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Scottish businesses are losing millions due to mismanagement of international VAT and Customs Duty rules, a tax expert has warned. Veronica Donnelly, head of VAT in Scotland with Azets says that whilst many businesses have knowledge of their obligations, the vast majority do not fully understand the

HM Revenue & Customs (HMRC) is set to replace Barclays with Bank of Scotland-owner Lloyds Banking Group in a significant government banking contract, ending a ten-year agreement. The move, worth £99 million to Lloyds, comes as HMRC awards a new £334m, 12-year contract to a consortium

Dunfermline-based Reward Funding has finalised a £360 million refinance, a crucial step in its plan to expand its loan book to £500m within three years. Advised by international advisory firm Interpath, Reward has received a £100m debut private securitisation from an international

The Scottish government has awarded £400,000 to Citizens Advice Scotland to improve access to help for people struggling with council tax debt. Building on successful pilot schemes funded in 2023-4, the additional funding will enable targeted advice on council tax debt to be provided in six ne

Work on Edinburgh’s new purpose-built student accommodation development can begin in earnest after Vita Group appointed contractors and secured funding for the project.

Nine in 10 (90%) privately owned Scottish firms feel optimistic about their growth prospects as they head into 2025, according to KPMG UK. The Big Four firm's Private Enterprise Barometer survey captured insights from 1,500 private business owners across the UK, including 125 from Scotland, spa

Smaller businesses backed by the Start Up Loans programme have higher survival rates than other businesses, according to an independent evaluation, conducted by SQW working in partnership with Professor Mark Hart, Qa Research and The Data City. The programme, which has provided over £1.1 billi

Ferguson Whisky Limited has secured a new £450,000 funding package from Virgin Money with backing from UK Export Finance (UKEF), to support the purchase of whisky stock, enabling it to expand operations and meet growing international demand. Founded in 2021, the Glasgow-based company is dedica

Burness Paull has made two promotions and one appointment within its corporate tax and share incentives team. Christine Yuill has been elevated to head of tax with responsibility for leading the development of the firm’s corporate tax offering and its growing team of tax lawyers.

The Cyber and Fraud Hub, launched earlier this year by the Cyber and Fraud Centre Scotland to support members of the public affected by cyber and fraud crime, has received a substantial donation to support its first two years from Arnold Clark. This generous donation will allow the hub to continue i

Michael Cox and Cameron Knaggs discuss a new and much-needed form of security in Scotland. Modern day businesses can have various significant moveable assets that they would like to utilise for the purpose of raising bank finance. For example, many technology businesses are rich in intellectual prop

The company behind plans drawn up by Silicon Valley billionaires for an $800 million (c. £620m) utopia in central California have been forced to put the project on hold after the release of a report highlighting huge potential costs to taxpayers. California Forever had promised

Women are starting and running new businesses at virtually the same rate as men for the first time, while one in five entrepreneurs are non-white, according to new analysis of entrepreneurship activity in Scotland. The Global Entrepreneurship Monitor (GEM) report found 8.6% of working-age women were

Assetz Capital, a lender in the SME commercial property and residential development sector, has completed a £5 million commercial mortgage to refinance the ibis Styles hotel in Glasgow. David Hehir, the relationship director at Assetz Capital who led the deal, said: "I was delighted to be able

Edinburgh-based biotech firm OGI Bio has secured follow-on funding of £650,000 in a deal led by TRICAPITAL Angels and supported by Scottish Enterprise, Merleview, Apollo, and Old College Capital. The funding will accelerate OGI Bio's expansion in the UK, EU, and US biotechnology sectors.