News
| 21-05-2025
Last week was Mental Health Awareness Week, and to mark the occasion, the Health and Safety Executive (HSE) launched a free online learning module to help
| 21-05-2025
If you’re a parent of a 16 to 19-year-old who’s staying in full-time education or training, HM Revenue and Customs (HMRC) is reminding families to extend their Child
| 21-05-2025
In the last couple of weeks, the Bank of England cut interest rates from 4.5% to 4.25%, and a new ‘trade deal’ was announced between the UK and the US.
| 13-05-2025
With many families finding out where their child will be starting school this September, now is a good time for working parents to start planning childcare.
| 13-05-2025
The recent wave of cyber attacks on UK retailers, including Marks & Spencer, Co-op and Harrods, is a reminder that no organisation is too big - or too
| 07-05-2025
From April 2026, banks and payment service providers will face stricter rules around how and when they can close customer accounts,
| 07-05-2025
The government has announced plans to address the growing issue of small, forgotten pension pots - a problem affecting millions of workers who change jobs frequently and accumulate multiple small pensions over time.
| 07-05-2025
James Murray, the Exchequer Secretary to the Treasury, made a Written Ministerial Statement last week that included a number of tax simplification, administration and reform measures. In total,
| 29-04-2025
The International Monetary Fund (IMF) has predicted that the Bank of England could cut interest rates three more times this year, despite the UK facing higher-than-expected inflation.
| 29-04-2025
For most businesses today, digital technology is fundamental to operations. With that comes the growing reality that cyber security is no longer just an IT issue
| 29-04-2025
If you're a sole trader or landlord with annual income over £50,000, a major change is coming your way. From 6 April 2026, you may be required to keep digital business
| 22-04-2025
At Autumn Budget 2024, we were promised a consultation on the tax treatment of predevelopment costs. However, following the Court of Appeal’s decision on a recent case, the government is postponing publication
| 22-04-2025
Farmers across the UK could soon benefit from a major new investment in agricultural technology, with the government announcing £45.6 million in funding to support innovations
| 22-04-2025
In a small bit of good news, March’s inflation figures have been released showing a drop to 2.6% from 2.8% in February. The main reason? Lower petrol prices, which has offered some relief for households and businesses alike.
| 08-04-2025
New rules on how recycling and waste should be sorted in workplaces came into force in England on 31 March 2025. The rules are designed to simplify recycling procedures while reducing the amount of waste sent to landfill or for incineration.
| 08-04-2025
From 7 April 2025, families receiving Child Benefit will see an increase in their payments. HM Revenue and Customs (HMRC) has announced that the weekly rate will rise to £26.05 for the eldest or only child and £17.25 for each additional child.
| 01-04-2025
Over 100 female entrepreneurs, banking representatives, and government officials gathered in Leeds last week for an event focused on breaking down
| 01-04-2025
The government has announced a £20 million package that will help community land trusts, housing cooperatives and other community groups to build over 2,500 new homes in the next 10 years. Some advantages of
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Last week was Mental Health Awareness Week, and to mark the occasion, the Health and Safety Executive (HSE) launched a free online learning module to help employers better understand and manage work-related stress in their teams.
The new resource is part of HSE’s Working Minds campaign, which aims to help businesses take practical steps to improve workplace mental health and meet their legal obligations.
Why does this matter to your business?
According to HSE, around half of all work-related ill health is down to stress, depression or anxiety. That’s a significant figure, and one that many business owners are likely to recognise – whether it’s seen in staff absence, reduced productivity, or just a general drop in morale.
Importantly, managing stress at work isn’t just good for your people – it’s also something the law expects employers to take seriously. As Kayleigh Roberts from HSE puts it: “Preventing work-related stress isn’t just the right thing to do for your workers – it’s also a legal requirement”.
The new module offers guidance in conducting effective risk assessments, identifying the root causes of work-related stress and implementing solutions.
Six key areas to watch
The HSE has identified six main areas that can cause stress at work if they’re not managed well: demands, control, support, relationships, role, and change.
A simple framework: The 5Rs
The module also builds on the Working Minds campaign’s 5Rs, a straightforward approach to managing stress:
- Reach out and have conversations
- Recognise the signs and causes of stress
- Respond to risks by agreeing on action points
- Reflect on the actions taken
- Make it Routine to check in regularly
Next steps
If you’re an employer, especially in a small business where everyone wears multiple hats, this is a helpful, free tool that can make a real difference to how you support your team.
