UK house prices rise for third straight month ahead of Budget October 7, 2024 House prices rose for the third consecutive month in September, taking the average price of a property to the highest level in more than two years. House prices increased by 0.3 per cent month on month in September, and 4.7 per cent year on year. The average property now costs £293,399 – compared to £292,540 [...]
Budget: Rachel Reeves set to drop pensions tax raid plans, per report October 7, 2024 Rachel Reeves is reportedly set to drop plans for a tax raid on pensions over fears it could unfairly affect public sector workers. The Chancellor has been warned that a scheme to reduce the 40 per cent tax relief on higher earners could disproportionately impact teachers and nurses, the Times reported. Treasury officials told Reeves [...]
Employee Ownership Trusts surge as entrepreneurs seek tax-friendly exits October 7, 2024 The number of UK businesses transferring ownership to employees through Employee Ownership Trusts (EOTs) as business owners seek to preserve their company's ethos.
Growth set to return but fears persist ahead of budget October 7, 2024 City economists expect figures published on Friday to confirm that the UK grew 0.2 per cent in August, having been stagnant for the two months prior.
IFS joins calls for ‘serious reform’ of capital gains tax October 6, 2024 Rachel Reeves is reportedly considering a range of tax hikes in the budget, including to CGT, as she seeks to put the public finances on surer footing.
IFS backs death tax on ‘flawed’ capital gains to boost growth October 6, 2024 The “whole design of capital gains tax is flawed,” the Institute for Fiscal Studies has claimed, advocating for a complete overhaul of the tax rather than simply raising it. The influential think tank has advocated for scrapping the tax break of capital gains at death today, arguing that it creates a large incentive for people [...]
Labour MP defends Chancellor’s decision to rule out wealth tax October 5, 2024 One of the rising stars of the new intake of Labour MPs has defended Chancellor Rachel Reeves’ decision to rule out a wealth tax against the richest. Torsten Bell, a former Treasury official and chief executive of the economic think tank Resolution Foundation, said a wealth tax would not raise “significant revenues”. Reeves has previously [...]
Labour capital gains hike would probably cost Treasury money, experts warn October 3, 2024 As the budget approaches, speculation is mounting that Chancellor Rachel Reeves is planning to reform CGT to help fill an alleged £22bn blackhole in the public finances.
All you missed in the Tory leadership speeches: Badenoch dubbed ‘arrogant’, Cleverly wants party to be ‘normal’ October 2, 2024 Tory leadership candidate James Cleverly has urged his party to “be more normal” and take inspiration from US president Ronald Reagan. Making his leadership campaign speech at the annual Conservative Party conference in Birmingham, Cleverly opened his address from behind a lectern with an apology to the public. The former home and foreign secretary said: [...]
Plusnet price rises boost profit after John Lewis closure October 1, 2024 Profit has risen at Plusnet despite a slump in customer numbers following the closure of its mobile division and John Lewis axing its broadband platform. The Sheffield-headquartered broadband provider, which is owned by BT, suffered a 29 per cent reduction in its customer base following the closures. However, annual contractual price rises partially offset the [...]