News Archive: tax

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21, 2010 July:

Germany: anger over new airline tax

German airlines reacted angrily yesterday to details of a proposed new tax on passengers leaving the country's airports that could boost ticket prices for long-haul destinations by 26 euros...

14, 2010 July:

One month to go!

Spain is on cloud nine after winning two of the biggest sporting gongs in the world, but back on planet earth there is a rather more pressing matter for them to deal with - at least for the Brits who sold a property in Spain between 1997 and 2006 - who have just one month left to begin claiming back capital gains tax charged illegally on the sale of their home...

09, 2010 July:

Interest rates ‘to safeguard recovery'

CB Richard Ellis responds to yesterday's Monetary Policy Committee decision...

29, 2010 June:

VAT rise to ‘boost black economy'

The Chancellor of the Exchequer's announcement that VAT will rise to 20 percent in January 2011 will boost the black economy and cowboy builders as consumers resort to ‘cash-in-hand' to avoid paying VAT on building work, warns the Federation of Master Builders (FMB)...

25, 2010 June:

Govt stalling on axing APD

Chancellor George Osborne has refused to commit fully to a decision on scrapping Air Passenger Duty (APD) in today's Budget, meaning planned rises will go ahead this year...

24, 2010 June:

Lower than expected CGT rise

The UK Emergency Budget, although generally regarded as the best possible in difficult circumstances will do nothing to prevent residential property prices in the UK falling, experts predict...

21, 2010 June:

Landlords ‘must be protected' from CGT blow

The Chancellor must ensure landlords are not driven from the market by any rises in Capital Gains Tax in his first Budget this week, according to the Association of Residential Letting Agents (ARLA)...

Removing debt tax relief: ‘disastrous'?

Increasing the cost of debt by limiting the tax relief it attracts could have a disastrous impact on the economy, chancellor George Osborne has been warned ahead of this week's emergency Budget...

14, 2010 June:

Buy-to-let to remain strong despite CGT

Leaders, the UK letting specialists, are confident that buy-to-let will remain a popular investment option, even if the rate of Capital Gains Tax (CGT) rises. CGT is currently set at a flat rate of 18 per cent but there has been widespread speculation that this will be converged with Income Tax bands at 20, 40 or even 50 per cent under the new coalition government...

Landlords beg Govt to abandon CGT plans

Private landlords have called on the government to abandon plans to increase Capital Gains Tax (CGT), and instead to work to reduce red tape around the lettings industry. That's the finding from Upad's latest Rental Confidence Index survey, which asked 257 UK private landlords "do you feel more or less confident in the market than you did last month"...

11, 2010 June:

Agricultural property relief explained

Saskia Arthur from Boodle Hatfield explains the complicated rules governing the inheritance tax APR...

09, 2010 June:

Rome plans new hotel tax

Rome is planning a hotel tax on its 9 million annual visitors in a revenue-raising measure that may hurt its tourism industry and put further pressure on its credit rating...

07, 2010 June:

VAT advice on listed building restoration

VAT rules when it comes to listed buildings can be a minefield - this week we explore how you can save costs through careful planning...

03, 2010 June:

GST ‘threatens market recovery?'

Government Capital Gains Tax proposals could force a quarter of property investors from the housing market, according to a survey by LSL Property Services plc, owner of the UK's largest lettings agent network, including national chains Your Move and Reeds Rains...

01, 2010 June:

Second homes and CGT

If rumours are true, the new Government may raise Capital Gains Tax in next month's emergency budget. Cheryl Markosky asks what that means for second-home owners...

25, 2010 May:

Avoiding the CGT hike

With less than a month to go until the first Coalition Budget on June 22 the desire to avoid the expected higher rates of Capital Gains Tax is gathering pace...

21, 2010 May:

BTL investors facing 40% CGT

The possibility that the Government will raise capital gains tax from 18% to 40% is causing widespread alarm among landlords...

19, 2010 May:

Act now to claim Spanish tax rebate

Expats who paid out too much tax on their Spanish property sale may be entitled to a rebate amounting to thousands of euros, according to leading foreign exchange firm Currencies Direct...

14, 2010 May:

Landlords ‘must be included' in CGT exemptions

Capital gains from the sale of residential property must be included in the "generous exemptions" if Capital Gains Tax (CGT) is increased, according to the National Landlords Association (NLA)...

CGT rise ‘applauded' by homefinder

The coalition government's proposal to increase Capital Gains Tax (CGT) on the sale of second homes from 18% to a predicted 40% has been applauded by homefinder County Homesearch...

07, 2010 May:

Property tax: call in the professionals

Property investors who have received a letter from the taxman asking for a call about unpaid tax on income from property letting, then you need to speak to a property professional fast...

26, 2010 April:

Stamp duty paid for Scotland

Housebuilder Bett Homes is extending the government's Stamp Duty offer to second time buyers in Scotland, which could mean a saving of up to £2,500 on a brand new home...

07, 2010 April:

Stamp duty ban brings surge in demand

Estate agents and mortgage lenders are already reporting surges in demand from prospective first-time buyers after the Government's announcement of a two-year stamp duty holiday for them...

31, 2010 March:

UK exiles see Malta as less taxing

The UK is likely to see a flurry of exiles heading for sunnier and less taxing shores like Malta, predicts one property specialist - who says that this small English speaking Mediterranean island offers a warm welcome only 3 hours away from the UK...

