When purchasing a non-residential or mixed-use property for over £150,000, you will be required to pay stamp duty. Non-residential property refers to commercial properties or properties that are not suitable for living. Mixed properties are those with both residential and non-residential components, such as flats with shops underneath. Additionally, the stamp duty category includes the …
In discussing the need for increased government revenue, she raised the question of why working people are always the ones asked to contribute more. She emphasized that she does not have any spending plans that would require raising £12 billion, so there is no need for a wealth tax or similar measures. She made it …
Chris Etherington, a tax specialist from RSM, has highlighted the need for HMRC to revamp its eligibility checks for the tax relief scheme for home workers. According to Etherington, many individuals who are currently claiming the relief may no longer qualify for it, resulting in a significant cost to taxpayers. He urges HMRC to urgently …
The Institute for Fiscal Studies (IFS) has outlined various issues with the current tax system, particularly regarding the taxation of wealth. According to the IFS, large capital gains, many of which are based on luck, have contributed to the rise in net household wealth and the growing gap between generations. The IFS believes that housing …
According to David Lesperance, a tax expert specializing in advising wealthy expats, many British expats who have moved to Dubai are not aware of the inheritance tax issue. Lesperance has spoken to dozens of expats who were not informed in advance of this concern. He explains that if an expat residing in Dubai passes away, …
Meanwhile, economists at the Institute of Economic Affairs, a renowned think tank, predict that the number of families affected by the death tax could reach 60,000 by 2033. A comprehensive analysis conducted by BestInvest, commissioned by Telegraph Money, estimates that if the current rate of increase continues, the Treasury stands to gain up to £90 …
Revenues at Grosvenor increased by 4% to £306.3m in the 12-month period ending in June. Similarly, sales at Mecca Bingo halls saw a 7% rise, amounting to £134.1m. Despite these increases, both Grosvenor and Mecca have not yet returned to pre-pandemic revenue levels, with decreases of 15% and 18% respectively. To mitigate costs, Rank closed …
When it comes to handling IR35 cases, Dave Chaplin, the founder of IR35 Shield, a software company, shares his insight on the matter. According to his experience, the HMRC team does not consistently analyze every case in line with litigation standards, which is against their own Charter. He contends that instead of conducting thorough fact-finding, …
Manufacturers are facing skyrocketing costs due to the packaging waste recycling note (PRN) associated with glass. Over the past four years, the price of PRNs has surged from £15 to £150 per tonne, a tenfold increase. This surge has been attributed to rising fuel costs, as more fuel is needed for glass collection and furnaces. …
Recent analysis conducted by The Telegraph reveals that a growing number of middle-class families are struggling to afford the steep fees of Britain’s elite private schools. This issue is only expected to worsen if Labour’s proposed tax policy comes into effect. Luke Sibieta, a research fellow at the Institute for Fiscal Studies (IFS), has expressed …