Badenoch’s inheritance tax gamble Economics The Midday Market report is a new newsletter from City AM, giving you fresh analysis on the biggest stories in the City straight into your inbox every lunchtime. Today, Ali Lyon chews over Kemi Badenoch’s Tory conference inheritance tax overhaul, and what it might mean for the UK’s irrational tax system. Sign up to the [...]
Thousands of Lifetime ISA savers slammed with multiple withdrawal penalties Personal Finance Thousands of Brits who saved into a Lifetime ISA were hit with multiple withdrawal penalties in a single tax year, as calls for the government to ensure the replacement product is fit for purpose grows. Roughly 45,000 savers were penalised for unauthorised withdrawals from Lifetime ISAs (LISA) in the 2024/25 tax year, according to an [...]
Bolt set for £190m VAT bill after legal defeat Tax Ride-hailing platform Bolt has been refused permission to appeal a case brought by HMRC over how it calculates and pays its VAT. This follows HMRC winning an appeal in June against the Estonian tech giant over its VAT payments and calculations, overturning earlier decisions that had ruled in Bolt’s favour. The tax authority brought the [...]
UK house prices fall at fastest rate since May as mortgage rates weigh on demand October 1, 2026 UK house prices fell at their fastest pace since May as expensive mortgages and uncertainty ahead of the Autumn Budget fuelled caution among buyers. Prices fell 0.2 per cent during September, faster than economists had expected and reversing August’s 0.2 per cent increase, according to data from Nationwide. The average UK home was valued at [...]
British Airways defeats HMRC in £5.8m Heathrow cabin crew tax dispute September 29, 2026 British Airways has won a tax battle against HMRC over whether costs tied to cabin crew accommodation at London Heathrow Airport were subject to £5.8m in income tax and national insurance contributions. Following an appeal in June, the Upper Tribunal ruled in favour of the airline on Monday, dismissing the tax authority’s claim and finding [...]
London Broncos say they’ve paid tax bill owed to HMRC September 28, 2026 London Broncos owners say they have paid their tax bill after being hit with a winding-up petition by HMRC on Monday. The second-tier rugby league side, who are looking to join the top-flight Super League, were slapped with the petition by the taxman on Monday under their London Rugby League Limited parent company relating to [...]
Collagen business founder loses £3.6m tax battle September 23, 2026 The founder of a collagen company has lost a battle over a £3.6m tax bill after a judge ruled his product could not be classified as food and therefore cannot claim VAT exemption. Tony Sanguinetti founded Minerva Research Labs in London in 2009 after he “became slightly obsessed with finding a way to reverse the [...]
How inheritance tax is becoming a ‘bill for ordinary households’ September 22, 2026 Inheritance tax receipts have hit a new high as frozen thresholds and rising property values drag more households into the tax net. Inheritance tax (IHT) receipts have hit £3.8bn so far this financial year, surpassing the £3.7bn recorded at the same point last year, according to the latest data from HMRC. Total receipts reached £8.5bn [...]
City watchdog targets London crypto traders in latest clampdown September 18, 2026 The City watchdog has targeted three London premises suspected of illegal peer-to-peer crypto trading as it increases its scrutiny of digital assets. In a joint operation with HMRC and the Metropolitan Police, the Financial Conduct Authority (FCA) said on Thursday it had issued three cease-and-desist letters to individuals trading through UK businesses, ordering them to [...]
Addison Lee founder defeated in £20m non-dom tax dispute September 18, 2026 The founder of premium minicab firm Addison Lee has failed to overturn a £20.5m tax bill from HMRC after arguing that he should be treated as a non-dom in spite of having lived in England for most of his life. Sir John Griffin, aged 84, who was born in England in 1942 to Irish parents [...]