Bolt set for £190m VAT bill after legal defeat Tax Ride-hailing platform Bolt has been refused permission to appeal a case brought by HMRC over how it calculates and pays its VAT. This follows HMRC winning an appeal in June against the Estonian tech giant over its VAT payments and calculations, overturning earlier decisions that had ruled in Bolt’s favour. The tax authority brought the [...]
Volkswagen takes £725m hit from motor finance scandal Banking The finance arm of Volkswagen has taken a mammoth hit from the motor finance scandal plunging it to a loss for the year. Volkswagen Financial Services UK (VWFS) set aside £725m for expected expenses under the City watchdog’s industry-wide car finance redress scheme, according to new account filings. The provision swung the firm to a [...]
Chinese car sales top 300,000 in Britain this year as European rivals lose ground Motoring More than 300,000 Chinese cars have been sold in the UK so far this year, setting a fresh record as European rivals lose ground. Chinese carmakers made up five of the top 25-performing brands in the first nine months of the year, data from The Society of Motor Manufacturers and Traders (SMMT) has revealed, accounting [...]
Motonovo hikes motor finance provision as buyers circle Aldermore September 30, 2026 Car finance firm Motonovo has ramped up its provisions for the motor finance scandal as top banks and private equity firms explore a takeover of its parent company Aldermore. The Cardiff-headquartered company recognised a £153.2m charge in its latest accounts for historical motor finance commissions. This was more than double the £60.6m recorded last year. [...]
VW-backed car hire giant plunges to £43m loss as tax hikes bite September 25, 2026 One of the UK’s biggest car hire businesses has taken aim at government tax hikes after it plunged to a £43.2m loss. Europcar UK, which is backed by German carmaker VW, recorded a profit of £7m in 2024 but its fortunes went into reverse gear a year later amid rising costs and weak demand. Europcar [...]
Class action vehicle lawsuit settles at £55m less than original value September 24, 2026 A class action lawsuit representing millions of UK motorists and businesses affected by inflated shipping fees has settled for £57m less than its original £150m target. The claim, brought by class action representative and former Which? campaigns specialist Mark McLaren, alleged that from October 2006 to September 2015, leading European shipping companies had breached competition [...]
What is Polestar’s Formula 2030, and why does it matter? September 18, 2026 Polestar will reveal its Formula 2030 concept in October, previewing the next Polestar 2 and Polestar 7 as the Swedish-Chinese EV maker looks to grow sales and move towards profitability. This is the first clean-sheet design produced under design chief Philipp Römers, who joined Polestar in January 2025, and it will preview two of the [...]
Addison Lee founder defeated in £20m non-dom tax dispute September 18, 2026 The founder of premium minicab firm Addison Lee has failed to overturn a £20.5m tax bill from HMRC after arguing that he should be treated as a non-dom in spite of having lived in England for most of his life. Sir John Griffin, aged 84, who was born in England in 1942 to Irish parents [...]
Santander and BMW in High Court spat over motor finance dispute September 16, 2026 Santander and Volvo are taking BMW to the High Court over a dispute related to motor finance deals, City AM can reveal. The Spanish banking giant, along with Volvo Financial Services, is claiming the carmaker caused damages after auto dealers unlawfully re-sold the same luxury vehicles to BMW, leaving both firms claiming ownership over the [...]
Is the Alpine A390 the most interesting electric SUV? September 14, 2026 Alpine has taken a very different approach to the electric SUV with the A390, but does its mix of performance, range and style make it a better choice than more established rivals? Why the Alpine A390 is different Alpine has taken a slightly unusual route into the electric SUV market with the A390, a car [...]