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Business News England
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Welcome to the DPC round up of the latest business news for our clients for 17th March 2025
Please contact us if you want to talk with out team of experienced Stoke-on-Trent accountants about how these updates affect your business. We are here to support you!
THIS WEEK…
Last week, the tax minister responsible for HM Revenue and Customs (HMRC), James Murray, delivered a speech marking the 20th anniversary of HMRC. Previously, the UK’s tax authority was known as Inland Revenue.
During the speech he highlighted some simplifications that are planned. Of particular interest was the announcement of plans to increase the Income Tax Self Assessment (ITSA) reporting threshold for gross income from £1,000 to £3,000.
This threshold would apply to anyone with a self-employed trading income, however it can be particularly useful to those with a side hustle. A side hustle is an income-generating activity that is pursued alongside a full-time job or main source of income.
Success in business is never guaranteed, even for brands that dominate their industry for decades. A recent episode of the BBC Radio 4 show, Toast, explored five once-thriving companies: Little Chef, Vine, Mothercare, Green Shield Stamps and Safeway.
Each of these businesses were very successful for a period of time, but for one reason or another ultimately failed. Their downfall may have been caused by a number of contributing reasons.
The Planning and Infrastructure Bill was introduced to Parliament last week. The legislation is being heralded as bringing transformative reforms to the UK building sector that will boost homebuilding and remove obstacles to needed infrastructure.
Unsurprisingly the legislation was greeted by positive comments from government and large homebuilder representatives.
This article provides an outline of some of the measures introduced by the legislation.
HM Revenue and Customs (HMRC) have plans to use a callers voice as their password in an effort to speed up phone calls.
In systems that are being used by banks, a customer’s voice recording is turned into encrypted biometric data, which is then used when they call to clear security checks. HMRC are planning to trial a system like this.
HMRC has come under heavy fire for the poor handling of its customer service phone lines. According to statistics, for January through November last year, the phone line went dead on almost 44,000 callers who had been waiting 70 minutes.
New technology continues to progress at a fast rate. It can be difficult to keep up or see the opportunities for your business.
Some new bite-sized introductions have been published by the Government Office for Science that may help.
The introductions briefly set out the latest evidence and some expert insight on recent developments in the technology. They also show some potential applications and opportunities for the technology.
The Health and Safety Executive are reminding employers about their responsibilities to protect workers from the health risks that come from working with display screen equipment (DSE), including PCs, laptops, tablets and smartphones.
The Health and Safety (Display Screen Equipment) Regulations apply to any worker that uses DSE on a daily basis for continuous periods of an hour or more.
For these workers, the Regulations mean that employers need to do a DSE workstation assessment and reduce risks such as by making sure breaks are taken.
Following a confirmed case of foot and mouth disease at a cattle farm in Hungary’s north-west, new import bans have been announced.
The commercial import from Hungary and Slovakia of cattle, pigs, sheep, goats and other non-domestic ruminants and porcines such as deer and their untreated products, such as fresh meat and dairy, are now banned.
Since 8 March, travellers are also no longer able to bring meat, meat products, milk and dairy products, certain composite products and animal by products of pigs and ruminants, or hay or straw from Hungary or Slovakia.
In their latest blog, ACAS (Advisory, Conciliation and Arbitration Service) revealed some insights from their latest helpline and early conciliation data.
They report that the demand for their services continues to trend up. Their helpline service handled around 158,500 calls in the final quarter of 2024, which is an increase of 11% on the previous quarter.
Web traffic has also increased significantly: up by nearly 20% on the previous year.
The Music Export Growth Scheme (MEGS) will be using their latest round of funding totalling £1.6 million to help support 58 UK artists to tour the world.
The funding will help small and medium sized music companies with their marketing and promotion campaigns for their artists touring abroad. The aim is to attract new fans, overseas touring opportunities and revenue.
MEGS has been operating since 2014 and has given out around £7.9 million in grants to support UK musical acts in touring abroad and finding an international audience. Some acts, such as Ezra Collective and Fat Dog have benefited from Brit Awards recognition.
The government has announced plans to lay legislation that will end the Payment Systems Regulator (PSR).
The PSR currently looks after payment systems such as Faster Payments and Mastercard. However, its role will be consolidated into the Financial Conduct Authority.
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