NS&I Under Fire for Bereavement Savings Mishandling
National Savings and Investments faces mounting criticism for poor customer service to bereaved families, with complaints doubling and families forced to hire lawyers to access funds.
Category : City Finance
UK Payment System: The Hidden Complexity Behind Every Transaction
The UK's payment ecosystem, including the Faster Payments System, faces challenges in innovation, fraud prevention, and maintaining global leadership while delivering seamless consumer experiences.
Inheritance Tax Cuts Endanger UK Family Businesses
Changes to inheritance tax relief on agricultural and business assets from April 2026 could force family firms to sell or relocate, undermining entrepreneurship and economic growth in the UK.
HMRC Rejects Half of Digital Tax Exemption Requests
New data reveals HMRC has turned down 47% of applications for exemption from Making Tax Digital for Income Tax, raising concerns about digital exclusion as the deadline approaches.
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NAO: Government's Financial Control Framework Needs Improvement
The National Audit Office finds the Treasury's Financial Transaction Control Framework shows progress but requires clearer guidance and better risk assessment for £203bn portfolio.
JP Morgan Chase Gets Tax Break for Canary Wharf HQ Plan
Tower Hamlets Council plans a business rates discount to incentivize JP Morgan Chase's new £3 billion headquarters in Canary Wharf, aiming to boost employment and community investment.
Bank of London Hit with £2m Fine for Misleading Watchdog
The Bank of London has been fined £2 million by the Prudential Regulation Authority for misleading the regulator and failing to act with integrity, marking a first in enforcement actions.
Bank of England to Analyze Outdated Inflation Data
The Bank of England faces a challenge as upcoming inflation data fails to reflect recent geopolitical shocks, with economists predicting steady figures despite rising fuel prices and market volatility.
JP Morgan Chase Tax Break for Canary Wharf HQ
Tower Hamlets Council considers offering business rates discount to JP Morgan Chase as incentive for £3bn headquarters development that promises 12,000 jobs and community investments.
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FCA Conduct Breach Reports Jump 10% Before New Rules
Reports of conduct breaches to the Financial Conduct Authority increased to 4,224 in 2024 as new rules targeting non-financial misconduct and harassment prepare to take effect in September.
Wildlife to Replace Politicians on UK Banknotes: Expert Nominations
The Bank of England announces native wildlife will feature on new £5, £10, £20 and £50 notes. Experts nominate red fox, common toad, beaver, and swift as candidates.
Sergey Brin Invests $45M to Block California Billionaire Tax
Google co-founder Sergey Brin has donated $25 million to a Super Pac opposing California's proposed 5% wealth tax, bringing his total contributions to $45 million. The tax targets billionaires to fund education and healthcare programs.
Bank of England Rejects Calls to Speed Up Shadow Banking Test
The Bank of England has rebuffed parliamentary demands to accelerate its inaugural stress test of the private credit industry, maintaining its 2027 timeline despite growing systemic concerns.
Contactless Limit Scrapped: Impact on UK Consumers
The £100 contactless payment limit is scrapped today, allowing banks to set higher limits. Major UK banks are keeping the cap at £100 for now, with flexibility for future changes.
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HMRC's New Tax Rules for Online Sellers and Freelancers
Online platforms must now report users selling over 30 items or earning above £1,700 annually to HMRC. Learn how to navigate tax obligations for side hustles, from trading allowances to self-assessment.
London Pension Fund Pressured to Divest from Israel-Linked Firms
A cross-party group of 150 councillors and four London Assembly Members demands the London CIV pension fund divest from companies allegedly enabling Israeli violations of international law.
MPs: Treasury Reforms Threaten Ombudsman Independence
Treasury Select Committee warns government's overhaul of Financial Ombudsman Service, including direct appointment of chair, could undermine institution's independence and consumer protection.
BoE Should Wait on Rate Cuts, Shadow MPC Economists Say
Leading economists on City AM's Shadow Monetary Policy Committee recommend the Bank of England maintain interest rates at 3.75% due to Middle East conflict risks. The 7-2 vote highlights concerns over energy price volatility and inflation persistence.
London Boroughs Demand 50% Share of Tourist Tax Revenue
London Councils urges Mayor Sadiq Khan to allocate half of the £352 million annual tourist levy to local boroughs for street cleaning and safety services in tourist hotspots.
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Bank of England: AI Bias Cannot Be Eliminated
A senior Bank of England official states artificial intelligence will never be bias-free, urging financial institutions to adopt bias-aware governance and testing protocols.
Wildlife Banknotes Spark Culture War Over Historic Figures
The Bank of England's plan to replace historic figures with British wildlife on banknotes ignites debate, with critics calling it 'woke' and supporters praising inclusivity.
Government Overhauls FOS to Curb Quasi-Regulator Role
The UK government announces sweeping reforms to the Financial Ombudsman Service, introducing a 10-year complaint time limit and new FCA referral mechanisms to restore impartial dispute resolution.
Charity Donations Fall £1.4bn Amid Rising Living Costs
A new study reveals a sharp decline in charitable giving in the UK, with donations dropping by £1.4bn in 2025. Nearly half of non-donors cite affordability issues, signaling a shift in cultural norms.
Wealthy Britons Flee Gulf, Avoid UK to Dodge Tax Bills
High-net-worth individuals from the UAE are bypassing the UK for Ireland and France to avoid tax liabilities amid missile attacks, with HMRC unlikely to grant exceptions.
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NSW Loses GST Billions as WA Gains $5.5 Billion
New South Wales emerges as the primary loser in Australia's latest GST redistribution, while Western Australia secures an extra $5.5 billion, sparking debate over fiscal fairness.
Croydon's Best Financial Scenario: No Further Deterioration
A local government finance expert warns Croydon Council's best financial outcome for 2026 is simply avoiding further decline, as it struggles with £1.4bn debt and ongoing reliance on government support.
CGT Discount Favors Rich Sydney, Melbourne Areas, Analysis Shows
New research reveals Australia's capital gains tax discount disproportionately benefits high-income electorates like Wentworth in Sydney, with calls for reform to address inequality.
Senior Bank of England Staff Depart in Resignation Scheme
The Bank of England has seen a wave of departures, including senior staff, under a resignation scheme aimed at reducing headcount amid operational changes.
Bank of England Replaces Churchill with Wildlife on Banknotes
The Bank of England's decision to replace British icons like Winston Churchill and Jane Austen with animal images on banknotes has ignited controversy over national identity and symbolism.
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UK Winner Scoops £181 Million EuroMillions Jackpot
A single UK ticket-holder has claimed a staggering £181 million EuroMillions jackpot, marking one of the biggest lottery wins in British history. The winner matched all numbers in the draw.
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