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Chancellor Rachel Reeves has announced significant increases in capital gains tax (CGT) rates in the UK, raising concerns among entrepreneurs and investors about potential negative impacts on economic growth and investment. The new rates will take effect in April 2025, with the lower rate rising from 10% to 18% and the higher rate from 20% to 24%.
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The Edinburgh International Festival (EIF) and the Fringe are grappling with significant challenges due to funding cuts and rising accommodation costs. The EIF has reduced its 2025 program, while the Fringe Society reports declining ticket sales and artist participation, raising concerns about the future of these cultural events.
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Farmers in the UK are protesting against new inheritance tax rules set to take effect in April 2026. The changes will impose a 20% tax on agricultural assets valued over £1 million, which previously enjoyed exemptions. Critics argue this will threaten family farms and food security.
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Rupert Grint, known for his role as Ron Weasley in the Harry Potter films, has been ordered to pay £1.8 million in taxes following a legal dispute with HM Revenue and Customs. The ruling stems from a 2019 investigation into his tax returns for the 2011-12 tax year, where Grint classified income incorrectly.
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In November 2024, Hong Kong saw a significant increase in property transactions, with 7,689 deals completed, marking a 31% rise from October. However, experts predict a sharp decline in December due to market uncertainties and a slowdown in home sales.