Latest Business News
Bank lending to UK businesses has dropped to the lowest level in 30 years
Weak economic growth and tighter regulations on lenders are to blame for the largest drop in bank lending to UK businesses in 30 years, according to new data. A study conducted by Boston Consulting Group showed British bank loans to
HMRC raise mileage rates and allowances
Chancellor Rachel Reeves announced an increase in HMRC’s approved mileage rates for cars and vans from April 2026 for the first time since 2011 in a speech to the House of Commons in May. This news comes as a surprise
Classic cars, jewellery and handbags – How high luxury is accounted for in Inheritance Tax
Inheritance Tax (IHT) is paid on all items of your estate after you pass away if you exceed certain thresholds. Whilst many people focus on their savings, properties and investments, the items you own, commonly referred to as personal chattels,
Government summer savings spree adds complexity to VAT for hospitality and tourism
When Rachel Reeves announced a temporary cut in VAT from 20 per cent to five per cent for family attractions and children’s dining over the summer holidays, the hospitality and leisure sectors broadly welcomed it. The scheme runs from 25
Salary sacrifice cap and the squeezed middle
The £2,000 cap on National Insurance (NI) free salary sacrifice pension contributions was sold as a tax on high earners but, if you look closer, the opposite is true. In fact, the people most exposed are middle-income savers and the
The hidden savings tax trap and why changes to ISAs make it harder to put money away
Do you know what your Personal Savings Allowance is? While most taxpayers in the UK will know the thresholds for Income Tax, a worrying few know the way in which personal savings can be subject to tax. With ISAs set
Struggling with cash flow – Exploring the growing use of asset and invoice financing
There was a time when SMEs relied on their main bank for all of their finance options. Recent economic pressures are leading to more cash flow challenges for SMEs and the old approach may no longer be sufficient. Greater financial
Secured the raise – Keeping an eye on your eligibility for the High-Income Child Benefit Charge
If you have been one of the lucky ones to secure a pay rise this year, be mindful that the High‑Income Child Benefit Charge (HICBC) does not crash the party. How does HICBC work? The HICBC can kick in if
What you need to know about your first quarterly MTD report on 7 August 2026
For sole traders, self-employed individuals and landlords with gross incomes exceeding £50,000 from self-employment or property, you are now mandated to abide by Making Tax Digital (MTD) for Income Tax regulations. Applied from 6 April 2026, these new responsibilities require
UK’s growing insolvency – Building greater resilience in your business
Rising costs seem to be coming at UK businesses from all directions, resulting in many difficult financial decisions needing to be made. New research by the Liquidation Centre found that some employers are opting for job cuts to manage these