Business

When executives complain about tax, they rarely have just one levy in mind. A North Sea producer facing an effective tax rate of 78 per cent on profits, a drinks importer hit three times by a packaging payment glitch and a venue staring at a 300 per cent jump in rateable value all see different headlines, but the same trend.

Behind the noise sits a structural shift. The UK has layered an Energy Profits Levy on top of corporation tax, introduced an extended producer responsibility regime for packaging, scheduled a fresh business rates revaluation for 2026 and signed off employer National Insurance rises for 2025 and beyond. Each measure can be justified on climate, fiscal or fairness grounds. Taken together, they amount to a new tax stack that shapes which investments get made, where jobs are based and which tickets or products rise in price.

This is less a story about one controversial levy and more about how overlapping charges quietly rewrite business models. Energy, logistics, consumer goods and live entertainment are all discovering that their margins depend as much on the interaction between taxes as on any single rate. For smaller firms, the administrative drag is becoming almost as significant as the cash cost.

What do we actually mean by a UK tax stack?

Think of the tax stack as a set of layers rather than a single headline rate. At the base sit corporation tax and VAT. Add to that employer National Insurance, due to rise from 13.8 per cent to 15 per cent in 2025 to 2026, plus sector specific levies such as the Energy Profits Levy and the new packaging fees, and finally local costs like business rates, congestion charges and clean air zones.

In the North Sea, the stack is brutally visible. The Energy Profits Levy has been increased three times since 2022 and, combined with existing ring fence taxes, leaves some upstream projects facing an effective tax rate of 78 per cent. Industry groups and recent chamber of commerce reports warn that without reform, output could fall by around 40 per cent by 2030, putting tens of thousands of jobs at risk as investment shifts overseas.

Packaging producers are grappling with a different configuration. Under the Extended Producer Responsibility scheme, firms above certain thresholds must fund the full net cost of household packaging waste collection and recycling, raising more than 1 billion pounds a year for councils once fully implemented. When a direct debit glitch recently led to nearly 500 companies being charged two or three times at once, right in peak trading season, it exposed how tight cash flows are even in sectors that look profitable from the outside.

On the property side, business rates restructure the stack again. Draft values for the 2026 revaluation show sharp increases for some large venues and logistics sites, with analysis suggesting arena rateable values could rise by up to 300 per cent and a wider 15 per cent jump in the overall English tax base, equating to an extra 1.8 billion pounds a year in business rates for major employers.

Snapshot

The new tax stack is not one law but the combination of windfall taxes, producer levies, business rates and higher NICs, which together can turn viable projects into marginal ones even when any single rate appears manageable.

How is the stack hitting energy, logistics, FMCG and live events?

Energy: investment decisions on a knife edge

The North Sea is the clearest example of a stacked regime changing long term plans. A 78 per cent marginal tax rate on oil and gas profits, combined with volatile prices and high capital costs, means only the most resilient projects still make sense. Trade bodies point to survey data showing one in three offshore firms expecting to cut North East Scotland headcount within five years, and over 40 per cent of forecast 2026 revenue coming from outside the UK Continental Shelf as companies divert activity to more predictable regimes.

For integrated energy companies, the result is a strategic pivot. New UK exploration is shelved, while any surplus cash is steered into lower risk renewables or overseas hydrocarbons. That choice is influenced by the total tax stack, not just the headline levy, because higher employer NICs and business rates on plant add to lifecycle costs. Ultimately it affects domestic supply, the pace of transition and the stability of supply chains that depend on offshore work.

Snapshot

In energy, the tax stack pushes firms to move capital abroad or towards lower risk assets, which may be rational for shareholders but leaves domestic output and supply chains exposed.

Logistics and FMCG: thin margins, thick rulebooks

Logistics operators sit at the junction of several levies. Warehouses and distribution centres are typically high value properties, so they feel the full force of business rates revaluations. Fleet operators face fuel duties, clean air charges and vehicle tax, while employer NICs rise in parallel. On top of that, any firm that is the first UK owner of packaged goods must register for packaging EPR fees, which vary by material and recyclability.

Consumer goods manufacturers face similar layers. Many operate on tight operating margins of 3 to 5 per cent, so incremental increases in packaging fees and transport costs quickly drive pricing decisions. Industry groups have already warned that extended packaging charges are likely to push up the price of everyday items such as drinks and household goods, as producers pass through the cost of meeting higher recycling standards.

The compensation for public sector employers on NICs does not apply here, so private producers carry the full burden of higher payroll taxes as well as the administrative load of complying with complex new packaging rules. For mid sized FMCG brands that lack the economies of scale of multinationals, the tax stack constrains their ability to invest in new products or decarbonisation projects.

