News

A man in Australia who has claimed the country's taxation laws do not apply to him because he does not accept recognition as a person has been told by a magistrate that his argument "would make a mockery of the law". Glen James Polglaise, of North Bendigo, Australia, failed to submit six tax returns

Audit giant KPMG has been hit with another £5m fine after failing to identify that bank BNY Mellon was mixing £1 trillion of clients’ savings with its own funds, contrary to rules and leaving customers exposed to the risk of losses. The fine means KPMG has paid £21m since Jun

Lloyds has been ordered to pay £140m to Edinburgh-based investment firm Standard Life Aberdeen (SLA) after a row over a £109bn pension fund. An arbitration tribunal said the bank must now pay up after cancelling a deal early which it had with SLA’s predecessor company Aberdeen

Royal Bank of Scotland has approached senior HSBC executive Ian Stuart about replacing outgoing chief executive Ross McEwan, according to reports. Ian Stuart is chief of HSBC’s operations in the UK and the Financial Times said he is one of the leading external candidates to succeed Mr McEwan.

Profits in Scotland’s legal sector have fallen by over a quarter in the last ten years, according to Scottish accountancy firm French Duncan. Accountants and business advisers French Duncan compared the most recent Law Society of Scotland Financial Benchmarking report for 2018 and compare

Penalties imposed by Revenue Scotland (RS) over the late filing of a land and buildings transaction tax (LBTT) return have been quashed after the tax agency failed to produce evidence that it had taken a decision to impose the penalties, as required by legislation. The Upper Tribunal

Royal Bank of Scotland subsidiaary NatWest has unveiled its inaugural #PowerUp Index of what it says are the 100 best and brightest businesses who have successfully emerged from its 2018/2019 NatWest Entrepreneur Accelerator cohort.

House prices in Aberdeen city and suburbs are down 3.8 per cent on last year, according to new figures.

A delay of up to seven months in HMRC’s processing of R&D tax relief claims is preventing some UK companies from progressing expansion plans or making further investment into innovation. According to Jumpstart, one of the UK’s leading R&D tax relief specialists, the backlog of cl

International law firm CMS has secured sponsorship of the Scottish chapter of Startup Grind, a global initiative aimed at supporting fledgling entrepreneurs. Startup Grind is the largest independent start-up community, actively focused on educating, inspiring, and connecting more than 3.5 million en

Residents from a New York condo have paid $11 million to developers to stop the construction of a proposed neighbouring tower to protect their view from being interrupted.

Edinburgh-based financial services giant Standard Life Aberdeen (SLA) has moved to put down reports that Martin Gilbert was stepping down from the firm's board. The co-founder and former Aberdeen Asset Management (AAM) chief executive, now vice-chairman of SLA, had been linked with the chairmanship

The number of corporate insolvencies in Scotland fell by 15 per cent in April-June 2019 compared with the previous quarter, and fell by 2 per cent compared with the same quarter the previous year (April-June 2018), latest data from the Accountant in Bankruptcy. However, figures also s

Law firm Shoosmiths has today announced its financial results for 2018/19, with revenue up seven per cent year-on-year to £137.6 million and net profit up six per cent to £37.9 million. Commenting on the results, Simon Boss, CEO of Shoosmiths, said: “The market continues

Minister for Local Government, housing and planning Kevin Stewart has announced the appointment of Elma Murray as deputy chair of the Accounts Commission for Scotland. Ms Murray was chief executive of North Ayrshire Council from 2009 to 2018 and has a local government career spanning around 35 years