This Myeloma Awareness Week, blood cancer charity Myeloma UK is urging the business community to back the Know the Warning Signs campaign and get people diagnosed before it’s too late.

Join us for a reception at the Myeloma UK HQ on Tuesday 16 June (4pm to 5.30pm) to find out how you can help raise awareness of the symptoms of myeloma and make the warning signs impossible to ignore.

Myeloma is an incurable blood cancer which affects over 2,400 people in Scotland.

But despite being the third most common type of blood cancer, myeloma is often missed or mistaken for minor conditions or ageing.

That’s because the symptoms are vague and can be hard to explain.

Too many people in pain, with broken bones, infection or fatigue, only find out they have myeloma in A&E. And 1 in 4 people wait over ten months to get the right diagnosis.

Dr Sophie Castell, Chief Executive at blood cancer charity Myeloma UK, said: “Myeloma is often diagnosed late because symptoms are dismissed, or a warning sign is ignored. Catching myeloma early is vital and the business community has a huge part to play in spreading the word about this devastating disease. You can help us to shine a light on the symptoms, share the Myeloma UK Symptom Translator and together we will make the warning signs of myeloma impossible to ignore.”

The reception will take place at 22 Logie Mill, Beaverbank Business Park, Edinburgh EH7 4HG.

To attend or for more information, please contact Kelvin Mackay Kelvin.Mackay@myeloma.org.uk by Friday 12^th  June.

To find out more about the Know the Warning Signs campaign or grab a copy of Myeloma UK’s Symptom Translator go to: myeloma.org.uk/warning

WORKPLACE technology leader Agilico Zero has helped more than 200 schools reduce their environmental footprint over the past 12 months – while also teaching youngsters about the impact of plastic pollution.

A year on since launching its Schools for Change programme, the sustainable technology provider has welcomed 210 schools across the UK to join a growing community committed to greener practices.

The UK’s pioneering circular-first managed print services supplier is dedicated to promoting sustainability wherever possible – and believes it’s never too early to begin educating the next generation about the importance of plastic pollution.

It created Schools for Change, a nationwide initiative, to encourage education providers to reduce their environmental footprint by adopting sustainable print solutions and inspiring educational resources.

Agilico Zero’s refurbished print devices ensure resources are kept in use for as long as possible by offering reconditioned machinery which cuts carbon emissions by 97.5 per cent and avoids more than half a tonne of CO2 emissions.

And as part of Agilico’s commitment to raising awareness of sustainable practices, all nurseries and primary schools which sign up to Agilico Zero receive a copy of Jessie the Jellyfish, a beautifully illustrated children’s book written by Laurie Newman.

Aimed at youngsters aged three to seven, Jessie the Jellyfish tells the tale of a lonely jellyfish who befriends a plastic bag on an otherwise empty reef. The story aims to spread awareness about the impact plastic waste has on marine life and highlights how humans can help clean up the oceans. 

Schools which join the programme can also make their own Sustainability Pledge, receiving a personalised certificate along with guidance on how to reduce paper waste, energy use and reliance on single use plastics.

Today, to mark World Oceans Day and the first anniversary of Schools for Change, Head of Marketing Sam Saunders has revealed it’s been a successful first year for the initiative – urging more schools to get on board to help promote a sustainable future to pupils.

“The idea behind Schools for Change has always been to equip educational providers to make big environmental strides and in our first year, we’ve welcomed more than 200 new schools to the initiative. 

“Sustainability is central to everything Agilico does and it’s a message we want to promote far and wide. By involving schools, it gives us the chance to get the message across to those who can pass it on to the next generation, which can only have a positive impact.

“Schools for Change has been incredibly well received in its first year and we’ve had amazing feedback. Through the distribution of the Jessie the Jellyfish books, we are able to spread the message to young minds – the very ones who can make a difference and help protect the planet in the future.”

Schools and education providers keen to learn more about the Schools for Change initiative can find further information at: www.agilico.co.uk/schools-for-change/

An Edinburgh-headquartered fitness equipment specialist is expanding across the water into Fife with a major new base as demand for refurbished gym gear continues to grow.

