United Kingdom: Fiscal & Monetary Policy

New discretionary powers for mayors and local leaders to introduce visitor levies have sparked controversy in the UK hospitality sector. With Manchester, Liverpool, and Edinburgh already implementing accommodation taxes ranging from £1 to 5% per night, the industry faces questions about whether these charges support local regeneration or place unsustainable burdens on an already heavily-taxed sector. As more cities consider following suit, the debate intensifies over balancing municipal revenue needs a

The UK 2024 Budget introduces significant tax changes, including increases in capital gains tax rates, reforms to carried interest taxation, a new residence-based non-dom regime, and measures to combat tax avoidance, with a focus on international compliance and transparency.

HMRC has updated the mechanism for calculating bonus rates for participants in Save As You Earn (SAYE or "Sharesave") schemes, as announced in HMRC Employment Related Securities Bulletin 51.