To access the online learning module, you can register
here.
See:
https://press.hse.gov.uk/2025/05/12/hse-provides-free-online-learning-to-help-employers-tackle-work-related-stress/If you’re a parent of a 16 to 19-year-old who’s staying in full-time education or training, HM Revenue and Customs (HMRC) is reminding families to extend their Child Benefit claim by 31 August to avoid the payments stopping altogether.
Why it matters
Child Benefit is worth up to £1,354.60 per year for your first child and £897 for each additional child. It’s a welcome boost for many families, but it won’t continue automatically once your child turns 16. Unless you confirm they’re still in approved education or training, payments will stop at the end of August following their 16th birthday.
With many teens finishing GCSEs this summer, now is the time to get this sorted.
How to extend your claim
It’s quick and easy to extend your Child Benefit online or via the HMRC app. If you’re eligible, you don’t need to wait for anything from HMRC, you can do it today. Alternatively, HMRC is sending out reminder letters between May and July that include a QR code to take you straight to the right page on GOV.UK.
What counts as approved education or training?
You’ll still qualify if your child is studying full-time in non-advanced education (like A-levels, NVQs up to level 3 or home education), or attending approved unpaid training. It doesn’t count if the course is part of a job contract.
Are you an employer? Here’s what to keep in mind
If you employ parents of older teenagers, this reminder might be helpful to share. It’s also worth being aware of changes coming for those affected by the High-Income Child Benefit Charge.
From this summer, families can now opt to pay this charge through their PAYE tax code instead of filing a Self Assessment return, a move designed to cut paperwork. This might reduce admin for some of your employees. You’ll just need to look out for any updates to their tax code for payroll processing.
What about families who opted out of Child Benefit?
If someone in your team previously opted out because of the High-Income Charge, it’s now easier to opt back in if circumstances have changed. They can restart payments through the app or website.
And don’t forget Child Trust Funds
If your teenager has recently turned 16, they can take control of their Child Trust Fund, which could be worth thousands of pounds. They’ll be able to withdraw the money once they turn 18. If they’re not sure where it’s held, there’s a free online tool to track it down on GOV.UK.
Next steps
- Parents: If your child is staying in education or training, log in to the HMRC app or GOV.UK to extend your Child Benefit claim before 31 August.
- Employers: Consider sharing this information with staff or including it in internal communications, especially for those balancing work and parenting teens.
- High-income families: Check if the new digital option for paying the Child Benefit Charge via PAYE could save you time.
As always, if you have questions or aren’t sure how this might affect your personal or business situation, feel free to get in touch.
See: https://www.gov.uk/government/news/parents-of-teens-reminded-to-extend-child-benefit-claim-online
In the last couple of weeks, the Bank of England cut interest rates from 4.5% to 4.25%, and a new ‘trade deal’ was announced between the UK and the US. Let’s see what these news items can tell us about the latest developments in the economy.
Split opinions
At its meeting to discuss the Bank Base Rate, the Monetary Policy Committee (MPC) voted by a majority of 5-4 to reduce it to 4.25%. Two of the opposing members voted for reducing the rate to 4.0%, while the remaining two voted for keeping the rate at 4.5%.
This represents a wide range of opinion, which is perhaps to be expected given the uncertainty both domestically and globally in recent months. It could suggest that your guess is as good as ours on what direction the economy will take in the coming months.
Inflation and growth
At 2.6% in March, inflation is still above the Bank’s target of 2%. It was, however, a reduction from 2.8% in February and so is a step in the right direction.
Most tellingly, though, the MPC noted that this was close to their expectations in February. Perhaps this gives them added confidence in their predictions of how inflation is going to develop over the medium term.
The Bank believes that inflation will increase to 3.5% between July and September because of energy costs. However, the committee believes that inflation will fall back after that.
The latest growth figures showed 0.7% growth in the January-to-March period, stronger than the 0.6% that had been forecast. Critics point out that the period excludes the effects of the Chancellor’s increase in employers’ National Insurance Contributions.
This may mean that we should not expect big cuts to the base rate in the rest of 2025.
With many families finding out where their child will be starting school this September, now is a good time for working parents to start planning childcare. The government’s Tax-Free Childcare scheme can save them up to £2,000 a year per child – and this could be good news for employers as well as employees.
Why this matters for employers
Childcare is one of the biggest financial pressures for working families. By signposting Tax-Free Childcare, employers can support staff wellbeing, reduce financial stress, and make it easier for parents to return to or stay in work.
