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Michael Reid, insolvency practitioner and managing partner Aberdeen-based chartered accountants Meston Reid & Co, puts the spotlight on wrongful trading. When the Insolvency Act 1986 became the principal law applicable to corporate insolvency in April 1986, there was much discussion around secti

The Royal Bank of Scotland is launching a new savings competition to help encourage first-time savers. The £1000 competition begins in August, with 10 customers each being awarded £1000 for opening an account and then developing a regular savings habit.

Dundee fintech Embark Group Limited (EGL) has been sold to Bank of Scotland owner Lloyds Banking Group for a consideration of £390 million.

Barclays has posted its half-year results revealing a profit before tax of £5.0 billion, compared to the £1.3bn reported at the same time last year. The bank has reported an attributable profit of £3.8bn, against last years figure of £0.7bn.

Scottish building services and construction contractor, McGill has announced that it will now accept cryptocurrency as payment for services delivered. The company has partnered with payment gateway provider, CoinGate, to accept payment in over 50 different crypto coins including Bitcoin, Ethereum, L

One third of audits inspected by the Financial Reporting Council (FRC) still require improvement, according to the latest Annual Audit Quality Inspection Results. In total, 29% of the 103 audits reviewed by the accountancy regulator were found to require improvement or significant improvement. The f

Professional services firm Begbies Traynor has appointed personal insolvency specialist David Tannock as a manager based at its Glasgow office. With more than 18 years’ experience in the insolvency sector, Mr Tannock joins from an accountancy and business advisory services firm in Glasgow wher

With a recent report suggesting that SMEs are chasing £50 billion in late payments in the UK, chartered accountants Wylie & Bisset is advising those struggling with the impact of late payment to agree to different terms with creditors. Know-it, the cloud-based credit management platfo

More than 300,000 tax credits customers have just over one week to renew their claims before the 31 July deadline, HMRC has warned. As the deadline approaches, customers are being urged not to leave their renewal until the last minute and risk their payments being stopped. The quickest and easiest w

Independent business lender White Oak has announced that it will allocate £30 million of lending to businesses across Scotland. The funding is one of White Oak’s regional allocations with the lender set to provide at least a further £275m to businesses across the year.

Scotland’s onshore GDP is estimated to have increased by 0.9% in May as restrictions continued to ease, according to the latest figures published by Scotland's Chief Statistician. However, GDP remains 2.7% below the pre-pandemic level in February 2020.

BP is promising £10 billion of investment and to make Aberdeen its global hub for offshore wind, if it is successful in securing seabed licences around Scotland.

Glasgow-based business angel syndicate Gabriel Investments is searching for more investors after switching from university ownership to being led and owned by its members. Established in 2012, the syndicate has been boosted by support from the University of Strathclyde through its start-up incubator

An arsenal of planned reforms to boost competition and shield the public from rip-offs as the UK builds back fairer from the pandemic have been unveiled by the UK Government's business secretary Kwasi Kwarteng.

Following a Financial Conduct Authority (FCA) review of the practices of debt packager firms, five firms have stopped providing regulated debt advice until further notice and the FCA has used formal powers to stop another firm from providing regulated advice. The FCA has also published correspondenc