Pinnacle Fitness has officially opened the doors to a new 32,000 sq ft headquarters and remanufacturing plant in Dalgety Bay, marking a significant milestone for one of Scotland’s leading specialists in the refurbishment of commercial gym equipment.

Backed by a £1.3 million Building Transition Loan from Bank of Scotland, the purpose-built development has given the business significantly more capacity to scale operations as customer demand continues to rise across the UK.

The hub has also been designed with sustainability at its core, featuring solar panels, air source heat pumps and electric vehicle charging points as Pinnacle works towards transitioning its fleet to electric vehicles.

Pinnacle Fitness has built a strong reputation for helping gyms and leisure operators reduce waste and extend the lifespan of premium commercial gym equipment that might otherwise be discarded. Its clients include Edinburgh Leisure, Glasgow Club, Live Active Leisure and Leisure and Culture Dundee, supporting operators to modernise facilities while reducing environmental impact.

Founded in 2014 by fitness-enthusiast-turned-entrepreneur William Kirkpatrick, the business has evolved into a nationwide operation supplying refurbished and new equipment to local authority leisure centres, independent gyms, hotels and high-profile private clients including Peter Andre, Martin Lewis and members of Keane.

The company has also experienced rising demand for Blitz Fitness, its own-brand range of strength equipment, racks, flooring and gym accessories, designed to offer commercial-grade quality at a more accessible price point than many global fitness brands.

William Kirkpatrick, founder and managing director of Pinnacle Fitness, said: “Opening this hub is a huge milestone for the business and something I could never have imagined when I first started out.

“After university I went into banking, but fitness had always been my passion and the original dream was to open my own gym. When that fell through following a rejected planning application, I suddenly found myself with a storage unit full of second-hand gym equipment and no clear plan.

“I started repairing machines and selling them online through eBay and Gumtree and the business just grew organically from there. What’s really exciting now is how attitudes have changed. More gyms and customers actively want sustainable options and recognise that refurbished commercial equipment can perform every bit as well as buying brand new.

“This new base gives us the platform to grow Blitz Fitness further, increase stockholding and explore new opportunities in commercial gym fit-outs, private training facilities and wider UK and European distribution.”

Andy McKie, relationship director at Bank of Scotland, added: “Pinnacle Fitness is a fantastic Scottish success story. William identified a gap in the market, built a business around sustainability and innovation and is now taking it to the next level with this impressive development.

“It’s great to support the team as they continue to grow and create new opportunities from their new base in Fife and, this year, we’re making more than £2.5 billion in new finance available to businesses across Scotland as part of Lloyds Banking Group’s wider £35 billion UK commitment.”

Bead BioPharma, a Scottish life sciences company backed by Archangels, today announced its emergence from stealth mode following the submission of its first patent, a milestone that marks the company’s formal entry into one of the most commercially active sectors in global oncology.

The company is focused on antibody-drug conjugates (ADCs), a class of cancer therapies sometimes described as ‘guided missiles’, which are designed to deliver toxic, cancer-killing agents directly to tumour cells while sparing healthy tissue. ADCs have become one of the highest priority areas of drug development, with multiple billion-dollar licensing deals and acquisitions completing in 2026 alone. Despite the pace of investment, a fundamental engineering problem persists: the chemical bond holding these therapies together is prone to breaking down before reaching the target, causing side effects and reducing effectiveness.

Bead BioPharma has developed a proprietary platform of technologies that aim to make ADCs more durable, reducing unintended toxicity and improve their performance in patients. While most approaches to this problem focus on targeting biology, Bead’s platform addresses it through chemistry, which the company believes represents a genuinely differentiated position in the market.

The company has demonstrated its platform in laboratory stability models using existing commercial ADCs, with a confirmed improvement in stability and reduced off-target toxicity in cell-based models. It has also independently validated the technology’s scalability at two independent laboratories, a key step toward commercial application. A second patent covering the use of the method in the development of novel ADC therapies is in progress.

