Tax & Other Financial

Concerns are being raised about the temporary nature of the increase, with the LHA set to be frozen again in 2025. Here are the key points from an article in the Big Issue: LHA Rate Increase: Chancellor Jeremy Hunt raised local housing allowance (LHA) rates in...

HM Revenue and Customs (HMRC) has provided answers to the top five questions asked on the Self Assessment helpline: Do I need to fill in a tax return? Customers can use the online tool to check if they need to complete a tax return. By answering a few simple...

According to a Financial Times report, the UK has issued more than 120 financial penalties to offshore companies for failing to comply with transparency legislation aimed at revealing illicit wealth hidden in the UK property market. The Register of Overseas Entities...

The Financial Times has reported that the HMRC helpline is to be restricted during busy time.  The article can be seen here (subscription may be necessary), and in summary says: The UK's HM Revenue & Customs (HMRC) has announced that it will restrict access to its...

A development of 450 student flats in Brighton, known as 5 Circus Street, has been put up for sale for £67 million. The apartments are located across four blocks and are currently fully let, with rent starting at £239 per week. The development, completed three years...

The ONS has published data on household debt. The summary report can be seen here, and says: Household Debt: Historical Trends: Household debt peaked in Q3 2008 at 156.4% of household disposable income. Decline and Growth: After reaching the peak, household debt...

The Bank of England has warned that household finances in the UK remain stretched, and the full impact of higher interest rates and mortgage pricing is yet to be fully felt. Around 45% of fixed-rate mortgage deals agreed before the end of December 2021 are yet to...

According to data from mortgage provider Nationwide, UK house prices unexpectedly rose in November, indicating further stabilization in the property market as high mortgage rates ease. The house prices increased by 0.2% between October and November, following a 0.9%...

Telegraph Money reveals how to minimise your bill and avoid any penalties - see here (subscription may be necessary). The Telegraph has made the following recommendations to minimise your tax bill: Get ready for deadline day Pay the right tax Get relief on mortgage...

Writing in Landlord Today, Richard Rowntree Managing Director of Mortgages at Paragon Bank, comments on the impact of Section 24 on landlords now that it is fully implemented, and at the the time interest rates have risen. The article can  be seen here, and points out...