Mather Jamie has appointed Matthew Egglenton as its new graduate commercial surveyor.
Matthew joins the East Midlands property consultancy after completing a BSc (Hons) in Real Estate at Nottingham Trent University. He will now be working towards his Assessment of Professional Competence (APC) while supporting Mather Jamie’s senior surveyors across a range of commercial property transactions.
In his role, Matthew will be gaining valuable hands-on experience including property viewings, advising clients on leasehold and freehold sales & lettings, valuation, carrying out marketing inspections, researching market comparables and assisting with negotiations.
Speaking about his decision to join Mather Jamie, Matthew said: “The company has a proven track record of successfully guiding graduates through the APC process, and I was keen to be part of a respected firm with a strong reputation in the East Midlands. I’m looking forward to developing my skills and progressing my career in commercial property.”
Alex Reid, commercial director at Mather Jamie, added: “We are very pleased to welcome Matthew to our commercial team. His enthusiasm and commitment to developing his expertise in the property sector align perfectly with our values. We look forward to supporting him through his APC and helping him build a successful career with us.”
Melton Building Society has welcomed Ashraf Piranie to its Board of Directors. Ashraf will in
addition sit on the Society’s Audit Committee and assume the role of Chair of subsidiary Nexa Finance Ltd.
The Society will benefit from the vast knowledge and guidance that comes with Ashraf’s long and successful career in financial services. Ashraf brings valuable experience from his sixteen years within the Building Society sector, having held the position of Group Finance and Operations Director at West Bromwich Building Society and Deputy Chief Executive and Finance Director at Nottingham Building Society.
In addition, Ashraf has held senior positions as Chief Financial Officer at Redwood Bank, Finance Director and Joint Managing Director at Al Rayan (formerly Islamic Bank of Britain) and Director of Finance at Santander (formerly Alliance & Leicester). Ashraf also brings valuable experience in strategy (including acquisition and mergers), change management, finance and treasury.
An experienced Non Executive Director, Ashraf is currently Chair of the Risk Committee at both Monument and GB Bank and sits on their main Boards.
Commenting on his appointment Ashraf said: “I’m thrilled to be joining Sue and the rest of the Board, in what is a landmark 150th year for the Society.
“With my experience I’m keen to guide and support the business as they enter the next phase of their digital transformation. I look forward to representing the views of our membership as we progress with our aims of making a Society fit to serve our members for the next 150 years.”
Sue Douthwaite, Chair of the Board, said: “We are delighted to welcome Ashraf as he joins us on the Board of directors at Melton Building Society.
“His expertise and experience in financial services, particularly his years spent within the Building Society sector will be incredibly valuable as we shape our aspirations for our Society and continue to strive to fulfil the needs of our members now and into the future.”
The Fruit Market housing development in Nottingham’s Sneinton Market has entered phases 2 and 3 of construction.
Delivered by igloo Regeneration, phases 2 and 3 will see the construction of 26 new homes clustered around two large communal gardens.
The milestone follows the completion of phase 1 which saw a sustainable, garden neighbourhood of 13 design led homes.
Phases 2 and 3 will continue the scheme’s sustainable ethos. The development is completely gas-free, utilising air source heat pumps, underfloor heating and high levels of thermal insulation to make the scheme one of the most energy-efficient and future proofed in the city.
Sam Veal, Director at igloo Regeneration, said: “This milestone marks a key moment for the Fruit Market development and its positive impact on the wider Nottingham city centre, as we move forward with the delivery of much needed, high-quality homes for the community.
“With Phases 2 and 3, we remain dedicated to providing sustainable, community-focused homes that are thoughtfully designed to meet the needs of residents, creating spaces where people can truly feel at home.
“The continued growth of the Fruit Market community will ensure that these new homes will make a lasting positive impact on this vibrant area and the wider city centre, and we look forward to seeing the full development come to life.”
Construction is underway on the scheme, with completion scheduled for summer 2026.
