A new agreement between the UK and Switzerland was announced last week that means UK-qualified business people will now find it easier to work in Switzerland and vice versa. The agreement applies to a wide range of professions including lawyers, auditors, driving instructors, cabin crew and anaesthesia associates.
The latest figures reveal that UK inflation fell slightly in December, down to 2.5% from 2.6% in November. While the drop is marginal, however it has sparked discussion in the press as to whether this easing of inflation might prompt the Bank of England to consider cutting interest rates when it meets next month. However, there is also talk of many businesses raising prices over coming months due to payroll cost increases set for April.
The government launched an AI opportunities action plan last Monday that aims to ramp up AI adoption across the UK. The Secretary of State for Science, Innovation and Technology, Peter Kyle, believes that the plan shows how the application of AI can be shaped within a modern social market economy.
Following confirmation of a case of Foot and Mouth Disease (FMD) in Germany, a ban has been put on the import of cattle, pigs and sheep from there. It is hoped that this action will help to protect UK farmers and their livelihood. While FMD poses no risk to human or food safety, it is highly contagious to cattle, sheep, pigs and other cloven-hoofed animals.
The Renters’ Rights Bill returned to Parliament for debate last week and included some new changes. A new rule is proposed that will cap advance rent payments at one month’s rent. Currently, there is no limit on the upfront rent a landlord can ask for. This is being used to exploit potential tenants in some places and particularly disadvantages renters on lower incomes.
The new digital markets competition regime came into force on 1 January 2025 and the Competition and Markets Authority (CMA) has now launched its first investigation on Google under its new powers. Under the new digital markets competition regime, the CMA can designate certain businesses as having strategic market status (SMS) in relation to a particular digital activity.
The UK Government has announced a £7 million funding initiative aimed at helping small businesses enhance their productivity and efficiency through artificial intelligence (AI).
This funding, distributed across 120 projects, is part of the Innovate UK BridgeAI programme under the UK Research and Innovation (UKRI) Technology Missions Fund.
Small businesses across the UK are invited to enter the Department for Business and Trade’s (DBT) Made in the UK, Sold to the World Awards, which celebrate exceptional achievements in international trade. The awards are open for entries until 9 March and provide a platform for SMEs to showcase their success in exporting British goods and services across the globe.
Businesses are facing rising wage costs in 2025. As a result, many businesses are looking at whether price increases could help them manage the financial impact without losing customers. High Street retailer Next recently announced a price increase of 1% on some clothing items to help offset an anticipated £73 million rise in staff wages and taxes. Their strategy and decisions provide some useful lessons.
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. Apparently more than 24,800 people filed their return on New Year’s Day, while a further 38,000 had filed theirs on 31 December. 310 filed their returns between 11pm and midnight.
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