The platform has applications both in new drug candidates and in existing ADC therapies already approved or in clinical trials, with potential to generate improved versions of existing products and extend their commercial life.

Interim CEO Dan Ozanne and chair Mike Sun, formerly of Seagen, one of the pioneering companies in the ADC field, will attend the 5th World ADC Summit in South Korea this month, where the team will present data from its programme for the first time.

Dan Ozanne, Interim CEO of Bead BioPharma, said: “We’ve been working hard under the radar to build the scientific foundation of our platform, protect our IP, and assemble a world-class team in the field of biologics and ADC discovery, development and manufacture. We’re at the point now where we have the data and the patent filings to start making ourselves known. Our proprietary platform tackles the stability challenge that the whole field is grappling with, and our approach through chemistry rather than biology gives us a genuinely different angle. We’re looking forward to presenting our results in South Korea and beginning to engage with potential partners.”

As part of the UK-wide #SeriouslySocial campaign this June, Edinburgh Leisure is showcasing how it puts people above profit every day, sharing real stories that show how community leisure transforms lives across Edinburgh.

Led by Community Leisure UK, the campaign runs from Monday 8 to Saturday 13 June and highlights the vital role charitable leisure trusts play in supporting healthier, more connected and inclusive communities across the UK.

Reflecting this shared purpose, Edinburgh Leisure will spotlight five key themes: health and wellbeing, the community, employment and skills, inclusion, and the environment. Each is brought to life through the experiences of the people and communities it supports.

Supporting a healthier, more resilient city

Edinburgh Leisure plays a key role in improving health and wellbeing across the city by reducing barriers to physical activity and creating inclusive opportunities for people of all ages and abilities.

As the largest provider of sport and leisure facilities in Edinburgh, it creates opportunities for people at every stage of life to be active, connect with others and build healthier habits within their communities.

Real stories behind the impact

The Seriously Social campaign shares a series of real-life stories that demonstrate this impact in action.

One example is Jennifer, a participant in Edinburgh Leisure’s community-based falls prevention programme, Balanced Life. After a broken back and serious illness left her relying on a walker, the programme helped her rebuild strength and confidence step by step, leading to a moment that she thought she might have lost: picking up her grandchildren from school.

At Gracemount Leisure Centre, Edinburgh Leisure’s swimming and multisport sessions for children with additional support needs have transformed weekends for Danny, Andor and their families. With consistent support and tailored activities, the sessions have built confidence and created space for both participation and respite.

These are just a few examples from across the week. The campaign brings together a wider range of stories, highlighting the many ways Edinburgh Leisure supports communities, from health and wellbeing, connection and confidence to careers and environmental action.

You can explore all stories and follow the campaign at https://www.edinburghleisure.co.uk/seriously-social/

Leading with purpose

Jen Holland, CEO of Edinburgh Leisure, said:

“What makes Edinburgh Leisure special is the impact we have on people’s everyday lives. These stories show that it’s not just about being active, it’s about rebuilding confidence, creating connections and opening up opportunities.

“Whether it’s someone regaining their independence, a young person taking their first steps into employment, or communities coming together to support each other, this is what putting people above profit really looks like using the power of sport and physical activity.

“Seriously Social is a great opportunity to highlight these moments and the impact Edinburgh Leisure makes across the city every single day.”

A sector driven by social purpose

Kirsty Cumming, CEO of Community Leisure UK, said:

“Our members serve everyone in their communities regardless of age or ability.

“They are places where arts can power mental wellbeing, physical activity can create social connections and where health programmes meet community need. Seriously Social is a campaign that focuses on our sector’s greatest USP, our social heart.

“As social enterprises and charities, they put people above profit. Reinvesting money for the betterment of society.

“And that is why we developed Seriously Social, to celebrate the difference they make.”

Emeritus Professor Joe Nellis is economic adviser at MHA, the accountancy and advisory firm.

Halifax House Price Index data shows that house prices fell by 0.1% in May and were only 0.5% higher than in May 2025, reflecting a housing market that remains subdued and is still struggling to build meaningful momentum. The market is flat, and it may remain this way across 2026.