The East Midlands Combined County Authority (EMCCA) Board has approved nearly £175 million in funding for transport in the region in the next year (2025/26) – with a further £19m also being consider down the line.The money will be used for urgent road repairs, better transport connections, and projects that help people travel by foot or bike and will be divided between EMCCA and four local councils – Derby City Council, Derbyshire County Council, Nottingham City Council and Nottinghamshire County Council.EMCCA will manage funding for large regional projects, such as junction improvement works which are a key planning condition for enabling the new A50 junction (South Derby Growth Zone). Plus, EMCCA funding will support the works on the A614/A6097 scheme (Nottinghamshire). A commissioned study will start the work to review the potential for expanding the Nottingham Express Transit system to support housing and job growth.Notable projects include:
Derby City Council will receive funding for several key projects, including the A52/A52T Spondon Interchange to allow better traffic flow and support active travel initiatives, making it easier and safer for pedestrians and cyclists.
Nottingham City Council will focus on improving major roads for walking and cycling, as well as upgrading real-time parking information systems.
Derbyshire County Council will invest in repairing roads and works to help prevent landslips, particularly on key routes.
Nottinghamshire County Council will focus on maintaining and upgrading its roads, along with planning for future transport projects.
Funding allocations include:
£66 million for City Region Sustainable Transport Settlements 2 (CRSTS2): This funding will support road repairs, improvements to highways, and projects to make walking, cycling, and public transport easier.
£21 million for Bus Service Improvement Plans (BSIP): This funding will be used to make bus services more reliable, affordable, and accessible across the East Midlands.
£75 million for Highways Maintenance Block: EMCCA will receive this funding,£22m of which is extra money the region is getting because it has a Mayoral Combined Authority. This will go on road repairs in 2025/26.
£12.86 million for Integrated Transport Block Funding: EMCCA is expecting this funding to deliver activities across the local transport network.
£7.27 million for Active Travel Fund: The region has been awarded this funding to improve walking, wheeling and cycling and infrastructure.
Mayor of the East Midlands, Claire Ward, said: “By working closely with our local councils and partners, we will ensure every pound is spent wisely to improve transport links, reduce congestion, and support greener, more sustainable ways to travel. This is about more than just infrastructure – it’s about connecting people to opportunities, whether that’s jobs, skills training, education, or our fantastic local attractions.
“Our ambition is clear: to create a transport system that not only meets the needs of today but also lays the foundations for a stronger, more prosperous East Midlands in the future. We want this region to be a place where people and businesses can thrive, and this funding, when approved, will be a major step toward achieving that vision.”
Loughborough University will play a key role in the 2025 Leicester Innovation Festival (LIF), hosting events to strengthen local business growth through innovation, research, and collaboration. The festival, organised by the Business Gateway Growth Hub, runs from 31 March to 4 April and brings together public, private, and academic partners to support businesses in Leicester and Leicestershire.
One of the university’s key events, held online on 2 April, will focus on adopting digital technology in manufacturing. Led by Dr Kate Broadhurst from Loughborough Business School, the session will present findings from the £4.4 million InterAct programme, which explored the human impact of new technologies in the sector. The event will offer practical strategies for businesses integrating digital solutions into their operations.
On the same day, the university will co-host a business engagement event at Harborough Innovation Centre, showcasing opportunities for companies to collaborate with local universities. The session will cover industry placements, graduate recruitment, consultancy, and Innovate UK-funded Knowledge Transfer Partnerships, which help businesses access academic expertise to drive innovation.
A Clean Tech networking event will occur on 4 April at Loughborough University Science and Enterprise Park. Organised by the LUinc. team, the event will connect Clean Tech entrepreneurs with investors, mentors, and industry professionals through networking sessions, tech talks, and startup introductions.
Other organisations involved in LIF 2025 include De Montfort University, the University of Leicester, Innovate UK, the British Business Bank, and Charnwood Campus. All events are free to attend.
The Broad Marsh development site in Nottingham could be sold, generating significant capital for the city council.
The council’s executive board will meet next week (18 March) to discuss the sale of one of the largest and most important city centre development sites in the UK, to an unnamed developer.
Until June 2020 the Broadmarsh Shopping Centre was leased to intu with refurbishment of the centre being well underway. This had seen large parts of the eastern end of the site partly demolished to make way for a new cinema/bowling/food & beverage offering and several pre-lets had been agreed with retailers and operators.
With the demise of intu the site was handed back to the Council, and over the remainder of 2020 it was vacated and mothballed.
Nottingham City Council, as landowner and Local Authority, has since actively promoted the
redevelopment of the Broad Marsh area and has delivered significant progress, including extensive partial demolition of the site, the construction of the Green Heart public realm area, construction of adjacent supporting uses such as the new library, bus station and retail units, working with Nottingham University Hospitals Trust to develop the Community Diagnostics Facility, and development of the Collin Street public realm.
