By: Ali Lyon

Chief reporter Ali Lyon is the chief reporter at City AM, responsible for covering the full gamut of business, finance and wealth news. He has been at City AM full-time since July 2024. Get in touch with tips via email: ali.lyon@cityam.com. Follow Ali on X: @alilyon_94

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Calls for audit reform grow after ISG found to owe £1bn

November 3, 2024

Construction giant ISG collapsed with debts over a billion pounds, newly published filings have shown, prompting fresh calls for audit reform. ISG, which specialised in delivering government contracts projects like London’s velodrome, went bust in September after attempts to secure a rescue deal failed. The demise of ISG was the largest and most significant collapse [...]
Scrapping non-dom regime branded ‘monumentally stupid’ by tax advisors

November 1, 2024

Several leading tax and wealth advisors have told City AM that scrapping the non-dom regime without a suitable replacement is a “monumentally stupid decision” that has already prompted some non-doms to leave. One of the key measures introduced in Wednesday’s budget was abolishing the non-dom status, a regime that allowed certain tax breaks for people [...]
Salon chain owner breaks down over National Insurance rise

October 31, 2024

The owner of a chain of salons broke down on Sky News on Thursday when talking through how some of the measures introduced in the Budget will affect small businesses like his.
Autumn Budget 2024: Sunak slams Labour for being dishonest with the British public

October 30, 2024

Rishi Sunak has slammed the government for "not being straight with the British people", and argued that Labour's Budget is "saddling our children and grandchildren with billions upon billions of debt".
Autumn Budget 2024: Labour abolishes non-dom tax status

October 30, 2024

The Labour government has confirmed plans to scrap the non-dom regime despite a last ditch effort from the community and its advisors to warn against the move. As part of the Budget, Rachel Reeves confirmed she would fulfil the promise made in Labour’s manifesto to remove the tax status, in a move that one advisor [...]
Wealth tax ‘could cost the UK £100bn in 10 years’

October 29, 2024

The UK is especially vulnerable to the ill effects of a wealth tax and could suffer a near £100bn hit to its GDP in a decade were one introduced, a paper out today has argued. A two per cent tax applied to those with a net wealth of £10m would incur a 0.4 per cent [...]
Inside UK non-doms’ battle for survival

October 26, 2024

Had a passer-by inadvertently walked into Foreign Investors for Britain’s inaugural press conference earlier this month, they would have been forgiven for thinking they’d encountered an incongruous group therapy session. At one stage, an eastern European property tycoon asked the room: “Why am I suddenly being treated like a tax cheater? I’m being painted out [...]
Private equity tax grab could raise nearly £1bn, study finds

October 26, 2024

Bringing the tax on profits earned by private equity bosses in line with income tax could raise up to £1bn, a fresh study from a respected think tank has found. Researchers from the Centre for the Analysis of Taxation’s (CenTax) estimate that taxing carried interest – often referred to as ‘carry’ – at the same [...]
Starmer: People who receive income from shares aren’t working people

October 25, 2024

Sir Keir Starmer has said that people who get additional income from shares or other assets do not count as 'working people'.
Rachel Reeves’ carry tax hikes are sensible, says private equity boss

October 24, 2024

Rachel Reeves’ plans to tax private equity partners more onerously are sensible and concerns about them triggering an exodus of dealmakers from London have been overdone, a private equity boss has said. Rami Cassis, chief executive and founder of private equity boutique Parabellum, threw his weight behind the chancellor’s plans to bring carried interest – [...]

Pep Guardiola to stay on CFG payroll after quitting Manchester City

Pep Guardiola to stay on CFG payroll after quitting Manchester City

Jinkx Monsoon’s Judy Garland musical proves drag is serious art

By: Ali Lyon

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