Live entertainment: business rates and fragile venues

Live events are caught by a different combination. The 2026 revaluation is expected to more than double the business rates bills for some arenas by the end of the cycle, as rateable values catch up with higher takings and new venues. Analysis by tax consultancies suggests that flagship arenas in London and Manchester could see rateable values jump by up to 300 per cent, with transitional relief only delaying the full impact.

At the same time, employer NICs, local licensing fees and policing costs all feed into the stack. Big operators have some ability to absorb shocks, but the likely outcome is higher ticket prices and shorter tours, as promoters trim dates to manage risk. Smaller venues, already operating on slim surpluses, risk closure if they cannot negotiate reliefs or benefit from cultural exemptions.

Snapshot

Whether you run a rig, a warehouse or an arena, it is the combined effect of national levies, local rates and sector specific rules that dictates whether your next project clears the hurdle rate.

How are finance teams adapting to the new tax stack?

Inside boardrooms, tax has shifted from a narrow compliance function to a strategic mapping exercise. Finance teams are building internal dashboards that show how energy levies, packaging fees, rates and NICs interact across sites and product lines, often colour coding exposures by region or business unit. Many teams now generate visual risk heat maps every quarter and, in practical terms, an online image editor is a quick way to update those charts in board packs as thresholds and draft valuations move.

Scenario planning is becoming more visual too. Rather than relying solely on dense Excel models, CFOs are presenting a small set of diagrams that show how cash flows change under different policy paths, such as an early end to the Energy Profits Levy or a steeper business rates multiplier. When those diagrams need to be localised for different audiences, from lenders to unions, using an online image editor to tweak labels, currencies or annotations saves time compared with commissioning fresh graphics for each iteration.

For SMEs that lack a full tax department, the response is necessarily scrappier. Owner managers might sketch a simple tax stack for their business on a single slide, showing corporation tax, NICs, sector levies and local charges as separate blocks. Even there, a basic online image editor is often enough to turn a rough sketch into something legible for a bank manager or potential investor, so stakeholders can see at a glance where margins are under the most pressure.

Snapshot

The complexity of the stack is pushing finance teams towards more visual, scenario based planning, turning tax into a design and communication problem as much as a legal one.

Who actually benefits from this shift in the tax mix?

Not every business model loses out from a stacked regime. Low waste and circular economy players, for example, can benefit from packaging fees that penalise hard to recycle materials. Brands that invest early in refill stations, lightweight packaging or concentrated formulas reduce their fee exposure and can market that saving to environmentally conscious consumers.

Asset light businesses are natural winners. Software firms, platforms and service providers with modest property footprints and relatively small payrolls face lower relative exposure to business rates and NICs. They still pay corporation tax and VAT, but the lack of heavy assets or complex packaging supply chains means fewer sector specific layers.

In energy, companies that pivot towards renewables and grid services may benefit from investment allowances or different fiscal regimes, especially if they can demonstrate alignment with net zero goals. The risk is that a punitive stack on hydrocarbons accelerates that shift faster than the domestic supply chain can absorb, leading to offshoring of both fossil and clean energy investment.

Snapshot

The emerging tax architecture rewards low waste, asset light and often more digital models, while squeezing capital intensive, low margin sectors that are hardest to move.

What would a pro growth simplification for SMEs look like?

Few serious voices argue for scrapping environmental or local funding objectives altogether. The debate is about design. For smaller businesses, a growth minded simplification would start with stability: multi year commitments on key rates and thresholds so that investment plans are not constantly rewritten around each fiscal event.

A second step would be consolidation. Rather than piling separate reporting portals and payment timetables on SMEs, government could explore a single interface for sector levies and local charges, with clear dashboards showing cumulative exposure. Minimum thresholds for registration could be aligned, so that firms do not have to track slightly different volume or revenue tests for every scheme.

Third, more of the revenue could be recycled into targeted reliefs that encourage productivity improving investment. For example, allowing faster relief on digitalisation, green equipment or export development in exchange for complying with extended producer responsibility rules would align incentives rather than simply extracting cash. Support for independent advice, especially for firms in regions with high deprivation or sectoral dependence, would also help avoid a two tier outcome where only large corporates can navigate the system efficiently.

Finally, the state could do more to model its own tax stack explicitly. Publishing regular impact assessments that show how new policies interact with existing levies across typical business types would give entrepreneurs a clearer sense of the playing field and might dampen some of the political volatility that has characterised recent tax policy.

In summary

The new UK tax landscape is less about headline rates and more about interaction. A North Sea operator, a drinks importer, a logistics warehouse and a music venue now face overlapping levies that build into a heavy stack, even when individual measures look reasonable in isolation. That stack is already steering capital, pricing and hiring decisions in ways that will only become fully visible over the coming decade.

For government, the challenge is to meet fiscal, environmental and social goals without hollowing out the very sectors that supply energy, jobs and culture. For businesses, the task is to understand their own tax stack in detail, adjust business models where possible and make a persuasive case when the architecture stops adding up. The firms that treat tax as part of strategic design, not just compliance, will cope best with a regime where the real pressure comes from the layers, not just the labels.