A vision and master plan for the reimagining and regeneration of Broad Marsh has also been developed, with this work set to continue with the purchaser to ensure the successfully delivery of the redevelopment project.
The master plan proposes more than 1,000 new homes built alongside 20,000
sqm of office, commercial and leisure space, and outlines a strategic intent to transform
the area, create opportunities to live and work and bring significant investment and
employment, with 2,500 jobs expected.
The purchaser is expected to begin active works on the project in the short term and aims to begin construction in 2029/30.
Forterra, the manufacturer of clay and concrete building products, has reported a “resilient performance” in 2024, as challenging market conditions continued.
According to full year results, revenue was flat year-on-year, with a double digit increase in the second half relative to both the prior year and first half of 2024.
Statutory pre-tax profit, meanwhile, grew to £24.8m from £17.1m.
Forterra noted that 2024 UK brick industry despatches were up 2% compared with 2023, with fourth quarter despatches 20% ahead of the corresponding period. Total UK brick consumption, however, remains 30% behind 2022 levels.
Neil Ash, Chief Executive Officer, said: “2024 saw the continuation of the challenging market conditions we have witnessed over the last two years, though the second half saw an improving position.
“Our focus has been on the areas we can control and delivered a resilient performance by successfully aligning our production to demand and returning the Group to a position of strong cash generation.
“We also continued to make good progress with our £140m strategic capital investment programme at Desford, Wilnecote and Accrington, which is now nearing completion.
“Trading in the first two months of 2025 has continued the positive trends seen in the final quarter of 2024, with our brick despatches 17% ahead of the prior year. We are currently concluding our customer pricing discussions and expect to deliver necessary price increases to offset cost inflation.
“We continue to take encouragement from the Government’s ambition to materially increase housebuilding but remain wary of the challenges in delivering this. During 2025, we anticipate some recovery in our markets, whilst remaining mindful of the wider macroeconomic conditions.
“Following our significant strategic investment in increased manufacturing capacity, the Group remains well placed as its key markets recover.”
A sharp increase in demand for insolvency advice, as well as a steep fall in the number of new businesses in the region, is indicating a further toughening of the local economy.
This is according to the Midlands branch of national insolvency and restructuring trade body R3 and is based on an analysis of data from business intelligence provider Creditsafe.
R3’s figures show that East Midlands insolvency-related activity – which includes liquidator and administrator appointments as well as creditors’ meetings – increased sharply last month by 78.85% in comparison with January’s activity.
At the same time, the number of new businesses set up in the region fell by almost a fifth (18.32%) in February compared to February 2024, dropping from 2,735 to 2,234.
The R3 analysis also shows that the number of East Midlands businesses in liquidation which owe money to their creditors increased by 9.40% last month against January’s figures, and the number of companies with overdue invoices on their books remained high at 24,308.
R3 Midlands Chair Stephen Rome, a partner at Penningtons Manches Cooper in the region, said: “It appears that international trade uncertainty is now impacting heavily at a local level, giving rise to weak business confidence and a slowing of entrepreneurial investment.
“There will be further pressure on local businesses when the increase in employer national insurance contributions comes into force next month, which may drive firms to pass on rising costs to consumers.
“As for what lies ahead over the longer term, there could be a silver lining with the additional government spending announced in the last Budget, which comes into effect from April onwards.
“In the meantime, R3 would urge any local businesses struggling financially to seek advice as soon as possible. Most R3 members offer a free initial consultation to explore potential solutions for any significant financial issues.”
Leicester law firm Howes Percival has expanded its Development team with two new appointments.
Parvinder Rama joins Howes Percival as an Associate Solicitor and has a wide range of experience within the commercial property sector including residential development, acting for both landowners and developers in relation to the negotiation of promotion and option agreements, acquisitions and disposals as well as conditional contracts and overage agreements.
Navjot Duggal has four years’ experience in property law, having worked in Howes Percival’s Commercial Property department as a Paralegal. She has now passed her Solicitors Qualifying Examinations and will qualify into the Leicester Development team.
Nick James, Partner and Head of the Developments Sector at Howes Percival, said: “Parvinder is a key hire for us in Leicester, and I’m delighted to welcome her to Howes Percival. We know Navjot and have worked alongside her for a number of years. She is a fantastic addition to the team, and it is exciting to see her move into the next stage of her career with the firm.
