Accell Group, the Dutch owner of Raleigh bikes, has entered insolvency proceedings, with its UK and Ireland arm moving to appoint administrators.
Category: Finance
Financial advice for owners and managers of small and medium sized business SMEs in the UK All your tax, borrowing and administration advice
Citigroup chief ‘worried’ by 48% UK bank tax rate
Citigroup chief Jane Fraser warns that UK bank taxes of about 48 per cent, against 27 per cent in New York, could jeopardise investment in London.
Healey draws up plans to borrow extra £9bn a year for asset stakes
John Healey’s £9bn borrowing plan would fund stakes in infrastructure, housing and business through mayors, with analysts weighing the market impact.
Job creation to replace net zero in £90bn public contract scoring
Public procurement changes will score bidders on jobs and skills rather than net zero from January 2027, as ministers double the social value weighting.
More than 120 MPs and peers call for urgent student loan review
Student loan repayment rules face fresh scrutiny as more than 120 MPs and peers urge Chancellor John Healey to order an urgent review of the system.
Non-dom tax take rose 9% to £13.6bn as numbers fell, HMRC says
New HMRC figures show non-dom tax and NICs liabilities rose to £13.6bn in the final year of the regime, even as the number of claimants fell by 1,200.
EY: UK faces recession in 2027 if Strait of Hormuz stays shut
UK recession risk returns to the forecasts as EY models what a closed Strait of Hormuz would do to inflation, growth and interest rates into 2027.
Blick Rothenberg: US tariffs make UK more appealing to Japanese firms
US tariffs on Japan, set at 12.5%, may make the UK a more attractive investment base, says Blick Rothenberg, as Japan’s June exports rose 19.3 per cent.
Searches for ‘VAT definition’ leap 23% as filing deadline looms
VAT confusion is rising ahead of the 7 August filing deadline, with searches up 23% and half of owners unsure of key terms.
HMRC moves to scrap separate EMI notifications in red tape win
HMRC’s draft Finance Bill scraps separate EMI grant notifications from April 2027, folding them into the annual return. What SME employers need to know.
Families told to hold their nerve as inherited property tax fears swirl
Capital gains tax on inherited property could rise if the ‘uplift on death’ is scrapped. Experts explain why panic selling now could prove costly.
Insolvency Service turns to AI in crackdown on rogue directors behind £800m ‘phoenixism’ problem
The Insolvency Service’s new 50-strong taskforce will use AI analytics to catch directors who liquidate firms to dodge tax, amid an £800m phoenixism problem.
Businesses could be fined for paying their tax on time under new HMRC Direct Debit rules
Businesses could be fined for paying PAYE and VAT on time but not by Direct Debit under HMRC plans. Accountants call it ‘a fine for using the wrong envelope’.
HMRC’s supreme court win drags more LLP members into the employee tax net
HMRC’s Supreme Court win in the BlueCrest case means more LLP members could be taxed as employees, triggering higher income tax and a 15% employer National Insurance bill. What partnerships must do now.
HMRC concedes defeat on referees as decade-long IR35 fight ends
HMRC will not appeal the PGMOL ruling that football referees are self-employed. Dave Chaplin says the decade-long case lays bare flaws in the CEST tool and mutuality of obligation.
