HMRC national task force considering clampdown on eBay and Amazon over VAT fraud by overseas retailers December 22, 2015 The government is considering forcing online retailers such as Amazon and eBay to pay for millions of pounds of unpaid VAT owed by small overseas traders that sell through their sites. Lord Ashton of Hyde, a Treasury spokesperson, told the House of Lords on Monday evening that HM Revenue & Customs had established a national [...]
London house prices: Luxury apartments in Gatti House on the Strand have broken street’s square footage record October 8, 2015 A new luxury development on the Strand has broken the record for the cost of square footage in the central London district. Grade II listed Gatti House was sold as four separate apartments, with the penthouse going for around £2,260 per sq ft, while the first floor was sold for £2,100 per sq ft. This is thought to be the [...]
Autumn Statement 2015: Chancellor George Osborne banks on UK housebuilding boom as experts warn of looming £30bn black hole November 25, 2015 Chancellor George Osborne will vow to double the national housing budget when he presents his five-year spending plan later today, despite new warnings that the Treasury is facing a £30bn “black hole” in its finances. In a statement to parliament combining the Spending Review and the Autumn Statement, Osborne will say that public finances “come down [...]
Foxtons hit by stamp duty changes and EU uncertainty March 8, 2016 Foxtons said it has been hit by falling volumes in central London as stamp duty pressures put off buyers. The figures Although revenues grew 4.1 per cent to £149.8m in the year to the end of December, pre-tax profits fell 2.6 per cent to £41m, Foxtons said this morning. But sales revenue rose 3.4 per cent to £72.2m as the number of units it sold rose 4.4 [...]
Focus On London Bridge: Why house prices are on the rise next to The Shard December 11, 2015 Children in nursery may sing about London Bridge falling down, but in property circles, it’s building up and the sky’s the limit. The area first became a part of London’s fabric due to its famously crumbly bridge, which was built by the Romans and was the first to cross the Thames. It was originally made [...]
Surprise: Lloyds Banking Group share price leaps as it hikes dividend – but profits are hit by PPI charges February 25, 2016 Lloyds Banking Group shares leaped this morning as it hiked its dividend – but more PPI charges dented its pre-tax profits. Read more: Lloyds cuts bonuses for 2015 The figures Lloyds said underlying profits rose five per cent on last year to £8.1bn in 2015, while total income rose one per cent to £17.6bn. Operating costs fell to £8.3bn, while impairment charges fell 48 per cent to £568m. [...]
From a stuffed eagle to that Aquascutum suit: How Margaret Thatcher’s final asset selloff made £3.3m December 16, 2015 Whatever your views on Margaret Thatcher, it's hard to deny that, given her penchant for privatisations, she'd be proud of this one. An auction of her personal effects – from her blue velvet wedding dress to that handbag – has raised £3.3m. Read more: Thatcher is the most influential woman of the past 200 years Auction [...]
Autumn Statement 2015: Local councils allowed to take home all receipts from property sales November 25, 2015 Local councils will be allowed to keep all of the money raised from asset sales to reinvest in local services, the chancellor announced today, as part of a wider move to encourage the sale of hundred of billions of pounds of public sector land. In his Autumn Statement speech, chancellor George Osborne said locals governments [...]
UK house prices: Stamp duty reforms have saved homebuyers £1.9bn since last year December 3, 2015 The chancellor’s stamp duty reforms may have added to the bill for high-end homes. But for the vast majority who have bought homes under £1m, the measures have represented huge savings. UK homebuyers have collectively saved £1.9bn since the old slab system was abolished last December and replaced with a more progressive tax system, figures [...]
Focus On Hackney Wick: Lack of homes and riverside cool is driving up prices on the edge of the Olympic Park January 25, 2016 With its disused warehouses and abandoned commercial buildings lining the banks of Regent’s Canal, a visit to Hackney Wick may not overwhelm you with its promise initially. But look a bit deeper into its property market and the potential of this industrial plain is clear to see. “Hackney Wick is one of east London’s most [...]