UK economy sees surprise growth in March despite Iran war
BBC Business News
The Update: The UK economy surprisingly grew by 0.3% in March, suggesting greater market resilience than expected. This could mean a more favourable trading environment for your business. Action Recommended: - Stay optimistic but cautious; monitor economic indicators closely. - Re-evaluate any immediate plans based on previous recession fears.
Read the source →Faisal Islam: Six things we now know about the UK economy in charts
BBC Business News
The Update: The UK economy is showing resilience despite various challenges, with recent data painting a nuanced picture. Action Required: - Stay informed on economic trends to adapt your business strategy. - Look for stability or opportunities indicated by key economic indicators.
Read the source →HMRC to use AI from British tech firm to spot fraud and tax return errors
BBC Business News
The Update: HMRC is deploying a £175 million AI system to detect tax return errors and fraud. This means your tax submissions will face increased scrutiny. Action Required: - Ensure absolute accuracy and due diligence in all tax filings. - Prepare for potential increased HMRC inquiries; keep robust records.
Read the source →Enquiry Manual
HMRC News
The Update: HMRC's internal manual on tax enquiries gives insight into how they investigate your business's tax affairs. Action Required: - Understand HMRC's powers and procedures if you face an enquiry. - Ensure your records are robust and readily accessible.
Read the source →Bill that could nationalise British Steel takes first step through Parliament
Dept for Business & Trade — GOV.UK
A Bill aiming to nationalise British Steel has commenced its parliamentary journey. While directly concerning a specific industry, this development could signal a broader willingness for government intervention in strategically important sectors. For SMEs and advisers in, or supplying, heavy industries, this may indicate potential shifts in industry structure, competitive landscape, or even government procurement policies, requiring vigilance regarding future market dynamics and policy changes.
Read the source →Make Work Pay: misuse of non-disclosure agreements (NDAs)
Dept for Business & Trade — GOV.UK
The Update: The government is consulting on preventing NDA misuse in workplace harassment/discrimination cases. This could significantly change how your business uses NDAs in employment disputes. Action Required: - Review your current NDA policies and practices, particularly concerning workplace complaints. - Anticipate new compliance requirements and employment law changes.
Read the source →Guidance: Ceased or suspended Authorised Corporate Service Providers (ACSPs)
Companies House — GOV.UK
The Update: Companies House has listed Authorised Corporate Service Providers (ACSPs) that are suspended or have ceased operating. You must verify the status of any ACSP you use or consider. Action Required: - Check that any ACSP you use is currently authorised to ensure compliance and company administration remains valid. - Avoid using unapproved providers to prevent complications with company filings.
Read the source →COTAX Manual
HMRC News
The Update: HMRC updated its Company Tax manual, a comprehensive guide on corporate tax compliance and procedures. This resource details all aspects of company taxation, including appeals, payments, and penalties. Action Required: - Consult the manual for detailed guidance on your corporate tax obligations. - Use it to understand HMRC's procedures and potential issues your business might face.
Read the source →Guidance: Digital platform reporting: service availability and issues
HMRC News
The Update: HMRC has published guidance on the availability and operational issues of its digital platform reporting service. This affects businesses submitting information for digital platforms. Action Required: - Check the service status regularly before attempting submissions to avoid delays. - Ensure you are aware of any system outages to plan your reporting effectively.
Read the source →Policy paper: Ecosystem services — technical note
HMRC News
HMRC has issued a technical note providing guidance on the taxation of ecosystem services. Businesses and landowners involved in environmental services, such as carbon sequestration or biodiversity credits, should review this document to understand the tax implications of these activities, ensuring proper accounting and compliance for related income and expenses.
Read the source →Accredited official statistics: UK overseas trade in goods statistics: March 2026
HMRC News
The HMRC publication details comprehensive UK overseas trade in goods statistics for March 2026, covering over 9,000 commodities and 200 partner countries. This provides SMEs involved in international trade, and their accountants, with vital aggregated and detailed data to analyse market trends, competitive landscapes, and supply chain dynamics, informing strategic business decisions related to imports and exports.
