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Related Special Reports
...The donors had tried to make use of a rule that allows individuals to make gifts of unlimited value free of inheritance tax if the person survives a further seven years....
...The group claimed that a special tax that Prime minister Viktor Orbán’s government introduced in 2022 was discriminatory and breached a number of EU laws, including over the free movement of goods....
...But tax-free shopping was scrapped in 2020. A Treasury analysis in 2022 suggested that the policy’s reinstatement would cost £2bn in 2025/26. Yet direct costs only tell half the story....
...“Getting rid of tax-free shopping for overseas visitors is an act of economic self-harm,” Donoghue said, adding that tourists were shortening their stays in the UK in order to enjoy shopping in Paris, Milan...
...A cross-party group of 64 MPs and peers have written to Hunt urging him to bring back tax-free shopping for overseas visitors....
...Since January 2021 Britons travelling to EU countries have been able to take advantage of tax-free shopping....
...If VAT-free shopping was extended to all tourists, it estimated “the total tax contribution is more than 60 per cent larger than the estimated fiscal cost”....
...With just days to go until the end of the tax year, it’s peak season for British savers and investors to make the most of their £20,000 annual Isa allowance before it renews on April 6....
...So that £2,000 would be tax-free....
...The Association of International Retail submitted evidence to the Treasury of the impact of ending tax-free shopping on actual spending levels by non-EU visitors for 2022....
...Over the past 25 years, the tax-free allowance for capital gains increased from £7,100 in 1999-2000, peaking at £12,300 in 2020-21....
...Jeremy Hunt considers scrapping ‘non-dom’ tax status at the Budget...
...But if you are in a muddle when it comes to understanding the value of tax-free allowances, a free one-hour webinar and Q&A is for you....
...In 2016-17 you could enjoy £5,000 a year in tax-free dividend income from assets outside a tax-free wrapper such as an individual savings account (Isa)....
...The London-listed company posted a loss before income tax of £10.9mn, compared with a loss of £231mn in 2022....
...a new three-or six-month rates-free period....
...The US tax authority puts limits on acquirers’ use of tax losses to deter pure arbitrage transactions....
...On travels overseas, I’d pop into Hermès and pick up a duty-free tie to add to the collection....
...But for those who want to leave their wrist digital-watch free while monitoring metrics, it fits the bill....
...After that, the free estate can be passed to grandchildren, parents, siblings, aunts and uncles and grandparents....
...Join Claer Barrett and guests for a free FT FLIC webinar on The True Cost of Childcare on Fri 8 March 12.30-13.30 UK time. Register here now....
...Burberry’s chief executive has warned that the lack of tax-free shopping for overseas tourists was making the UK “less competitive” and benefiting Europe....
...The existing £20,000 tax-free allowance has been in place since 2017-18. It can be split between cash and other investments....
...Today, the musical influence is felt in his preference for writing in free verse. “My quiver is full of many arrows, but rap and hip-hop still sits at the core of who I am,” he says....
...Retailers have said that London risks losing out as a shopping hub to cities such as Paris and Milan, which do offer VAT-free shopping....
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