“We have experienced a continued demand from our client base on a wide range of matters with a significant increase in strategic development work and with new residential development investment acquisitions and disposals. In addition, we’ve also seen a diversification in our client base, spreading both regionally and nationally.
“While we are still in uncertain times in the development sector with developers struggling to get new houses through planning process and obtain consent, there is still a healthy appetite for investors and developers to acquire new interest in sites.
“As a result, there is good quality work out there for practices which have the right people, and we have shown commitment to the sector by investing in high quality recruitment and development through training.”
Latest Regional Growth Tracker survey data from NatWest pointed to a deepening downturn in the East Midlands private sector.
The headline NatWest East Midlands Business Activity Index dropped to 44.7 in February from 49.8 in January, signalling a second successive monthly reduction in output and one that was much sharper than at the start of the year. In fact, the pace of contraction was the steepest since January 2021.
Where output fell, survey respondents generally linked this to lower new orders and a lack of market confidence. New orders also decreased at a faster pace. Moreover, the latest reduction in new business was the fastest since October 2023. Where new orders decreased, panellists linked this to deteriorating market conditions and hesitancy among customers.
The rate of input cost inflation remained elevated, leading firms to raise charges sharply. Efforts to limit expenses contributed to a marked reduction in employment.
Staffing levels fell sharply in the East Midlands during February, with the pace of job shedding accelerating to the fastest since May 2020. In fact, excluding the pandemic period, the reduction was the steepest since July 2009.
Companies often linked lower staffing levels to efforts to limit labour costs ahead of the upcoming rises in employer National Insurance Contributions and the National Minimum Wage.
Lisa Phillips, Regional Managing Director, Midlands and East, Commercial Mid Markets, said: “It is tricky to find positives in the February Growth Tracker for the East Midlands as companies in the region suffered amid a lack of market confidence and hesitancy among customers.
“The muted demand picture was accompanied by worries about costs. Although firms were able to limit the rise in input prices to some extent, this was in part done on the back of job cutting. In fact, if you exclude the pandemic period, the reduction in employment was the largest since the Global Financial Crisis. Meanwhile, selling price inflation hit a 20-month high.
“One area of relative positivity came when firms were asked about the year-ahead outlook. Here, East Midlands companies were among the most optimistic in the country, second only to their neighbours in the West Midlands.”
Performance in relation to UK
The reduction in activity in the East Midlands was the fastest of the 12 monitored areas of the UK.
Despite weakness in output and new orders during February, companies remained confident that output will increase over the coming year.
Confidence ticked down only slightly from January and was the second-highest of the 12 monitored UK regions and nations, behind only the West Midlands.
More than 48% of respondents predicted a rise in output over the coming year, with optimism centred on hopes of an improvement in market demand. New product development is also set to help support growth of business activity.
With new orders declining, companies used spare resources to work on outstanding business. As a result, backlogs of work decreased for the twenty-ninth consecutive month. Moreover, the pace of depletion was substantial and the most pronounced since May 2020.
Only the North West posted a faster reduction in outstanding business than the East Midlands.
Although input costs continued to rise sharply in the East Midlands during February, the pace of inflation eased slightly from the nine-month high seen in January and was just below the average for the UK as a whole.
Where input prices did rise, this was often linked by panellists to higher labour costs, but also raw material prices. Cost pressures were much more pronounced at service providers than at manufacturers.
Efforts to cover increasing input costs meant that output prices rose again during February. Moreover, the pace of inflation quickened for the third consecutive month and was the steepest since June 2023.
Alliance Healthcare plans to close two distribution centres and downsize a third, placing up to 490 jobs at risk. The company intends to shut sites in Nottingham and Hinckley while cutting 110 roles at its South Normanton facility. Operations will be consolidated into a new logistics hub in Birmingham, set to open in 2026.
The restructuring is part of an effort to modernise distribution, as some existing sites are considered outdated and costly to upgrade. The Usdaw trade union, representing workers at the Nottingham site, has confirmed consultations will begin soon to assess the impact and challenge the business case.
Insolvency-related activity across the UK rose sharply in February, with Yorkshire and the Humber recording a 39% increase, according to data from R3, the UK’s insolvency and restructuring trade body. The East Midlands (79%) and South West (77%) saw the most significant jumps, while Northern Ireland was the only region to see a decline (-38%).
