News

The head of Scottish Financial Enterprise has urged the Scottish Government to reconsider its income tax structure and bring thresholds closer to those used elsewhere in the UK. He believes the current approach discourages skilled workers and overseas talent, particularly as Scottish taxpayers begin paying higher rates at lower income levels. The warning comes ahead...

Gold bullion firm Direct Bullion has confirmed that a winding‑up petition issued by HMRC has been withdrawn after an administrative issue was resolved. The company’s chief executive stated that the matter arose from a minor error that has since been corrected. Direct Bullion said it is working closely with HMRC to ensure compliance and bring...

Businesses across the UK’s hospitality and leisure sector are preparing for significant financial pressure as reforms to business rates take effect from April. Seasonal attractions, hotels, pubs and restaurants are expected to see notable increases, raising fears of higher prices, reduced staffing and potential closures. Industry analysis suggests that popular festive destinations and visitor attractions...

The Treasury has confirmed plans to introduce new legislation that will bring cryptocurrency firms under the oversight of the Financial Conduct Authority from 2027. The proposals aim to regulate digital assets such as Bitcoin in a similar way to traditional financial products, strengthening consumer protection and improving market transparency. Ministers say the move will help...

UK property sellers have lowered their expectations, with average asking prices falling by around £2,000 compared with the same period last year. Property platform data suggests the decline is linked to uncertainty surrounding possible tax changes ahead of the Budget, causing hesitation among both buyers and sellers.   Disclaimer The information on this Blog is...

EY and two member firms are under investigation by the Financial Reporting Council (FRC) for issuing auditor reports without proper approval. The audit watchdog said reports were issued to unnamed entities without proper approval from a senior statutory auditor. The FRC’s Conduct Committee decided to open the investigation in July and it will be conducted...

Chancellor Rachel Reeves says she and Prime Minister Keir Starmer collaborated closely on the Budget and the Government’s tax plans, saying: “We took him through all of the numbers and options and we decided it together as a team.” This came as MPs on the Treasury Committee quizzed the Chancellor on the decision not to...

Kunal Shah, co-head of Goldman Sachs International, has warned that uncertainty over tax and regulation is hindering small businesses, saying the concerns are causing companies to hesitate on investments and hiring. Noting the impact of the tax burden in the UK, he said the recent Budget “was a focal point for everyone to see again...

Rob Perrins, executive chairman of housebuilder Berkeley Group, has urged the Bank of England to reduce interest rates to 3% by March. He argues that the current rates are too high and hinder economic growth. Mr Perrins noted that speculation around tax hikes ahead of the recent Budget had dampened demand for new homes. He...

As Christmas approaches, HMRC has advised those earning extra income through side hustles that they should be aware of their tax obligations. The tax office has reminded earners to declare income exceeding £1,000 per tax year to avoid penalties. While selling personal items typically does not require reporting, significant sales may incur capital gains tax....