NEWS

LATEST NEWS

March 10, 2025

Spring Statement news: Public spending cuts likely

News reported last week said that the Chancellor has put together draft plans for spending cuts to welfare and other government departments.

March 6, 2025

Chancellor encourages investment in emerging markets

The Chancellor Rachel Reeves met recently with major financial firms at Canary Wharf, encouraging them to invest in emerging markets to boost Britain’s economy.

March 5, 2025

Pressure on chancellor despite government surplus

The latest figures show that the government had a surplus of £15.4 billion in January. This represents the difference between the tax it receives and what it spends.

March 4, 2025

Investment in sustainable packaging firm

Pulpex, a sustainable packaging company, has received £43.5 million from the National Wealth Fund in exchange for an equity share of the business. The Scottish National Investment Bank is also investing £10 million with a further £8.5 million coming from existing investors.

February 27, 2025

40% business rates relief for film studios

Beginning last week (17 February), Local Authorities were able to begin awarding a 40% reduction in business rates bills to film studios. The tax relief is aimed at boosting the film industry in the UK and contributing towards more box office hits being made.

February 26, 2025

Wages growing faster than inflation

Latest figures released by the Office for National Statistics (ONS) show that average wages are continuing to grow faster than inflation. After adjusting for consumer price inflation (CPI), wages rose 3.4% between October and December 2024 when compared with the same period in 2023.

February 25, 2025

Surprise jump in inflation: How to navigate your business

Inflation figures for January 2025 were released last week and showed a surprising jump to 3.0%, up from 2.5% in December.

February 20, 2025

Crackdown on illegal working in the UK: Key highlights & takeaways

The UK government has intensified its crackdown on illegal working, with January 2025 seeing record enforcement activity. Home Secretary Yvette Cooper announced these efforts as the Border Security, Asylum, and Immigration Bill returned to Parliament last week.

February 19, 2025

HMRC late payment interest rates to be cut

Following the reduction in the Bank of England base rate, HM Revenue & Customs (HMRC) have confirmed that their interest rates will be reduced accordingly.

February 19, 2025

Reforms to homebuying coming

The government announced major plans last week to modernise the house buying and selling process. The reforms centre on digitalising and making property and identity data available electronically. This will allow mortgage companies and surveyors to have information within easy reach.

February 10, 2025

Base rate cut to 4.5%

The Bank of England reduced their base rate to 4.5% last week, as had been widely expected in the days leading up to the decision.

February 6, 2025

Reforms to pensions proposed in order to drive growth

The Prime Minister and Chancellor met with business leaders last week and unveiled proposals to give occupational defined pension schemes more flexibility.

February 5, 2025

Is cash still king?

The new economic secretary to the Treasury, Emma Reynolds, has said that there are no plans to regulate businesses, whether big or small, to compel them to accept cash.

February 3, 2025

Chancellor’s speech: An update on economic growth measures

The Chancellor of the Exchequer, Rachel Reeves, delivered a speech last week that served as an update on the government’s plans for delivering economic growth.

January 31, 2025

Why you should prioritise tax planning before the tax year ends

As the UK tax year-end approaches on 5 April, it’s an excellent time for you to review your business finances and explore tax planning opportunities, particularly if you are self-employed. Tax planning can help you to reduce tax liabilities, boost your cash flow and put you in a stronger financial position.

January 29, 2025

HMRC’s phone service criticised … again

A report released by the Public Accounts Committee (PAC) has further criticised HM Revenue & Custom’s (HMRC) phone service. It found that nearly 44,000 customers were cut off without warning after being put on hold for more than an hour in the first 11 months of last year.

January 27, 2025

What do rising government borrowing costs mean for your business?

Recent economic developments have sparked concerns among UK businesses. Government borrowing costs surged in December to their highest levels in four years, and this has drawn heavy criticism of the Chancellor’s fiscal strategy.

January 23, 2025

Renters’ Rights Bill continues to progress

The Renters’ Rights Bill returned to Parliament for debate last week and included some new changes.

January 22, 2025

Government pushes AI adoption as part of growth strategy

The government launched an AI opportunities action plan last Monday that aims to ramp up AI adoption across the UK.

January 20, 2025

Inflation falls to 2.5%: What this means for your business

The latest figures reveal that UK inflation fell slightly in December, down to 2.5% from 2.6% in November.

January 16, 2025

Balancing AI's promise and pitfalls

Artificial intelligence (AI) continues to bring benefits across many industries, including healthcare diagnostics and consumer technology. However, as its applications expand, so do concerns about its accuracy and potential for misuse. Two recent examples—the use of AI in detecting ovarian cancer and its controversial implementation in summarising news—illustrate both the transformative potential and the risks of AI.

