Retail industry calls for VAT cut to be extended to struggling sector July 8, 2020 Retail industry experts have expressed shock and disappointment that the chancellor’s decision to cut VAT for hospitality firms did not extend to the struggling sector. Rishi Sunak today announced plans to slash VAT for hospitality and tourism businesses from 20 per cent to five per cent. The retail sector welcomed the support announced for employment [...]
Stamp duty holiday: Industry reacts to property tax cut July 8, 2020 The UK property sector has reacted to the stamp duty holiday announced this afternoon, with many believing it will help to reinvigorate the market following months at a standstill during lockdown. Chancellor Rishi Sunak said this afternoon that the stamp duty threshold will increase from £125,000 to £500,000 until March next year to boost activity [...]
Stamp duty holiday: Housebuilder and estate agent stocks jump July 8, 2020 Housebuilders and estate agent stocks jumped this afternoon after the chancellor announced a stamp duty holiday in a bid to get the UK property market moving. Chancellor Rishi Sunak announced that the stamp duty threshold would increase from £125,000 to £500,000 until March next year to boost activity after the coronavirus lockdown. He said it [...]
Date night discount: Government to split the bill on dining out in August July 8, 2020 The government has announced plans to cover half the bill for dining out in August to encourage consumers to support the hospitality sector after the coronavirus lockdown. Chancellor Rishi Sunak today announced the Eat Out to Help Out scheme, which will provide a 50 per cent discount for sit down meals in cafes, restaurants and [...]
Stamp duty holiday: Chancellor confirms immediate property tax changes July 8, 2020 The chancellor has confirmed an immediate stamp duty holiday in a bid to reinvigorate the housing market after the coronavirus lockdown. Speaking in the House of Commons this afternoon, Rishi Sunak said the threshold for paying stamp duty will be raised from £125,000 to £500,000. The chancellor said the stamp duty holiday, which will run [...]
Stamp duty holiday: Top London areas for potential property tax savings July 8, 2020 Chancellor Rishi Sunak is today expected to announce a stamp duty holiday in a bid to reinvigorate the UK housing market following the coronavirus lockdown. The announcement is expected to raise the stamp duty threshold from £125,000 to £500,000, according to reports. Experts have said that buyers searching for properties in more expensive areas could [...]
Stamp duty holiday ‘could be implemented immediately’ July 8, 2020 The chancellor is expected to announce this afternoon that a stamp duty holiday will come into force immediately, rather than delaying the change until autumn. Rishi Sunak is expected to raise the threshold for paying stamp duty from £125,000 to £500,000 as he outlines measures to help the UK economy recover from the coronavirus crisis. [...]
Boohoo launches independent review of supply chain after Leicester factory claims July 8, 2020 Fast fashion retailer Boohoo suffered a further share price drop this morning after it launched an independent review of its UK supply chain following allegations of poor working practices and underpayment of workers at a clothing factory in Leicester. Boohoo this morning said it was “shocked and appalled” over the allegations that the Jaswal Fashions [...]
Travelex debtholders take control with £84m funding July 8, 2020 Embattled foreign exchange firm Travelex has announced that its debtholders will take control of the company after injecting £84m to help it weather the coronavirus crisis. Travelex said it has reached an agreement with 66.7 per cent of its senior secured noteholders (SSN) and all of its revolving credit facility lenders on the terms of [...]
Stamp duty holiday: What does it mean for the UK housing market? July 7, 2020 In a “mini-budget” spring statement tomorrow chancellor Rishi Sunak is expected to announce a range of measures to boost the economy which has been ravaged by the coronavirus crisis. As part of the package the chancellor is reportedly planning to cut stamp duty for properties worth up to £500,000 in a bid to reinvigorate the [...]
