Business
Travellers warned of bank holiday disruption
Getty ImagesMillions of people in the UK face travel disruption this bank holiday weekend, contending with busy roads, a rail strike and engineering works.
There is likely to be significant disruption on the rail network on CrossCountry routes from Aberdeen to Cornwall because of a strike by the RMT union over pay, safety and staffing.
The weather is looking to be mostly dry across the three-day weekend, with large crowds expected at festivals being held across the country.
Meanwhile, ferry passengers at the Port of Dover on Friday faced queuing times of almost two hours.
Ferry operator DFDS said at 13:00 on Friday that waits at check-in desks were around 40 minutes and it was taking more than an hour to clear border control.
Earlier on Friday, the Gatwick Express service was disrupted due to a signalling fault.
The RAC has also warned roads will be busy on Friday, with three million getaway journeys planned, and particularly heavy traffic on the M5 between Bristol and Devon.
Crowds are expected at events including London’s Notting Hill Carnival, the Reading and Leeds festivals, the Emerge festival in Belfast, the Edinburgh Fringe closing weekend, the Creamfields festival in Cheshire and the Women’s Rugby World Cup openers.
Monday is a bank holiday in England, Wales and Northern Ireland, making this the last long weekend before Christmas for those regions.
Will there be rail delays?
Network Rail has advised all passengers to check their journeys before travelling this weekend due to strikes and rail works.
There will be no CrossCountry services on Saturday due to strikes, and service alterations and cancellations are to be expected on Sunday.
A second strike on Monday will limit services on all CrossCountry lines between 08:00 and 18:00.
Trains between Birmingham, Reading and the south coast will not run, and nor will services between Leicester, Cambridge and Stansted airport.
There will only be a very limited service to the south-west and north of York.
On the East Coast Main Line, LNER will have no direct trains between London King’s Cross and Peterborough on Sunday due to engineering works. A bus replacement service will also run between Newcastle and Edinburgh.
In the West Midlands, buses will replace trains on some routes from Birmingham New Street due to engineering works.
Avanti West Coast will operate a reduced service from London Euston, and trains will be diverted from Birmingham New Street and Birmingham International.
London Northwestern services will run to and from Birmingham International only.
Network Rail said the “vast majority” of services would run, but some engineering works were “unfortunately unavoidable”.
How will traffic be?
Around 17.6 million holiday trips are expected to be made by car across the UK between Friday and the bank holiday on Monday, the RAC said.
It says the busiest times to drive will be between 10:00 and 19:00 on Friday, 09:00 and 17:00 on Saturday and 11:00 and 18:00 on Monday.
Transport analytics firm Inrix says the M5 between Bristol and Devon will probably bear the brunt of traffic, with the stretch from J15 north of Bristol to J23 for Bridgwater likely to see some of the worst delays.
The M20 in Kent could also suffer afternoon hold-ups on Friday, from J7 near Maidstone to J3 westbound and J1 at Swanley to J5 at Aylesford eastbound.
“We’re expecting major roads to airports and coastal destinations to be extremely busy, especially the south-east and south-west regions which could end up bearing the brunt of most holiday hold-ups,” Nick Mullender, the RAC’s mobile servicing and repairs team leader, said.
“Anyone planning routes through these areas should set off as early as possible or be prepared to spend longer in traffic.”
What will the weather be like?
Saturday will be dry but rather cloudy for many, although with a few sunny spells.
The north of Scotland and the far south-west will see the best of the sunshine.
Northern Ireland and Wales will see a few showers develop, and later Northern Ireland and the Hebrides will see some patchy rain arrive from the west with light winds.
Sunday will be warmer, with sunny spells and patchy cloud cover. Most parts will be dry, but a little rain will cross the north and west of Scotland.
Bank Holiday Monday will be warmer still, even very warm for parts of England and Wales with highs of 27C.
There will be a good deal of sunshine for most, but the south-easterly winds will strengthen in the far west with the chance of some showery rain across Northern Ireland later.
Will shops be open?
Major supermarkets will remain open during the bank holiday weekend, so there’s no need to rush off for a big shop to get you through.
There will be reduced hours, particularly on Sunday, so it’s best to check the opening times of your local as hours will vary shop-to-shop.
Businesses that will close on the Monday bank holiday include (you guessed it) banks, post offices and some other government services.
Benefit payments are due to be paid out on Friday ahead of the bank holiday weekend.
