The seven-year rule serves as a key strategy for gifting, enabling individuals to minimize their inheritance tax liabilities. Given the current fiscal constraints, it is anticipated that this rule may come under scrutiny from government officials seeking to address budgetary shortfalls. Currently, large monetary gifts are exempt from inheritance tax as long as the donor…
Construction is set to begin on the United Kingdom’s inaugural laboratory skyscraper in Canary Wharf, East London, on Tuesday. This innovative project aims to address the pressing demand for space for scientific researchers. The skyscraper, heralded as Europe’s tallest purpose-built commercial lab facility, is being developed through a collaboration between Canary Wharf Group and Kadans…
This autumn, savers may find themselves benefitting from a competitive banking environment as banks strive to attract new customers. According to Shawbrook Bank and consultancy firm CACI, over two million fixed-rate bonds and ISAs, totaling approximately £73 billion, are set to mature by year’s end. In an effort to retain their clientele, banks may increase…
Oxford Metrics has issued a profit warning, indicating that profits for the upcoming fiscal year will be “materially” lower than anticipated, resulting in a significant drop of around 20% in its share price. The company, known for its smart sensing software, provides technology utilized in creating digital avatars for projects like Abba Voyage, the virtual…
Battery manufacturer Northvolt has announced plans to reduce its workforce by 1,600 jobs, which constitutes approximately 20% of its total global staff. This decision comes as the company faces significant challenges in the electric vehicle (EV) battery sector, including production hurdles, declining demand, and mounting competition from Chinese manufacturers. On Monday, Northvolt, a key player…
Go-Ahead Group, the UK’s largest rail operator, has resumed its dividend payments for the first time since the pandemic, distributing over £80 million to foreign shareholders. Recent corporate filings reveal that Go-Ahead has paid £58 million to shareholders based in Spain and Australia, alongside an additional £26 million to its joint venture partner Keolis, a…
Prepare for critical developments. A significant challenge for the Labour government lies ahead regarding its policies on growth, the environment, and aviation competition: how much will Sir Keir Starmer permit the expansion of London’s five principal airports? Two straightforward decisions have already emerged. In August, the government approved an increase in the annual passenger limit…
Ford and Vauxhall are experiencing significant declines in their electric vehicle sales, leading to a notable drop in market share for these iconic British automotive brands, which have long dominated the UK market. This week, Vertu Motors, the largest publicly traded automotive dealer in the UK, reported difficulties in acquiring popular petrol and hybrid vehicles…
The number of sole traders in Britain has seen a significant decline, decreasing by 4% last year and 11% since 2019, according to official statistics. Partnerships, such as those found in the self-employed sectors like farming, construction, and professional services, experienced an even sharper drop, with an 18% decline observed since 2019. Contrastingly, the trend…