Category: tax
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Online traders face crucial HMRC deadline as eBay sellers risk large tax bills
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Leading audit, tax and business advisory firm Blick Rothenberg has warned that eBay sellers and other online traders could face significant tax demands if they fail to register for self-assessment by the end of the year. Under new reporting rules, platforms such as eBay must provide HMRC with details of…
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High street job losses climb to 170,000 amid rising tax burdens
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The UK’s struggling high streets have lost nearly 170,000 retail jobs this year – the biggest annual toll since pandemic lockdowns in 2020 – as stores face higher taxes, rising costs and weak consumer spending. Figures from Altus Group and the Center for Retail Research (CRR) reveal a 42 per…
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Over 4,000 Brits tucked into their tax return on Christmas Day
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New figures from HMRC have revealed that more than 40,000 individuals found time between a turkey dinner and lodging their 2023-24 self-assessment tax return over the festive period. While many were eating leftover Christmas food or gathering around the television, 4,400 people submitted their returns online on Christmas Day itself.…
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Stocks drop in thin year-end trade amid tax selling, profit taking
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(Reuters) – Technology and growth stocks pushed Wall Street’s main indexes lower on Friday, ending an upbeat holiday-shortened week driven by expectations of a traditionally strong period for markets. The Dow Jones Industrial Average fell 0.82%, the S&P 500 fell 1.24%, and the Nasdaq Composite briefly fell more than 2%…
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Ark’s Cathie Wood calls for tax clarity as she rides ‘Trump bump’
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Written by Susan McGee (Reuters) – Cathie Wood, an American technology investor, told Reuters that she is calling on the incoming Donald Trump administration to promote economic growth and political certainty by postponing the promised corporate and individual tax cuts to January 1, 2025. After lagging in recent years, Wood’s…
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‘no overnight fix’ amid fresh tax hike fears
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Sir Keir Starmer warned on Monday that the prospect of a rapid economic recovery remains elusive, as official figures confirmed the UK economy stagnated in the third quarter. Downing Street stopped short of denying the possibility of a tax increase, raising concerns among businesses that the government’s package of fiscal…
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Purpose Investments Inc. Announces 2024 Final Annual Income and Capital Gains Distributions For Purpose Mutual Fund Trusts with December 15, 2024 Tax Year-End
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This section is Partnership content provided The content in this section is provided by GlobeNewswire for the purposes of press release distribution on behalf of its clients. Postmedia has not reviewed the content. by Globe Newswire Breadcrumb links Globe Newswire Article writer: Posted on December 20, 2024 • 5 minute…
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Landlords defy tax hike as buy-to-let share of market edges higher
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Landlords appear to be ignoring the Government’s latest tax rises, according to new data suggesting buy-to-let investors now account for a larger share of property purchases than before the Chancellor’s latest reforms. The analysis, conducted by the Hamptons real estate agency on transaction data from its parent company, Countrywide, shows…
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Early Bitcoin Investor Sentenced to Prison for Tax Evasion on $3.7 Million BTC Sale
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Follow Nicholas on ? here for daily posts An Austin, Texas, man, Frank Richard Algren III, has been sentenced to two years in prison for filing false tax returns that did not report capital gains from the sale of $3.7 million worth of Bitcoin, the US Department of Justice (DOJ)…
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Farmers descend on Westminster amid inheritance tax row as Starmer faces MPs’ questions
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Hundreds of farmers gathered in Westminster today, chanting “No farmers, no food” outside Downing Street, as Prime Minister Sir Keir Starmer faced a tough grilling in the House of Commons over proposed changes to inheritance tax. Tractors blocked parts of Whitehall during a demonstration organized by Save British Farming and…
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Why Trump Must End Capital Gains Tax On Bitcoin
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In a world where digital assets are rapidly becoming a cornerstone of global finance, the United States stands at a crossroads. The Trump administration has repeatedly emphasized its commitment to making ordinary Americans more prosperous. From pledging to restore economic power on the campaign trail to hiring forward-thinking advisers, the…
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Why Trump Must End Capital Gains Tax On Bitcoin
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In a world where digital assets are rapidly becoming a cornerstone of global finance, the United States stands at a crossroads. The Trump administration has repeatedly emphasized its commitment to making ordinary Americans more prosperous. From pledging to restore economic power on the campaign trail to hiring forward-thinking advisers, the…
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Smotrich reduces hike on EV purchase tax
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Finance Minister Bezalel Smotrich has instructed officials to halt the sharp increase in the purchase tax on electric cars, which was scheduled to take effect next month, the Finance Ministry announced today. Instead of raising the tax from 35% to 83%, the tax will now rise to only 45%. The…
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HMRC settles £4.9m tax case with Gary Lineker
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HMRC has confirmed the settlement of its high-profile IR35 tax case with Gary Lineker, ending a long-running dispute over £4.9m tax liabilities linked to his presenting work with the BBC and BT Sport. The case, which was initially ruled in favor of Lineker by the First-tier Tribunal (FTT), was set…
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HMRC settles £4.9m tax case with Gary Lineker
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HMRC has confirmed the settlement of its high-profile IR35 tax case with Gary Lineker, ending a long-running dispute over £4.9m tax liabilities linked to his presenting work with the BBC and BT Sport. The case, which was initially ruled in favor of Lineker by the First-tier Tribunal (FTT), was set…
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Cryptocurrency Tax Postponed! South Korea Extends Breathing Room To 2027
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Cryptocurrency companies in South Korea will have some breathing room before they start paying capital gains tax as the government has decided to postpone its implementation for two years. South Korean lawmakers agreed not to impose a tax policy on cryptocurrencies next year, moving its implementation to 2027. Cryptocurrency tax…
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Cryptocurrency Tax Postponed! South Korea Extends Breathing Room To 2027
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Cryptocurrency companies in South Korea will have some breathing room before they start paying capital gains tax as the government has decided to postpone its implementation for two years. South Korean lawmakers agreed not to impose a tax policy on cryptocurrencies next year, moving its implementation to 2027. Cryptocurrency tax…
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Labour’s tax hikes dampen UK consumer and business confidence
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Consumer and business confidence fell in the UK as Labour’s tax hike budget raised concerns about employment, rising costs and economic growth prospects. UK consumers and businesses have become more pessimistic about the state of the economy following Labour’s budget tax hike, which has raised concerns about employment and escalating…
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Crypto-Friendly Hong Kong Offers Tax Exemptions to Attract Hedge Funds and Family Offices
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Hong Kong recently announced a bold move to strengthen its position as a global financial centre, especially in the cryptocurrency sector. Recently an offerHong Kong’s Financial Services and Treasury Office has proposed a “waiver of capital gains tax” on investments in cryptocurrencies and other alternative assets by hedge funds, private…