Rishi Sunak orders review of capital gains tax after it emerges Chancellor is facing a £322billion budget deficit this year Review will examine rules charging up to 28 per cent residential property gains It will also look at whether allowances and reliefs could be simplified or scrapped Sunak is interested in ‘how gains are taxed compared … Read more
At the end of May I received a letter claiming to be from Lloyds, my bank, saying they believe I have recently updated my details and that I am now a tax resident of Egypt. It says if this is true, I need to confirm it by sending them a passport, ID card or other … Read more
More than 80 millionaires including director Richard Curtis and the heir to Disney sign open letter demanding governments tax THEM more to help economic recovery from coronavirus ‘Millionaires for Humanity’ is asking governments to raise taxes on its members They want to be taxed more to help fund economic recovery from Covid crisis Signatories include … Read more
Six million would face annual bills of £2,500 if Labour’s left-wing wins an internal battle to introduce a wealth tax Shadow Financial Secretary Dan Carden said Labour is considering a wealth tax It would mean six million Britons being forced to pay an average levy of £2,500 In an internal battle, the Shadow Chancellor said … Read more
Ministers considering new State regulator to control activities of Britain’s thousands of tax advisers offering services to more than 12million people By Dan Atkinson, Financial Mail on Sunday Published: 21:55 BST, 11 July 2020 | Updated: 22:55 BST, 11 July 2020 Ministers are considering a powerful new State regulator to control the activities of Britain’s … Read more
Chancellor Rishi Sunak’s stamp duty cut came under fire today as critics warn it will unfairly benefit buy-to-let investors and second-homeowners, and perpetuate unaffordable house prices. In a bid to boost the housing market the Chancellor announced on Wednesday that most homebuyers won’t pay any stamp duty on the first £500,000 of their home purchase … Read more
Will the stamp duty cut be BAD for first-time buyers? Critics warn tax giveaway could revive buy-to-let investors and boost house prices Chancellor’s plans will see 90 per cent of homes pay no stamp duty until March However this includes second-home buyers including property investors Labour have blasted the move as an ‘unnecessary subsidy’ for … Read more
Rishi Sunak is set to axe stamp duty on most homes on Wednesday in a temporary move designed to boost the flagging housing market. Whitehall sources said the Chancellor was ready to introduce a six-month stamp duty holiday as part of his mini-Budget designed to boost growth and jobs. Mr Sunak is understood to be … Read more
Labour backs ‘wealth tax’ on the ‘very best off people’ to pay for coronavirus crisis if UK economy does not recover as shadow chancellor Anneliese Dodds says those with ‘broadest shoulders’ should be targeted Anneliese Dodds said if tax rises needed they should only be for ‘best off’ people Shadow chancellor said those with ‘broadest … Read more
I’m a pensioner with a modest income. I have some savings that I would like to invest in a buy-to-let to help boost my retirement income. I’ve heard that it may be beneficial if I set up a company and use that to purchase the property investment. Would this be a wise thing to do? … Read more