The sharp rise in housing market activity that followed the pandemic has come to an end. Prospective buyers are operating in a far more difficult financial climate, shaped by higher borrowing costs, tougher lending criteria, and the continuing effects of the cost-of-living squeeze on household budgets.

These pressures are continuing to weigh on activity across much of the UK housing market. Demand for homes has not disappeared, but many households are becoming increasingly cautious about taking on large financial commitments in such an uncertain economic environment, instead opting to wait to see the direction the economy takes.

Affordability remains the defining issue. Borrowing costs are still much higher than most homeowners had become used to over the previous decade, and inflation is rearing its head again. For many first-time buyers, especially, the numbers no longer add up as easily as they once did. Mortgage repayments on a typical home remain well above levels from just a few years ago. This is the case even though house price growth itself has slowed sharply.

A glimmer of hope for first-time buyers is that the newly enacted Renters’ Rights Act will apply even further downwards pressure on the market. With landlords facing increased regulations and obligations, many may opt to sell their rental properties, increasing supply and driving down prices. Yet at the same time, this will lead to an increased shortage of rental properties, making it even more expensive for prospective renters.

The housing market has an impact on the wider economy. A weak property market tends to reduce confidence and slow consumer spending. The effects reach well beyond housebuilders and estate agents. They extend into retail, construction, household goods, and financial services. Housing activity is often a barometer of wider economic confidence – current conditions continue to show a cautious mood among households.

 

Among its UK locations, accountancy and business advisory firm MHA has offices in Aberdeen and Edinburgh.

 

Businesses came together at Racket Barn in Glasgow on 29 April for a fun morning of sport, networking and fundraising which was a smash hit.

A padel tournament in Glasgow has served up £850 for one of Scotland’s leading health charities.

Chest Heart & Stroke Scotland is thanking Zudu for organising its inaugural padel tournament at Racket Barn in Glasgow, bringing local organisations together to get active, make new connections and raise vital funds for the charity.

The April event raised £850 for CHSS and helped to spread awareness of the challenges facing the 1 in 5 people living with chest, heart and stroke conditions across Scotland.

Anne Magarin, Community, Events and Corporate Fundraiser for Chest Heart & Stroke Scotland said: “We’re incredibly grateful to Zudu for choosing Chest Heart & Stroke Scotland as the tournament’s charity partner, and to the team at Racket Barn for hosting and helping make the day run smoothly.

“Events like this are a brilliant example of a different way organisations can get involved with Chest Heart & Stroke Scotland to bring colleagues and contacts together for something energising and memorable, while raising money and awareness.

“Whether it’s a tournament, a social sports session, or a team challenge, there are lots of ways to support our work and show your community what your organisation stands for.

“The funds raised will help Chest Heart & Stroke Scotland support the 1 in 5 people across Scotland living with our conditions to live fuller lives through services, information and community-based supported self management.”

Chris Dean and David Taylor of the Evelyn Brothers in Edinburgh won the tournament.

If you’re feeling inspired you can find out more about fundraising for Chest Heart & Stroke Scotland.

If you’re living with the effects of a chest, heart or stroke condition or Long Covid and are looking for advice and information, please contact Chest Heart & Stroke Scotland’s Advice Line on 0808 801 0899. You can also text ADVICE to 66777 or email adviceline@chss.org.uk.  

Joe Sullivan, Partner at MHA, comments on today’s S&P construction PMI data:

 

“Today’s construction PMI were worse than feared and point to a sector that remains under significant pressure, as construction activity continues its downward trajectory. Activity is still firmly in contraction territory, and there doesn’t seem to be any light at the end of the tunnel for the industry.

 

“Across the market, the issue is less about capacity and more about confidence, with clients continuing to delay projects and push decisions further down the line which given the UK and global economic uncertainty is hardly surprising. Order books continue to dwindle and while some may exist on paper, many schemes are not progressing at the pace businesses need.

