Fines paid by banks in the foreign exchange scandal have improved the UK’s public finances overall, giving Chancellor George Osborne a break as he tries to show voters he can keep on bringing down the deficit.
Several Russian banks, including some that fell under Western sanctions over the country’s annexation of Crimea, will test a new national payment system on December 15th.
HM Revenue and Customs recovered a record £3.9 billion in extra VAT from compliance investigations into small businesses over the last year, marking a 10% increase on the previous 12 months.
The Bank of Scotland has been accused of criminal fraud for the questionable treatment of some customers who fell behind on their mortgages.
George Osborne announced plans on Wednesday to target tax-dodging multinational corporations such as Google, Starbucks and Amazon.
Barclays and Coutts, the UK’s biggest private bank, are both working on video banking services to allow customers to speak to an adviser remotely using their mobile device.
Banks no longer hold the monopoly on funding. The alternative finance industry has more than doubled year on year since 2012, making it easier for people to fund their business or charitable ventures. This guide from Invapay sees the alternative finance market reaching £4.4 billion in 2015.
