Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
Autumn Statement 2014: Extra charges for non-doms to keep tax privileges December 3, 2014 Wealthy UK residents who are not domiciled in the country will be forced to pay higher charges if they want to keep their tax privileges, the government announced yesterday. Non-doms can choose to be taxed on a “remittance basis”, which means that they are only takes on overseas income and gains that they bring to [...]
Retailers cheer at review into business rates December 3, 2014 RETAILERS welcomed plans for a full review of the UK’s 400 year-old business rates system, seen by the industry as one of the biggest threats to the future of businesses on the high street. Businesses have long called for a reform of rates, which are charged on commercial properties including shops and calculated according to [...]
Merlin on bumpy ride in Thailand as political unrest upsets Siam Ocean World and Madame Tussauds trading December 2, 2014 Legoland and Alton Towers operator Merlin Entertainments warned yesterday that its two attractions in Bangkok were still suffering from poor trading after months of political unrest and a military coup in Thailand. The world’s second-largest amusement park operator after Disney said that while the rest of its Midway portfolio performed well, its Siam Ocean World [...]
Mulberry hires fashion guru as non-executive December 2, 2014 MULBERRY said yesterday it had hired former Barneys fashion director Julie Gilhart as a non-executive director as the troubled luxury brand continues on a hiring spree to help turn itself around. Gilhart, 56, spent 18 years at the US department store, working in various roles. However, she was forced to step down in 2010 as [...]
Food prices fall for first time in almost 10 years December 2, 2014 Britons had reason to cheer last month as food prices fell, while real wages rose for the first time in five years, according to an index of retailers out today. The British Retail Consortium (BRC) and Nielsen said food prices fell by 0.2 per cent year-on-year in November – the first decline since the firms’ [...]
Winkworth says mansion tax talk hitting demand for London £2m-plus homes December 2, 2014 The threat of a potential mansion tax after May’s general election was hitting demand for £2m-plus homes, estate agent Winkworth said yesterday. Shares in the agency fell 2.6 per cent after it warned of a “subdued” first half of 2015, despite anticipating a pick-up in activity in the final six months of the year. It [...]
St Modwen set for record profits thanks to revival in UK regions December 2, 2014 ST MODWEN Properties said yesterday it was on track to report record profits this year, thanks in part to a revival in the regional property market. The company behind the regeneration of New Covent Garden Market in Nine Elms said profit before tax for the year to 30 November would be “at the top end [...]
Mulberry bags Johnny Coca for its creative lead November 27, 2014 MULBERRY has hired Celine designer Johnny Coca to be its new creative director, ending a year-long search for the crucial post and sending shares two per cent higher yesterday. Coca will leave his post at Celine, where he is head design director of leather, shoes and accessories, in January. However, he will not join Mulberry [...]
RBS to put Aldgate office block up for sale with £90m price tag November 27, 2014 The Royal Bank of Scotland is close to putting one of its office buildings in Aldgate up for sale, as it looks to cut costs and tap into booming demand for property in London’s Tech City area. The bank has lined up agents at DTZ to sell Aldgate Union on Whitechapel High Street, with offers [...]
Essential Living wins funds for Build-to-Rent November 27, 2014 RESIDENTIAL Landlord Essential Living has become the first company to receive funding from the second phase of the government’s build-to-rent fund, paving the way for three private rented sector developments in London and the south east. The company said today it had secured a three-year £51.6m loan from the Royal Bank of Scotland and the [...]
