News

HMRC has lost £31 billion to fraud and error, according to annual accounts published yesterday.  However, the figures have indicated that this is the lowest amount ever reported by the tax authority. 

It is estimated that UK banks have prevented more than £1 billion in fraud by rejecting almost 27,000 applications for COVID-19 Bounce Back loans.  The loans been an integral part of the UK Government’s support for small businesses during the pandemic, but concerns are mounting over

A fresh bid is being launched to return Glasgow Prestwick Airport to the private sector.

Finance secretary Kate Forbes has welcomed Chancellor Rishi Sunak's 'long overdue' announcement that the Job Retention Scheme will be extended until March 2021. The Coronavirus Job Retention Scheme (CJRS) will now run until the end of March with employees receiving 80% of their current salary for ho

Three spinout projects from the University of Dundee with the potential to deliver significant healthcare benefits have received more than £250,000 from Scottish Enterprise to support their development. Softech received funding via Scottish Enterprise’s in-year High Growth Spin-out Progr

Tesla's official Tequila has officially launched and sold out at $250 a bottle. 

Bank of Scotland owner Lloyds Banking Group (LBG) has announced it will be cutting jobs as part of its major restructuring programme announced in November last year. The cuts will mainly affect staff working in the bank's transformation and retail banking teams but will see no further branches close

CMS has been appointed to the UK legal panel for Unity Trust Bank, a specialist commercial lender to businesses and organisations that create positive community, economic and societal impact. The firm’s appointment commenced in September 2020 and follows a successful pitch led by James Horton

MIME Technologies, a med-tech spin-out from the University of Aberdeen, has received £248,000 in funding from the Scottish Government to help deliver technology that will support the heavily impacted aviation industry during its recovery from the pandemic. The funding will also help drive

Phil Worms, founder of Glasgow-based Frog Systems has been announced as the winner of this year’s Startup Summit Competition, winning the top prize worth over £65,000. He was declared the winner following a live digital pitch battle in front of 1,000 delegates at this year’s Startu

Research carried out by Pinsent Masons has revealed a continued step-change in support offered to customers grappling with mental health concerns is likely as banks continue to ramp up measures to help consumers manage pressure on finances prompted by the pandemic. The firm's report 'Creating a Cult

Hitachi Capital Vehicle Solutions, one of the UK's largest vehicle finance companies, has told car dealers across the UK that it will refuse loans to people working in the hospitality sector. 

Grant and investment funding of almost £25 million has been committed to 90 innovative, early-stage businesses in Scotland whose growth ambitions were impacted by the onset of the COVID-19 pandemic. The awards have been made via the Early Stage Growth Challenge Fund, part of a £38m packa

Small businesses in the UK are facing huge uncertainty over the future of their finances as further coronavirus restrictions are imposed, according to the Association of Chartered Certified Accountants (ACCA UK) and The Corporate Finance Network (The CFN) SME Recovery Tracker. The tracker found that

Shopper footfall continues to buckle under the weight of the pandemic, as footfall in Scotland's shopping centres was down 33% compared to the same period last year, the Scottish Retail Consortium reports.