In a speech ahead of the Autumn Budget on 28 October, Chancellor John Healey pledged to make Great Britain ‘growth Britain again’ by strengthening the UK’s economic growth trajectory. Mr Healey said that he understands that small businesses in the UK are facing significant cost pressures, from rising energy bills to higher labour costs. He
Research carried out by insurer Simply Business has revealed that 47% of UK small business owners are using artificial intelligence (AI) tools. The latest figure represents a significant increase compared to 2025, when just 22% of firms stated they actively used AI. An additional 13% plan to start using AI in the next six to
The government recently launched an overhaul of corporate reporting that it hopes will save UK businesses more than £450 million per year. As part of the changes, the government will replace paperwork reporting with digital systems and explore how AI can further drive efficiency. Simpler rules will make British businesses more attractive to investors, the
The UK economy grew by 0.4% between April and June, official data has revealed. The Office for National Statistics (ONS) found that the summer sunshine and sports fixtures helped the economy grow. The ONS stated that growth has ‘remained fairly robust’. The services sector and manufacturing propelled growth in the second quarter. According to the
The UK rate of inflation has risen to 2.9% – its highest level in four months. The rise was driven by higher energy costs, according to the data published by the Office for National Statistics (ONS). Following regulator Ofgem’s price cap increase, energy bills rose on 1 July, adding £221 a year to a household’s
Prime Minister Andy Burnham has been urged to reverse changes to Inheritance Tax (IHT) at the upcoming Autumn Budget. Farmers from around the UK have called on Mr Burnham to honour his pre-election pledge to ‘look again’ at the changes to Agricultural Property Relief (APR) and Business Property Relief (BPR). Prior to the Makerfield by-election,
The British Chambers of Commerce (BCC) has set out a three-point plan for the new government. According to the BCC, Prime Minister Andy Burnham must focus on trade, investment and productivity to support businesses and help the UK economy thrive. Ensuring that firms have the confidence to invest is essential if they are to expand,
The Federation of Small Businesses (FSB) has called for the government to help build trust in artificial intelligence (AI) amongst small firms. It stated that Kanishka Narayan, the government’s new AI Minister, has the ‘opportunity to help small businesses unlock productivity gains from greater AI adoption’. In a new report, the business group found that
HMRC will write to nearly 800,000 taxpayers who could have gaps in their National Insurance (NI) record. The issue affects taxpayers who became self-employed between 2015 and March 2024. According to HMRC, taxpayers who receive a letter or those who utilise its online pension forecast tool and identify gaps in their NI record ‘will be
HMRC has urged customers not to ignore Simple Assessment letters for the 2025/26 tax year. HMRC issues around 1.8 million Simple Assessment letters and stated that people should check the figures in their letter against their own records. The letters will be sent to those who have tax to pay on income that has not