News

Andrew Tyrie New plans outlined by the Bank of England will see the Financial Services Compensation Scheme (FSCS), which guarantees £85,000 of an individual’s savings if their bank goes bust, reduced to 75,000.

Blair Nimmo KPMG’s Blair Nimmo and Geoffrey Jacobs have been appointed joint administrators of Aberdeen-based oil and gas equipment services firm GOT.

The latest report from leading Scottish lettings portal Citylets shows rents in the Scottish private renting sector continued their upward climb during the second quarter of 2015, despite drag from Aberdeen. Average rents stood at an all time high of £762, up 5.4 per cent on the year, with properti

Scotland is becoming increasingly generous, according to new research which shows Scottish consumers are anticipating a 5 per cent increase in spending on gifts this year. In 2014, the average Scot spent £466.50 on presents outside of birthdays and Christmas - but, according to the One4all Gift Car

Glasgow-based private equity house Maven Capital Partners has announced a £4.3 million investment in Cursor Controls Limited (“Cursor”), a designer and manufacturer of trackball pointing solutions for industrial applications. A statement from Maven said Nottinghamshire-based Cursor, which has a

Women are being hit hard on multiple fronts by changes to the benefits system, according to a report published by Holyrood’s Welfare Reform Committee. The committee found women are disproportionately impacted by welfare reform across a range of issues and benefits.

The most wealthy people in Scotland are now about one third better off than the poorest, according to the latest data. The figures on gross disposable income from the Office for National Statistics show that the average amount taken home after tax and bills is just over £20,000 a year in Aberdeen,

The Royal Institution of Chartered Surveyors (RICS) in Scotland has called on Chancellor George Osborne to use his upcoming emergency budget to ensure stability and growth in the Scottish property sector. The organisation said the general election painted a clear picture of the Scottish political la

The £850 million St James development in Edinburgh cleared a major hurdle this week after councillors recommended the approval of outline planning for the number of residential and commercial units, design features, pedestrian and cycle access, roadways and other infrastructure works.

Scottish house prices lagged behind most of the rest of the UK during the second quarter of 2015 after recording a 1 per cent fall in the second three months of the year. Wales joined Scotland with a drop in prices, while every other area of the UK experienced growth, according to the Nationwide’s

Sporting testimonials offer a welcome chance to recognise and reward longstanding players but organisers may not realise that such events may incur tax liabilities, according to the accountants and business advisers BDO. HM Revenue & Customs (HMRC) stated in an update to their business manual in

The Royal Bank of Scotland is facing a massive $13 billion (£8.3bn) penalty after the US government demanded the cash to settle claims that the Edinburgh-based lender deceived purchasers of mortgage-backed securities (MBS) prior to its £45 billion taxpayer bailout. The UK taxpayer still owns 79pc

Finance chiefs today called for a more progressive property tax system in Scotland to improve local accountability and proposed an end to the council tax freeze. The Chartered Institute of Public Finance and Accountancy (CIPFA) and the CIPFA Directors of Finance Section said that local tax should be

The UK Government has sold off another tranche of shares in bailed-out Lloyds Banking Group, taking the taxpayers’ stake in the Edinburgh-based lender below 16 per cent. The latest sale was of a one per cent stake for around £500 million, The Treasury said.

David Frost For the first time in an African country, Scotch Whisky has been recognised as a ‘geographical indication’ meaning the description can only be used on whisky produced in Scotland in accordance with UK law.