26, 2010 March:

Tax change for UK holiday lets

There are only a few days left until new laws are introduced preventing furnished holiday lets receiving tax relief in the UK - so just what does this mean for those that own them?..

Council tax to rise by 1.8% this year

Council tax in the UK will rise by an average of 1.8% this year - the lowest annual increase since it was introduced...

Rental sector overlooked in budget

The stamp duty threshold has been raised from £125,000 to £250,000 for two years, but for first-time buyers only...

24, 2010 March:

Stamp duty threshold doubled

In the 2010 UK Budget announced today, the Chancellor of the Exchequer, Alistair Darling, doubled the tax free threshold for stamp duty on residential properties to £250,000 for first time buyers until the end of 2011...

22, 2010 March:

TLC for landlords, please Darling

Next week's Budget should be firmly focused on housing and changing the tax system to encourage further investment in private residential accommodation, according to the National Landlords Association (NLA), the leading representative body for private landlords in the UK...

15, 2010 March:

Expats hail Spanish tax breaks

Special Spanish tax breaks mean that it's not just the football stars such as Ronaldo and Kaká who pay far less taxes. All foreigners who work for Spanish companies can also apply.

26, 2010 February:

Council tax rises higher in Wales

Council tax rates in South Wales are rising more than twice as fast as in England - while Scotland's rates are frozen, it emerged yesterday...

12, 2010 February:

NZ tax options ruled out

The vice-president of the Property Investors Federation is relieved that most New Zealand housing tax options were ruled out in Prime Minister John Key's speech yesterday, but he is wary of what is to come...

08, 2010 February:

Stamp duty concessions coming in?

The Government has published a consultation document entitled "Investment in the UK Private Rented Sector" which indicates that stamp duty concessions could be introduced to encourage institutional investors to become landlords...

05, 2010 February:

NZ homeowners face new land tax

A proposed land tax will be the third tax burden on New Zealand homeowners if the tax working group's recommendations are passed into law...

28, 2010 January:

Saving on stamp duty

Housebuilder Taylor Wimpey is looking to save homebuyers thousands of pounds by paying their stamp duty...

22, 2010 January:

New tax law for Egypt

Despite much controversy, Egypt is pushing ahead with plans to introduce new residential and commercial property taxes as part of a series of plans to help modernise the country's outdated taxation system and boost the economy - but the taxes will be rolled out gradually...

Borough claims biggest council tax cut

Tory controlled Windsor and Maidenhead RBC has unveiled what it claims is Britain's biggest council tax cut...

21, 2010 January:

Stamp duty: a benefit to lettings market?

With the Stamp Duty holiday having not been extended by the Chancellor in the Pre-Budget report last month, the tax is now set to affect thousands of buyers around the country...

11, 2010 January:

New property tax for China?

The Chinese Government is likely to impose a property tax on high-end apartments at some point this year as part of their efforts to curb the dangerous housing bubble taking hold in the country - and foreigners will be affected too as property buying may be restricted...

08, 2010 January:

Tories are to fund council tax freeze

The Conservatives have promised to introduce a two year council tax freeze, funded by central government. The plan is that if councils keep their tax rises to 2.5 per cent or lower, the government - if it is a Tory government, of course - will provide funding to make up the difference...

07, 2010 January:

UK interest rates held

The Bank of England held interest rates at a record low today as policymakers treated recent signs of a tentative recovery with caution...

UK homeowners predict small rate rise

It's not only economists and industry commentators who expect little change to the base rate through the course of 2010. Property owners also believe that there will be only a slight rise in the cost of borrowing over the next 12 months as the Government battles to get the economy back on track...

18, 2009 December:

Chinese rush to pawn properties

Property owners in Beijing are pawning their apartments as they attempt to secure quick cash to buy new properties to take advantage of a tax exemption policy due to end on December 31...

Aviation tax would 'devastate' tourism

Imposing climate change taxes on international air travel, as proposed at the Copenhagen climate summit, would be devastating for Australia's $89 billion tourism industry, the nation's top tourism lobby group has warned...

09, 2009 December:

Reward eco-homes with tax cuts

Climate change has been pushed to the top of the agenda with this week's Copenhagen Climate Change Conference, prompting the Government to announce a new pilot scheme to make our homes more energy efficient, but it will take a direct financial incentive to make it a top priority for UK households, says SmartNewHomes.com...

08, 2009 December:

Newcastle supports stamp duty extension

Newcastle Building Society is urging the Government to extend the stamp duty holiday ahead of Alistair Darling's last Pre-Budget report before the general election...

02, 2009 December:

Mansion Tax would bring in £165m

The Liberal Democrats' Mansion Tax backtrack would affect just 19,600 properties in a year - that is the number of households in the UK, excluding Northern Ireland, listed by Mouseprice as being worth £2m or more. Their occupiers would have to pay a ‘wealth' tax each year just for the privilege of living there...

30, 2009 November:

Inheritance tax blow for UK

Families face being hit by Labour plans to freeze a planned rise in the inheritance tax threshold - Alistair Darling is said to be considering ditching the policy of lifting people out of the inheritance tax net...

23, 2009 November:

Brits eligible for Spanish tax refund

A long-awaited ruling by the European Court of Justice means that Britons who sold property in Spain before 2007 and paid 35% in capital gains tax to the Spanish government could be eligible for a refund...