FAQ

What is meant by the UK business tax stack?

The tax stack refers to the combined effect of corporation tax, VAT, employer National Insurance, sector levies such as the Energy Profits Levy and packaging fees, plus local charges like business rates, congestion and clean air zones.

Why is the Energy Profits Levy such a concern for North Sea firms?

Because it sits on top of existing ring fence and supplementary charges, the levy pushes the marginal tax rate on many upstream projects to around 78 per cent, which industry groups say risks driving investment and jobs overseas.

How does the new packaging regime affect consumer prices?

Extended Producer Responsibility rules shift the full net cost of household packaging waste to producers. Many companies expect to pass some of that cost into the prices of everyday items such as drinks, food and appliances.

Why are live entertainment venues worried about the 2026 revaluation?

Draft rateable values indicate that large arenas could see property tax valuations rise by as much as 300 per cent, meaning business rates bills are likely to more than double over the next cycle, which could feed into higher ticket prices.

What would help small businesses cope with these changes?

SMEs would benefit from more stable multi year tax plans, simpler and more aligned thresholds, consolidated reporting portals and reliefs that reward investment in productivity, digital tools and lower waste operations.

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The new tax stack: how overlapping levies are quietly rewriting UK business models

In just four months, millions of small businesses, sole traders and landlords will need to change how they track and report their finances to HMRC.

Making Tax Digital for Income Tax (MTD for IT) will come into effect and means moving away from annual, paper-based tax returns to more frequent, digital reporting.

Under the new rules, you’ll need to use HMRC recognised software to keep digital financial records, send quarterly updates on income and expenses and complete an annual declaration that confirms your final tax position for the year by the usual 31 January deadline. It’s a big change and the biggest shift in personal tax since self assessment was introduced more than 30 years ago.

MTD for IT will be rolled out in stages. If you’re a small business, sole trader or landlord that has an annual income of more than £50,000 then you’ll be included from April 2026. It will then be extended to include those earning over £30,000 by April 2027, and anyone turning over more than £20,000 from April 2028.

With such a big shift ahead, the coming months will be very important. Taking steps to get ready for the changes will help you move through the transition with confidence and build new habits that you’ll rely on for years to come.

Why MTD for IT is happening

The introduction of MTD for IT is part of the UK government’s wider push to modernise the tax system and bring it in line with the digital tools that already power much of the economy. For years, policymakers have emphasised the need to invest in technology and reduce the administrative burden created by outdated, paper-based processes. MTD for IT is one of the key steps in this ambition to build a more modern and future-ready tax system.

A fully digital approach to tax is intended to make financial admin feel easier and simpler. However, for those that still rely on paper notes or spreadsheets, the shift might feel overwhelming. More than two-fifths (42%) of the smallest businesses are not using any finance or accounting tools, and only 27% believe they get their tech and software choices right according to our survey. For many of you, MTD for IT will mean using digital accounting tools for the first time and getting comfortable with a whole new way of working.

Choosing the right tools to help

Getting ready for a new digital way of doing tax, starts with picking the right software for bookkeeping. Look for HMRC recognised options that are simple to use. Ideally, digital tools should bring your financial admin together so you have one place where you can log your expenses, manage tax and keep on top of your finances.

It also helps to choose tools that make your everyday jobs feel easier and quicker. Features like being able to snap a picture of a receipt on the go using a mobile app will mean that you can log expenses instantly and automatically update your accounts. It’s a small change but one that can save you time and cuts down the chance of making mistakes that often creep in with more manual ways of working.

What to consider next

Once software is in place, use the remaining time to become more comfortable with digital record-keeping and quarterly reporting. With the right set-up, your income and expenses should flow straight into your software and quarterly updates, giving you a good idea of how your business is doing and what your tax bill is looking like after each quarterly update. This should mean fewer end-of-year tax surprises.

Up-to-date digital records will also make it easier to understand what’s coming in and going out. Our research shows nearly two in five small business owners (38%) are unaware if they were in profit the month before, and over half (55%) struggle with cash flow management. With everything captured in one place, you will be able to get a clearer view of your numbers so you can spot early warning signs or issues – from unpaid invoices to unexpected costs, and changing profit margins.

Get ready now

If you want extra assurance that everything is set-up right, an accountant or bookkeeper can also be a huge help. They can translate HMRC’s guidance into practical steps, help you select the right digital tools and guide you on how to manage the new reporting requirements. This kind of support will make the changes feel more manageable.

The move to MTD for IT might take some time to get used to, but taking action now will make the transition much easier. By taking steps to get ready for the changes, you can ease the pressure of the looming deadline and put yourself on a stronger financial footing for the future.