For every £8 a parent pays into a Tax-Free Childcare account, the government adds £2 – up to £500 every three months per child (or £1,000 if the child is disabled). The scheme can be used for a wide range of approved childcare, including:
- Childminders
- After-school clubs
- Holiday and other wraparound care
This support applies to children aged 11 or under (or up to 16 if the child is disabled).
What employees need to know
To be eligible, the parent and their partner (if they have one) must:
- Be earning at least the National Minimum Wage or Living Wage for 16 hours per week on average
- Each earn less than £100,000 per year
- Not be receiving Universal Credit or childcare vouchers
Each eligible child needs their own account, and parents must reconfirm their details every three months to continue receiving the top-up.
A useful tool for returning parents
This scheme can be particularly helpful for parents returning to work after parental leave, or those increasing their hours. As many employees will be finalising childcare for September, now is a good time to raise awareness.
What employers can do
- Include information about Tax-Free Childcare in any parental leave packs or policies you provide employees with.
- Encourage managers and HR teams to raise awareness, especially among new parents
By promoting Tax-Free Childcare, you can show support for working families and may be able to reduce a barrier that helps you keep a valued employee.
See: https://www.gov.uk/government/news/save-up-to-2000-a-year-on-childcare-for-your-new-school-starter
The recent wave of cyber attacks on UK retailers, including Marks & Spencer, Co-op and Harrods, is a reminder that no organisation is too big – or too prepared – to be targeted. But while the headlines may focus on the big names, there are important lessons here for businesses of all sizes.
The National Cyber Security Centre (NCSC) is working with the affected businesses. In a recent statement they said they are not yet in a position to say if the attacks are linked. However, they are saying that they have insights and there is a lot they do know.
For instance, while not confirming any details, NCSC have commented and provided advice on press speculation that social engineering was used to target IT helpdesks. By impersonating support staff – or posing as employees locked out of their accounts – a hacker might use social engineering tactics to trick people into handing over login credentials and security codes.
It’s a disturbingly simple method, but one that works.
The takeaway? People, not just passwords, are your first line of defence.
In its latest guidance, the NCSC urges organisations to review their password reset processes – especially for senior employees who have access to sensitive parts of your network. That means thinking carefully about how identity is verified when someone calls the IT help desk. Is there a secondary check? Would a fraudster be spotted?
Some in the cyber community are even suggesting codewords to help authenticate real users. But that only works if it’s part of a broader culture of awareness, where staff are trained to question the unexpected, even if it sounds routine.
Small businesses aren’t immune
While the recent attacks have hit household names, the tactics used don’t discriminate by size. If anything, smaller businesses – often without dedicated cyber security teams – can be seen as easier targets. That’s why it’s essential for you to act now:
- Review how password resets are handled internally. Who has access? What verification steps are in place?
- Use multi-factor authentication wherever possible. A password alone is no longer enough.
- Monitor for unusual logins. Logins from unexpected locations or at odd times should trigger a red flag.
- Recognise social engineering. You and your staff need to know how to recognise potential threats. Making updates regular and having short refresher sessions can go a long way.
Organised or opportunistic?
The advice from NCSC seems to indicate that these recent incidents are not about high-tech hacking. It’s about gaining trust and then gaining access. This makes it vital to see cyber security not as an IT issue, but a business-wide responsibility.
NCSC have warned that online criminal activity is rampant and attacks like the ones experienced by high profile retailers are becoming more and more common. Businesses of all sizes need to be prepared. The best defence for most organisations starts internally – with stronger processes, clearer communication, and a healthy dose of scepticism.
Now is the time to ask: could this happen to us?
See: https://www.ncsc.gov.uk/blog-post/incidents-impacting-retailers
From April 2026, banks and payment service providers will face stricter rules around how and when they can close customer accounts, under new legislation aimed at improving transparency and giving people and small businesses more time to respond to account closures.
The changes mean that:
- Customers must be given at least 90 days’ notice before their account is closed or a payment service is terminated – up from the current 60 days.
- A written explanation must be provided, outlining why the account is being closed. This is intended to help customers challenge the decision, including through the Financial Ombudsman Service if necessary.
These new protections are expected to apply to contracts agreed from 28 April 2026, and are part of a wider government plan to give people and businesses more certainty and security when it comes to accessing banking services.
Why It Matters for Businesses
Small business owners in particular have raised concerns in recent years about accounts being shut down with little or no warning, often without a clear explanation. Clearly this is very disruptive and has left businesses with no time to complain or find a replacement bank.
