
Luxury hotel plans submitted for Custom House in London
A historic Grade I listed building on the north bank of the River Thames could be turned into a luxury 179-room hotel.Custom House, on Lower Thames Street in central London, played a significant role in London's global trading network and was most recently occupied by HMRC before it was vacated in 2021. A previous application to develop the site was rejected on appeal in 2022 by the Planning Inspectorate, after the City of London Corporation indicated it would have refused the proposal.The new plans submitted to the local authority include a spa and food and drink spaces, according to the Local Democracy Reporting Service.
Custom House was bought by real estate company Jastar Capital in 2023 through a subsidiary, Custom House City Ltd.The developer has said it also has a cultural strategy of establishing a "golden thread" through key historic spaces including a public ground-floor route through the former King's Warehouse, accompanied by historic displays.A new café and a public quayside space are also included along with opening up more of the Thames Path to make accessible to the public all year.
Jay Matharu, from Jastar Capital, said the proposal would "bring this iconic London landmark back to life"."As long-term custodians, we are thrilled to put forward our plans to revitalise Custom House with welcoming community spaces, a heritage-focused hotel, elegant event spaces, exceptional dining experiences, a dedicated spa, and a dynamic quayside," he added.Elyse Howell-Price from architectural firm Orms, which has designed the proposed development, said the site was "a hugely sensitive heritage asset in one of the most significant riverside sites in The City of London". He added that in drawing up the plans, the firm investigated the history and construction of the building while "envisioning the potential that the revitalisation of the site could achieve by improving the experience of the riverside for all Londoners".

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Daily Mail
2 hours ago
- Daily Mail
Former Liverpool legend racks up debts of £1.5MILLION in media firm as documents reveal he has 'no funds' to pay off taxman after being hit with three-year company ban
Former England and Liverpool legend John Barnes has accumulated debts of over £1.5million in his media firm having been banned as company director for three-and-a-half years. The 61-year-old, who made 79 appearances for England and spent a decade at Anfield, owes the enormous sum to HMRC and other creditors. The ex-Newcastle and Watford star owes HMRC £776,878 in unpaid VAT, NI and PAYE, £461,849 to unsecured creditors, a £226,000 directors loan and liquidator's costs worth £56,535. He has so far paid back £60,000 after agreeing to return the directors loan in instalments. Barnes has received six separate bankruptcy petitions since 2010. The latest report states that a 'small distribution' towards the tax bill will be paid and that while 'no funds' will be available to pay unsecured creditors. The Liverpool legend spent a decade at Anfield where he scored 84 league goals in 314 games His company, John Barnes Media Limited, went into liquidation two years after failing to pay more than £190,000 in tax. Barnes was handed a three-and-a-half year ban from being a company director last April, meaning he is unable to be involved in the promotion, formation or management of a company without the permission of the court. An investigation by the Insolvency Service into Mr Barnes' conduct as a director began in September 2023, just over three years after the company ceased trading in January 2020. The investigation found that between November 2018 and October 2020, nothing was paid to HMRC in tax. Barnes was the sole director of the company, based in West Byfleet, Surrey, which described itself as offering media representation services and ceased trading in January 2020. He failed to pay £78,839 in corporation tax between August 2018 and January 2020, when the company ceased trading. The company also did not pay £115,272 in VAT between February 2019 and 2020. During this two-year period John Barnes Media's turnover was £441,798. John Barnes made 79 appearances for England in a 12-year international career until 1995 Last April, Mike Smith, chief investigator at the Insolvency Service, said: 'Individuals and businesses not paying the tax they should deprives the Government of the funding it needs to provide vital public services and investment in areas such as schools, hospitals and roads. 'John Barnes had a legal duty to ensure his company paid the correct amount of corporation tax or VAT. 'Instead, it paid no tax whatsoever between November 2018 and October 2020, despite receiving earnings of well over £400,000. 'This disqualification should serve as a deterrent to other directors that if you do not pay your taxes while directing money elsewhere, you are at risk of being banned. In a 2009 interview, he said: 'I don't like dealing with taxes, of course. I just hate not having enough money. Apart from that, I don't like dealing with bills and never have done.


