HMRC to slap Wimbledon winners Sinner and Swiatek with £1m tax bill July 16, 2025 Wimbledon winners Jannik Sinner and Iga Swiatek will each be slapped with a £1m tax bill by HMRC. Despite not being based in the United Kingdom, Italian Sinner and Pole Swiatek will each be taxed at 45 per cent for winning in SW19 and claiming their £3m prizes. Robert Salter, of audit, tax and business [...]
Electric vehicle grants return, but most buyers will miss out July 16, 2025 The UK government has reintroduced grants for electric vehicles (EVs) in a bid to boost lagging consumer demand, but industry insiders warn that most buyers may be left behind. Unveiled late last week, the new electric car grant will offer up to £3,750 off the price of a new EV, targeting models priced under £37,000 [...]
Cake Box: ‘We do very well when there’s trouble on the high street’ July 15, 2025 Cake Box has managed to find success on the high street at a tough time for in-store retail, consistently outperforming peers in day-to-day goods. Its recipe for success is simple, according to its chief executive Sukh Chamdal: small celebrations – birthday cakes which start at £20 – are one of the last non-essential things stretched [...]
Bank of England looks for jobs data revisions ahead of rate decision July 15, 2025 The Bank of England will be looking out for any revisions to the number of people pushed out of work on Thursday when the Office for National Statistics (ONS) publishes fresh jobs data, with an interest rate decision set to hinge on the extent of the deterioration in the labour market. Last month, the official [...]
Reeves seeks to spark retail investor revolution July 15, 2025 High street banks Barclays and Lloyds will lead an advertising campaign to encourage more Brits into retail investing as part of a wider effort to get savers to boost the UK economy. In rallying calls to financial services, Chancellor Rachel Reeves has unveiled a campaign to encourage savers to invest in stocks and bonds, drawing [...]
Enough with black-hole blaming, Reeves is ignoring low hanging fruit July 15, 2025 Raising taxes and plugging black holes, Reeves's discourse ignores proven (and easier) methods to boost productivity, says Paul Ormerod.
Lloyds Bank-owned firm slumps into the red after huge profits July 15, 2025 Lex Autolease, the car leasing company owned by Lloyds Bank, has fallen into the red two years after posting a profit of more than £500m. The firm, which is headquartered in London, has reported a pre-tax loss of £10.6m for 2024, according to new accounts filed with Companies House. The total comes after the business achieved [...]
Trustpilot: Review site hikes profit outlook July 15, 2025 Trustpilot has upgraded its full-year profit outlook after strong first-half growth in bookings and revenue, driven by robust enterprise demand. The review platform expects to report first-half bookings of $140m (£104.15m), up 19 per cent year-on-year, or 17 per cent at constant currency) with revenue up 23 per cent to $123m. Annual recurring revenue surged [...]
Tax debate goes from comedy to tragedy July 15, 2025 When I suggested recently that we were going to experience déjà vu, with another summer of endless tax rise speculation, I didn’t imagine the experience would be quite so profound. And yet, having already enjoyed the spectacle last year of Labour MPs trying to define “working people” they’re now treating us to a rerun of [...]
Wealth tax would take years to set up, Labour warned July 14, 2025 The introduction of a wealth tax would take years to set up as well as substantial investment in “additional personnel” and tools to track assets, a leading City bank has warned. Cabinet ministers including Keir Starmer have refused to rule out a wealth tax in the last week, with the government preparing for a revenue-raising [...]