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Finance

Capital gains tax: Selling your second home – can you reduce the rate you pay?

Before April 2020, this time period was halved from 18 months to nine. Lettings relief is available for those who share the occupancy of the home with tenants that they out to. To calculate how much relief one can get, a person will need to work out the proportion of their home that’s let out […]

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Finance

Council tax: Thousands could get their bill reduced or even free – can you apply?

Council tax is an expense that many people have to pay however there are ways to get this reduced, or even get it for free. As inflation sits at nine percent and bills continue to rise, any ways to save money could be vital for families who are feeling the financial squeeze. Council tax is […]

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Finance

Online sales tax will crush small business, claim giants

They issued the warning at a meeting on Wednesday between business leaders and Lucy Frazer, the Financial Secretary to the Treasury and minister responsible for tax policy. The Government closed its consultation on the introduction of an OST earlier this year. It is evaluating responses. Both Amazon, founded by Jeff Bezos, and eBay are understood […]

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Finance

Treasury’s £1.1billion inheritance tax boost

The £1.1billion “death tax” is £100million more than was collected at the same period a year earlier, according to HM Revenue and Customs. The freeze on inheritance tax (IHT) thresholds until 2026, soaring inflation and decades of rising property prices are pushing more homes over the £325,000 point when the 40 percent tax becomes due. […]

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Travel

Spain: Benidorm hotels rage against ‘reckless’ new £12 tourist tax – ‘No and never’

“If we take into account that only 44 percent of tourists and 23 percent of overnight stays in the Valencian community are made in accommodation that would pay this tax, it is manifestly clear that the proposed law does not want to ensure tourism as a phenomenon, but severely punish a certain business model, precisely […]

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Sports

Letter: Officials needed for state tennis events

The girls state tennis tournament concluded recently and one thing noticeably absent at the event were officials. Typically, in tennis, players abide by the “code” and call their own lines. However, at the state tournament where the stakes are higher having 3-4 roving officials present helps reassure both players and parents that it’s a level […]

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Automotive

Major car tax changes needed or drivers risk ‘implications’ before electric car switch

In April, company car tax rates were changed, with drivers seeing costs increase for almost every bracket of vehicle. Benefit-in-Kind (BiK) tax rates changed, rising from one percent to two percent for fully electric vehicles and most petrol and diesel vehicles. Following this upcoming tax year, the BiK rate will remain at two percent until 2025, […]

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Finance

UK oil and gas producers warn Sunak over windfall tax

UK oil and gas producers on Thursday warned Rishi Sunak, the chancellor, that his new windfall tax on their profits could force the cancellation of projects as well as prompt investors to deploy their capital elsewhere. At a meeting with Sunak in Aberdeen, about 20 executives from companies with UK North Sea operations — including […]

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Finance

Inheritance tax warning: Families ‘pushed’ into losing millions of pounds in IHT bills

The tax expert also shared some insight to other reasons why IHT receipts are on the rise and gave advice on what people can do to mitigate their bill. He added: “Typically, the value of a residential property is the main reason why estates are pushed over the IHT thresholds and the recent house price […]

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Business

With or without a federal gas tax holiday, here are 4 ways to save money at the pump

The recent run-up in gasoline prices is now being felt nearly across the board. The national average for a gallon of gas is currently $4.94 after topping $5 per gallon for the first time ever earlier this month, according to AAA. Last year at this time, the price was $3.07 per gallon. The increase has put a severe […]