British family sells $10m Van Gogh to avoid rise in capital gains tax February 26, 2021 A British family are selling a Vincent Van Gogh drawing for a record breaking $10m (£7.1m) to avoid a potential rise in capital gains tax in next Wednesday’s budget. Thomas Gibson, a London art dealer, and his three sons have decided to sell the Van Gogh alongside seven other works, including art by Lucian Freud [...]
Chancellor Rishi Sunak ‘planning stealth tax rise’ on wealthy pensioners in next week’s Budget February 26, 2021 Chancellor Rishi Sunak 'planning stealth tax increase' on wealthy pensioners in next week's Budget
Tory rebels prepare to block proposed corporation tax hike February 25, 2021 Conservative rebels are preparing to unite with Labour MPs to block a proposed hike in corporation tax from 19 per cent to 25 per cent, according to reports. Chancellor Rishi Sunak has laid down plans to introduce a “pathway” for hiking corporation tax over the next few months, as he prepares to announce his spring [...]
Rishi Sunak to extend business rates relief and furlough February 19, 2021 Rishi Sunak is set to extend business rates relief and the furlough scheme into the summer, offering further support to companies battered by coronavirus restrictions. In his Budget next month the chancellor is expected to announce that the year-long business rates holiday for the retail, hospitality and leisure sectors will continue beyond the previous end-date [...]
Treasury Committee chair: ‘One-off wealth tax’ could patch the Covid gap in public finances February 15, 2021 The MP who leads the Treasury Committee suggested this morning that Chancellor Rishi Sunak should introduce a one-off wealth tax to help revive the country’s public finances. As the pandemic is tearing its way through public finances, the chair of the UK Treasury Committee, Mel Stride, said a one-off wealth tax may be an effective [...]
Rishi Sunak mulls six-week extension to stamp duty holiday February 13, 2021 Rishi Sunak is said to be considering a six-week extension to the stamp duty holiday to prevent thousands of house sales from falling through. The chancellor is mulling a time-limited extension to mid-May in a bid to ease fears that buyers could be caught in a “completion trap” as the current March 31 deadline looms, [...]
Sunak extends Covid loan relief after BoE says £22bn may never be repaid February 5, 2021 Rishi Sunak to extend Covid loan relief with longer repayment time for small businesses
Rishi Sunak to chair meeting with G7 counterparts on Covid-19 recovery and digital tax reform February 3, 2021 Sunak to chair meeting with G7 counterparts on Covid-19 recovery and digital tax reform
University students to receive share of £50m funding amid Covid disruption to teaching February 2, 2021 Universities are set to receive an additional £50m to support financially struggling students amid mounting backlash over continuing fees during the pandemic. The new funding, which comes on top of a £20m package offered to disadvantaged students in December, follows a slew of rent strikes and protests from students. Many have asked for rent on [...]
Rishi Sunak set to maintain triple tax lock despite Covid-19 deficit February 2, 2021 Chancellor Rishi Sunak is said to have agreed to maintain the Tories’ so-called triple tax lock at next month’s Budget, preventing him from raising income, national insurance or value added tax. The chancellor had come under pressure from Treasury officials to shun the commitment made in the Conservative Party’s 2019 manifesto not to increase rates [...]