HMRC Clamps Down on Controversial Tax Scheme for Landlords
HMRC intensifies efforts against the 'hybrid business model' tax scheme, cautioning property landlords of potential legal implications and urging compliance through professional tax advice.
UK Income Tax and Fiscal Drag: How People Keep Falling into Higher Rates
In the UK, fiscal drag, stemming from frozen income tax thresholds, pushes more individuals into higher tax brackets amid rising living costs, resulting in increased government tax revenue. Over 4 million more people now pay 20% income tax due to...
Urgent Surge: UK’s Tax and NIC Receipts Soar in April-August 2023
Learn UK’s financial statistics for April 2023 to August 2023, showing remarkable growth in key tax categories.
Average House Prices Experience Decline Amid Housing Market Challenges
The UK housing market saw a 0.3% dip in July, marking the fourth consecutive monthly decline, particularly affecting Southern regions. Annual data shows a slight improvement with a -2.4% decrease. First-time buyers prefer smaller homes amid rising borrowing costs, while...
Property Developer Sentenced to Prison for £295,000 Invoice Fraud
Property developer Allan Livesey from the Lake District received a three-year prison sentence for orchestrating an elaborate invoice fraud, swindling a finance company out of £295,000, underscoring the severity of fraudulent actions and the legal repercussions they carry.
Bank of England Raises Interest Rates to 5.25% Amid Soaring Prices and Easing Inflation
The Bank of England raises its interest rate to 5.25% to tackle the issue of inflation.
HMRC Pursues Uber for £386m VAT Bill
Uber faces a tax dispute with the UK’s tax authority, HM Revenue and Customs (HMRC), as the latter demands an additional £386 million in VAT payments. The disagreement revolves around Uber’s use of the Tour Operators Margin Scheme (TOMS) for...
Urgent Registration Required for Short-Term Let Landlords in Scotland
Scottish landlords operating short-term lets, like Airbnb hosts, face an urgent deadline for property registration under new licensing rules, aiming to elevate safety standards and avoid penalties.
UK’s Holiday Accommodation Sector Poised for Robust Growth in 2023
The UK's holiday accommodation sector, after facing setbacks in 2021 due to the pandemic, showcases strong signs of recovery and growth in 2022, offering an alluring opportunity for investors aiming to diversify their property portfolios.
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