Get ready for MTD for IT – sign-up for one of our webinars that will break-down everything you need to do to prepare for the changes and view our range of MTD ready plans here with new customers getting 95% off for six months.

By Stuart Miller, Director, Public Policy & Tech Research, Xero

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What will Making Tax Digital for Income Tax mean for small businesses in 2026 and beyond?

Every creative person has had that moment where they look at something beautifully personalized—a monogrammed cutting board, a customized metal tumbler, a sleek engraved leather wallet—and think, “I could totally make that.”

Once upon a time, that idea would’ve required a workshop full of industrial tools and a level of skill that bordered on wizardry. Today? Thanks to modern laser engraving technology, that same idea can turn into a real business with surprising ease. Laser engraving has quietly grown from a niche hobby to a legitimate entrepreneurial goldmine, especially for people who love blending creativity with hands-on craftsmanship.

When Your Hobby Becomes a Business (Without Killing the Fun)

Let’s be honest: not every hobby-turned-business manages to stay enjoyable once it becomes a job. But using a laser cutter and engraver might be the exception. Instead of turning creativity into a chore, this industry tends to make it even more exciting. Watching a laser etch a design into wood, leather, or acrylic is one of those oddly satisfying experiences that never gets old. Better yet, customers genuinely appreciate the human touch behind custom work. They like knowing their engraved gift or décor piece came from an actual creator—not a faceless mega-factory. That connection keeps the work personal, meaningful, and fun, even as your business grows.

Personalization Is the New Standard

Today’s shoppers want everything personalized—names, initials, dates, inside jokes, special messages, custom graphics, you name it. And that’s excellent news for laser engraving entrepreneurs. This industry thrives on small-batch orders and one-of-a-kind products, which means you don’t need to compete with mass-produced goods. Instead, you’re offering something they can’t get from retail shelves: meaning. A customized wedding gift, an engraved corporate award, a distinctive set of coasters—these items aren’t just products. They’re emotional purchases tied to milestones and memories, and customers are willing to pay for that personal touch.

The Versatility That Keeps Your Options Wide Open

One of the biggest perks of laser engraving? The sheer range of materials you can work with. Wood, acrylic, leather, stainless steel, glass, stone—if it sits still long enough, there’s a good chance you can engrave it. This flexibility gives new business owners a giant playground of product ideas to explore. You can test markets, follow trends, and shift your offerings without reinventing your entire operation. Wedding season heating up? Offer engraved signs and table décor. Corporate gifting on the rise? Roll out branded drinkware or plaques. The technology moves with you, not against you.

You Don’t Need a Fortune to Get Started

Many would-be entrepreneurs never launch because they assume they need huge startup capital. Laser engraving flips that assumption on its head. Entry-level machines are reasonably priced, and quality equipment is more accessible than ever. Once you have your laser, a few basic materials, and design software, you’re well on your way. And unlike businesses that take months to become profitable, laser engraving often produces a fast return on investment because personalized products tend to command higher prices. You’re not just selling an item—you’re selling craftsmanship, customization, and emotional value.

The Power of E-Commerce at Your Fingertips

A laser engraving business pairs beautifully with today’s online selling platforms. Whether it’s Etsy, Shopify, Facebook Marketplace, or your own website, you can reach customers without ever needing a storefront. Plus, local demand is strong: businesses often need signage, employee gifts, branded merchandise, and décor. You can work with wedding planners, event organizers, schools, nonprofits, and corporate clients—all while shipping products to customers around the country. In short, your business can live anywhere and serve everywhere.

Precision Meets Creativity—A Dream Duo

Laser engraving feels like the perfect marriage of artistry and engineering. You bring the ideas, the creativity, and the personal flair. Your laser provides the accuracy, consistency, and high-quality finish that customers expect. That balance makes scaling your business much easier. Whether you’re making one piece or fifty, the final product looks clean, professional, and polished every single time. And customers notice—trust me, nobody forgets the friend who gave them a beautifully engraved keepsake they’ll treasure for years.

A Simple Workflow With Impressive Results

One of the best-kept secrets of the laser engraving world is that it’s surprisingly low-maintenance. Once you learn how to operate your machine safely and effectively, the process is smooth and efficient. You design, you prep, the laser does the heavy lifting, and you finish the product. There’s no need for huge, messy setups or long manufacturing timelines. You can run the machine while you answer messages, work on marketing, or brainstorm new ideas. It’s one of the few creative businesses that truly respects your time.

Room to Grow—At Your Pace

A laser engraving business isn’t locked into one direction. As your customer base expands, you can branch into new categories or upgrade your equipment. Add a fiber laser for metalwork, invest in a CO₂ laser for thicker materials, or introduce UV printing for full-color detail. Your business can grow steadily and naturally without forcing you into major, risky leaps. The scalability makes it a smart option for both side hustlers and full-time dreamers.

