Category: duty
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Taxes on wine and spirits set to rise as duty on a pint is cut
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From Saturday, the cost of wine and lives will climb, as the government raises the duty of alcohol in line with inflation and implement new rules linking tax levels to force (ABV) for each drink. While commercial bodies warn that these will be a “bitter blow” for the sector, the…
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Stamp Duty hikes trigger 42 per cent slump in prime London property deals
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Repeated increases in stamp duty have had a significant impact on high-end property sales in London, with transactions in Britain’s two most expensive neighborhoods falling by 42 per cent over the past decade. According to new analysis by Savills, deals in Kensington, Chelsea and Westminster fell from 10,665 in 2013-14…
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First-time buyers rush to complete purchases ahead of stamp duty increase
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First-time homebuyers in some of the UK’s most expensive areas are rushing to finalize property purchases before April 1, when stamp duty costs are set to rise by an average of £6,300, according to new data from Rightmove. Demand for homes among first-time buyers in London has risen by 3…
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A guide to the new legal duty on employers to prevent workplace sexual harassment
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A new duty on employers to take reasonable steps to prevent sexual harassment is imminent. What should businesses do to prepare? From 26 October 2024, employers will have a new duty to take reasonable steps to prevent sexual harassment of their workers. This new protective duty is contained in the…
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Scrap 5p fuel duty cut as drivers miss out on savings, says RAC
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A royal advisory committee has called for the 5p fuel tax cut to be scrapped, claiming motorists are not benefiting as intended. Introduced in 2022 to ease the cost of living crisis, the cut is costing the Treasury £2bn a year but has failed to translate into savings at the…
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Duty Free Americas petitions court on IAA tenders
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Duty Free Americas, which operates the largest duty-free chain in the United States, is trying to make a deeper push into the Israeli market. In May, the company, owned by the Falic family, which is close to Prime Minister Benjamin Netanyahu, submitted a bid to operate duty-free stores at the…
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Ford ramping up production of popular F-Series Super Duty truck to Canada (F)
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To meet demand for the most popular pickup truck among businesses and consumers, Ford Motor Company (New York Stock Exchange: FFord is expanding production of F-Series Super Duty trucks to its Oakville, Ontario, Canada assembly plant with a $2.3 billion investment. The Canadian facility will increase Total production of the…
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Communications, Consumer Duty, and the FCA
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Regulatory compliance is a cornerstone of credibility and operational integrity for financial services. At Finalto, Klelia Orphanidou leads these efforts as the B2B Head of Regulatory Compliance. With her extensive expertise, she provides a clear roadmap through the complex regulatory landscape that must be navigated as a financial institution. In…
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Airtime, financial transaction levies dethrone ‘sin taxes’ as new KRA excise duty cash cow
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For a long time, the excise tax basket of tax officials was nearly filled with groups of individuals who could barely resist a rush of nicotine or a sip of the suds. Because the excise taxes were mainly taken from cigarettes and alcohol, they were called “sin taxes.” But the…