Business news 24 July 2025
UK and India set for landmark trade deal. Scam victims get £66m back. Charges for using Cash. Tax, markets, insolvencies & more business news that we thought would interest our members.
James Salmon, Operations Director.
💼UK and India set for landmark trade deal
Prime Minister Sir Keir Starmer is set to sign a landmark trade deal with Indian Prime Minister Narendra Modi. The deal, agreed in May, has already brought in £6bn in investment to the UK and is expected to create 2,200 jobs. It includes significant tariff reductions on British goods – cutting average tariffs from 15% to 3%. Sir Keir said: “Our landmark trade deal with India is a major win for Britain. It will create thousands of British jobs across the UK, unlock new opportunities for businesses and drive growth in every corner of the country.”
👮 Scam victims get £66m back
In the first six months of a new reimbursement scheme, £66m was returned to victims of authorised push payment scams. Launched in October last year, the rules mandate banks to reimburse victims unless they were grossly negligent. The Payment Systems Regulator (PSR) reported that 87% of the lost funds were returned, with nearly 86% of claims resolved within five days. A reimbursement limit of £85,000 applies, although banks may opt to reimburse higher amounts. These protections cover transactions from UK bank accounts made from October 7, 2024, onwards and do not apply retrospectively. The PSR said: “The data shows positive outcomes for consumers in the first six months of our policy.”
💷NatWest to charge firms extra for using cash
NatWest is set to increase charges for business customers using cash, raising concerns among small business owners. Starting from August 30, fees for cash deposits will rise from 70p to 95p per £100, while cheque payments will increase from 70p to 75p per cheque. Martin Quinn from Campaign for Cash has condemned the move, saying: “The big banks are slowly trying to kill off cash as a payment method.”
📈Markets
📈Yesterday, the FTSE 100 closed up 0.47% at 9065.83 and the Euro Stoxx 50 closed up 1.02% at 5344.66. London was in a positive mood with equities recording further gains taking blue chips to a new record high. UK bond yields were rising again with both the ten year up 4 basis points at 4.61% and the 30 year up 5 basis points at 5.45% facing concerns over UK government borrowing.
Lloyds reported a 5% jump in interim pre-tax profit to £3.5bn which came in ahead of £3.2bn forecasts..
EU has prepared a €100bn ‘no deal’ plan to match the proposed 30% US tariff on EU imports. However, according to reports, the European Union and the US are progressing toward an agreement that would set a 15% tariff for most products.
Overnight in the US the S&P 500 rose 0.78% to 6358.91 and the NASDAQ rose 0.61% to 21020.02. With even Microsoft recovering from an initial fall on concern over a hacking attack that has seen 400 clients impacted by a flaw in its SharePoint servers, to end the session positively.
Tesla shares fell after Elon Musk warned of “rough quarters” ahead, as the EV maker posted even worse results than those predicted. Second-quarter profit fell y 16% compared with a year ago, to $1.2bn as it faces a consumer backlash and increasing competition from Chinese EV manufacturers.
Google parent Alphabet however beat forecasts with earnings per share hitting $2.31 ahead of the expected $2.17.
💷This morning on currencies, the pound is currently worth $1.356 and €1.153 .
On Commodities, 🛢️Oil (Brent) is at $69.1 & 💰Gold is at $3370.
📈On the stock markets, the FTSE 100 is currently up 0.6% at 9115 and the Eurostoxx 50 is up 0.7% at 5382.
in Legal news, City traders jailed for interest rate rigging, had their convictions quashed by the Supreme Court after a ten year legal appeal.
🏦Solomon issues warning over tax and regulation
David Solomon, chairman and chief executive of Goldman Sachs, has warned that the UK’s status as a global financial hub is “fragile” after years of over-regulation and high taxes. He highlighted the need for the Government to implement policies that retain talent and encourage capital formation, warning: “If you don’t set a policy that keeps talent here, that encourages capital formation here, I think over time you risk that.” He warned that recent tax policy changes, including the reversal of the non dom status, have led to senior Goldman partners relocating from London. Mr Solomon said he was “encouraged” by Rachel Reeves’ deregulation drive after the Chancellor warned that red tape was “the boot on the neck” of business, saying “she’s talking about regulation not just for safety and soundness, but also for growth.”
