The UK’s 4.3m self-employed workers have been advised to prioritise their tax compliance after official HMRC data shows that the tax authority opened 299,000 tax enquiries last year – a 52,000 jump equivalent to 21% compared to two years before. The statistics, gathered from HMRC’s quarterly performance updates, show that the number of tax enquiries…
The UK, once a magnet for millionaires from the globe’s four corners, is losing its lustre. The past six years indicate a reversal in the wealth migration trend, with the country witnessing an outflux of the affluent and a reduced influx. Simultaneously, the Middle East, notably Dubai, is emerging as a new hub for high…
Britons with second homes in France are facing a “galling” increase in taxes on properties they can visit for only half the year. Owners have already been hit with post-Brexit restrictions that limit visa-free stays in the European Union to 90 days in any 180-day period and the “double whammy” with higher rates is said…
Investors managing £1.5 trillion in assets have warned the government that a lack of clarity on green policies risks stalling investments needed to reach the 2050 net zero target. Ministers have been told that recent signals around key policy areas, including a ban on the sale of new petrol and diesel cars by the end…
Profits for Britain’s services sector companies have fallen for a seventh consecutive quarter, new figures suggest, as businesses continue to struggle under the weight of higher interest rates and stubborn inflation. The latest quarterly services sector survey by the CBI has found that cost pressures and disappointing business volumes drove down profits for the consumer…
The majority of Wilko stores are expected to shut with the loss of thousands of jobs after a white knight failed to step forward to rescue the collapsed retailer. The family-owned household and garden products retailer, which has about 400 stores and employs almost 12,500 people, will leave big gaps on high streets after the…
Last week we saw the second cohort of T Level students receive their T Level results. Introduced in 2020, these new qualifications are giving students the workplace skills they need to succeed. Broadly equivalent to three A levels, the two-year technical course enables young people to gain the qualification they need to go on to…
New research has revealed that nearly half of UK homeowners are considering paving over their front gardens to accommodate an electric vehicle in the future. The poll of homeowners by EO Charging, an independent British charging point manufacturer, looked at how they are balancing the opportunity for greener motoring with the potential loss of green…
Shoplifting has long been a concern for retailers worldwide, but recent events in London have brought the issue to the forefront. In a shocking turn of events, hundreds of teenagers gathered on Oxford Street, expecting to take part in a mass robbery. The incident, fueled by viral posts on TikTok and Snapchat, left shoppers, store…
London’s SMEs are increasing their tech budgets, allocating over half of their annual revenue to technology investments, according to a report by Barclays. In the capital, 64% of SMEs, are turning to technology investments to increase productivity and 43% are doing so to future-proof their company. This is compared to 45% UK-wide. The data revealed…
Elon Musk, the billionaire entrepreneur and CEO of renowned brands such as Tesla and SpaceX, recently acknowledged the potential downfall of X, the rebranded version of Twitter. This confession coincides with a glitch that led to the disappearance of pictures and links published before December 2014. In a recent post on X, Musk expressed his…
The Confederation of British Industry (CBI) has announced an earlier than anticipated withdrawal from a notable diversity initiative, amidst a backdrop of ongoing turbulence within the organisation linked to allegations of sexual misconduct. This decision has sent ripples through the business community, prompting discussions amongst some of the initiative’s most prominent corporate participants.The CBI had…
The government is encouraging councils to get pubs open earlier on Sunday ahead of the Women’s World Cup final. It comes after pubs called for licensing laws to be relaxed to allow venues to serve alcohol from 10:00 BST ahead of the much-anticipated match. The British Beer and Pub Association (BBPA) wants pubs to be…
Annual energy bills for a typical household are expected to fall slightly to £1,926 from October, according to a new forecast. Consultancy firm Cornwall Insight predicts bills could drop by £148 under a new official price cap set to be announced by Ofgem next week. The energy price cap limits how much suppliers can charge…
Rising interest rates have begun to bite UK companies, with a majority of businesses reporting the weakest output levels in eight months, according to a survey. A monthly business tracker, compiled by Lloyds, found that 13 of 14 sectors said they had suffered from falling new orders last month, citing high inflation and climbing borrowing…