The data from Creditsafe, includes liquidator and administrator appointments and creditors’ meetings. Meanwhile, new business start-ups remained stagnant, rising just 0.2% in Yorkshire and the Humber—the only English region to see growth. Scotland recorded the highest start-up increase at 9%, while Northern Ireland and Wales also saw slight gains.
Quickline has introduced a virtual work experience portal to help young people and job seekers in Yorkshire and Lincolnshire explore career paths and develop essential skills. Created in partnership with Engaging Education, the free platform provides industry insights in engineering, HR, marketing, and data analysis.
The initiative, launched during National Careers Week (3-8 March), is designed for students aged 13 to 19 and is also available to job seekers aged 19+ in South Yorkshire through job centres and community organisations.
The portal features real-world advice from professionals, interactive challenges, and quizzes. It is part of Quickline’s social value commitment under Project Gigabit, the UK government’s programme to expand high-speed broadband in underserved areas.
The UK government has rejected plans for a £750 million rail freight hub in Leicestershire, citing infrastructure and road safety concerns.
Developer Tritax Symmetry proposed the Hinckley National Rail Freight Interchange (HNRFI) on 662 acres of farmland between Hinckley and Leicester, claiming it would create over 8,000 jobs. However, Transport Secretary Heidi Alexander ruled that the project’s potential negative impacts outweighed its benefits.
The decision was based on concerns that increased lorry traffic would overwhelm M69 junctions, pose safety risks in Sapcote, and disrupt local transport with 775-metre-long trains at the Narborough level crossing. Leicestershire County Council and local MPs, who opposed the project, welcomed the decision, arguing the plan lacked adequate infrastructure support.
Tritax Symmetry expressed disappointment and is seeking legal advice on potential next steps.
Hockley Developments, the supported living and residential developer, has secured planning permission for four schemes across the East Midlands and South Yorkshire in the last three weeks.
At Smith Crescent in Coalville, the green light has been granted for the construction of six three-bed houses, one two-bed supported living bungalow, two one-bed supported living bungalows, and 14 one-bed supported living apartments, with associated private highway, off-street parking and amenity spaces.
Meanwhile, on Sheffield’s Mansfield Road, Hockley Developments has received the go-ahead for two four-bed semi-detached houses and 15 supported living apartments in a two-storey block with communal/staff spaces, supplementary parking and cycle storage facilities.
Mansfield Road, Sheffield
On Regent Street in Kimberley, permission has been given for the construction of a three storey building comprising 12 supported living flats with external areas to provide parking and amenity space including bin and cycle stores.
Finally, in Leicester, at Dupont Gardens/Liberty Road/Tatlow Road, plans have been approved for the demolition of existing garages at the site and the construction of four two-bed supported living dwellings, and associated access, parking and landscaping.
Coming in quick succession, three of the approvals have been granted in the last week alone.
Leicester and Derby have emerged as top UK cities for commercial property investment in 2025, according to a survey by the Alan Boswell Group. The study ranked 31 major cities based on business closure rates, crime levels, retail sales performance, and rateable property values.
Leicester secured the top spot with a score of 7.06/10, benefiting from retail sales reaching 100.3% of 2019 levels and a modest 3.79% increase in rateable value over five years. The city also reported low crime rates, with only six shoplifting cases and around one non-residential burglary per 1,000 businesses, making it an attractive location for investors.
Derby ranked third with a score of 6.99/10, supported by strong retail sales at 102% of 2019 levels and a low non-residential burglary rate of one per 1,000 businesses. The city’s commercial property market appears stable, with a lower level of empty premises relief (£193,291 per 1,000 businesses) compared to Leicester (£261,469 per 1,000 businesses), suggesting higher occupancy rates.
Both cities offer a favourable environment for commercial property investment, with steady demand and low business closure rates contributing to their strong rankings.
Too Good To Go and partner CEVA Logistics have hit an impressive milestone, distributing 100,000 Too Good To Go Parcels in just four months. The achievement underscores the growing success of the collaboration, providing a sustainable solution for FMCG brands to manage surplus food and reduce food waste.
To celebrate this milestone, Rosie Wrighting, MP for Kettering, visited CEVA Logistics’ Midlands facility, where Too Good To Go Parcels are processed and packed for delivery. This visit highlighted the role CEVA Logistics plays in ensuring brands, including Tony’s Chocolonely, Heinz, and many others, can easily and effectively distribute their surplus products through Too Good To Go.
