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Social security expenditure in Scotland will total £5.2 billion in 2026-27, according to the Scottish Fiscal Commission’s latest forecast report published today. The amount spent is projected to increase by £1.5bn over the five years due to a variety of reasons including an increas

The Financial Reporting Council (FRC) has announced sanctions against Big Four accountancy firm EY and audit engagement partner Mark Harvey in relation to the statutory audit of the consolidated financial statements of bus company Stagecoach Group plc. The sanctions concern the audit conducted by th

Money lender Amigo Loans has warned that it may not survive after setting aside £345 million for mis-selling claims. The company, which offers money to those with poor credit ratings, also revealed that its annual losses rose to £284m, compared with £38m in 2020.

NatWest Group has launched a new 'housemate' app to help renters manage shared bills. The new digital tool will allow house sharers to split bills and could help them build their history with NatWest’s data partner, Experian.

Workers who bank with Revolut will be able to draw as much as half of their salary as they earn it weeks before payday under a new service being launched by the lender. The challenger bank, which has 3.5 million UK customers, will charge a flat fee of £1.50 every time a user accesses the pay t

Glasgow-based investment firm N4 Partners (N4) has appointed Benny Higgins as its new chair. Joining as N4’s new chairman effective as of 1st September, Benny Higgins has enjoyed an illustrious career to date working at an array of high-profile organisations throughout financial services begin

New figures have highlighted the impact coronavirus has had on the economy and public spending in Scotland. The Government Expenditure and Revenue Scotland (GERS) 2020-21 statistics show record public spending of £99.2 billion, an increase of 21% on 2019-20. This increase reflects the scale of

The Scottish Illegal Money Lending Unit (SIMLU) has launched a new dedicated advice site to support Scots who are struggling to deal with loan sharks. The unit has also expanded its network of organisations operating in communities that help residents to report illegal loan shark activity safely.

The board of abrdn has announced that Hannah Grove will be appointed as a non-executive director on 1 September 2021 and that Melanie Gee, will stand down from the Board at the conclusion of her second three-year term of appointment on 31 October 2021. Hannah Grove brings more than 20 years of

Halifax has launched a new ultra-low two-year fixed-rate mortgage deal priced at 0.83%. The deal was made available to homebuyers via mortgage brokers yesterday and allows those wishing to take out a loan worth up to 60% of the value of their home.

HMRC has been hit with accusations of “rushing” investigations into people who have allegedly not paid the right amount of tax or are facing fines for late returns after figures released by the tax authority revealed that two in three demands were overturned on appeal. Figures published

Kura, a UK customer service outsourcing business, has created 100 new roles in its Glasgow office, following a new appointment by a fast growing, multi-award-winning financial services firm, to provide customer service support. Kura is now recruiting for 100 new roles across advisory, team managemen

Applications have now opened for a £7.3 million fund to support Scottish food and drink suppliers and producers to invest in future growth. The annual Food Processing, Marketing and Cooperation Grant Scheme (FPMC) will enable investment across a range of projects including buildings and equipm

John Rodger, partner and property specialist at accountants Chiene + Tait, discusses the potential consequences of the new Residential Property Developer Tax (RPDT). As the inquiry into the 2017 Grenfell fire continues, so too do financial repercussions from the tragedy which left 72 people dead.

Standard Life Investments Property Income Trust Limited, a fund managed by Standard Life Aberdeen (SLA), has confirmed unaudited Net Asset Value (NAV) per ordinary share of 88.3p, marking an increase of 3.5% for the first quarter of 2021. This has resulted in a NAV total return, including dividends,