The Week That Was - 5 December 2025

Welcome to The Week That Was, a round-up of key events in the construction sector over the last seven days.

Insurance Covered: A look at Fine Art & Specie insurance (with Joshila Sharma)

In this podcast episode, Peter Mansfield interviews Joshila Sharma, a specialist in Fine Art and Specie insurance. They explore the broad definitions of fine art and specie, the unique items covered under these insurance policies, and the intersection with cargo insurance. Joshila shares her experiences in the industry, including the most expensive items she has insured, and the challenges posed by natural disasters. She also discusses her motivation for starting Amalthea Underwriting and her passion for marine conservation.

Listen to the full episode here.

Autumn Budget 2025

The UK Autumn Budget 2025 has landed. In this article Ben Roberts and Julia Szerer outline the government’s main tax announcements for businesses, investors and individuals. It highlights changes to business rates, capital allowances, investment schemes, personal tax thresholds, dividend and savings tax rates, and new property-related taxes. Of particular interest to those in the construction sector is the Construction Industry Scheme. From 6 April 2026, in a strengthening of HMRC's powers, businesses may lose their CIS gross payment status, be hit by a 30% penalty, and be assessed for any tax loss if involved with fraudulent evasion of tax.

Read the full article here.

Potential site identified for relocation of historic meat and fish markets

'Albert Island' has been identified for the relocation of the historic meat and fish markets (the Markets) in London, and which are current sited in Smithfield and Billingsgate. The new site, which has been announced by The City of London Corporation (and which currently operates the Markets) would, if viable, mean that the Markets could trade alongside each other.

To proceed, planning permission for Albert Island would need to be applied for and granted. The Markets also need to obtain Parliament's permission to cease trading at their current sites. However, the move has been welcomed by traders as a positive step in securing the future of the Markets.

Read the full article here.

"Mansion Tax" - comments by Chartered Institute of Taxation

Leigh Sayliss, the chair of the CIT's Property Taxes committee has released comments that the proposed "mansion tax" for properties worth over £2 million announced in the recent budget "adds further complication to the current system of property taxation". Citing the 9 main taxes which require consideration for property owners (council tax, SDLT (England)/land transaction tax (Wales)/building transaction tax (Scotland), annual tax on enveloped dwellings (above £500,000), income tax, corporation tax, capital gains tax, inheritance tax, VAT and national insurance), she highlights the risk of a tax on the value of the property risks disproportionately affecting those who are "asset-rich, cash-poor" such as pensioners or those who otherwise have limited equity in the property.

The government plans to consult on the charge in early 2026 and implementation is planned for April 2028.

Read CIT's comments here.

Application to strike out fails for Grays Thurrock Properties Ltd in defending anaerobic digestion plant claim

Confirming that a Reply to a Defence is for "yes, but" style arguments, but not raising new causes of action which ought to be in the Particulars of Claim per Martlet Homes Ltd v Mulalley & Co Ltd [2021] EWHC 296, Jonathan Acton Davis KC sitting as a deputy judge of the High Court rejected GTP's attempt to strike out BioConstruct Limited's claim against them for unpaid sums of just under £920,000 arising from Milestones 14, RR1 and RR2 of their mutual contract.

The Judge further commented that, given BioConstruct's claim relied upon cited authority, "it is impossible to say it has no prospects of success" to justify strike out under CPR24.3. As no defect in the pleading could be identified, or was raised in the application, there appeared to be no difficulty in the court discerning the nature of the claim to establish striking out under CPR 3.4(2)(a).  

Read the full judgment here.

UK's largest independent timber supplier enters administration

National Timber Group, the UK’s largest independent timber supplier, has entered administration following a challenging trading period and liquidity issues. The group, which operates 47 sites across England and Scotland and employs 1,150 people, appointed Michael Magnay, Gemma Quinn and Jonathan Marston of Alvarez & Marsal as joint administrators on 26 November. The business, formed through acquisitions of brands such as Thornbridge and Arnold Laver, suffered a pre-tax loss of £6.3 million in 2023, with directors citing macroeconomic uncertainty, high interest rates, and reduced demand as key factors. Immediate consequences include 561 redundancies. The administrators have launched a sale process and remain hopeful of finding a buyer for all parts of the group. The remaining sites continue to operate, and support is being provided to affected employees during this difficult period for the sector.

Read the full article here.

With thanks to: Emrys Moore, Jessica Hill and Hannah McDonagh