London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
UK distilleries on the rise as craft spirit craze continues November 12, 2018 The number of distillery businesses in the UK soared 30 per cent in a single year as demand for craft spirits grows, according to figures published today. Distilleries rose in number from 131 in 2016 to 170 in 2017, reflecting an increased appetite for unusual flavours and local spirits produced by boutique distilleries. Accountancy firm [...]
Break the chain: Spotify backers fund estate agent Nested November 11, 2018 An estate agent that helps homeowners buy their next property chain-free has received £120m from the backers of Spotify, Betfair and Revolut. Nested gives homeowners a cash advance of up to 94 per cent of their property’s value, allowing them to buy a new home before completing a sale. The rest of the value is [...]
The government is finally turning its attention to the housing crisis, but what’s missing? November 8, 2018 There's no question that the housing market is in need of drastic reform. So it was welcome news last week when the chancellor announced that the government was turning its attention to reforming the supply side of the market through a £500m Housing Infrastructure Fund and British Business Bank guarantees for SME house builders. In broader terms, there seems to [...]
In a rare move, HMRC is refunding some parents who were liable for the child benefit charge – here’s what you need to know November 8, 2018 It is unusual for HMRC to admit that it has been too heavy-handed, so last week came as a welcome surprise to many parents who have been hit with fines in relation to child benefits. If you are responsible for bringing up a child under 16 (or under 20 if they are in education), you [...]
HMRC fights firms for years in toughest tax cases November 5, 2018 UK authorities have found themselves caught in several tax trench wars, as the average age of unresolved tax battles with the UK’s biggest businesses climbs. In the year to the end of March, HMRC’s open tax battles rose from an average duration of 34 months to 39 months, meaning many cases are taking over three [...]
HMRC to sue General Electric for £770m over tax relief claims November 4, 2018 American industrials giant General Electric is being sued by HM Revenue & Customs over allegations it wrongly claimed tax relief amounting to $1bn (£770m). HMRC has accused GE of wrongly claiming tax deductions from 2004 to 2015. The tax man has informed GE that it intends to disallow interest deductions to its financial services arm, GE Capital. Interest deductions reduce the [...]
Returns from peer-to-peer lending look attractive, but is it a sensible sector to invest for retirement? November 1, 2018 Peer-to-peer lending (P2P) has long been deemed by many professionals in the conventional investment industry as too risky for retail investors. And yet, this technology driven form of lending has surged in popularity over the past decade, which is largely a result of the sector offering a decent return where other asset classes have struggled. [...]
Ebay predicts fourth quarter surge in profits October 30, 2018 E-commerce giant Ebay forecasted a rise in fourth quarter profits above analyst estimates tonight, despite its rival Amazon announcing last week that its profits will disappoint across the upcoming holiday period. Shares in Ebay, which also beat estimates on profit for its third quarter, rose six per cent in after-hours trading. Net income for the [...]
HMRC to be made preferred creditor in tax avoidance crackdown October 29, 2018 A range of measures designed to crackdown on tax avoidance and evasion with a view to raise £2bn over the next five years have been announced by the government. HMRC will be made a preferred creditor in insolvencies, Chancellor Philip Hammond announced today. The government will end the practice of purchasing services through offshore countries and introduce a [...]
Patisserie Valerie’s suspended finance director Chris Marsh quits as accounting probes continue October 26, 2018 Patisserie Valerie’s finance director quit the company today, the cake shop told investors. Chris Marsh, who was suspended from his role earlier this month when the sweet treats baker warned it had spotted potentially fraudulent accounting irregularities, has resigned with immediate effect. “Following the suspension of Chris Marsh on 9 October 2018, the company has [...]