A Business That Lets You Make Something Meaningful

Laser engraving gives you the rare chance to create items that genuinely matter to people. Your products become anniversary gifts, graduation presents, memorial pieces, wedding décor, and souvenirs from life’s biggest moments. You’re not just crafting items—you’re crafting memories. And that adds a layer of fulfillment that many businesses can’t match.

Laser engraving has carved out a powerful space in the modern entrepreneurial landscape. It’s creative, practical, scalable, and surprisingly easy to jump into. With demand for personalization reaching all-time highs and accessible technology making production more seamless than ever, there’s never been a better moment to turn your passion into a business. If you’re looking for an opportunity that blends creativity, flexibility, meaningful work, and real earning potential, laser engraving just might be the ticket you’ve been waiting for. Whether you dream of a thriving small business or a lucrative side hustle, this technology opens the door—and all you have to do is step through.

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Turning Passion Into Business: Why Laser Engraving Technology Could Be Your Ticket to Entrepreneurship

Keir Starmer is set to appoint Richard Walker, the executive chair of Iceland Foods and a former Conservative donor, to the House of Lords — marking one of the most striking political shifts in recent years for a senior UK business figure.

The Guardian understands that Walker will join a cohort of around 25 new Labour peers expected to be announced later this month, giving the supermarket executive a direct platform in parliament to champion policies that have become central to his public campaigning, including closer ties with the EU and a more optimistic economic narrative.

Walker’s elevation to the Lords completes a rapid political realignment. A little over three years ago, he was being lined up as a potential Conservative MP candidate and had donated nearly £10,000 to the party in the summer of 2020, during Boris Johnson’s premiership. He was added to the approved Conservative candidates’ list in 2022.

But by 2023, Walker publicly severed ties with the party, accusing the Conservatives of having “drifted badly out of touch with business and the economy, and with the everyday needs of the British people”. He criticised the government’s management of key issues such as retail crime, inflation and the post-Brexit trading environment.

In early 2024, he endorsed Starmer after what he described as “a lot of soul-searching”, arguing that the Labour leader “has exactly what it takes to be a great leader”. Even then, he stopped short of framing himself as a future Labour politician. Yet his peerage will now make him one of the most prominent pro-Labour voices within British business.

Walker took over as executive chair of the frozen-food retailer in 2023, succeeding his father Malcolm, who founded Iceland in 1973. Both father and son have previously supported the Conservative Party and been regarded as part of the party’s natural business constituency.

His appointment to the Lords also comes at a politically sensitive moment for Starmer’s government. While several large retailers privately welcomed the fact that business rates reforms at the autumn budget were less punitive than expected, other business groups remain irritated by broader tax rises — including Labour’s decision to increase national insurance contributions.

The move also gives Labour a counterweight to the Conservatives’ established roster of retail peers, including Simon Wolfson, the chief executive of Next.

Labour declined to comment on the appointment. Walker has also been approached for comment.

Read more:
Keir Starmer to make Iceland boss Richard Walker a Labour peer

Some of the UK’s most prominent live-entertainment venues, including The O2, Co-op Live, Manchester Arena, the First Direct Arena in Leeds and Wembley’s SSE Arena, are bracing for some of the sharpest business-rate rises in the country after dramatic increases in their rateable values (RVs) were revealed for 2026.

New analysis from global tax firm Ryan shows that almost all major arenas have seen valuations surge, in several cases more than doubling, with Wembley Arena’s assessment rocketing by 300%. The spike reflects a return to packed schedules and booming post-pandemic demand for live music and events.

Alex Probyn, Practice Leader for Europe & Asia-Pacific Property Tax at Ryan, said the scale of the rises is the direct result of how arenas are valued.

“Arenas are assessed under the Receipts and Expenditure method, meaning business rates are driven by income and operating performance rather than rental evidence,” he explained.
“The 2023 rating list reflected conditions in April 2021, when most venues were shut or heavily restricted. The 2026 list reflects April 2024 — a period of full reopening. That dramatic shift in trading conditions is why many arenas are seeing such significant increases.”

Transitional relief in England will cap increases for large properties at 30% in 2026/27, then 25% plus inflation in the following two years. But because the caps compound annually, total liabilities over the whole three-year cycle can be far higher, even if the initial rise looks controlled on paper.

Ryan’s modelling shows that next year alone, even with the 30% cap, some arenas will face major cash increases:
• The O2 Arena, London: +£1.85m
• M&S Bank Arena Liverpool: +£507,825
• Co-op Live, Manchester: +£432,900
• Manchester Arena: +£386,280
• First Direct Arena, Leeds: +£199,800
• Utilita Arena Birmingham: +£166,500

Probyn warned that operators must not be lulled into a false sense of security by the transitional caps.
“Transitional relief will soften the first-year impact, but bills can still more than double over the full cycle,” he said. “With valuations of this magnitude, operators should be scrutinising the VOA’s assumptions very closely.”

