Starting from 31 January 2025, entry summary declarations will now be required for goods imported into Great Britain (GB) from the EU. This extends the already existing requirements to submit entry summary declarations for imports into GB from countries outside the EU and exit summary declarations for exports to the EU.

A report released by the Public Accounts Committee (PAC) has further criticised HM Revenue & Custom’s (HMRC) phone service. It found that nearly 44,000 customers were cut off without warning after being put on hold for more than an hour in the first 11 months of last year. Having criticised HMRC’s phone service last year, the committee said the service was worse again since it’s last report. It said HMRC had “damaged trust in the tax system” as a result.

A new scheme administrator tasked with helping businesses reduce packaging usage was unveiled last week. PackUK (called PecynUK in Wales) will also promote more sustainable packaging alternatives. As part of the UK’s four nation Extended Producer Responsibility for Packaging (pEPR) scheme, PackUK is being used to apply the ‘polluter pays’ principle. It will shift the cost of managing household packaging waste from taxpayers and local authorities to businesses that use and supply the packaging.

HM Treasury has confirmed that the Chancellor will be hosting a series of Industry Forums in January and February with the aim of seeking views about the best way to deliver long-term growth in the sector and across the country. Financial services have been identified as a key growth-driving sector in the government’s Modern Industrial Strategy.

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.

Last week, the Competition and Markets Authority (CMA) set out its initial plans for the new digital markets competition regime. The regime is designed to support the UK’s tech sector and has its legal footing in the Digital Markets, Competition and Consumers Act. The Act received royal assent in May 2024 but came into force on 1 January 2025.

Artificial intelligence (AI) continues to bring benefits across many industries, including healthcare diagnostics and consumer technology. However, as its applications expand, so do concerns about its accuracy and potential for misuse. Two recent examples—the use of AI in detecting ovarian cancer and its controversial implementation in summarising news—illustrate both the transformative potential and the risks of AI.