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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 3rd February 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…
The Chancellor of the Exchequer, Rachel Reeves, delivered a speech last week that served as an update on the government’s plans for delivering economic growth.
The plan largely focused on developments proposed around Oxford and Cambridge as well as a third runway at Heathrow.
In this article DPC look at some of the highlights from the speech.
Severe weather can be an enormous challenge for businesses, and we have seen plenty of it recently. Power outages, property damage, and forced downtime are not just disruptions—they can feel like setbacks that threaten months or years of hard work. If your business has been affected by recent storms, you are not alone, and it’s important to remember that resilience is built in moments like these.
While you may already be taking steps to recover and regroup, this article is here to offer encouragement, practical ideas, and a reminder of your strength as you navigate this difficult time.
The annual self-assessment tax return deadline has just passed, and for many business owners, the experience may have been a mad scramble to gather documents, double-check figures, and submit their returns and pay the tax on time.
If that was your situation, you were in good company! HM Revenue and Customs said that 3.4 million taxpayers, almost a third, hadn’t submitted their tax return yet going into the final week before the deadline.
The stress of last-minute filing may have made you determined to get it all done earlier this year. The good news is that with proactive planning, next year’s tax return can be a much smoother process.
DPC take a look at some practical steps you can take now to avoid a last-minute rush and enjoy a more relaxed 2025.
A recent investigation by the Competition and Markets Authority’s (CMA) independent inquiry group has revealed that competition in the UK cloud services market is not functioning as effectively as it could.
Cloud services form the backbone of modern business operations, supporting industries ranging from financial services and retail to digital start-ups and public services. In 2023, UK businesses and organisations spent £9 billion on cloud services, with this figure growing over 30% annually. However, the inquiry group identified several concerns…
The new economic secretary to the Treasury, Emma Reynolds, has said that there are no plans to regulate businesses, whether big or small, to compel them to accept cash.
Concern has been raised about various shops and service firms not accepting cash and therefore excluding those who rely on cash to pay for things. While some countries appear to be planning to put rules in place that require essential services to accept cash, the UK does not seem as though it will be following suit.
The 28 January 2025 was Data Protection Day and the Information Commissioner’s Office (ICO) used it to highlight the opportunities and challenges related to AI and data protection.
AI adoption is integral to the government’s growth plans, however the ICO are keen to make sure that the opportunities AI brings are taken up in a way that keeps people safe.
The ICO have highlighted some misconceptions about AI, and this contains some good pointers for businesses and organisations considering using AI.
As part of the government’s efforts to drive economic growth, the Trade Secretary has appointed a new ‘global growth team’ of UK Trade Envoys with the goal of driving UK exports and investment.
32 MPs have been assigned target markets across the globe and have been tasked with identifying trade and investment opportunities for businesses as well as championing the UK as the place to invest for investors in those markets. The markets chosen are all considered to have significant potential for growing UK trade.
The Prime Minister and Chancellor met with business leaders last week and unveiled proposals to give occupational defined pension schemes more flexibility.
Restrictions will be lifted on how well-funded, occupational defined benefit pension funds that are performing well will be able to invest their surplus funds. It is hoped that this will pave the way for future growth across the economy.
Currently, around 75% of such pension schemes are in surplus amounting to £160 billion. However, restrictions have meant that businesses have found it difficult to invest these funds, even when both trustees and sponsors want to do so.
New legislation for England and Northern Ireland has come into force that will allow for a deposit return scheme for drinks containers in England and Northern Ireland. Scotland is also progressing similar regulations.
A deposit return scheme, which more than 50 countries worldwide are now using, gives people a financial incentive for returning empty bottles and cans to a collection point, such as at a supermarket. According to government supplied statistics, the average return rate in Europe is 90% with Germany leading the way at 98%.
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