Rachel Reeves is considering tightening inheritance tax gifting rules and raising capital gains tax rates to address a £40bn deficit ahead of the autumn budget.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
UK job vacancies fall 5.8% to 718,000 as labour market slowdown deepens
ONS data shows UK job vacancies fell 5.8% between May and July, the 37th consecutive drop, as pay growth slows and employers cut recruitment across most industries.
UK’s EV and battery push: 1.3m vehicles a year by 2035 and cheaper power for factories
The Government has put electric vehicles and batteries at the sharp end of its Modern Industrial Strategy, targeting more than 1.3 million cars and commercial vehicles a year by 2035 and a home‑grown supply chain from raw materials to recycling.
CIPD urges apprenticeship guarantee for young people as UK labour market cools
CIPD calls for an apprenticeship guarantee for all 16–24-year-olds after ONS data shows falling vacancies, rising employment costs, and weaker youth job prospects.
Oasis tour and ‘lipstick effect’ lift UK spending in July, says Barclays
Barclays says UK card spending rose 1.4% in July as Oasis concerts, summer wardrobe refreshes, and the ‘lipstick effect’ boosted sales despite stubborn inflation.
UK jobs market cools as wage growth slows and vacancies fall amid higher business taxes
ONS data shows UK wage growth slowed to 4.6% in Q2 while vacancies fell for the 37th consecutive month, as businesses warn higher payroll taxes are weakening hiring confidence.
The Entertainer to become employee-owned as founder hands over UK’s biggest toy shop chain to staff
Gary Grant will transfer 100% ownership of The Entertainer to its 1,900 employees via an employee trust, joining a growing list of major UK brands moving to staff ownership.
HMRC admits using AI to monitor taxpayers’ social media
HMRC has confirmed for the first time it uses AI to monitor social media in criminal tax probes, prompting MPs to warn of risks to privacy and potential “Horizon-type” errors.
Pasta Evangelists to open 100 UK restaurants creating up to 1,500 jobs
Pasta Evangelists will invest £30m with franchise partners to open 100 restaurants in five years, creating 1,500 jobs and launching a potential ‘Pasta Apprenticeship’ scheme.
Poundland to close 49 more UK stores as new owners push ahead with restructuring
Poundland will shut 49 more UK branches by mid-September – with 10 closing today – as part of new owner Gordon Brothers’ plan to slim the chain by nearly 70 stores.
Metro Bank co-founder targets super-rich with new family offices bank
Anthony Thomson is launching Family Offices Bank in Jersey to serve ultra-wealthy clients with $30m+ in assets, aiming for 2,000 customers and a $10bn balance sheet by 2030.
Farage faces rising tension with younger Reform voters over net zero stance
Nigel Farage’s hardline climate policies risk alienating younger Reform UK supporters, as polling shows a growing rift over net zero and renewable energy investment.
Ex-army pilot Peter Dilnot tops FTSE 100 ‘fat cat’ pay list with £45m package
Melrose CEO Peter Dilnot has overtaken AstraZeneca’s Pascal Soriot as the UK’s highest-paid FTSE 100 boss after a £45m payout, fuelling fresh debate over executive pay gaps.
Rachel Reeves tipped to target pensions, property and investments in bid to plug £50bn fiscal gap
Finance experts warn Britons to prepare for targeted tax changes on pensions, property and investment assets ahead of Rachel Reeves’ autumn Budget as the Treasury faces a £50bn shortfall.
Self-employed Britons face fines of up to £900 under new HMRC quarterly tax rules
From April 2026, self-employed workers and landlords earning over £50,000 must file quarterly digital tax returns to HMRC or risk fines of up to £900, plus further penalties.
