‘Grotesquely unfair’: 700,000 Brits caught in 60 per cent tax trap October 2, 2025 There are growing calls for the government to overhaul tax rules for top earners after fresh data obtained by City AM revealed just under 700,000 Brits are now caught in the so-called 60 per cent tax trap. Another 74,000 taxpayers were added to the punitive £100,000-£125,000 income bracket during the 2024/25 tax year, according to [...]
Remove windfall taxes on North Sea oil, bosses tell Rachel Reeves October 2, 2025 Chancellor Rachel Reeves should abolish windfall taxes on oil and gas producers in the North Sea, top bosses have said. In a new report setting out UK businesses’ proposals for the Budget, the Chancellor has been urged to focus on cutting energy costs for firms and set out a clearer plan for the North Sea’s [...]
Wealth managers warn against kneejerk reactions to Budget speculation October 1, 2025 Investors are being urged not to make any kneejerk pension decisions which could lead to irreversible consequences, as the Budget rumour mill begins to stir up financial worries. Wealth manager Rathbones has warned that fears over pension tax changes have caused another surge of premature withdrawals of the 25 per cent tax free lump sum. [...]
Revolut, Barclays and Monzo top fraud complaints ranking October 1, 2025 Challenger banks Revolut and Monzo have topped the rankings for fraud and scam complaints filed to the Financial Ombudsman Service (FOS) as Brits flock towards digital offerings. Fintech juggernaut Revolut received the most amount of APP fraud complaints referred to the FOS at 1,875. Monzo scored third at 1,063. It comes as the pair continue [...]
Manufacturing sector breakdown worsens amid ‘dearth of export work’ October 1, 2025 A breakdown in activity across the manufacturing sector has deepened as new data has shown export work coming to a halt and investment falling flat. S&P Global’s purchasing managers’ index (PMI) for manufacturing in September showed the sector was still struggling to bounce back despite some quiet optimism in recent months. Activity in the sector [...]
Rolex: Property buys pay off as UK profit nears £100m October 1, 2025 Profit at the UK arm of luxury watch brand Rolex jumped towards the £100m mark during its latest financial year thanks to a trio of investment properties. The London-headquartered division has reported a pre-tax profit of £96.2m for 2024, new accounts filed with Companies House have revealed. The total is up significantly from the £65.8m [...]
Selfridges: Losses slashed despite revenue hit October 1, 2025 Losses at luxury department store chain Selfridges have been slashed during its latest financial year despite its revenue taking a hit. The business, which has UK stores in London, Birmingham and two in Manchester, has posted a pre-tax loss of almost £16m for the 48 weeks to 4 January, 2025. The latest figure comes after Selfridges’ [...]
Close Brothers looks to ‘accelerate’ after ‘messy’ year October 1, 2025 Close Brothers is hoping to switch gears and “accelerate” after the motor finance scandal had the bank stuck in a rut. The specialist lender’s share price has swerved between a low of 185.00 and peak of 555.00 over the last 12 months. The car misselling saga has been the driving force of stock woes, sending [...]
Taxing gambling is a desperate cash grab that Labour will regret October 1, 2025 Long a scapegoat whenever the Treasury needs quick cash, Labour will regret taxing the gambling industry, writes Oliver Dean.
Tax hikes push firms to automate jobs, says top UK recruiter October 1, 2025 Tax hikes and wage pressures are putting Brits at risk of losing roles to automation and offshoring, a top UK recruitment firm has warned. Hays has warned Britain is becoming “unattractive to hire people permanently” as employer costs mounted over the last year. “Wage pressures and national insurance changes are pushing employers to explore automation [...]