Telegraph
3 hours ago
- Telegraph
Where the state pension is means-tested by family wealth. Britain beware
The rising cost of the state pension is not just a British problem. Countries around the world are grappling with the problem as birth rates fall, populations get older, and the burden on taxpayers rises. Britain's current state pension bill is a colossal £158.6bn, and this is predicted to grow to £181.8bn by the end of the decade, according to the Office for Budget and Responsibility (OBR). One of the quirks of having a universal pension system is that the UK subsidises the retirement of millionaires. The number of top-rate taxpayers – earning more than £125,140 a year – aged over 65 has tripled from 44,000 in 2021-22 to an estimated 137,000 in this tax year, according to HM Revenue and Customs (HMRC). Nearly one million pensioners are higher-rate taxpayers, drawing down an income of more £50,270 a year. Suggestions of how to cut the pensioner benefit bill have previously included means-testing the state pension, scrapping the 'triple lock', or raising the retirement age further. Other countries have taken a different tack to reduce their state pension bill, and one Latin American country uses an unusual metric to determine whether pensioners are eligible for state support. Wealth of the household not individual Chile has long been a leader in the development of pension schemes. The country was one of the first to introduce the defined contribution (DC) model, which has become Britain's most common workplace pension. However, the payments were not enough to keep pensioners in a comfortable retirement. The replacement rate, or how much of a person's income when they retire is replaced by their savings and state pension, was lower than in other countries. This was for two key reasons. One, that the contribution rate of 10pc was not enough, and two, that many workers were paying in for just 20 years, rather than the 35 to 40 years that is standard in Britain. This is because many Chilean workers have periods of what's known as 'informality' – or being self-employed. In 2008, following politicians' concerns about the income levels of the poorest pensioners in Chile, a 'solidarity pillar' – a state pension – was introduced. Unlike the UK's state pension, it was means-tested, originally aiming to bring the bottom 60pc of the pensioner population up to a 'minimum floor'. What sets it apart is that eligibility is determined by familial wealth. Those living in the richest 10pc of households are not eligible. Household wealth is assessed on income, family composition, housing, education, health and other factors, according to the Chilean government – all of which is used to give a socio-economic bracket. This has helped to keep the bill for state support for pensioners down, despite a significant expansion in 2022. Shortly after the pandemic, a reform meant that those over the age of 65 began to receive the 'pensión garantizada universal' (PGU), if they met the criteria. Those with an income of less than $1,210,828 (£955.30) a month would be eligible, whether they were still working or not. To qualify, a pensioner must have been resident in Chile for at least 20 years since they turned 20, and for four of the five years before they claim. But most importantly, their family wealth, measured by the Social Household Registry, cannot place them in the top 10pc of the population. Dr Pablo Antolin, of the OECD, explained: 'Imagine that you have a partner, a wife or a husband, who is working part-time or not working at all, and the other one is fully working and is wealthy. They have a lot of money. 'If you do it based on the individual, the second wage earner or the second member of the couple will be getting the solidarity pillar while they're living in a household in which they have lots of money. That was the main argument for using family wealth.' All aspects of wealth – and all those who live in the household – are taken into consideration. Dr Antolin added: 'They take savings and houses [into account]. Because obviously, as we know, in countries like the UK, house ownership puts you in the top level of the income scale.' A socio-economic debate This is in stark contrast to how most benefits are means-tested in the UK, where eligibility is typically determined by an individual's wealth. For example, Chancellor Rachel Reeves's long-awaited U-turn on winter fuel payments will see the money paid to pensioners with annual individual incomes of less than £35,000 – no matter what their spouse earns. One of the reasons Chile implemented the requirement is that it is a culture in which multiple generations of families live together – something that is much more unusual in the UK. Mike Ambery, of pension provider Standard Life, said: 'It works favourably in a culture where generations of the same family share housing and economic wealth. 'This enables consideration of intergenerational spending and wealth – in particular to optimise spending and any applicable inheritance tax.' It is unlikely to be a panacea for the UK's pension problem. Despite its reputation for innovation, Chile has struggled with fundamental questions about how to fund retirements, especially after savers were allowed to raid their pensions during the pandemic to fund day-to-day spending. Meagre state payouts during the pandemic triggered mass demonstrations in 2019, threatening the political stability of the country. In response, the Chilean government allowed three rounds of withdrawals from pension pots – amounting to 20.6pc of the country's 2020 GDP. The drastic policy, designed to ease immediate financial pressures on families, saw three in 10 deplete their pension accounts entirely. In Chile, the population eligible for the solidarity pillar payment is expected to double to hit six million by 2050, according to academics Christopher Evans and Samuel Pienknagura. A glimmer of hope has been found in fundamental reform, on the advice of the OECD. After a decade of gridlock, a landmark bill was passed earlier this year, increasing employer contributions from 1.5pc of salaries to 8.5pc over nine years. 'Major disincentive' Ms Reeves is no stranger to looking abroad for inspiration. Last year it was reported that the Government had been speaking to Australian pension providers about copying aspects of the country's generous system. But a system as different as Chile's would be very difficult to replicate in the UK, experts said, not least because our population is three times bigger. James Jones-Tinsley, pension specialist at consultancy Barnett Waddingham, said: 'Could such a wealth-based proposal ever work in the UK? 'Given that our state pension has been in existence since 1908, and that an 'air of entitlement' to receive it from a specific age, provided the eligibility criteria has been satisfied, is embedded in British culture, it would be a very brave government that would seek to introduce such a sea-change in eligibility.' He added: 'Such a radical proposal would engender so many questions. What components would dictate an individual's wealth? How wealthy is wealthy?' Tom Selby, of investment platform AJ Bell, said: 'Administering means-testing systems is notoriously tricky and often ends up costing a significant amount on an ongoing basis. 'In my view, any potential fairness benefits of means-testing are vastly outweighed by the costs of complexity, potentially disincentives to auto-enrolment saving and the innate uncertainty another state pension revolution would create for millions of people.'


