Regular wages in the UK are finally increasing faster than prices, providing hope for struggling Brits after nearly two years. According to official figures from the Office for National Statistics (ONS), regular pay increased by 7.8% over the three months to August, taking into account the headline Consumer Price Index (CPI) inflation rate. This marks …
The Public Accounts Committee, responsible for overseeing government expenditure, has previously criticized HMRC’s customer service levels, deeming them “unacceptable.” According to HMRC’s performance data, the average call waiting times at the tax office have more than tripled in the last year, increasing from five minutes 14 seconds in 2020-21 to 16 minutes 24 seconds. In …
In a move that highlighted the challenges faced by high-end handbag retailer Mulberry, the closure of its prestigious New Bond Street store in February was attributed to a decline in trade from international visitors and skyrocketing expenses, rendering it economically unsustainable, said CEO Thierry Andretta. Prior to the elimination of VAT-free shopping, around 50% of …
Unraveling the Mystery: Jaffa Cakes The eternal question of whether Jaffa Cakes are biscuits or cakes holds more significance than one might think. Luxury chocolate-covered biscuits are subject to VAT charges, while cakes enjoy a zero-rated status. McVities, in a legal battle with HMRC, successfully argued that Jaffa Cakes are indeed cakes and should be …
Water cremations, also known as aquamation, are becoming increasingly popular in the United States as a more eco-conscious and affordable alternative to traditional burials. This innovative technique involves placing the deceased body in a container filled with water and alkaline chemicals for up to six hours. The process leaves behind only the bones, which are …
In an interesting move, the Government’s spending watchdog has added economist Rita de la Feria to its advisory panel. De la Feria, known for her critical stance on Brexit and opposition to VAT cuts, brings her expertise in VAT and its impact on consumers and businesses to the Office for Budget Responsibility (OBR). The OBR’s …
Peter Andre finds himself embroiled in a financial dispute amounting to £262,000 as his personal company faces bankruptcy. While the financial struggles of his ex-wife, Katie Price, have been well-publicized, it seems that the Mysterious Girl singer has also fallen on hard times. PJA Promotions, Andre’s company, has appointed a liquidator to dissolve the firm, …
The HMRC’s Capital Goods Scheme has suggested that private schools may be able to recover VAT incurred on their building or refurbishment projects for facilities like swimming pools, sports halls, music and drama studios, laboratories or lecture halls. Labour’s calculation, however, does not take into account the possibility of children moving to the state sector …