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A stamp duty holiday was introduced from 8 July 2020 until 30 June 2021 and from 1 July 2021 to 30 September 2021 offering reduced rates on purchases. [29] A permanent return to the rates that were in place between 1 July and 30 September 2021 was announced with immediate effect at the mini-budget on 23 September 2022. [30]
The National Minimum Wage Act 1998 (c. 39) creates a minimum wage across the United Kingdom. [2] From 1 April 2024, the minimum wage is £11.44 per hour for people aged 21 and over, £8.60 for 18- to 20-year-olds, and £6.40 for 16- to 17-year-olds and apprentices aged under 19 or in the first year of their apprenticeship. [3]
HMRC announces a crackdown on tax evasion by those who make extra cash from "side hustle" websites like Airbnb, Amazon, eBay and Etsy. [6] 2 January Storm Henk: The Met Office issues a severe weather warning as Storm Henk hits parts of the UK, bringing winds of up to 80 mph (128 km/h), along with the risk of flooding. [7]
For example, under the United States system each corporation must maintain a calculation of its earnings and profits (a tax concept similar to retained earnings). [45] A distribution to a shareholder is considered to be from earnings and profits to the extent thereof unless an exception applies. [ 46 ]
In the UK, 16-25 railcards offer 1/3 discount on rail travel, and other discounts, in exchange for an annual fee [11] An Enhanced Partnership in the north east of England offers fares of £1 for a single bus journey for all under 22s on any bus service in the region. [12]