Business

Inheritance tax (IHT) receipts have hit a record high of £8.2 billion in the 2024-25 tax year, as rising asset values and long-frozen thresholds continue to draw more families into the tax net—even before major upcoming changes that will extend liability to pensions and farmland. New figures from HM Revenue & Customs show a significant increase from £7.5 billion the previous year and more than double the £3.8 billion collected a decade ago. Financial advisers...

Chancellor Rachel Reeves has pledged to review a controversial tax loophole that allows low-value goods from Chinese e-commerce giants such as Shein and Temu to enter the UK without paying customs duties—a move aimed at protecting British retailers from unfair competition and goods being “dumped” on the high street. The scheme, known as the “de minimis” rule, currently exempts imports valued at £135 or less from customs duty. The loophole has come under mounting criticism...

US Treasury Secretary Scott Bessent has launched a scathing attack on the International Monetary Fund (IMF), accusing the institution of turning a blind eye to China’s export-led economic dominance and neglecting its core responsibilities in favour of climate and social policy work. In a high-profile speech at the Institute of International Finance in Washington, Bessent criticised the IMF’s latest External Sector Report, which claimed that global imbalances were easing. Describing the report as “Polyanna-ish”, he...

Bank of England governor Andrew Bailey has acknowledged that the United States “has a point” in criticising global trade imbalances, lending support to concerns raised by the Trump administration as the UK grapples with the economic fallout of rising tariffs and geopolitical uncertainty. Speaking at an event hosted by the Institute of International Finance in Washington, Bailey said the central bank was “working through” the potential economic implications of President Trump’s sweeping tariff measures ahead...

UK luxury brands have been hit with fresh disruption after DHL temporarily suspended shipments worth more than $800 to the United States, as a result of escalating trade restrictions imposed by the Trump administration. The logistics giant halted its business-to-consumer deliveries to the US on Monday, citing a spike in paperwork and customs complexity caused by recent White House policy changes. The decision has sent ripples through the UK’s high-end export industry, which relies heavily...

Chancellor Rachel Reeves has ruled out any lowering of UK import standards on food and vehicles, including chlorinated chicken, hormone-treated beef and US-made trucks, as trade talks with the Trump administration enter a critical phase. Speaking ahead of her first official meeting with US economic officials in Washington this week, Reeves made it clear that British regulatory standards would not be up for negotiation as part of any future UK-US trade deal. “We are not...

As a PCO driver, the car you choose plays an important role in how much money you will make. If you drive a regular saloon, you will have limited earning options. On the other hand, driving a larger car like a 7-seater gives you more choices. With that said, 7 seaters are more expensive than regular cars, and not every PCO driver can afford to buy them upfront. That’s where 7 seater PCO car hire...

In the competitive landscape of healthcare diagnostics, MAKO Medical has emerged as a notable success story in North Carolina’s capital. Under the leadership of founder and CEO Chad Price, the company has not only disrupted the traditional laboratory testing model but has also implemented a transformative approach to hiring that prioritizes military veterans. This commitment to veteran employment has become a cornerstone of MAKO Medical’s identity and offers valuable lessons for Raleigh’s expanding healthcare sector....

More than half of global web traffic now comes from mobile devices. People expect websites to load fast, look good on smaller screens, and function without issues. If a site fails to deliver that, most users won’t wait around. For any business trying to grow, mobile optimisation and strong UX are no longer optional; they’re essential. Mobile Usage Has Surpassed Desktop More than 62% of website traffic now comes from mobile devices, and that number...

The Confederation of British Industry (CBI) has launched a new Defence & Economic Growth Taskforce aimed at unlocking the potential of the UK’s defence sector to drive long-term national growth, innovation, and economic resilience. Backed by Chancellor Rachel Reeves and Defence Secretary John Healey, the taskforce brings together top-level figures from across the defence, financial, and investment sectors. It will work at pace to deliver actionable recommendations to the government within 12 weeks, setting out...