesday that faces a test of balancing a pledge not to raise working people's taxes with an expected need to boost revenue to meet fiscal rules. Here are four things to watch for as the budget is issued.

• Reeves Announces Minimum Wage Hike In Pre-Budget Move

  By Adele Redmond

  More than 2.7 million of Britain's lowest-paid workers will get a pay rise in April, as Chancellor Rachel Reeves announced increases to statutory minimum pay rates on Tuesday.

• CILEX Wins Permission To Challenge Mazur Ruling

  By William Janes

  The Chartered Institute of Legal Executives has won permission to appeal against the ruling known as Mazur, which affirmed that legal executives and other unauthorized law firm staff could not conduct litigation, even with the supervision of a solicitor.

• Kuwait Pension Chief's Kids Fail To Escape $1B Bribery Case

  By William Janes

  The children of a Kuwaiti pension authority director lost on Tuesday their bid to escape a case the organization has brought over an alleged $1 billion bribery scheme orchestrated by their father, who died in 2022. 

• Home Office Apologizes, Pays £225K Over War Crimes Libel

  By Eddie Beaver

  The Home Office apologized "unreservedly" on Tuesday for publishing a report falsely alleging that a Bangladesh-born British citizen was guilty of war crimes and offered him £225,000 ($295,000) in damages — among the largest libel payouts made by the government to one of its citizens.

• SFO's Crypto Probe Marks Shift In Tackling Blockchain Fraud

  By Christopher Crosby

  The launch by the Serious Fraud Office of its first cryptocurrency investigation signals an appetite for using new resources to crack down on fraud, part of a wider move by U.K. law enforcement agencies to treat blockchain as a mainstream threat, lawyers say.

• Ex-Trafigura Exec Denies Devising $600M Nickel Fraud

  By Sophia Dourou

  Trafigura's former head of nickel trading denied conspiring with Prateek Gupta to defraud the company out of $600 million through a sham nickel trade deal, as he gave evidence at the trial on Monday.