News

Troubled UK government plans to digitise the income tax self-assessment process are being delayed for a further two years, according to reports. Making Tax Digital for Income Tax Self Assessment (MTD ITSA) was set to be introduced from April 2024 but the government is expected to announce the deadli

A staggering £9 billion in revenue was lost by HM Revenue & Customs (HMRC) during the pandemic due to the redeployment of thousands of tax compliance staff to other departments, a report has found. The National Audit Office (NAO) today published its report on tax compliance during and foll

Scottish business leaders have welcomed the government's decision to freeze business rates for a further year. The basic property rate, known as "poundage", will be frozen at 49.8p, deputy first minister and interim finance secretary John Swinney confirmed yesterday. This is estimated to save ratepa

Tax increases on higher earners in Scotland have entrenched the divergence in income tax regimes north and south of the border, financial experts have said. John Swinney, the deputy first minister and interim finance secretary, yesterday announced an increase in the higher and top rates of income ta

Tax expert Kalvir Sangha has been appointed to the board of directors of baroque ensemble Dunedin Consort. Mr Sangha has over 25 years' experience across tax, finance and strategy. He has held senior roles in practice during his career, including partner at RSM where he co-led the UK M&A tax pra

BrewDog Distilling Co’s first ever whisky cask sale has broken a new record to become Whisky hammer's best performing whisky cask auction to date.

The Bank of England's (BoE) Monetary Policy Committee (MPC) has voted to raise the base interest rate from 3% to 3.5% - the highest rate for 14 years. The MPC voted by a majority of 6-3 to push up the bank rate, this is the ninth time in a row the rates have been increased.

Real estate advisor CBRE has completed the sale of Dumfries Retail Park on behalf of a local government pension fund for £11 million.

Scottish Enterprise’s support is forecast to generate £709.74 million of Scottish innovation expenditure. The agency approved £120m in grant funding and equity investment for innovation activities in the 2021-22 financial year, which is now calculated to deliver a further £50

A Scottish sustainable packaging pioneer has clinched the EY Entrepreneur Of The Year 2022, UK Transformational Leader title. Glasgow-based David MacDonald, owner of Cullen Eco-Friendly Packaging, won the hotly-contested national award at the recent EY Awards ceremony in Manchester. A panel of entre

The average price of a property in Scotland in October 2022 was £194,874, an increase of 8.5% on October 2021 and 1.1% compared to the previous month.

Financial projections for Scotland's Registered Social Landlords (RSLs) show aggregate financial performance should remain robust over the next five years however RSLs also continue to face a very challenging operating context, a new report by the Scottish Housing Regulator (SHR) has found.

Edinburgh-based manufacturer of golf technology and improvement products Shot Scope has raised £2.7 million in a series A funding round headed by Guinness Ventures which invested £2.1m. The round also includes investment from the Scottish Investment Bank, Old College Capital – the

Scottish business Theraplay, which has been designing and manufacturing bespoke bikes and trikes for physically disadvantaged children and adults for more than 50 years, is aiming for global growth after accessing specialist support through Business Gateway.

Scottish broadcasting giant STV Group has posted a trading update revealing a 'solid year' for the company, despite flat profits. Profits were almost flat at -1.5% over the year, against the record £25.2 million reported in 2021.