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18/08/2025

The UK government needs to raise a lot of money, and fast. However, they’ve also promised not to target certain headline personal taxes.

So, will Chancellor Rachel Reeves plug a roughly £50bn fiscal black hole with taxes on wealth?

Well, reports are emerging that the Chancellor is planning a crackdown on Inheritance Tax, in particular on gifting cash. At the moment, as long as a cash gift is made more than seven years before death, it’s entirely tax-free.

However, it’s not just the super-rich who are gifting chunks of their estates before they die; it’s the middle-income taxpayers too.

Read more of the story here 👇
https://www.cityam.com/rumoured-changes-to-inheritance-tax-gifting-spark-concern-for-middle-class/

EXCLUSIVE: Sky News has cancelled its daily Business Live news programme, leaving the channel without a stand-alone busi...
18/08/2025

EXCLUSIVE: Sky News has cancelled its daily Business Live news programme, leaving the channel without a stand-alone business programme for the first time since 2013, City AM can reveal.

The broadcaster’s top brass informed staff about the decision in a memo on Monday evening, telling editorial employees that the show “will not return to the TV and streaming schedule this autumn”.

“Business, economics and consumer finance are essential pillars of the 2030 strategy, and we want to direct our market-leading journalism to our growing premium digital offering”, Jonathan Levi, executive editor of Sky News UK, told staff in an email seen by City AM.

The move is the latest part of a major strategic overhaul announced by boss David Rhodes in January, which has seen the channel shift its focus away from live and rolling news to produce more “premium video” as well as newsletters and podcasts.

Read the full story here 👇
https://www.cityam.com/exclusive-business-live-dropped-from-sky-news-in-premium-push/

Bank of England forecasts on inflation for July could be too high despite suggestions Oasis concerts could make prices j...
18/08/2025

Bank of England forecasts on inflation for July could be too high despite suggestions Oasis concerts could make prices jump, forecasters have said.

The Bank’s last Monetary Policy Report took a gloomy view on the state of the UK economy as it claimed inflation would hit 3.8 per cent in the month of July.

But leading forecasters have said the Bank’s prediction could be too high, with inflation expected to come in in slightly lower than it forecast.

Such a scenario could ease concerns that inflation has proven more difficult to bring down, which would lead to further calls for interest rates to be cut.

Read the full story here 👇
https://bit.ly/4oGk7Tm

The shadow secretary of state for business has channelled Argentina’s red-tape-slashing President, Javier Milei, in a ne...
18/08/2025

The shadow secretary of state for business has channelled Argentina’s red-tape-slashing President, Javier Milei, in a new video in which he vows to “take a chainsaw” to the government’s 300-page workers’ rights overhaul.

Tory MP Andrew Griffith filmed himself cutting through the tome of new legislation that the Employment Rights Bill will foist on employers, vowing to “repeal all of the job-destroying measures” in the bill.

“Politicians love to talk about how they’re going to cut red tape, but when in government, they never do,” he is filmed saying in the video posted on X."

Read the full story here 👇
https://www.cityam.com/tory-mp-takes-chainsaw-to-workers-rights-package-in-new-video/

📸 Image credit: Getty

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18/08/2025

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Twenty lower league football clubs in the UK have fallen into arrears to the HM Revenue & Customs (HMRC), according to d...
18/08/2025

Twenty lower league football clubs in the UK have fallen into arrears to the HM Revenue & Customs (HMRC), according to date from chartered accountants and business advisers Lubbock Fine shared with City AM.

The value of Pay as You Earn (PAYE) payroll tax owed by football clubs was £1.04m as of 22 May 2025, which the accounting firm says accounts for 89 per cent of the total £1.17m tax arrears figure.

The firm has explained that increased cost pressures, including the recent hikes in national insurance contributions from Chancellor Rachel Reeves’ Autumn Budget, are pushing more football clubs into arrears.

Read the full story here 👇
https://bit.ly/3JiLpiC

Get the latest news and sharpest views from the City of London and the rest of the UK straight to your inbox.Our three d...
18/08/2025

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Our three daily newsletters will keep you up to date and in the know, bringing you the latest on market moving news, top stories from the world of business and politics plus insightful analysis, commentary and video content.

City AM’s newsletters are sent at 7:15am, 12:00pm and 4:00pm, Monday to Friday.

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OPINION: It is one of the hoariest and most hackneyed “solutions” to the institutional problems which beset British gove...
18/08/2025

OPINION: It is one of the hoariest and most hackneyed “solutions” to the institutional problems which beset British government: bring in dynamic, no-nonsense leaders from the business world.

They will inject Whitehall with a sense of urgency and purpose and an efficiency which will be transformative, sweeping aside the pettifogging, nest-feathering bureaucracy of the civil service.

Taking successful people from the business world and putting them in government sounds like a good idea, but history proves otherwise, Nigel, Eliot Wilson writes ✍️

Read the full story here 👇
https://bit.ly/4mRyWAZ

The average price tag on a home has tumbled by more than £10,000 across the summer, falling by nearly £5,000 month-on-mo...
18/08/2025

The average price tag on a home has tumbled by more than £10,000 across the summer, falling by nearly £5,000 month-on-month in August alone, according to a property website.

Across Britain, the average price of a home coming to market fell by 1.3 per cent, or £4,969, month-on-month in August to stand at £368,740, Rightmove said.

August’s price drop is in line with the average for this month seen over the past decade, following the bigger-than-usual falls in June and July, the report added.

The average new seller asking price for a home has now fallen by just over £10,000 (£10,777) this summer, the website said. In May, the average price tag on a home was £379,517.

Read the full story here 👇
https://bit.ly/41Imuv3

Eight pubs a week shut their doors for good across the UK over the first half of the year amid rising tax and labour cos...
18/08/2025

Eight pubs a week shut their doors for good across the UK over the first half of the year amid rising tax and labour costs, according to new figures.

Industry bosses said it is “heartbreaking” and highlighted the need for supportive tax measures from the Treasury in the autumn budget.

Official Government statistics show 209 pubs were demolished or converted for other uses over the six months to June.

The data, which was analysed by commercial real estate specialists at Ryan, show the overall number of pubs in England and Wales, including those vacant and being offered to let, fell to 38,780.

Read the full story here 👇
https://bit.ly/4mKFJfB

If there is one thing that is clear three months out from the Autumn Budget, it is that Chancellor Rachel Reeves will hi...
18/08/2025

If there is one thing that is clear three months out from the Autumn Budget, it is that Chancellor Rachel Reeves will hike taxes.

The Office for Budget Responsibility (OBR), which scores the economic impacts of the government’s policies and publishes forecasts on public finances, has been questioned for being over optimistic on measures such as productivity and the cost of borrowing.

But Reeves cannot escape the criticism, taking a risky gambit by drawing in a small fiscal headroom of £9.9bn at the Spring Statement. The buffer was the third-smallest on record of any Chancellor since 2010.

According to her fiscal rules, day-to-day spending must match income on a rolling three-year horizon.

Read the full story here 👇
https://bit.ly/41Kr3VC

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17/08/2025

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