With venues already under pressure from rising costs, tight margins and economic uncertainty affecting consumer spending, the latest rating list is set to put further financial strain on an industry still rebuilding after Covid-19.

Operators now face the prospect of significantly higher tax bills just as investment in new tours, productions and venue upgrades picks up pace.

Read more:
UK’s biggest arenas hit by huge business rates surge as valuations soar up to 300%

Lando Norris has become Britain’s newest Formula One world champion after holding his nerve through a tense title decider in Abu Dhabi, securing his first championship and ending the country’s five-year wait for another motorsport hero.

The 26-year-old McLaren driver, who grew up in Bristol and has long spoken of idolising Lewis Hamilton, finished third in the season finale, enough to clinch the title by just two points after a fiercely fought contest with Max Verstappen and team-mate Oscar Piastri. He becomes the 11th British world champion, and the first since Hamilton sealed his seventh crown in 2020.

Norris cut an emotional figure as he crossed the line, breaking down on the team radio before being congratulated by McLaren CEO Zak Brown.

“Thank you guys. You made a kid’s dream true,” he told the team through tears. “I love you mum, I love you dad. Thanks for everything.”

Norris entered the final race with his title hopes shaken after he and Piastri were disqualified from the previous grand prix for a technical infringement, an episode that dramatically reopened the championship battle and ignited questions about whether he could hold his nerve.

Starting second behind Verstappen, Norris was passed by Piastri on the opening lap, briefly putting his title hopes under strain. But the McLaren driver steadied himself, managed his pace and executed a calculated, mistake-free drive to bank the points he needed.

Verstappen, seeking a fifth consecutive title, and Piastri, chasing his maiden crown, pushed relentlessly across 90 minutes of strategic tension — but neither could overhaul the Briton’s points advantage.

As soon as Norris stepped out of the Papaya-orange McLaren, helmet off and eyes red, cheers erupted around Yas Marina. His mother, Cisca Norris, was the first to embrace him, followed by Piastri and senior team members.

“I haven’t cried in a while,” Norris admitted in parc fermé. “I didn’t think I would cry, but I did. It’s been such a long journey. Not many people get to experience this in Formula One. I’m very proud of myself , but I’m even more proud of everyone in the team.”

Norris’s path to the summit has been shaped by years of graft, global travel and family support. The son of business founder Adam Norris, who built e-mobility company Pure, Lando started karting at six, left school early to pursue motorsport full-time, and quickly rose through Europe’s junior categories before joining McLaren’s F1 programme.

His father, speaking moments after the chequered flag, said: “It’s been a really long, hard journey. Longer than you’d think. There’s been a lot of travelling to weird and wonderful places. He has always been fast and loved it more than everyone else.”

Celebrities including Emily Ratajkowski, Gordon Ramsay and Thierry Henry watched the drama unfold from the Abu Dhabi paddock.

Norris’s partner, model and actress Magui Corceiro, was in the McLaren garage throughout, and was visibly emotional as he became world champion. The couple, who have been together on and off for two years, embraced trackside as the celebrations began.

The championship marks a watershed moment for McLaren, who only a few seasons ago were battling near the back of the grid. Under Zak Brown and team principal Andrea Stella, the team has undergone a sweeping transformation, culminating in one of the most impressive competitive resurgences in recent F1 history.

Norris, who has spent his entire Formula One career at McLaren, paid tribute to the team’s revival.

“We’ve been through very difficult times and some great times. This year, we fought to the very last laps,” he said. “Max and Oscar didn’t make it easy, but that’s what makes this feel so special.”

Norris now joins a lineage that includes Sir Jackie Stewart, James Hunt, Damon Hill, Jenson Button and Hamilton, but his arrival as champion feels distinctly modern. A driver shaped by both digital-era fandom and classic racing discipline, he has become one of Formula One’s most popular figures far beyond the British Isles.

And now, officially, a world champion.

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Lando Norris crowned Formula One world champion after nail-biting Abu Dhabi finale

Airbus is set to secure the long-term future of almost 3,000 UK aerospace jobs after striking a long-awaited carve-out deal from Boeing’s takeover of Spirit AeroSystems, a move that ends months of uncertainty for workers in Belfast and Prestwick.

Sources say the world’s largest aircraft manufacturer will announce as early as Monday that it is taking on 1,550 staff at Spirit’s Belfast operations and a further 1,200 at the company’s plant in Prestwick, Scotland. It marks a major breakthrough in negotiations that have rumbled on since Boeing agreed a $4.7bn acquisition of Spirit last year.

The UK facilities — which produce wings, fuselage sections and critical aerostructure components for both Airbus and Boeing, have been operating under short-term agreements while the companies worked to untangle a deal that preserved the cross-supplier production lines.