 

“Housebuilding remains one of the weakest parts of the sector, as affordability pressures, weaker buyer confidence and subdued demand continue to weigh on activity. Larger developers are likely to keep scaling back in response to market conditions, while smaller firms may face even tougher decisions as they balance reduced selling prices against the need to service debt.

 

“Commercial construction is also subdued, with many projects effectively on pause as uncertainty continues to affect investment decisions. By contrast, infrastructure work is holding up better, offering some resilience in an otherwise fragile market but activity still remains weak.

 

“Cost pressures have not returned to the extreme levels seen during the pandemic, but the demand is more limited and volatility in input costs still poses a real risk, particularly for firms operating on fixed-price contracts.

 

“At the same time, labour remains a concern. In an uncertain market, many businesses will be reluctant to replace workers as they leave, but that creates a longer-term challenge if activity picks up and skills are harder to find. Overall, the sector remains in a difficult position, and unless confidence improves materially, these pressures are likely to persist for some time yet.”

 

Among its UK-wide locations, accountancy and business advisory firm MHA has offices in Edinburgh and Aberdeen. For further information, visit www.mha.co.uk

The UK Government has announced significant changes to how UK‑resident companies are taxed on overseas operations carried out through foreign permanent establishments (PEs).

These reforms will fundamentally alter long-standing rules and may have important implications for groups with international activities.

From 1 January 2027, the UK will move to a mandatory exemption regime for foreign PE profits and losses. Under these new rules:

• Profits from foreign PEs will no longer be subject to UK Corporation Tax, and
• Losses from foreign PEs will no longer be available to offset UK profits.

For UK companies operating foreign PEs in the oil and gas sector, the changes will apply earlier, from 1 September 2026.

Current position

At present, UK companies operating abroad through PEs are generally subject to UK Corporation Tax on foreign PE profits, but can elect into an exemption regime.

This election removes both foreign profits and losses from the UK tax net going forward. The election is irrevocable, and transitional rules can require companies to bring certain profits into charge later.

Where no election is made, foreign losses can often be used to reduce UK taxable profits.

Key features of the new rules

• The optional election will be removed and all UK companies with foreign PEs will automatically fall within the exemption regime from 1 January 2027 (or earlier for oil and gas companies).
• Foreign PE losses will no longer be available to offset UK profits going forward.
• Existing foreign PE losses will not be available to relieve UK profits arising after the new rules take effect.

This represents a significant tightening of the rules compared to the current regime.

New provisions will also be introduced to prevent acceleration of loss utilisation, or planning designed to circumvent the impact of the new rules, and some existing provisions (such as rules relating to “total opening negative amounts”) will be repealed, streamlining the system.

The new rules are set out in the Government’s policy paper. This identifies what the Government considers to be imbalances in the current system, where UK groups may currently use foreign losses to shelter UK profits, but the corresponding foreign profits are often not fully taxed in the UK due, for example, to double tax relief.

Key considerations and next steps

Companies impacted by this change should consider:

• Reviewing group structures – some existing arrangements may no longer deliver expected tax outcomes.
• Forecasting effective tax rates – the inability to use foreign losses in the UK could increase overall tax costs.
• Timing of transactions and investments – businesses may wish to consider the timing of overseas expansion or restructuring before the rules take effect.
• Reviewing their transfer pricing position – HMRC is likely to place greater scrutiny on profit attribution between UK companies and their foreign branches, to ensure an arm’s length position. As a result, transfer pricing for overseas PEs may become a more prominent UK compliance risk, rather than being driven primarily by overseas tax authorities.

Oil and gas groups need to act particularly quickly given the earlier implementation date.

Draft legislation is expected to be published in summer 2026, with final rules to follow.

Companies may wish to seek advice on:

• Impact assessments and modelling
• Review of group structures and overseas operations
• Planning for the transitional rules

It’s becoming clear that businesses should consider reviewing the impact of these changes and seek advice sooner rather than later.

Richard Thomas is a Tax Director at MHA, one of the UK’s leading accountancy and business advisory firms. Among its UK locations, MHA has offices in Aberdeen and Edinburgh. For further information, visit www.mha.co.uk