Angela Rayner has thrown her weight behind calls from regional mayors for the introduction of a local ‘tourist tax’ on hotel stays — a move that risks deepening divisions within Labour’s top ranks and raising alarm among hospitality leaders. The Deputy Prime Minister is reported to be at odds with Chancellor Rachel Reeves over the issue, supporting proposals to allow ...
HM Revenue and Customs (HMRC) collected a staggering £2.2 billion in inheritance tax (IHT) in the first three months of the current tax year, new data released this morning reveals—£100 million more than the same period last year. The increase highlights a worrying trend: more families are being drawn into the IHT trap due to frozen thresholds, rising property prices, ...
The British Business Bank has swung back into profit with a pre-tax gain of £144 million, marking a significant turnaround for the UK’s state-owned economic development institution after two consecutive years of losses. The return to profitability comes as the bank’s investment portfolio increased by 19% to £4.7 billion, driven by stronger performance across its equity and debt holdings. In ...
Remortgaging means taking out a new mortgage to replace your current one. The most common reason people do this is to save money, especially if their current deal has ended and they’re now paying their lender’s often pricey Standard Variable Rate (SVR). But saving money isn’t the only reason to remortgage, there are plenty of others that might be worth ...
The number of Bitcoin millionaires has jumped by more than 15,000 in the first six months of Donald Trump’s second term as President, with new research linking the rise directly to favourable policy shifts and growing market confidence. According to data from Finbold Research, 15,841 new Bitcoin wallet addresses reached millionaire status between 20 January and 20 July 2025, bringing ...
The Advertising Standards Authority (ASA) has upheld four separate complaints against an advert placed by Barry Hurley’s Luxury Lodge Estates Company. The ruling has said that the promotion—published in the Sunday Times Magazine—was misleading and breached multiple sections of the UK advertising code. The advert, which ran on 17 June 2024, invited readers to “own a luxury coastal lodge” and ...
Defence industry leaders say they are “confident” that hundreds of new jobs are on the way, as the UK government increases its military spending and prepares to finalise major procurement contracts. More than 44,000 people across the South West of England are already employed in the defence sector, with over 130 firms depending heavily on Ministry of Defence (MoD) contracts. ...
Burberry’s chief executive has called on the UK government to reinstate VAT-free shopping for international visitors, arguing that Britain could reclaim its title as Europe’s leading luxury retail destination. Joshua Schulman, who joined the iconic British fashion house last year, said overseas shoppers were still avoiding the UK due to the absence of a VAT refund scheme — a policy ...
Chancellor Rachel Reeves is facing mounting criticism over reports that the Treasury is considering a swift sale of the UK’s seized Bitcoin holdings—potentially worth over £5 billion at current valuations—in a bid to plug a £20 billion fiscal gap. The 61,000 Bitcoin, confiscated as part of a 2018 fraud case, could deliver a short-term windfall for the Exchequer. But financial ...
Thousands of small business owners are accusing Santander of breaking its promises after the bank announced it would begin charging £9.99 a month for business accounts it had guaranteed would be “free for ever”. The controversial move affects long-standing customers who signed up to Santander’s Free Banking Forever tariff—accounts that were marketed with a written guarantee of zero banking fees ...