January 15, 2025

New digital markets competition regime now in force

Last week, the Competition and Markets Authority (CMA) set out its initial plans for the new digital markets competition regime. The regime is designed to support the UK’s tech sector and has its legal footing in the Digital Markets, Competition and Consumers Act. The Act received royal assent in May 2024 but came into force on 1 January 2025.

January 13, 2025

Tax return filing deadline looms

With the 31 January Self-Assessment tax return filing deadline fast approaching, HM Revenue and Customs issued a press release last week noting that 5.4 million taxpayers are yet to complete their return.

January 10, 2025

The importance of right to work checks continues to be emphasised

Recent immigration enforcement activity has highlighted the need for employers to ensure their workers have the right to work in the UK. With thousands of enforcement visits, arrests, and hefty fines being issued, businesses that neglect their responsibilities risk serious consequences.

January 8, 2025

New year resolution: A fitter workforce?

The benefits of exercise on our physical and mental health are well known. The healthier and fitter we are the better we work on our business. A healthier, fitter workforce are also much more likely to be productive and happier. Yet, many of us struggle to find the time or energy to do enough exercise.

January 6, 2025

A fresh start: Reviewing your business goals for the New Year

The start of January marks a time of new beginnings, and for business owners, it’s the perfect opportunity to pause, reflect, and plan ahead. After the whirlwind of the festive season, January offers a quieter moment to consider where your business is headed, how it’s performing, and whether you’re still on track to meet your goals.

January 2, 2025

Latest statistics show economy shrinking while wages grow

The Office for National Statistics’ (ONS) latest official figures for October show that the economy shrank for the second month in a row, while pay growth increased for the first time in more than a year.

December 23, 2024

Spring Forecast scheduled for 26 March 2025

Rachel Reeves, the Chancellor of the Exchequer, has confirmed 26 March 2025 as the date for the Spring Forecast.

December 19, 2024

Chancellor promotes reset of UK-EU trade relations

Chancellor Rachel Reeves spoke last week at a meeting of EU finance ministers as part of the government’s attempt to perform an economic reset with the EU. It was the first time a UK chancellor has attended such an event since the UK left the EU.

December 18, 2024

HMRC introduces new interactive tool for self-employed people

HM Revenue and Customs (HMRC) have announced the launch of a new interactive online tool and clearer guidance for those who are already self-employed and those considering it.

December 16, 2024

Spread the cost of your Self Assessment tax bill with HMRC's Time to Pay

With the holidays and end of the year fast approaching, it’s a good time to plan your finances for the new year. For those who file Self Assessment tax returns, the prospect of having to make a heavy tax payment at the end of January 2025 may be causing you concern.

December 12, 2024

Better finance access for disabled entrepreneurs

In the runup to Small Business Saturday last week, a new Disability Finance Code was launched.

December 11, 2024

New reporting requirements for online platforms

New changes come into effect from January 2025 where online platforms, such as eBay and Airbnb, will start sharing some user sales and personal data with HM Revenue and Customs (HMRC).

December 9, 2024

New Fair Payments Code launched

The government’s promised new Fair Payments Code was launched last week to try and tackle late payment problems that can be particularly harmful to small businesses.

December 5, 2024

Get Britain Working White Paper: Reforms to employment support announced

The government has unveiled some significant reforms to employment support, underpinned by a £240 million investment. The measures aim to address deep-rooted issues of unemployment, economic inactivity, and barriers to work, as detailed in the newly published Get Britain Working White Paper.

December 2, 2024

Be wary of Self Assessment scams

HM Revenue and Customs (HMRC) have issued a reminder to be careful about scam attempts that target people filing Self Assessment tax returns. In the last year, nearly 150,000 scam attempts were referred to HMRC, a 16.7% increase on last year. With the 31 January 2025 filing deadline approaching, fraudsters are likely to step up their activities.

November 28, 2024

Stay safe during Black Friday season

The National Cyber Security Centre (NCSC) has reported that shoppers lost over £11.5 million to online criminals between November 2023 and January 2024.

November 26, 2024

New UKEF guarantee boosts opportunities for UK engineering, design and technical services firms

UK Export Finance (UKEF), the UK’s export credit agency, has launched a new initiative aimed at helping British engineering, design, and technical services firms secure international contracts.

April 13, 2023

Extending the “Income tax cash basis” for the self-employed

This HM Revenue & Customs (HMRC) consultation seeks views and feedback on proposals to increase eligibility and use of the income tax cash basis for the self-employed

April 12, 2023

Managing your cash flow

With increasing supplier prices and economic uncertainty, managing your business’s cash and understanding the flow are now vital tools

April 5, 2023

Sea-change in UK boardrooms as women make up nearly 40% of FTSE 100 top table roles

The UK has climbed to second in the international rankings for women’s representation on boards at FTSE 100 level.