Growing concerns about tax increases have led nearly 30% of business owners in the UK to accelerate plans to sell their companies, according to new analysis from wealth management firm Evelyn Partners. The survey, conducted among 500 business owners with turnovers of at least £5 million, found that 29% of respondents had sped up their […]
eBay is set to ban the sale of e-bikes and their batteries by private individuals in the UK from 31 October, citing rising concerns over battery fires. From this date, only “eligible business sellers” will be permitted to list these items, though the company has not yet clarified the specific criteria for eligibility. E-bikes, which […]
Three private Christian schools and a group of parents are preparing to launch a legal challenge against the government’s plan to impose VAT on school fees. Emmanuel School in Derby, the Branch Christian School in Yorkshire, and the King’s School in Hampshire, alongside parents, claim that the tax will unlawfully discriminate against faith-based schools and […]
The number of children in private education has dropped by 10,000 over the past year as parents anticipate the introduction of VAT on school fees in January, according to the Independent Schools Council (ISC). The organisation estimates the move could cost the government an additional £93 million to educate these pupils in state schools. A […]
Labour’s plan to impose VAT on private school fees has come under scrutiny after it emerged that a key report justifying the policy was authored by a close friend of a government minister. Matthew Pennycook, a minister in the Department for Levelling Up, Housing and Communities, was reported to have been the best man at […]
Britain is on track to experience the largest exodus of millionaires globally as wealthy individuals flee the country ahead of the Government’s planned crackdown on non-domiciled tax (non-dom) rules. According to analysis by the Adam Smith Institute, the share of the UK population classed as millionaires is expected to drop by 20% over the next […]
The UK risks losing its leadership position in artificial intelligence (AI) without a clear national strategy for data centres, a key player in the sector has warned. Data centres, essential for powering cloud computing and AI applications, have become central to the digital economy. However, without a cohesive plan, the UK could fall behind in […]
Up to 10% of UK farmers may abandon the industry this month as concerns over rising Capital Gains Tax and reduced subsidies mount ahead of the new government’s Autumn Budget, according to Mark Chatterton, Head of Agriculture at Duncan & Toplis accountancy and business advisers. The looming financial pressures have left British agriculture at a […]
Trade unions and campaign groups have criticised what they call a “witch hunt” against flexible working, as Deputy Prime Minister Angela Rayner prepares to launch a major overhaul of employment law designed to give workers greater control over their work arrangements. The proposed reforms are part of the Employment Rights Bill, expected to be tabled […]
David Sullivan, chairman of West Ham United and one of Britain’s wealthiest individuals, has criticised the Government’s tightening of non-dom tax rules, blaming the changes for driving the super-rich out of the country. Sullivan, who is the football club’s largest shareholder, has cut the asking price of his 21,000 sq ft London mansion by £10m […]