Business News

Cash payments plunge as digital payments become the default for many consumers

5 Mar 2018

New research from finance and banking trade body, UK Finance, has found that debit card transactions will overtake those made with cash this year. Meanwhile, ATM usage peaked several years ago, with more than 2.9 billion transactions taking place in

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Chancellor calls for Inheritance Tax review to make regime “fit for purpose”

5 Mar 2018

The Chancellor, Philip Hammond, has asked the Office of Tax Simplification (OTS) to undertake a review of the Inheritance Tax (IHT) system to ensure that it meets the needs of modern households. In a letter to the OTS, an independent

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Remain-supporting former minister strikes optimistic note on post-Brexit economy

6 Feb 2018

Former Conservative Treasury Minister, Lord Jim O’Neil has told the BBC that gloomy predictions for the post-Brexit UK economy are likely to be ‘dwarfed’ by global growth figures surpassing expectations. He said: “I certainly wouldn’t have thought the UK economy

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Millennials set for ‘inheritance boom’… but not until the 2030s

6 Feb 2018

A new report from think-tank, the Resolution Foundation, predicts that so-called ‘millennials’, those aged between 17 and 35, will receive the biggest inheritance of any post-war generation from their baby boomer parents and grandparents. The think-tank estimates that the average

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Ban on passing credit card fees on to consumers hits small businesses in the pocket

6 Feb 2018

A ban on passing on charges from credit card providers to consumers, which came into effect last month, is hitting small businesses in the pocket. Businesses are now faced with the option of either increasing prices for all customers to

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