💰MPs call for wealth tax debate
With Office for National Statistics data showing that Government borrowing hit £20.7bn in June, 26 MPs have called for a debate on a possible wealth tax that could boost Treasury coffers. An annual levy of 2% on individual assets exceeding £10m could potentially generate £24bn and the MPs argue that “such a measure would represent a fairer alternative to cuts” and could provide essential resources to combat poverty and inequality. However, Government officials have downplayed the likelihood of implementing such a tax, with one arguing that it is “off the table.” Labour MP Rachael Maskell said the levy would be “a first step in recognising progressive means of contributing to our country’s future at a time when we need investment.” A Treasury spokesman said: “The best way to strengthen public finances is by growing the economy – which is our focus. Changes to tax and spend policy are not the only ways of doing this. We are committed to keeping taxes for working people as low as possible.”
💰Tax raids on the wealthy have ‘backfired’
The Government is facing criticism as tax raids on the wealthy appear to be backfiring, with capital gains tax receipts dropping in the first half of the year despite increased rates. Chancellor Rachel Reeves is under pressure to find ways to address a £30bn shortfall in public finances ahead of the autumn Budget, with the tax burden projected to reach a record high following a £41bn increase in the last Budget. Shaun Moore, a tax and financial planning expert at Quilter, said: “The Government’s decision to slash capital gains tax allowances and hike rates has backfired.”
💼HMRC looks to simplify tax management
HMRC has introduced a new digital service aimed at simplifying tax management for 35m PAYE taxpayers. The new system features over 50 measures designed to streamline processes and reduce costs by £50m through less reliance on postal correspondence. Available via Personal Tax accounts, it allows users to easily check and update their income, allowances, and expenses. The initiative is part of HMRC’s Transformation Roadmap, which aims for 90% of customer interactions to be digital by 2030, ultimately creating a more automated and user-friendly tax system.
🏠Property price growth predictions eased
UK house price growth forecasts for 2025 have been lowered due to a weaker-than-expected first half of the year, ongoing geopolitical uncertainty, and fears of future tax rises. Savills has cut its forecast from 4% to just 1%, while it is forecasting a 4% increase for 2026, down from 5.5% previously. However, Savills remains optimistic about the longer-term outlook. It expects average house prices to rise by 24.5% between 2025 and 2029, slightly up from its previous projection of 23.4%. Savills expects the average house price to increase £86,300 by 2029, hitting £448,600 compared to an average of £362,300 by the middle of 2025. Meanwhile, Rightmove has revised its estimate for price growth in 2025 from 4% to 2%.
🛫Heathrow
Heathrow reported a 37.2% decline in interim profit to £203m due to higher employer NIC contributions and electricity prices. The UK ‘s largest airport said revenues rose 1.9% to £1.7bn.
🛍️River Island at risk of collapse
River Island is facing imminent collapse unless a rescue plan is approved by landlords and creditors. The proposal includes handing back keys for 33 stores, slashing rents on 71 shops, and writing off significant debts to avert a liquidity crisis. The plan, which will be presented to the High Court, requires the backing of 75% of creditors to unlock an emergency loan. Without approval, River Island warns it will be “unable to pay its debts as they fall due” and may enter administration. The restructuring plan, developed by PwC, highlights a £10m “funding need” by mid-September, with this escalating to £50m by year-end. The Lewis family, who founded River Island, has pledged a new £40m borrowing facility contingent on the plan’s approval.
🚨Latest Insolvencies
Appointment of Administrator – AGDEN CONSULTING LIMITED
Appointment of Liquidators – DR FINANCE CONSULTING LIMITED
Appointment of Administrator – GREAT MINDS TOGETHER LIMITED
Appointment of Administrator – GLEAM PROPERTY COMPANY LTD
Appointment of Liquidators – HP PARTNERS LIMITED
Appointment of Administrator – NUTRIVEND LTD
Appointment of Liquidators – OSSEOUS BIDCO LIMITED
Appointment of Liquidators – BLUECLAW MEDIA LTD
Appointment of Liquidators – CLAREANT CAR HOLDINGS LIMITED
Appointment of Liquidators – CHANDLER DEVELOPMENTS LIMITED
Appointment of Administrator – BAXTER PERSONNEL LIMITED
Appointment of Liquidators – G & E WEALTH MANAGEMENT LIMITED
Appointment of Liquidators – HKA (F S) LIMITED
Appointment of Liquidators – PDL (BOURNEMOUTH) LIMITED
Appointment of Liquidators – OLD KENSWORTH PROPERTY COMPANY LIMITED
Appointment of Liquidators – EDENRED (UK GROUP) LIMITED
Appointment of Liquidators – ENDOTOH LTD
Appointment of Liquidators – GE MONEY CONSUMER LENDING LIMITED
Winding up Order (Companies) – VERSATILE FLOORING GROUP LTD
Winding up Order (Companies) – ADVANCED EARTH METALS LTD
Winding up Order (Companies) – ANCHOR MEDIA LIMITED
Winding up Order (Companies) – BUSINESS WAY LTD
Winding up Order (Companies) – BBS BUILDS LTD
Winding up Order (Companies) – REDDINGTON RETAIL LTD
Winding up Order (Companies) – PART BUSTERS LIMITED
Winding up Order (Companies) – JACUNA LTD
Winding up Order (Companies) – BANHAM GROUP LIMITED
Petitions to wind up (Companies) – HILLSIDE BISON PRECISION LTD
Petitions to wind up (Companies) – BRAMALL INVESTMENT COMPANY LIMITED
Appointment of Liquidators – IGNATIUS DUX LTD
Appointment of Liquidators – FINANCIAL SOLUTIONS WALES LIMITED
Appointment of Liquidators – KAREN BROWN CONSULTING SERVICES LIMITED
Appointment of Administrator – CBE PLUS LTD
Appointment of Liquidators – JB LEX LIMITED
➕Why you should become a member of CPA!
