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HM Revenue and Customs (HMRC) says it is chasing unpaid tax of £35 million amid tax planning and “mitigation” schemes being offered on the internet.Dozens of websites are now advertising deals, for a fee, claiming there is a loophole in the law. But HMRC is pursuing tax avoiders and law firms have issued warnings. Homebuyers are legally [...] House prices have continued to drop sharply in some regions of England and Wales – but still rose in London an official a survey has found.The Land Registry data offers evidence of the varying nature of the market in different areas of the country. In London, prices rose by 0.3% in September compared with August, and [...] UK house builder Bellway has reported a 50% jump in annual pre-tax profits to £67.2 million during a year in which it said the market had “stabilised”.Higher sales, better margins and tighter cost control were behind the improvement, with turnover in the year to 31 July up 15% to £886.1 million. Houses sold by the Newcastle [...] Activity in the UK construction sector slowed to “near stagnation” in September, a closely-watched survey has suggested.The Markit/Cips construction purchasing managers’ index (PMI) fell to 50.1, just fractionally above the 50 “no-change” threshold that separates expansion from contraction. In August, the index had read 52.6. Markit said fewer new orders was the reason behind the slowdown, but [...] Building and heating materials group Wolseley has returned to a full year profit in 2010/11.The group suffered when the housing market was hit during the recession, but said it had focused on improving its “customer, product and vendor mix”. Wolseley reported a pre-tax profit of £391 million in the year to July, compared with a £328 [...] The number of properties sold in the UK fell to 78,000 in August, figures from the official tax authority show.This was 6,000 fewer sales than in July – which had seen the highest total for a year – although a drop is often recorded in August during what is traditionally a quieter holiday month. However, the [...] Barratt Developments, the country’s largest homebuilder, says it has had its best result in three years helped by a rise in average selling prices.It reported a pre-tax loss of £11.5 million for the year to June, including £54.2 million of exceptional charges relating to financing and reorganisation. Stripping these charges out, the company made [...] House builder Redrow Plc has reported a better than expected annual pre-tax profit, on the back of a 12% rise in its house sale prices.But the Ewloe-based firm warned the outlook for the property market was challenging. Redrow posted a pre-tax profit of £25.3m in the 12 months to the end of June, compared with £700,000 [...] Growth in the UK building sector slowed further in August while the housing sector shrank again, builders suggests.The Markit/Cips Construction PMI index – based on a monthly survey of building firms – fell to 52.6, from 53.5 in July. Levels above 50 indicate growth. It is the lowest reading since the construction sector returned to growth [...] House price changes in the different regions of England and Wales varied sharply in June new figures from Land Registry show.There was a 2.8% rise in prices in Wales from May to June, but a 2.1% fall in the same period in the north-east of England, the data showed. But, on average prices were unchanged, with [...] Registered Office in England, 24 Charlton Drive, GL53 8ES, UK- 3506015 • Data Protection Registration Number- PZ5407728
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