Category: Business News

Self-driving vehicles are set to be on British roads by 2026 following the enactment of the Automated Vehicles (AV) Act. Automated vehicles are expected to improve road safety by reducing human error, which is estimated to be responsible for 88% of road collisions.

Ten UK teams have been named finalists for the inaugural Manchester Prize, which was announced last week by the Prime Minister at the AI Seoul Summit. Each team will receive part of a £1 million fund to develop AI solutions over the next eight months, focusing on energy, environment, and infrastructure. Their projects include AI for solar energy integration, climate-resilient crop traits, waste flow analytics, and advanced battery manufacturing.

Are you wanting to start your journey into craft, or do you want to turn your hobby into a career? If so, you may be able to apply for a training bursary from Heritage Crafts.
In total, 27 bursaries are available depending on individual need with some ringfenced for black and ethnically diverse trainees, veterans, trainees in Scotland and Wales, and those working in decorative, rural and endangered crafts.

Updated guidance has been issued by the Equality and Human Rights Commission to help employers. The guidance provides advice on what employers can do to prevent pregnancy and maternity discrimination at work. The updates are due to the new flexible working laws that came into effect in April 2024, and they outline the changes that employers will have to make because of these laws.

Data releases in recent weeks from the Office of National Statistics (ONS) coupled with Bank of England decisions might make recent news about the economy seem a bit confusing. Understanding how this news affects businesses is important so let’s break it down.

HM Revenue & Customs (HMRC) have released figures showing that 295,250 Self Assessment tax returns were filed in the first week of the new tax year. Almost 70,000 were filed on the first day – April 6th. This seems to suggest an increasing trend for filing tax returns early. Last year, 246,210 returns were filed in the opening week.

While commenting on the GDP growth and what it indicates about the economy, the Prime Minister again drew attention to National Insurance. The article released by the Prime Minister’s Office noted that the progress in the economy has allowed them to bring down taxes, particularly the recent cuts in National Insurance.

The National Cyber Security Centre has joined forces with three major UK insurance associations to release new guidance designed to help reduce ransom payments made by victims of cyber crime. The guidance sets out best practice and gives recommendations that can help businesses and other organisations make informed decisions when they are faced with ransomware.

Submitting export declarations through the Customs Declaration Service (CDS) becomes mandatory for all businesses on 4 June. CDS will replace the Customs Handling Import and Export Freight (CHIEF) on that date. Businesses that use a customs agent to submit their export declarations should check that their agent is ready for the change.

HM Treasury have published a press release pointing out that over £2 billion has been invested by leading tech firms in the UK in the space of just one week. Coreweave, the AI (artificial intelligence) firm, are investing £1 billion in the UK and have confirmed that their new European headquarters will be based in London.