Rosie Wrighting, MP for Kettering said: “It is brilliant to see Too Good To Go and CEVA Logistics working together to provide a sustainable solution to surplus food, create jobs for local people and distribute an impressive 100,000 Parcels in such a short space of time. Tackling food surplus is so important – nobody wants to see good food go to waste.”
A spokesperson at Tony’s Chocolonely said: “Partnering with Too Good To Go has given us a powerful, sustainable way to manage our surplus and stay connected with our conscious consumer base.
“We’re proud to be part of this growing movement, especially as Too Good To Go Parcels continues to make a positive impact, having already hit the 100,000 milestone. This collaboration benefits both the environment and our customers in meaningful ways.”
A spokesperson at Heinz said: “We’re thrilled to see the incredible success of the partnership between Too Good To Go and CEVA Logistics, reaching the impressive 100,000 milestone for parcels produced. This collaboration underscores the importance of sustainable solutions in managing surplus food and reducing waste.
“In each Parcel, consumers can expect to find a variety of their favourite Heinz products, including baked beans, soups, pasta sauces, and ketchup, along with other pantry staples. These items help reduce surplus stock while ensuring people have access to nutritious, familiar food options. It’s exciting to be part of such a positive movement that’s a win for everyone involved.”
Through Too Good To Go Parcels, brands can directly reduce food waste caused by excess stock, packaging changes, or cosmetic imperfections. This service not only reduces waste but also allows brands to recoup profits on products that would otherwise go unsold or discarded, turning potential losses into environmental and financial wins.
The Too Good To Go app now connects over 17 million registered users in the UK with brands committed to sustainability.
Steve Barry, Senior General Manager from CEVA Logistics, said: “Reaching 100,000 Parcels shipped across the UK with Too Good To Go shows the power of collaboration in tackling food waste by driving sustainable change, not just in our local community but across the globe.
“MP Wrighting’s visit to our Northamptonshire operation underscores this milestone and acknowledges not only the hard work of our team but also the positive impact we can make together.”
Sid Baveja, VP Operations for Central Europe at Too Good To Go, said: “We’re really proud to have reached this milestone with our partners at CEVA Logistics.
“Globally, 40% of food produced is still being wasted, so knowing that we can successfully provide technology enabled solutions to manufacturers that help them manage surplus food items and redistribute them to consumers with convenient delivery is a promising step in the right direction.”
Plans for nearly 1,300 new homes on brownfield sites across the East Midlands have moved a step closer. East Midlands Combined County Authority (EMCCA) has now identified 13 potential schemes that could deliver these homes across Derbyshire and Nottinghamshire.EMCCA has £16.8 million from the Brownfield Housing Fund (BHF) to support projects that meet funding rules and can be completed on time. The 13 housing projects in the pipeline include developments in New Balderton, Langley Mill, Heanor, Shirebrook, Ilkeston, Arnold, Derby, Chesterfield, and Nottingham.The total cost for these 12 projects is £15.485 million, leaving £1.315 million still available. EMCCA is looking at other projects to make sure all the funding is used before the March 2026 deadline.As part of this ongoing process, EMCCA has agreed to work with local councils to approve plans for the preferred schemes before the next board meeting in June 2025.
Mayor of the East Midlands, Claire Ward, said: “These are crucial plans that allow us to transform underused sites into thriving residential communities. “We have some exciting projects in the pipeline and it is vital we invest in new homes and affordable homes in our cities and communities to help address the housing shortages.”EMCCA received 50 expressions of interest in bidding for funding for schemes across the region. Independent experts Cushman and Wakefield assessed the applications based on criteria including the ability to get schemes underway quickly.
WBR Group, the independent provider of SSAS administration and tax advisory services, has published the results of a recent survey conducted over the last two weeks and during a webinar on inheritance tax (IHT) and pensions which has revealed overwhelming opposition to the proposed introduction of IHT on unused pensions.
The survey, which gathered responses from industry professionals, highlights significant concerns about the fairness and practicality of the proposals.
Caitlin Southall, Head of SSAS Proposition at WBR Group said: “The proposed introduction of IHT on unused pensions is not just a concern, it is a looming disaster for the pensions industry. These changes are not only impractical but also a grave injustice to those who have diligently and responsibly saved for their retirement.
“We implore the Government to reconsider these draconian proposals and collaborate with pension experts such as us to forge a more balanced and equitable solution that truly supports long-term pension savings. The future financial security of countless individuals hangs in the balance.”
