Additional import controls have been introduced to protect UK sheep and goats against ‘peste des petits ruminants (PPR)’. As from 18 December 2024, commercially produced and packaged sheep and goat milk and milk products are not permitted from Bulgaria. This is because of an outbreak of PPR in Bulgaria last month.
Domestic trade marks can now be partially replaced by international registrations. Even where only some of the goods and services are listed in the domestic registration, this will still be possible. Previously, the regulations only allowed replacement when the international registration covered all the goods and services listed in the domestic registration.
Last week, the UK joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in a move designed to grow the UK economy. Estimates suggest that it could add £2 billion to the economy in the long run. The CPTPP is a trade bloc that includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. The UK joining brings the combined GDP of the bloc to £12 trillion.
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. Did you know that HM Revenue & Customs (HMRC) provides an option to spread the cost of your tax bill with their Time to Pay system?
The UK Government has announced new measures to ensure online marketplaces and vape producers contribute fairly to the costs of recycling electrical waste. Circular Economy Minister Mary Creagh revealed the plans last week, marking a significant step towards creating a circular economy and supporting UK retailers.
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. The new tool explains what records a self-employed person may need to keep, taxes that may apply to their business, and includes other useful information, such as how to pay a tax bill.
Those of us that rely on a coffee-fix to get the day started may see this get more expensive. Coffee prices on international commodity markets soared to their highest level on record last week. The price for Arabica beans, the most used beans in global production, increased to $3.44 a pound, increasing by more than 80% this year. Robusta beans similarly reached a fresh high in September.
British pork producers are celebrating a major breakthrough as China’s Covid-era restrictions on UK unprocessed pork exports were ended. Industry estimates suggest this development could boost revenues by around £80 million, offering significant benefits to UK farmers and the economy.
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. The Chancellor spoke about tackling shared challenges including the war in Ukraine, championing free trade as a driver of economic competitiveness, and strengthening bilateral economic partnerships.
A new Business Growth Service has been launched that is designed to help businesses across the UK to get quicker and easier help, support and advice. The new service has been initiated in response to small businesses finding the business support landscape fragmented and complex. Only 26% of UK SME employers reported that they sought external advice or information in 2023.
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