HMV suspends plans for new shops as Budget hikes costs Retail HMV has suspended plans to open more new stores next year, blaming the decision on the government’s tax-raising Budget. The company planned to open multiple shops in the UK in 2025, but HMV’s owner Doug Putman told The Telegraph yesterday that this proposal was now on hold following the Budget. Confirming the decision, Putman told [...]
Family-run coach firms reeling from inheritance tax overhaul Transport and infrastructure While there are a handful of national players, around eight in ten small and medium sized coach operators in Britain are family-owned.
Homeowners face massive inheritance tax hike after Budget hit Business London homeowners are going to be hit with an eye-watering 1,840 per cent increase in inheritance tax (IHT) liability, as a direct result of Rachel Reeves’ Budget changes, it has been calculated. A single homeowner in the capital with an averaged priced home of £525,586, with the same amount in their pension, will have a [...]
Surge in government borrowing raises threat of more Reeves tax hikes, economists warn November 21, 2024 A sharp rise in government borrowing costs fuelled by pay rises for public sector workers and rising debt payments has raised the threat of future tax hikes, according to economists. Borrowing rose to £17.4bn last month, marking the second highest October figure since monthly records began, according to official figures. The Office for National Statistics [...]
Inheritance tax receipts rise as Brits warned to ‘make plans to pass on wealth’ November 21, 2024 Inheritance tax receipts have risen again as experts are warning Brits to better plan for the passing on of wealth, after the Autumn Budget changes. Fresh figures released this morning show inheritance tax receipts for between April and October of this year are £5bn, which is £500m higher than the same period last year. This [...]
Borrowing in October hits second-highest on record after inflation blow November 21, 2024 The government borrowed £1.6bn more in October than the previous year, making it the second-highest figure for the month in more than 30 years. The government’s borrowing – the difference between spending and income – hit £17.4bn in the last month, the Office for National Statistics said this morning. The body said the government’s current [...]
Hospitality firms are bracing for the return of inflation November 21, 2024 October’s inflation figure has worried hospitality firms. While it is not too far above target – 2.3 per cent versus the sweet spot of two per cent – and one month does not constitute a trend, it has exacerbated concerns companies already had about the future of their industry. There are two reasons hospitality is [...]
What should an office for value for money do? November 21, 2024 There's no point in raising money if it won't be spent well. Joe Hill lays out how the office for value for money could actually help.
Allica Bank-backed start-up sets out to ‘protect’ UK family firms November 20, 2024 A new start-up set out to protect the legacies and values of Britain’s family businesses has secured its first ever acquisition and funding round backed by the UK’s fastest growing firm Allica Bank. Astra Holding, founded by entrepreneurs Amit Rai and Sergey Sushentsev earlier this year, has announced the acquisition of Hull-based industrial doors supplier [...]
Inflation surprise scuppers hope of Christmas interest rate cut November 20, 2024 A bigger than expected rise in inflation last month has all but scuppered hopes of a cut to interest rates by the Bank of England in December. While economists had been expecting rising energy prices to push inflation beyond the Bank of England’s two per cent target last month, a sharper than expected lift in [...]