For months, the fate of thousands of workers had appeared to hinge on whether Airbus and Boeing could agree terms. The Belfast site, formerly Short Brothers — and one of the crown jewels of the UK’s aerospace heritage, recorded a $670m loss in 2024, prompting concern for its future viability.

Under the emerging agreement, Boeing will pay Airbus a substantial dowry, expected to be in the hundreds of millions, to offset ongoing losses at the Belfast operation. Boeing is also expected to retain about 2,000 Spirit staff not transferring to Airbus.

Airbus plans to take full ownership of the Belfast wing facility, while co-locating with Boeing in another building producing A220 fuselages. Planning activity is already under way for what insiders expect will be an expansion of the wing plant, reinforcing the UK’s global reputation as a centre of excellence for wing design and manufacturing.

Prestwick will also shift under Airbus control, continuing production of leading and trailing wing edges for the A320 and A350 programmes.

Boeing moved to re-acquire Spirit after a series of high-profile safety failures, including the January 2024 mid-air blowout of a door plug on an Alaska Airlines 737 Max and the earlier fatal crashes of the Max programme in 2018 and 2019. Spirit, once part of Boeing before being spun out in 2005, has been embroiled in the fallout from the supply-chain and quality issues affecting the Max line.

Airbus, meanwhile, has capitalised on Boeing’s troubles to reclaim its crown as the world’s largest commercial aircraft manufacturer, though it, too, has faced pressures, including a software glitch last month that forced urgent updates across airline fleets.

Once the Spirit workforce transfers, Airbus’s total UK headcount, across civil aerospace and defence, will rise to about 14,000. The UK remains integral to Airbus’s global manufacturing footprint, with major wing programmes centred in north Wales and advanced design teams in Bristol.

The announcement also represents a rare win for the UK industrial base at a time when manufacturers are battling higher energy costs, rising payroll taxes and global competition for investment.

Boeing confirmed this week that it expects to complete its Spirit acquisition by year-end, after receiving approval from the US Federal Trade Commission. Airbus described the FTC ruling as “a significant milestone” towards securing Spirit’s capabilities “essential to our commercial aircraft programmes”.

A formal announcement from Airbus is expected early next week.

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Nearly 500 companies have been mistakenly charged multiple times under the government’s new packaging compliance scheme, after a “technical issue” triggered duplicate direct-debit withdrawals during one of the busiest trading periods of the year.

PackUK, the body created to administer Extended Producer Responsibility (EPR) charges, confirmed that 484 producers, around 11 per cent of those registered, saw their packaging-waste payments taken repeatedly without warning. Industry figures estimate the error resulted in hundreds of thousands of pounds being incorrectly removed from business accounts, with some hit for seven-figure sums.

Benchmark Drinks, which produces celebrity wine brands for Kylie Minogue, Graham Norton and Sarah Jessica Parker, was among those affected. Chief executive Paul Schaafsma said his finance team alerted him after three identical payments totalling about £700,000 vanished from the company’s bank account.

“We’re fortunate that we’ve got a decent amount of cash,” Schaafsma said. “But for businesses struggling or tight with cash at this time of year, taking three times your EPR amount is just irresponsible. For some producers it will be millions, and they’ll have staff and suppliers to pay. How does this sort of thing even happen? No one else takes a direct debit three times.”

PackUK emailed affected businesses on Wednesday saying “urgent action” was being taken and promising refunds “by close of play on Friday December 5”. But as Schaafsma and his team headed out for their Christmas party that evening, no refund had been received.

The blunder is the latest setback for the much-criticised EPR scheme, which many food and drink companies have branded “a stealth tax”. Under EPR, responsibility for the full cost of collecting, sorting and recycling packaging shifts from local councils to the companies producing it, a reform intended to incentivise better design and reduce waste.

But producers say the system is far more complex and expensive than ministers suggested, with unclear reporting requirements, uncertain cost estimates and concerns that rising compliance charges will ultimately be passed straight to shoppers.

“The government talks about keeping inflation down,” Schaafsma said, “but the irony is the government is causing more inflation than anybody else with these stealth taxes. There’s no accountability, we’re just told to shut up and pay the bill.”

A spokesperson for the Department for Environment, Food & Rural Affairs said the error stemmed from “an external financial services supplier”, adding: “We recognise the inconvenience this has caused and have processed refunds to all affected businesses.”

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Hundreds of businesses hit by double charges under new packaging tax scheme

Jamie Oliver is returning to the UK high street, six years after his restaurant empire fell into administration, with plans to relaunch Jamie’s Italian in London’s Leicester Square next spring.

The TV chef and entrepreneur, now 50, has struck a partnership with Brava Hospitality Group, the operator behind Prezzo, to revive the mid-market Italian chain, which once boasted around 40 UK sites before collapsing in 2019 with hundreds of job losses. While the brand survived overseas with more than 30 restaurants in 25 countries, it disappeared entirely from British town centres.

