Cash Flow Crisis: How New Reforms Are Tackling UK Late Payments
Late payment remains arguably the single biggest threat to the survival and growth of UK Small and Medium-sized Enterprises (SMEs). For a small business, a 90-day wait for a large invoice can be the difference between meeting payroll and insolvency. Cash flow is the lifeblood of any successful company, and when the circulatory system is […]
ONS Business Population Update — More VAT / PAYE Firms
Why New Business Owners Need Expert Help Now Great news for the UK business landscape: more people are turning their ideas into formal businesses! The latest data from the Office for National Statistics (ONS) confirms that the number of VAT and/or PAYE-registered businesses has risen to 2.73 million as of March 2025, continuing a modest […]
VAT in the Digital Age (ViDA): What the EU Plan Means for UK Cross-Border Traders and Platforms
On 24 September 2025, the European Commission moved its VAT in the Digital Age (ViDA) initiative into full implementation, confirming timelines and structures for one of the EU’s most significant tax modernisation drives in decades. While the UK is no longer part of the EU VAT regime, thousands of UK businesses trade with EU consumers […]
The New “Failure to Prevent Fraud” Offence Is Live – What Businesses Must Do Now
From 1 September 2025, the UK’s new corporate criminal offence of Failure to Prevent Fraud (FTPF) under the Economic Crime and Corporate Transparency Act (ECCTA) came into force. This landmark change means businesses can face prosecution—and potentially unlimited fines—if they fail to put in place adequate procedures to stop fraud committed by employees or associated […]
Business Banking: Trends for SMEs
Who are the top-rated banks in 2025? The latest Business Banking Service Quality survey organised by the Competition and Markets Authority shows a shift in the way UK businesses are choosing their banking partners. Challenger banks are steadily gaining popularity, while it seems that some traditional high street banks are losing ground. Who came […]
Work Starts on Setting Minimum Wage Hourly Rates for 2026
Prepare for potential increases The Government has published the official remit for the Low Pay Commission (LPC) to begin its work on setting the National Minimum Wage (NMW) and National Living Wage (NLW) rates that will apply from April 2026. While the final figures won’t be confirmed until later in 2025, the direction of […]
Tax & Treasury: Decoding the Autumn Budget and IHT Reforms
Heads up, business owners and landowners. The government is getting ready for the Autumn Budget, and with a huge fiscal gap of £51 billion to fill, all eyes are on potential tax changes. But while we wait, some major tax reforms that are definitely coming into play need your immediate attention, especially when it comes […]
Making Tax Digital for Income Tax – Are You Ready?
2.9 million individuals will be affected The government is pressing ahead with Making Tax Digital (MTD) for Income Tax – and it will affect many sole traders and landlords over the next few years. Here’s what’s changing, when it’s changing, and how to get ready. What is MTD for Income Tax? Under MTD, […]
HMRC late-payment interest is falling after August base-rate cut — what businesses need to do now
HMRC has confirmed that statutory interest rates for late payment and repayment are reducing in August following the Bank of England’s base-rate cut. The change bites on 18 August 2025 for quarterly instalment payments and 27 August 2025 for non-quarterly payments. If your business has time-to-pay arrangements, upcoming liabilities or historic arrears, this directly affects […]
Government Unveils Small Business Plan
Will it help your business? The government launched its Small Business Plan in August which it believes will help small businesses grow and encourage entrepreneurs to start businesses. The plan recognises that small businesses make a vital contribution to the economy, employing 60% of the UK’s workforce and generating £2.8 trillion in turnover. […]