Author: Scott Dylan

The new EU border checks threaten to disrupt Christmas food deliveries this year, sparking concerns among trade groups.A new Entry/Exit System (EES) will be implemented on 10 November, requiring facial recognition and fingerprint checks for non-EU passengers at Dover.Logistics UK warns that these checks could lead to significant congestion, affecting the flow of goods and potentially causing long delays.Research from Imperial College London indicates every extra minute of car processing might add up to 10 miles of traffic queues.The costs associated with such delays could significantly impact consumer prices, as additional charges are absorbed by the supply chain.The impending implementation…

The British Retail Consortium is actively advocating for fairer taxation for the retail sector.The BRC has proposed a 20% adjustment to business rates for retail properties.Retail is currently contributing 7.4% to the total business taxes, a significant burden.A potential closure of 17,300 shops looms without policy changes.A call for government intervention aligns with broader industry recovery efforts.The British Retail Consortium (BRC) is urging the government to implement a ‘20% Retail Rates Corrector’ as a measure to adjust the business rates for retail establishments. This proposal aims at creating a fairer tax environment for brick-and-mortar retail, which reportedly pays 7.4% of…

Clarion in Leeds has enhanced its team by adding six newly qualified solicitors, showcasing their commitment to nurturing fresh legal talent.The new solicitors have joined various departments, reinforcing the firm’s diverse practice areas.Clarion maintains its strong tradition of trainee retention and development, supported by a comprehensive training programme.With a single-site operation in Leeds, Clarion continues to support both corporate and private clients globally.Helen Saunders praises the enthusiasm and skill of the newly qualified individuals, highlighting the firm’s growth strategy.Leeds-based law firm Clarion has recently fortified its team by bringing in six newly qualified solicitors, further underscoring its commitment to fostering…

The retail sector faces a significant tax burden according to the British Retail Consortium’s latest findings.Retailers contribute 7.4% of all business taxes, amounting to £33bn, which is higher than their economic contribution of 5% GDP.This burden equates to 55% of pre-tax profits, making it one of the highest taxed sectors alongside hospitality.Business rates represent a significant challenge, constituting 11% of profits and adversely affecting high street investments.The BRC proposes a 20% Retail Rates Corrector to alleviate these pressures and stimulate growth.The British Retail Consortium (BRC) has released new research indicating that the retail sector is disproportionately taxed compared to other…

The first half of 2024 saw a significant number of store closures across Great Britain, according to recent data from PWC.A total of 6,945 shops belonging to chains and multiples were shuttered, marking a daily closure rate of 38 stores.Despite the high closure rate, there has been a slight stability in store openings compared to previous years.Fashion retail demonstrated notable resilience, with reduced closure rates owing to evolving consumer behaviours.The increased prevalence of online shopping continues to impact traditional high street and shopping centre footfalls.Research from PWC highlights that 6,945 shops, primarily from chains and multiples with five or more…

Aldi’s rise in the UK supermarket hierarchy is undeniable, as it narrows its gap with Asda.The German discount retailer’s profits have surged, surpassing pre-tax records.Aldi has overtaken Morrisons, becoming the UK’s fourth largest supermarket.Asda faces challenges with its hold on market share and debt management.Analysts predict Aldi might surpass Asda by 2028, given current trajectories.The rivalry between Aldi and Asda is intensifying. Aldi reported a significant rise in pre-tax profits to £536.7 million, a leap from the previous year’s £152.6 million. This growth is driven by a 16% increase in sales, reaching £17.9 billion, and improved operational efficiencies. Meanwhile, Asda’s…

In a bid to enhance its market position, AIM-listed legal firm Keystone Law has been making significant strides in upgrading the calibre of its lawyer recruits. This strategic move has been a crucial driver for the firm’s recent financial performance.During the past six months leading up to 31 July, Keystone Law has reported a revenue increase of 8.3%, totalling £47 million, compared to the previous year. Concurrently, the firm’s adjusted profit before tax also rose by 7.2%, reaching £6 million. Despite a slight dip in the adjusted profit margin from 13.3% to 13.1%, the board remains optimistic, increasing the dividend…

German luxury etailer Mytheresa has reported significant financial milestones and challenges in its latest fiscal year results.The company saw a 9.8% increase in net sales, reaching €841m (£710m), primarily driven by a 25% growth in the US market.Despite this growth, a decrease in gross profit margin contributed to a 46.4% increase in net loss, reaching €24.9m (£21m).Mytheresa’s adjusted EBITDA fell by 32.8% to €25.8m (£21.8m), reflecting changes in profitability dynamics.Looking forward, Mytheresa anticipates continuous sales growth and an improvement in its adjusted EBITDA margin.Mytheresa, a prominent figure in the luxury e-commerce sector, has reported a successful fiscal year, marked by…

HMRC has dismissed 179 employees for gross misconduct, marking the highest number in five years.This figure represents a 43% increase since 2020, when 125 employees faced similar actions.The dismissals highlight HMRC’s stricter disciplinary stance amidst operational challenges.Notable cases involve severe breaches such as fraud and unlawful access to sensitive data.Rising demands and internal criticism have exacerbated pressures on HMRC’s performance.The HMRC has seen a significant rise in employee dismissals, reaching 179 cases for gross misconduct, the highest in five years. The increase from 125 dismissals in 2020 indicates a substantial 43% rise, underscoring the department’s commitment to upholding strict conduct…

The HMRC has faced a significant rise in dismissals, reaching a five-year peak of 179 employees let go for gross misconduct.This increase marks a 43% rise from 2020, highlighting a firmer approach towards disciplinary matters by the department.The dismissals now account for over half of all terminations at HMRC in the past year, indicating a shift in organisational policy.Incidents of gross misconduct include severe breaches such as fraud, unauthorised database access, and unlawful information disclosure.The department confronts operational challenges, compounding issues with staffing and service standards, amid rising demand for its services.The HMRC has marked a significant rise in employee…