Liz Kendall recently set out how Britain’s system of employment support must be fundamentally reformed to tackle the “most urgent challenge” of spiralling economic inactivity. In a Department for Work & Pensions press release issued 23 July 2024 it was announced: Work and Pensions Secretary…
Month: August 2024
Opportunity knocks for holiday lets owners
From April 2025, the present tax breaks enjoyed by owners of Furnished Holiday Lets (FHLs) will cease and FHL income and gains will be taxed in the same way as other property businesses. Currently, FHL owners benefit from tax advantages, as compared to non FHL…
What is the position now re private school fees
The following notes are copied from draft legislation published by HMRC, to be included in the Finance Bill 2024-25. As of 1 January 2025, all education services and vocational training supplied by a private school, or a “connected person”, for a charge will be subject…
Taxing Times
In a recent announcement to parliament, the Chancellor confirmed the current year deficit in the government finances of £22bn. She set out some of the reductions in public expenditure to close the deficit but hinted that there may be tax increases required to balance the…