Rachel Reeves considers ‘mansion tax’ on homes above £1.5m August 20, 2025 Chancellor Rachel Reeves is looking at imposing capital gains tax on the sale of houses above £1.5m as she looks to fill a £40bn hole in the public finances. The change, which would likely happen at this year’s Autumn Budget, would see higher-rate taxpayers pay 24 per cent of the value of any gain they [...]
Inflation tops forecasts as food prices jump August 20, 2025 Inflation jumped in July, official data has suggested, creating a dilemma for Bank of England officials ahead of the central bank’s next policy meeting in September. The Office for National Statistics (ONS) said consumer price index (CPI) inflation hit 3.8 per cent in the 12 months to July, which is on par with the Bank [...]
BGC: Reeves making a mockery of growth strategy with gambling tax August 20, 2025 The Government would be “making a mockery of their growth strategy” if they introduce a mulled gambling tax, the chief of the Betting and Gaming Council has said. Grainne Hurst insists that plans by Chancellor Rachel Reeves and the Treasury that could hit bookies with tax rises and potentially drive punters away from popular sites [...]
Reeves warned tax reform would be ‘rushed’ and lead to snags August 20, 2025 Chancellor Rachel Reeves’ efforts to fast-track tax reforms in the three months leading to this year’s Autumn Budget risk being “rushed” and putting Britons at a disadvantage, senior tax advisers have warned. Treasury officials are reportedly “racing” to find tax reforms to ease the burden on businesses and individuals while improving productivity forecasts from the [...]
One in five hospitality firms have no cash reserves after tax raid August 20, 2025 A fifth of British hospitality businesses have no cash reserves left and nearly eight in 10 have raised prices as they battle to shoulder the succession of cost hikes placed on them at last year’s autumn Budget. Fresh data from four of the sector’s trade bodies showed that 69 per cent of members have less [...]
Reeves’ punitive property tax will hurt London the most August 19, 2025 Labour’s mulled property tax could stall the housing market - and it's Londoners who will suffer most, writes Steven Mulholland.
Savers could miss out on £37,000 from reluctance to invest in stocks August 19, 2025 An ongoing lack of confidence in retail investing could be costing UK individuals a staggering amount of money, as people continue to opt for the safety of cash savings. Apprehension to enter the stock market could cause people to miss out on an average of £37,000 compared to investors, according to savings platform Moneybox’s financial [...]
Most millionaires envisage better life away from the UK August 19, 2025 Nearly two thirds of millionaires envisage a better quality of life outside the UK, according to a new poll that suggests a growing pessimism among the better-off. The poll of over 1,000 UK residents with a net worth of at least £1m has suggested that Brits are less positive about life at home as 60 [...]
Budget: Growing concern gambling tax could impact hospitality August 19, 2025 There is growing concern that the potential gambling tax levied by Rachel Reeves and the Treasury could have a knock on effect into the hospitality industry. A levy that would see bookies forced to pay a hiked tax sum, to bring them in line with online casinos and gaming sites, could be catastrophic for sports [...]
Just how many non-doms are leaving the UK? August 19, 2025 Since the Chancellor announced her non-dom crackdown, advisers, campaign groups and economists have warned an exodus of wealthy foreigners is afoot. But after a report claimed that departures were less extreme than feared, Ali Lyon digs into the data. There are lies, damned lies, and statistics. Popularised by Mark Twain, the phrase describes people’s tendency [...]