The UK is on track to lose more millionaires this year than any other country in the world, according to a new global wealth migration report that underscores growing concerns over the nation’s economic competitiveness and high-tax environment. Henley & Partners, a specialist advisory firm, forecasts that 16,500 millionaires will leave Britain in 2025, more than double the 7,800 expected to exit China — which had previously topped the list for 10 consecutive years. The...
A group of farmers and family business owners is challenging the government’s controversial inheritance tax reform in court, claiming ministers failed to properly consult before announcing sweeping changes in the Autumn Budget. The legal claim, served on Tuesday to Chancellor Rachel Reeves and HMRC, calls for a judicial review of the government’s decision to cap long-standing tax reliefs for farmland and family businesses without a full public consultation. The challenge targets changes to Agricultural Property...
As UK businesses increasingly embrace AI to streamline translation, a critical question arises: Can AI tools be trusted with confidential material? Today, MachineTranslation.com offers a clear answer with the launch of Secure Mode, a new privacy-focused innovation designed for data-conscious professionals. Developed by Tomedes, a global language service provider founded in 2007, MachineTranslation.com is one of the most accurate AI translators. The platform brings together the top-performing machine translation engines and large language models (LLMs)...
Reform UK has unveiled a controversial new policy that would allow wealthy non-domiciled individuals to legally avoid paying UK tax on foreign earnings, income, capital gains, and inheritance — in exchange for a one-off payment of £250,000 every 10 years. The so-called “Britannia Card”, announced by Reform leader Nigel Farage, is being marketed as a way to lure “tens of thousands” of high-net-worth individuals back to Britain by offering them tax certainty and a long-term...
HSBC is facing a costly office space conundrum as it prepares to bring more staff back into the office, despite having significantly downsized its property footprint in the wake of the pandemic. The bank — Europe’s largest — now finds itself with so little planned workspace in London that, once it moves into its new office near St Paul’s Cathedral in 2027, staff will only have enough desks to be present one and a half...
Amazon has announced a sweeping £40 billion investment in the UK over the next three years as it ramps up its commitment to faster delivery, film production and digital infrastructure across the country. The tech giant revealed plans to open four new robotic fulfilment centres, one of which will be located in the East Midlands, with two others already announced for Northampton and Hull. The site of the fourth centre has yet to be confirmed....
A recent decision by the Employment Appeal Tribunal (EAT) serves as a timely warning to employers, particularly small to medium-sized enterprises (SMEs), about the potential pitfalls of redundancy processes. In Hendy Group Ltd v Kennedy [2024], a long-serving employee won his unfair dismissal claim despite accepting both the need for redundancies and the fairness of his selection. The issue? His employer failed to provide active support in finding a suitable alternative role within the company....
Britons are spending more of their disposable income than they were a year ago, with 38% of consumers reporting a rise in non-essential spending, according to a new nationwide study by Bauer Media Outdoor. Despite ongoing cost-of-living pressures, the research suggests that consumer confidence is on the rebound. The Audiences in Focus report, which surveyed 2,000 UK respondents, found that over a third of people (36%) have loosened their budgets, treating themselves more frequently —...
More than 1.8 million people streamed, viewed, or downloaded The Rest Is Politics and The Rest Is Politics: US in under 24 hours, after both shows released emergency episodes in response to the US bombing of Iran over the weekend. In a sign of just how central podcasts have become during global breaking news events, over 1.1 million views were recorded on YouTube alone, with 685,000 audio streams across platforms such as Spotify and Apple...
Britain has lost its crown as Europe’s top destination for foreign investment in renewable energy and utility projects, as a sharp fall in new developments sees France take the lead, according to new figures from EY. The number of green energy and utilities projects backed by overseas investors in the UK dropped by 57 per cent in 2023, falling from 93 to just 39 in a single year. That slump saw the UK overtaken by...
