News

UK consumers are set to put away a total of £164 billion worth of savings and investments this year in a sign that coronavirus has permanently changed the nation’s savings habits.

Financial services specialist Caroline Stevenson has joined Burness Paull as head of its dedicated FS regulatory team. The firm said it recruited Ms Stevenson to take advantage of a market in Scotland that has continued to perform strongly throughout the pandemic, but it is facing a new regulatory l

Mackie's of Scotland has seen its operating profits increase by 61% to £3.4 million over the last year as its revenue reached £16.7m. In the year ending 31 May 2020, the firm recorded bumper chocolate and take-home ice cream sales with chocolate purchases increasing by 46% after recipe r

Edinburgh-based property marketing specialist Property Studios has seen its virtual tour business expand during the pandemic, driven by a booming property market where site visits are extremely restricted. Now, Property Studios has recruited an additional eight staff, bringing its headcount to 32 as

Finance secretary Kate Forbes is urging MSPs to back the Budget Bill when it comes before Parliament for the first time today. Ms Forbes stressed that the Scottish Budget 2021-22 – incorporating additional measures outlined to Parliament last week including the extension of 100% rates relief f

Aberdeen-based software firm STC INSISO has signed a partnership agreement with Canadian firm Hatley Engineering and Applied Technologies Inc to distribute their COMET investigation, prevention and root cause analysis package to the Canadian and North American markets. Recently merged STC INSISO pro

One of Orkney’s oldest family bakery firms has moved into a new purpose-built factory on the island of Westray in a bid to boost production and meet growing UK wide demand for its traditional products. WFM Brown Ltd, which trades as The Westray Bakehouse, was established on the island in 1892

All £8.6 billion of consequential funding guaranteed to the Scottish Government for 2020-21 has been allocated to tackling the pandemic, a new budget update has confirmed.

Scottish manufacturing firm Woollard & Henry Ltd (W&H) is to be presented with an award from The Queen’s regional representative for its contribution to international business development. The firm, which specialises in engineering services, has become a multi-award-winning recipient o

A British family are selling a Vincent van Gogh drawing once stolen by the Nazis for a potentially record-breaking price to avoid the prospect of a rise in capital gains tax.

Online retailers who’ve enjoyed a “boomtime” through the COVID-19 pandemic should be forced to pay more taxes to help out those who have suffered, according to Glasgow-based MCC Accountants. The firm said companies like Amazon had enjoyed too lenient a tax regime even before the co

Scottish challenger Alba Bank backed by industrialist Jim Mccoll has launched a £5 million series A funding round. The early-stage investment will facilitate aspiring challenger Bank Alba' transition to second-stage operational status under a restricted license.

HMRC has annoucned that over half a million businesses who deferred VAT payments last year can now join the new online VAT Deferral New Payment Scheme to pay it in smaller monthly instalments.

Standard Life Aberdeen (SLA) has announced it is selling its Standard Life brand to Phoenix Group this year as part of a complex deal. The deal will see Standard Life Aberdeen pay Phoenix Group £115 million.

Bank of Scotland owner Lloyds Banking Group has resumed dividend payments despite reporting a 72% drop in profits. For the year ended 31 December 2020, the bank's profits dropped to £1.2 billion, down from £4.39bn last year. Lloyds Banking Group has also allocated £4.bn to cover fu