UK investment bank Peel Hunt has given some support to under-pressure Chancellor Rachel Reeves over last week’s Budget as it said efforts to boost the London market and invest in UK companies were “positive steps”.
Peel Hunt welcomed moves announced in the Budget, such as the stamp duty exemption for shares bought in newly listed firms on the London market and changes to Isa investing.
It comes as Ms Reeves has been forced to defend herself against claims she misled voters by talking up the scale of the fiscal challenge in the run-up to last week’s Budget, in which she announced £26 billion worth of tax rises.
Peel Hunt said: “Following a prolonged period of pre-Budget speculation, businesses and investors now have greater clarity from which they can start to plan.
“The key measures were generally well received by markets, particularly the creation of additional headroom against the Chancellor’s fiscal rules.
“Initiatives such as a stamp duty holiday on initial public offerings (IPOs) and adjustments to the Isa framework are intended to support UK capital markets and encourage investment in British companies.
“These developments, alongside the Entrepreneurship in the UK paper published simultaneously, represent positive steps toward enhancing the UK’s attractiveness for growth businesses and long-term investors.”
Ms Reeves last week announced a three-year stamp duty holiday on shares bought in new UK flotations as part of a raft of measures to boost investment in UK shares.
She also unveiled a change to the individual savings account (Isa) limit that lowers the cash element to £12,000 with the remaining £8,000 now redirected into stocks and shares.
But the Chancellor also revealed an unexpected increase in dividend tax, rising by 2% for basic and higher rate taxpayers next year, which experts have warned “undermines the drive to increase investing in Britain”.
Peel Hunt said the London IPO market had begun to revive in the autumn, although listings activity remained low during its first half to the end of September.
Firms that have listed in London over recent months include The Beauty Tech Group, small business lender Shawbrook and tinned tuna firm Princes.
Peel Hunt added that deal activity had “continued at pace” throughout its first half, with 60 transactions announced across the market during that time and 10 active bids for FTSE 350 companies, as at the end of September.
Half-year results for Peel Hunt showed pre-tax profits jumped to £11.5 million in the six months to September 30, up from £1.2 million a year earlier, as revenues lifted 38.3%.
Peel Hunt said its workforce has been cut by nearly 10% since the end of March under an ongoing savings drive, with full-year underlying fixed costs down by around £5 million.
Steven Fine, chief executive of Peel Hunt, said: “The second half has started strongly, with the group continuing to play leading roles across both mergers and acquisitions and equity capital markets mandates.”
Business
Gross GST collections for November stand at over Rs 1.70 lakh crore; up 0.7 per cent – The Times of India
GST collections: The Gross Goods and Services Tax (GST) collections for the month of November came in at over Rs 1.70 lakh crore. This is a rise of 0.7%, according to official data.SBI Research in a report in November had estimated that the gross domestic GST collections may come around Rs 1.49 lakh crore for November 25 (returns of October 25 but filed in Nov’25), a YoY growth of 6.8%.“Coupled with Rs 51,000 crore of IGST and cess on Import, the November GST collections thus could cross Rs 2.0 lakh crore, driven by the peak festive season demand led by lower GST rate and increased compliance while most of states experience positive gains,” SBI Research had said.This story is being updated
New Delhi: Several crucial deadlines have been extended in December 2025, including ITR for tax audit cases, ITR filing and PAN and Aadhaar linking. These deadlines will be crucial in ensuring that your financial affairs operate smoothly in the months ahead.
Here is a quick rundown of the important deadlines for December to help you stay compliant and avoid last-minute hassles.
ITR deadline for tax audit cases
The Central Board of Direct Taxes has extended the due date of furnishing of return of income under sub-Section (1) of Section 139 of the Act for the Assessment Year 2025-26 which is October 31, 2025 in the case of assessees referred in clause (a) of Explanation 2 to sub-Section (1) of Section 139 of the Act, to December 10, 2025.
Belated ITR filing deadline
A belated ITR filing happens when an ITR is submitted after the original due date which is permitted by Section 139(4) of the Income Tax Act. Filing a belated return helps you meet your tax obligations, but it involves penalties. You can only file a belated return for FY 2024–25 until December 31, 2025. However, there will be a late fee and interest charged.
PAN and Aadhaar linking deadline
The Income Tax Department has extended the deadline to link their PAN with Aadhaar card to December 31, 2025 for anyone who acquired their PAN using an Aadhaar enrolment ID before October 1, 2024. If you miss this deadline your PAN will become inoperative which will have an impact on your banking transactions, income tax return filing and other financial investments.
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