Oliver acknowledged the mixed economic backdrop but insisted the sector was ready for a shake-up.

“In theory it’s not the easiest time to return, but conversely I think it’s the perfect time,” he said.
“The mid-market needs excitement, surprise and delight, and that’s exactly what I am planning on delivering.”

The chef said he would take a hands-on role in menu development, ingredient sourcing, staff training, and the overall creative direction of the relaunched venue.

Jamie’s Italian originally opened in Oxford in 2008 in partnership with Oliver’s mentor, Gennaro Contaldo. After rapid expansion, high rents, rising costs and tougher competition contributed to its demise, one of the most high-profile UK restaurant collapses of the past decade.

Brava will now oversee the brand’s UK revival. Its chief executive, James Brown, said the group saw a clear opportunity to reinvent casual Italian dining for a new era.

“A lot of time and energy has gone into evolving the Jamie’s Italian concept,” he said.
“This marks an exciting new chapter for both Jamie’s Italian and Brava, and reflects our commitment to reimagining the high street with exceptional, modern hospitality.”

Ed Loftus, global director of Jamie Oliver Restaurants, said the partnership brought together “one of the world’s most recognised chefs with a highly capable operator and the long-term investment to build something with real longevity”.

The Leicester Square flagship is expected to serve as a blueprint for further UK openings if the comeback proves successful.

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Jamie Oliver revives Jamie’s Italian with Leicester Square relaunch six years after chain collapse

Piers Morgan is edging closer to a £100 million valuation for his YouTube-driven media venture, Uncensored, after securing a major round of investment from some of the most influential figures in global media and finance.

Sky News has revealed that Morgan is finalising a fundraising of about $30 million (£22.5 million), giving Uncensored a pre-money valuation of roughly $130 million (£97 million),  a remarkable leap for a business built around a single, high-profile presenter less than a year after his departure from Rupert Murdoch’s empire.

The financing round brings in blue-chip supporters. The Raine Group, the powerful US merchant bank known for advising on the sales of Chelsea FC and Manchester United, is set to become a key shareholder, with co-founder Joe Ravitch expected to join the Uncensored board.

Greek media magnate Theo Kyriakou, who owns Antenna Group, is also investing, alongside a number of global family offices. Marketing veteran Michael Kassan is advising on advertising strategy and may invest personally.

A source close to the deal said confirmation of key details is imminent.

Morgan eyeing ‘billion-dollar’ valuation

While Morgan’s personal stake has not been disclosed, insiders estimate that the crystallisation of a $130m valuation puts his interest comfortably into the tens of millions.

The ambition, one figure said, is far higher: “The ambition is to grow this into a billion-dollar company within a few years.”

Morgan is already assembling a senior leadership structure to help scale Uncensored into a broader digital media group. Plans include launching multiple editorial “verticals” under the Uncensored brand, spanning sport, history, technology and potentially politics, with prominent hosts fronting each channel.

Morgan’s strategy has been bolstered by blockbuster audience numbers. Interviews with Cristiano Ronaldo and Novak Djokovic have generated hundreds of millions of views after the athletes reposted clips on social media.

The Uncensored YouTube channel now boasts 4.3 million subscribers, about half of whom are based in the US. A surprisingly small share of viewers are British, with notable followings in the Middle East, South Africa and Asia — a demographic spread that has convinced Morgan that global audiences will support journalism beyond traditional national silos.

His access to major political figures, including President Donald Trump, whom he has interviewed repeatedly, is also expected to play into Uncensored’s growing international appeal.

Morgan severed ties with Rupert Murdoch’s News UK earlier this year in a deal that handed him full ownership of the Uncensored channel. A four-year revenue-sharing arrangement now allows News UK to take a slice of advertising revenue until 2029, while Morgan focuses on turning Uncensored into a standalone powerhouse.

Previously, his contract with Murdoch saw him write columns for The Sun and New York Post, present for TalkTV, and publish his recent book Woke Is Dead with HarperCollins.

Morgan’s ambitious expansion comes against a backdrop of seismic shifts across the media landscape. Netflix this week agreed an $83 billion takeover of Warner Bros, while Sky is in talks to buy ITV’s broadcast arm, and the Daily Telegraph could soon join forces with the Daily Mail.

Traditional publishers such as Reach, owner of the Daily Mirror and Daily Express, now carry valuations as low as £176 million, barely double Uncensored’s emerging worth.

Morgan believes these market dynamics open the door for personality-driven media brands to thrive: “Owning the Uncensored brand allows my team and me the freedom to build it into a standalone business … It’s clear from the US election that YouTube is an increasingly powerful and influential media platform.”

This weekend, he added: “I am very excited that some of the most experienced and successful players in the global media industry share my ambitious vision for Uncensored. This is the future of modern media.”

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Piers Morgan’s Uncensored nears £100m valuation as heavyweight investors back global expansion