Business

HM Revenue & Customs (HMRC) has significantly increased the number of Research and Development (R&D) tax relief claims it has “corrected” using controversial powers, sparking concerns that the tax authority is bypassing due process. New data obtained by accountancy firm Price Bailey through a Freedom of Information request reveals that HMRC’s Fraud Investigation Service (FIS) amended 2,440 claims for R&D corporation tax relief in 2024 (as of 12 November)—a nearly fourfold increase from 670 claims...

Elon Musk’s Starlink internet service has been installed at the White House, raising fresh concerns over potential conflicts of interest as the billionaire’s influence within the Trump administration continues to grow. The New York Times reported that Starlink was introduced to “improve WiFi connectivity” at the White House complex, according to press secretary Karoline Leavitt. However, the installation led to a security alert when Christopher Stanley, a Musk employee, triggered an alarm while accessing the...

AstraZeneca abandoned plans for a £450 million expansion of its vaccine site in northwest England after the UK government failed to meet a critical funding deadline, the company’s UK chairman has told MPs. The FTSE 100 pharmaceutical company’s decision to withdraw its investment in the Speke, Liverpool site in January sparked political controversy, as the government seeks to attract private sector funding to revitalise Britain’s sluggish economy. Speaking to the Commons business and trade select...

Rachel Reeves is under pressure to ramp up government spending on research and development (R&D) to £30 billion by the end of the decade, as business leaders warn that the UK risks falling behind global innovation powerhouses. The Confederation of British Industry (CBI) is calling on the chancellor to set an “ambitious and world-leading goal” of increasing R&D spending to 3.4% of GDP by 2030—equivalent to an additional £10 billion in funding. The business lobby...

As the Spring Statement approaches, the UK’s small and medium-sized businesses (SMEs) are holding off on major investment decisions, despite strong ambitions for growth. New research from independent funder Bibby Financial Services (BFS) shows that 87% of SMEs plan to invest this year, with two-thirds (66%) expecting sales to rise over the next six months. However, economic uncertainty surrounding the Chancellor’s speech on 26 March is leading many to adopt a wait-and-see approach. Nearly half...

Donald Trump’s threat to impose a 200% tariff on wine and champagne imports from the European Union could provide an unexpected boost for English sparkling wine, as US importers look for alternatives to French champagne. Hugo Stewart, a winemaker based in Wiltshire, had been considering cancelling a planned tasting trip to the United States but is now reconsidering after Trump’s announcement. “Maybe there’s an opportunity for us to replace some of the champagne,” he said....

Britain’s two largest steelmakers have warned that President Donald Trump’s tariffs are already causing a decline in business from American customers, with further economic damage expected in the months ahead. Tata Steel, which operates from Port Talbot, and British Steel, which runs the Scunthorpe steelworks, say the 25% tariff on British steel and aluminium exports to the US has “spooked customers” and is forcing them to seek alternative suppliers. In a hearing before MPs on...

The UK government’s decision to integrate artificial intelligence into public sector operations has raised concerns over potential job losses, particularly within the civil service. However, leading software consultancy Scott Logic has argued that the adoption of AI will drive efficiency and open up new opportunities rather than eliminate roles. The civil service workforce has expanded significantly in recent years, now exceeding 540,000 employees. Much of this growth has been attributed to the creation of taskforces...

Angelos Frangopoulos says Ofcom investigation is part of a political campaign against free speech The chief executive of GB News has accused far-left activists of waging a “coordinated political campaign” against the channel after Ofcom launched another investigation into its programming. Angelos Frangopoulos said GB News was facing an “orchestrated attack” by pressure groups seeking to silence the broadcaster, which styles itself as a challenger to mainstream media. The controversy centres on an episode of...

81% of customers prefer a personalised experience with 62% of businesses claiming that personalisation has led to improved customer retention. Download rates of customized electronic devices keep increasing because users and businesses want personalized solutions and supply chain management tools that fit their unique requirements. Companies use Configure Price Quote (CPQ) software to automate their product configuration work while also guaranteeing precise pricing and errorless quote generation. The following article will introduce CPQ software benefits...