BBC News
3 hours ago
- BBC News
Scandal-hit Apostle Accounting 'called police' after complaint
A company at the centre of a tax rebate scandal called the police after a client complained, court papers have 800 people were left with large bills after making claims through Apostle Accounting, based in Stowmarket, Suffolk, and receiving money to which they they were not former client who lost an appeal at a tribunal against HM Revenue and Customs (HMRC) over its efforts to recover more than £3,500, said Apostle had responded that "police have been informed of threats and harassment".The BBC has sent requests for comment to the former directors of Apostle. The former client, Dennis Lucas, a UPS driver from Camberwell in south London, contacted Apostle after being told about the company by work had received thousands of pounds in "tax rebates" relating to the cleaning of uniforms and subsistence expenses, he tribunal judgement recorded how Apostle "did not ask for, nor did Mr Lucas provide, any details of income or expenses or receipts". He was unaware of what had been claimed on his behalf - but Mr Lucas lost his case as the tribunal found HMRC had acted correctly when it sought to recover the money."We have a great deal of sympathy for Mr Lucas who was misled by Apostle into authorizing claims which he believed to be legitimate, but which Apostle knew were not. However, we must apply the law as it stands," the judgement stated. Mr Lucas estimates that about 200 UPS colleagues had been in contact with Apostle."There's a lot of embarrassment," he said. "I should imagine it has caused conflicts in relationships."He added that he would struggle to repay the money back to HMRC."The impact will ultimately be debt. A loan will have to be taken out to cover the payments or a credit card," Mr Lucas said. He confirmed that there was no police contact after Apostle's letter claiming they had reported Lucas said he was "bitter" and that he was "really upset with the tribunal's decision". The judgement included an email sent by Apostle to Mr Lucas, after he had complained to the said: "The police have been informed of your threats and harassment and so has our solicitor."Mr Lucas told the BBC the police had not spoken to letter was "factually inaccurate and threatening" according to the directors of Apostle Accounting, Zoe and Martin Goodchild, have so far not responded when contacted about Ms Goodchild - who now appears to use the name Zoe Payne - had denied any wrongdoing. 'Acted deliberately' Former Apostle clients collectively ended up owing millions of pounds back to HMRC according to calculations seen by the company has since been wound up and is currently in latest judgement from the Upper Tier Tax Tribunal said it had "little doubt that Apostle acted deliberately in submitting tax returns containing the excessive and unallowable expense claims". Tax lawyer Dan Neidle, who has highlighted the tribunal judgement to his social media followers, told the BBC: "The judge saw an email trail which made clear that Apostle submitted false claims without their client's authority."Sadly today anyone can call themselves a tax agent and file a tax return - and you're responsible if they get it wrong, even badly wrong.""So I would advise only using an agent that's regulated by one of the accounting or tax bodies - the Chartered Institute of Taxation (CIOT), The Association of Taxation Technicians (ATT) or the Institute of Chartered Accountants in England and Wales (ICAEW)". A police inquiry into the scandal has now entered its third year. In 2024, officers from the Eastern Region Special Operations Unit (ERSOU) carried out searches of a commercial unit and two residential homes in Stowmarket as well as an office in a new statement, a spokesman for ERSOU said: "Our enquiries remain ongoing in relation to allegations of fraud involving a business in Stowmarket, Suffolk, and investigators are working closely with partner agencies to establish what offences may have been committed."Anyone who believes they have been defrauded is encouraged to report it by contacting Action Fraud online at or by calling 0300 123 2040."HMRC said it does not comment on individuals or companies. Follow Suffolk news on BBC Sounds, Facebook, Instagram and X.