Business

Fast fashion giant Shein has delivered a striking performance in the UK market. In 2024, its sales surged by 32.3% year-on-year to surpass £2.05 billion (around USD 2.77 billion). This result has already pushed Shein ahead of Boohoo and close to overtaking Asos. The figures come from a report filed by Shein’s UK subsidiary with Companies House, revealing how it has managed to win over millions of fans in one of the world’s most competitive retail landscapes.

State pension likely to rise by 4.7% in April! Temu’s UK operation doubles revenues and pre-tax profit! Reeves plots ‘taxi tax’ as borrowing costs soar

HMRC raises small business ‘phoenixing’ tax loss to £836mn！150,000 people join 'Unite the Kingdom' march in London! UK economy saw zero growth in July

With remote and hybrid working now a widespread trend, tax issues for homeworking employees are increasingly in focus. HMRC has recently clarified that anyone incorrectly claiming tax relief for working from home when they are not eligible could face a substantial repayment bill.

UK Deputy Prime Minister admits to underpaying property tax and steps down; UK rents hit a record high with the cheapest regions revealed; Shein faces a UK tax storm as billions in revenue “flow” to Singapore.

Against the backdrop of high taxes and rising living costs in the UK, many people choose to build up their wealth through savings interest or investment products. What some may not realise, however, is that while savings capital itself is not taxed, the interest earned on savings is subject to taxation – this is known as the tax on savings interest. In recent years, the tax burden on British savers has grown heavier.

HMRC has officially announced new rules – from 1 January 2026, tax reporting requirements for crypto assets will tighten significantly, and tax evasion will face severe penalties.

State pension alert: DWP called to raise payments to £586 a week and slash retirement age to 60; Online fashion retailer Shein’s UK sales leap by a third to more than £2bn; UK Cuts Dividend Tax Allowance Twice: 3.6 Million Investors Now Face Tax

Following significant progress made by the G7 nations on the global minimum tax and the crackdown on multinational tax avoidance, the United States has agreed to remove Section 899 – a retaliatory tax clause against foreign companies – from the Big Beautiful Bill. This move spares UK-based businesses from what could have been an enormous additional tax burden.

According to the latest data from the British Retail Consortium (BRC), annual food inflation in June rose to 3.7%, up from 2.8% in May – the largest monthly increase in nearly a year. The price hike breakdown: ‘climate tax’ and ‘policy tax’ on the dinner table.

One of this summer’s most talked-about limited editions in the UK has undoubtedly been the strawberry and cream sandwich from Marks & Spencer (M&S). However, this viral hit has unexpectedly triggered a VAT (Value Added Tax) controversy, which could prompt an investigation by HMRC – and may even mean that some consumers have overpaid tax. Why are so many choosing to dip into their pension pots early rather than waiting until full retirement age?

The new regulations impose high-frequency, high-dimensional reporting obligations on platforms. They also introduce automatic identity and transaction data matching for sellers—signalling the end of the grey-area practices involving offshore platforms, offshore income, and missing declarations. Given the situation, many have wondered – does Hong Kong still offer a low-tax advantage for businesses?

The UK Chancellor is considering ending the pension 'triple lock' system and introducing charges for NHS treatments; over 24 local councils are pushing for a four-day workweek, with South Cambridgeshire District leading the way by making it permanent; UK MPs jointly call for the introduction of a 'wealth tax'.

Rachel Reeves has announced the ‘biggest financial regulation reforms in a decade; 16 and 17-year-olds will be able to vote in next general election; UK unemployment rises and wage growth slows as jobs market ‘weakens’

UK's pension triple lock to cost three times more; Donald Trump announces 30% tariff on imports from EU; HMRC confirms new income tax change starts next April

HMRC's urgent warning to seven million UK households over tax rates; U-turn in UK Welfare Reform: Planned Fiscal Savings May Evaporate; The EU is considering imposing high tariffs on Chinese electric vehicles.

For most entrepreneurs, your business will likely fall under the category of a Small and Medium-sized Enterprise (SME). Let’s explore what qualifies as an SME, why SMEs are so important to the British economy, and what practical steps you can take if you’re planning to launch your own business.

HMRC to reduce taxpayer letters in £50m cost-cutting plan; UK considers taxing pensioners to claw back winter fuel payment; Energy bills could be cut by up to 25% for thousands of UK businesses.

Some people are buying to live in their homes, others for investment. Overall, while there’s been short-term fluctuation, the UK property market remains on an upward trajectory. Why is the UK property market still booming?

Millions of people will receive a £150 energy bill discount; the Chancellor is considering easing inheritance tax reforms to curb capital outflows; the Bank of England keeps the base interest rate at 4.25%.