28 June, 2021
Home purchases at risk
Conveyancers are warning that thousands of property transactions could fail to complete by 30th June, putting chains of sales at risk. Homebuyers are attempting to get over the line before the end of the stamp duty holiday. And if they can’t? They’ll be hit with tax bills of up to £15,000. It’s feared many buyers would be unable or unwilling to pay and decide to pull out instead.
The world’s biggest crypto exchange has been banned from operating in the UK by the Financial Conduct Authority (FCA). Binance won’t be allowed to advertise here or set up a UK-based team. However, customers will still be able to access their crypto accounts. The move rumoured to be the first in a string of crypto crackdowns to try and combat rising financial crime.
Business help ends
Small businesses have called for more help to bridge the 18-day gap after support winds down. Crucial measures such as business rates exemptions will end on 1st July, but social distancing rules stay in place until the 19th. Many companies had budgeted for being able to trade as normal from 21st June, and will now struggle financially, according to the Federation of Small Businesses.