HMRC figures suggest Britain’s highest earners have increased pension contributions to reduce tax bills, with workers in the 40% and 45% bands claiming £1.4bn in pension tax relief in 2023/24, marking a £400m increase, year-on-year. Additional-rate taxpayers more than doubled their claims to £806m after the top-rate threshold was cut to £125,140, while many six-figure…

Wall Street bankers have outperformed their City counterparts in bonus growth. The average US bonus reached $154,344 in 2025, marking a 5.85% increase, while bankers in the City saw bonuses increase by 3.5% to hit an average of $154,215, according to Efinancialcareers. The firm said bonus expectations had been “bullish,” with many bankers expecting their…

British households reduced non-essential spending last month due to rising fuel prices and uncertainty from the Iran war. According to Barclays’ consumer spending report, fuel spending rose 1.6% year-on-year, pushing essential spending up by 0.5%. However, non-essential spending growth slowed to 1.1%, with travel spending down 3.3% due to flight disruptions. Jack Meaning, chief UK…

Independent pubs in the UK may vanish by 2041 due to rising operational costs, according to a study by Simply Business. The report puts pubs just behind independent shops on a list of businesses most likely to disappear from the high street. Julie Fisher, UK CEO of Simply Business, said: “These are the businesses that…

Farmers are struggling with soaring fuel costs, which have doubled since the Middle East conflict began. Ashley Jones, chairman of the Cornwall National Farmers’ Union, reported daily concerns from colleagues about their reliance on fuel for essential farming tasks. He warned that high prices could prevent some farmers from planting crops this autumn. Neil Cole,…

The insolvency of Market Financial Solutions (MFS) is projected to cost over £50m amid fraud allegations. Alix Partners, the administrator, is investigating claims that £1.3bn of a £2.3bn loan book is missing. Other firms, including Grant Thornton and Teneo, are involved in the complex case. MFS fell into administration in February after a High Court…