90.41% of respondents agreed or strongly agreed that the introduction of IHT on unused pensions is both retrospective and unfair.
One respondent commented: “Our strategy over many years has been to leave our home and pension so that our son can look after his severely disabled brother. These plans are ruined and at our age, there is no time to make effective alternative arrangements. Our IHT bill has gone from around £100k to around £800k as a result of the budget.
“The impact on our family is catastrophic and if our son cannot afford to be a 24/7 carer his brother will have to go into care, where he is likely to be miserable, and the cost will end up with the local authority. This has not been properly thought through for families with caring responsibilities.”
Furthermore, an overwhelming 97.26% of participants agree or strongly agree that the proposals force pensions into an IHT regime that does not accommodate the practicalities of current pension rules or administration processes.
The timescales for payment of any IHT are deemed unworkable, failing to acknowledge the complexities of discretionary death benefits. This sentiment reflects the industry’s concern that the proposed changes are impractical and could lead to significant administrative challenges.
One professional noted: “A change of this nature and in the manner proposed undermines the merits of undertaking long-term personal financial planning. Which does not serve the interest of individuals or the state.”
Additionally, 97.26% of respondents agree or strongly agree that trustees and providers will incur additional costs to administer the proposals, which will likely be passed on to consumers.
This burden is considered unfair and is expected to reduce pension engagement, contrary to Government policy. The increased costs and administrative burden are seen as significant obstacles that could discourage individuals from engaging with pension schemes.
One respondent said: “The proposals are terrible and have not been thought through. All client feedback has been negative and the retrospective nature of this is unreasonable.”
The survey also reveals that 100% of those surveyed agreed or strongly agreed (82.19% strongly agree) that the proposals assume personal representatives will have the necessary information to pay discretionary benefits immediately after a member’s death and that the pension has sufficient liquidity to cover any IHT due. These assumptions are seen as unreliable, further highlighting the impracticality of the proposed changes.
One comment emphasised: “The pension/IHT proposals are highly retrospective and consequently potentially Ultra Vires and subject to future legal challenge and the biggest mis-selling of pensions proffered by UK governments since pension simplification in 2006.”
Taken as a whole, 82.19% of respondents strongly agree (and 16.44% agree) that the proposals, along with the potential unexpected tax burden and increased complexity, will act as a major disincentive for consumers to engage with pensions.
The survey results underscore the industry’s strong opposition to the proposed IHT on pensions, highlighting the need for a more practical and fair approach that aligns with current pension rules and administration processes.
In response to these findings, Caitlin from WBR Group has published an open letter to the pensions minister, Torsten Bell, urging a reconsideration of the proposed IHT changes. The letter emphasises the industry’s concerns and calls for a more thoughtful and equitable approach to pension taxation.
Reuseabox, the new, recycled, and used cardboard boxes and packaging solutions firm, has purchased a 78,000 sq ft warehouse in North Hykeham, Lincoln.
After renting two warehouses in Lincolnshire and Nottinghamshire, the move marks a significant leap from the business’s previous 20,000 sq ft of space, providing nearly four times the capacity to scale its operations.
With the additional space, Reuseabox has also been able to welcome more suppliers on board and introduce more lines of used boxes.
The new site will now serve as Reuseabox’s main headquarters.
While the move follows the closure of Cartwright Brothers after over 100 years in business, Reuseabox sees this as an opportunity to breathe new life into an historic site.
Founder, Jack Good, said: “It’s always sad to see a long-standing business like Cartwright Brothers close its doors. They played a vital role in the community for over a century, and we hope to carry forward a legacy of service and sustainability from this site.
“Purchasing our own site after 10 years of operating has taken sheer determination and continuous reinvestment into scaling our operations. This move marks a new chapter for Reuseabox, giving us the space and infrastructure to grow even further.
“There’s plenty of work ahead to make this site our own, but we’re excited to get started. We can’t wait to welcome suppliers and customers in the autumn as part of our 10-year anniversary celebrations.”
The new site will allow Reuseabox to improve its operations and services for businesses looking to cut waste, expand its team, meet the growing demand for sustainable packaging solutions and help businesses reduce their Scope 3 emissions.
Reuseabox is working towards making its warehouse carbon neutral by 2030.
By continuing to use the site, you agree to the use of cookies. more information
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.
