Tag: tax

Ladbrokes owner GVC faces probe by UK tax authority

Image copyright Getty Images Ladbrokes owner GVC has said it is “surprised” the UK’s tax body is widening an inquiry into “potential corporate offending” related to its former Turkish online gambling unit. It said HM Revenue & Customs had expanded its probe into suppliers GVC used in Turkey to include other entities within its group. GVC sold its Turkish business… Read more →

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Property sale tax threshold raised in Wales

Image caption The average cost of a home in Wales is £161,719, already under the tax payment threshold Land transaction tax will be changed in Wales, meaning about 80% of house sales will be exempt from paying tax. Finance Minister Rebecca Evans made the announcement at the Welsh Government daily coronavirus briefing. It will bring the rate payable for properties… Read more →

Tax cut for Scots home buyers starts next week

Image caption Kate Forbes said she was delighted to remove uncertainty from the market A temporary cut to the transaction tax on house sales will be introduced next week, the Scottish government has said. Finance Secretary Kate Forbes announced the cut to the land and buildings transaction tax (LBTT) on Thursday. The move followed UK Chancellor Rishi Sunak’s announcement of… Read more →

Sunak urges US to back digital services tax

Image copyright PA Media The coronavirus crisis has made tech firms “more powerful and more profitable”, the chancellor said in a letter signed by European counterparts. The letter from Rishi Sunak and finance ministers in France, Italy and Spain says tech giants, like Google, Amazon and Facebook, need “to pay their fair share of tax”. International talks are taking place… Read more →

OECD: No deal on digital tax risks trade war

Image copyright Getty Images Image caption There is a risk of a trade war over tech taxes, OECD Secretary-General Angel Gurría says The head of the Organisation for Economic Cooperation and Development has said countries must agree on an approach for taxing tech giants, or they risk a widespread trade war. The warning from Angel Gurría comes as an increasing… Read more →