The Credit Protection Association (CPA) has been assisting thousands of UK businesses to get paid, since 1914. We have supported our members through all sorts of difficult trading environments. With high interest rates and a struggling economy and elevated insolvencies, our services can help your business navigate these difficult waters.
Unlike other credit management and debt collection companies, we offer a range of services to our members that are all included as part of a fixed annual subscription, tailored to your needs.
Under your annual subscription you will have access to our main services:
- Our Creditcare credit reports provide credit ratings and limits along with a host of detailed information on your potential customers to enable you to trade with confidence and set appropriate credit policies for new customers.
- Our monitoring service will alert you to any significant changes in the status of those customers.
- ️Our Overdue account recovery service can be used to chase up payment on any invoices to those customers that have not been paid on time. Unlike other debt collection companies, this service directs your customer to pay direct to you and allows you to maintain your goodwill with them, rather than inserting ourselves into your relationship with you customer and insisting they pay CPA instead. Our Overdue account recovery service resolves over 80% of accounts referred to us.
All of the above services and other complimentary services such address verification, are included in your subscription!
And for the small minority of debts not resolved through our Overdue account recovery service, you can refer the debt to our collections department to escalate the late payment collections process.
CPA eases cash from tardy debtors – Efficiently, Effectively, Economically and Ethically. And we provide credit information so you can monitor and assess your key customers and be warned of any potential risks. CPA has been improving business cash flow for over 100 years, by tackling late payers and campaigning against the late payment culture in the UK.
Unlike other credit management companies, we offer our members a fixed annual subscription regardless of how high the value of their debts maybe!
Rather than to borrowing more money to improve your cashflow, CPA suggests that business owners tackle the problem at its source. If late payments are a strain on your cashflow, then talk to CPA about how we can help you reduce those late payments.
Just ☎️ call Peter Uwins, CPA’s National Sales Manager, on 020 8846 0000 (business hours) or email nsm@cpa.co.uk today.
When you see your money come in, you will be so glad you used CPA.
️ The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections
Do you have a commercial late payer that is causing you grief? Use CPA’s no-win, no-fee, commercial debt recovery service!
If you have a particular business customer who is late paying and causing you sleepless nights, why not offer it to CPA’s collection department for purchase on recourse?
CPA’s collection department will then pursue the debt. We will be liable for any costs incurred and then when we have recovered the debt, we will pay you the net principle debt recovered less our percentage.
Once you have enjoyed that success then you can consider the more cost effective membership which includes our Overdue Account Recovery service and Status/Credit reports as well as a range of other complimentary services.
Just call ☎️ 020 8846 0000 and ask for Godfrey Nelson or Cris Shirley (business hours) or email debtpurchase@cpa.co.uk today.
️ The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.
Get compensated for previous late payments
Have you been paid late by business customers in the last six years?
Maybe you no longer work with them. Under ⚖️ legislation, you are entitled to compensation you for those late payments you have suffered.
You put up with the PAIN – now claim the GAIN!
Claim late payment compensation (LPC) from former business customers who paid you late in the last six years!
CPA (LPC) Recoveries is using our bespoke software and decades of experience to do just that for our clients
Check our compensation calculator to see how much your business could be owed!
Discover NOW the potential value of late payment compensation hidden in your sales ledger!
️ The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.