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The expected bill for unsustainable debts to UK firms has dropped by £10 billion to 'only' £20bn, according to TheCityUK. TheCityUK’s Recapitalisation Group (RCG), supported by EY, has today published updated projections for levels of unsustainable debt faced by SMEs.

Police have found more than £500,000 worth of cannabis in underground bunkers on a farm in Lincolnshire.

The UK Government has today appointed Pauline Wallace as the inaugural chair of the UK Accounting Standards Endorsement Board (UKEB). Ms Wallace has over 30 years’ experience in the development of accounting standards, both as a practitioner and as a standard setter.

MHA Henderson Loggie has welcomed 11 new recruits to its trainee programme. Graduates Claire Don, Ewan Shiels, Euan Woodley and Adam Graham will join school-leavers Colette Swinley, Archie Williams and Wallis Lynch as trainee chartered accountants in the firm’s audit departments in Dundee

The High Court in London has handed down judgment in a test case concerning how business interruption insurance policies should be interpreted during COVID-19. The court found in favour of the arguments advanced for policyholders by the Financial Conduct Authority on the majority of the key issues.

The Scottish economy contracted by 19.4 per cent in the second quarter of 2020 as the COVID-19 pandemic swept the country, new figures show. Economy Secretary Fiona Hyslop said the figures, which reveal a 21.1 per cent contraction over the year compared to Q2 2019, show the "extremely serious impact

The UK government's Eat Out to Help Out scheme contributed to a "sharp fall in prices", experts have said after it was revealed inflation fell to a five-year low last month. Consumer price inflation across the UK fell from one per cent in July to just 0.2 per cent in August, the Office for National

Scottish retail is showing no return to growth as recovery stalls and sales continue to show a similar level of decline as that seen in July, according to latest figures. A report by the Scottish Retail Consortium (SRC) and KPMG LLP has shown that total sales in August this year decreased by 7.

A Scottish government report has estimated that extending the furlough scheme by eight months could save 61,000 jobs in Scotland. The new research estimates that the direct cost of extending the furlough scheme in Scotland to June is around £850 million, but the wider economic benefits, s

A 90-year-old woman who failed to pay mere pennies in tax nearly lost her home after it was put up for auction by tax authorities.

Aberdeen Standard Investments (ASI) has announced that Mark Redman will succeed Peter McKellar as global head of private markets. After nearly 20 years with the business, Mr McKellar will retire from ASI at the end of Septmeber.

Consultancy and brokerage firm Watts Commercial Finance has expanded its presence in Scotland with the opening of a new national office. Commercial managers Emma Ross and Dean Thomson, two stalwarts of the banking industry, have been appointed to head up the new office.

Scottish accountancy firm Goldwells has announced the acquisition of two Moray firms, Moray Tax Specialists and Chris Banks Bookkeeping. The double acquisition means that Aberdeenshire-based Goldwells now has eight offices across north and north-east Scotland and a presence in Elgin for the first ti

Six entrepreneurs from five Scottish businesses have made the shortlist as finalists competing for the prestigious EY Entrepreneur of the Year UK Award. The five Scottish businesses are among 25 selected as finalists across the UK.

Adam Hardie, head of food and drink at Johnston Carmichael, considers the challenges as the food and drink sector returns to "normal". While the impact of the Covid-19 pandemic has proved devastating for many sectors, small, local food and drink suppliers have been on the right side of an unpreceden