Read the source →UK overseas trade in goods statistics March 2026: import and export data
HMRC News
This HMRC release provides specific EU and non-EU import and export data for March 2026. For UK SMEs engaged in cross-border trade, and their accountants, this granular data is crucial for understanding current trade flows, assessing the impact of post-Brexit regulations, identifying new market opportunities, and ensuring compliance with evolving trade policies, particularly concerning customs and VAT.
Read the source →Accredited official statistics: Individual insolvencies, April 2026
Insolvency Service — GOV.UK
The Update: The latest statistics show the trends in individual insolvencies, including bankruptcies and IVAs. Action Required: - Monitor personal and broader economic insolvency trends, as this can affect customer payment reliability. - Assess your business's credit risk exposure.
Read the source →Data tables for customs declarants and declaration volumes for international trade in 2025
HMRC News
These HMRC data tables present the number of customs declarants and declaration volumes for international trade in 2025. For SMEs involved in importing or exporting, and their accounting professionals, this statistical release offers an insight into the administrative burden and capacity of the customs declaration process, potentially highlighting trends in trade volume and the reliance on customs agents.
Read the source →Official Statistics: Customs declarants and declaration volumes for international trade in 2025
HMRC News
This HMRC statistical publication outlines the volume of customs declarations and the number of businesses engaged in international trade in goods during 2025. For SMEs and their accountants, this provides a valuable overview of the landscape of UK international trade, enabling comparison of their own activity levels and helping to assess the overall readiness of the customs system.
Read the source →Official Statistics: Trade union statistics 2025
Dept for Business & Trade — GOV.UK
The Update: This article provides statistics on trade union membership. For most SMEs, this is a background statistical update rather than a direct operational impact. Action Required: - No direct action is required unless your business has significant trade union engagement.
Read the source →Official Statistics: Non-domestic rating: stock of properties, March 2026
HMRC News
This HMRC publication presents statistics on the stock and value of properties on the 2023 central and local rating lists as of 31 March 2026. For UK SMEs operating from commercial premises, and their advisors, this data is important for understanding potential changes in business rates valuations, informing property investment decisions, and budgeting for future occupancy costs.
Read the source →How to report Pillar 2 Top-up Taxes
HMRC News
The Update: HMRC has published guidance on reporting Pillar 2 Top-up Taxes. This primarily impacts very large multinational enterprises, not typical SMEs directly. Action Required: - Most SMEs can ignore this for now as it's for complex corporate structures. - If you advise larger, complex groups, be aware of future compliance.
Read the source →Official Statistics: Schedule of updates and announcements for VO statistics
HMRC News
The Update: The Valuation Office Agency (VOA) has released its schedule for updates to property valuation statistics. This could impact your business rates and property tax calculations. Action Required: - Keep an eye on VOA announcements for changes affecting your business premises. - Discuss any potential revaluations with us.
Read the source →Official Statistics: Trade and investment factsheets: latest update
Dept for Business & Trade — GOV.UK
The Update: The Department for Business & Trade has issued a comprehensive update to its trade and investment factsheets across various global partners. Action Required: - Access these factsheets if you're looking to expand internationally or source from overseas. - Use the intelligence to inform your market assessments and strategic decisions.
Read the source →International treaty: Bahrain: tax treaties
HMRC News
The Update: HMRC has released tax treaties between the UK and Bahrain. These detail tax obligations and potential reliefs for businesses operating in both countries, aiming to prevent double taxation. Action Required: - If you have commercial interests in Bahrain, review these treaties with your accountant. - Understand how cross-border transactions and income streams will be taxed.
Read the source →International treaty: Ivory Coast: tax treaties
HMRC News
The Update: HMRC has released tax treaties between the UK and Ivory Coast. These detail tax obligations and potential reliefs for businesses operating in both countries, aiming to prevent double taxation. Action Required: - If you have commercial interests in Ivory Coast, review these treaties with your accountant. - Understand how cross-border transactions and income streams will be taxed.
Read the source →