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Industry issues carbon tax warning
The closure of Britain’s last coal plant in 2024 has been attributed to carbon taxes rather than renewable energy advancements. The Government doubled the carbon tax in 2015, significantly impacting coal’s viability. Sir Jim Ratcliffe, CEO of Ineos, argues that these taxes are “killing manufacturing” and increasing reliance on imports. Experts argue that these taxes…
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FCA tightens rules for payment firms
The Financial Conduct Authority (FCA) has announced that stricter regulations for electronic payment firms will come into force in May 2026. The new rules say companies must separate customer funds from their own, ensuring refunds in case of firm failures. The City watchdog says firms will face annual audits by qualified auditors, monthly reporting, and…
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Mortgage arrears fall in Q2
Missed mortgage payments fell by 4.4% in Q2, according to a report by credit manager Pepper Advantage which also found that direct debit rejections were down 5.1%. This marks the first quarter since the pandemic where both have declined. The analysis also shows that new loans were down 3.2%, with this driven by the end…
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VAT warning over private healthcare
The Independent Healthcare Providers Network (IHPN) has warned that imposing VAT on private healthcare could lead to increased NHS waiting lists and push patients towards unsafe foreign treatments. David Hare, IHPN’s chief executive, said that if even a small number of patients are priced out of private care, the NHS would face a surge in…
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HMRC warns of stamp duty scams
HMRC has warned home buyers about fraudulent firms offering to reclaim stamp duty on properties needing renovation by falsely classifying them as non-residential. Anthony Burke, HMRC’s deputy director, cautioned buyers against allowing agents to make repayment claims on their behalf, stating: “If the claim is inaccurate, you could end up paying more than the amount…
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Gold rush: Investors flock to bullion
New capital gains tax rules are driving a surge in gold investment, according to Solomon Global. The firm reported a 72% increase in inquiries from private investors between H2 2024 and H1 2025. Paul Williams, managing director, noted that 41.9% of potential investors cited gold’s tax-free status as their main motivation, up from 37.5% previously….