The new rules should help to improve matters. There will however still be some exceptions – for example, where account closure is necessary for financial crime prevention.
Therefore, it’s worth being aware of these upcoming changes. While they don’t come into force until 2026, they could influence how banks handle account management going forward.
See: https://www.gov.uk/government/news/millions-of-people-and-businesses-protected-against-debanking
The government has announced plans to address the growing issue of small, forgotten pension pots – a problem affecting millions of workers who change jobs frequently and accumulate multiple small pensions over time.
Currently, there are around 13 million small pension pots in the UK, each worth £1,000 or less. That number is growing by about one million a year. For savers, this means difficulty in keeping track of retirement savings and can mean paying multiple flat rate charges which leads to lower returns. Problems are caused for the pensions industry too; they estimate that the administrative costs of managing these small pots could be as much as £225 million a year.
What’s Changing?
Under reforms being introduced through the Pension Schemes Bill, small pots will be automatically consolidated into a single pension scheme that meets certain standards – including providing good value for savers. Individuals will still have the right to opt out if they wish.
This “pot for life” approach is expected to:
- Cut down on flat rate fees applied to each small pot.
- Make it easier for savers to manage their pensions.
- Reduce admin costs for pension providers.
- Improve long-term returns – the government estimates that the pension of an average earner could be boosted by around £1,000.
How It Will Work
Key features of the proposed system include:
- A Small Pots Data Platform to help identify and match savers’ small pots.
- Clear criteria for what qualifies as a “consolidator” scheme (including good value, scale, and consumer protection).
- An opt-out option for savers who prefer not to consolidate their pots.
Industry Reaction
The proposals have received broad support from across the pensions sector. Organisations such as the Pensions and Lifetime Savings Association, Which?, and leading pension providers have welcomed the move, saying it will reduce complexity and help people get better outcomes from their savings.
What to Watch For
The Pension Schemes Bill is due to be introduced to Parliament later this spring. If passed, it will mark a significant shift in how pensions are managed, particularly for workers with multiple jobs over their careers.
Employers may want to start reviewing how the reforms could affect their workplace schemes and communications with staff.
If you have pension pots with various providers, then there could be value in consolidating them even if their value is more than £1,000.
See: https://www.gov.uk/government/news/1000-retirement-savings-boost-from-plans-to-bring-together-small-pension-pots
James Murray, the Exchequer Secretary to the Treasury, made a Written Ministerial Statement last week that included a number of tax simplification, administration and reform measures. In total, 39 measures were announced.
Many measures are intended to reduce burdens on employers and small businesses, whereas others are designed to modernise H M Revenue & Customs (HMRC) systems and processes.
Here are five highlights included among the measures announced.
- Delay to payrolling benefits
Mandatory payrolling of benefits in kind will now be delayed to April 2027 instead of April 2026.
Payrolling benefits is a way to report and tax employee benefits through the payroll system, rather than submitting them at the end of the tax year via form P11D. Currently, employers can voluntarily choose to payroll benefits, however the government intends for this to become mandatory.
Delaying the introduction of mandatory payrolling of benefits will give employers more time to prepare. In addition, HMRC will work to make sure that the new requirements are easy for employers to implement.
- Simplification to Capital Goods Scheme
The VAT Capital Goods Scheme (CGS) makes you adjust how much VAT you can reclaim on expensive items like buildings or equipment if how you use them changes over time – especially if you move between taxable and exempt activities.
While no date has been mentioned yet, new legislation will be put forward to remove computers from the assets covered by the scheme. The capital expenditure value of land, buildings and civil engineering work at which CGS begins to apply will be increased to £600,000 (excl. VAT) from its current level of £250,000 (excl. VAT).
This will be a welcome simplification for affected businesses.
- Updates to Check Employment Status for Tax (CEST) Digital Tool
HMRC is making this tool easier to use, and updates to the tool may have been made by the time you are reading this.
These are accessibility changes only though. How the CEST tool works out if a worker is self-employed or employed is not being changed.
This is unfortunate as there are occasions where the determination the CEST arrives at is not necessarily accurate. If you would like a second opinion about the results of a check you have carried out, please contact us and we would be happy to help you.
- VAT Treatment of Business Donations of Goods to Charity
The government is to begin a consultation on the VAT treatment of business donations of goods to charity.
The consultation will look at what types of goods are donated, how they are distributed, and if there is scope to make adjustments that will balance preventing tax evasion with avoiding burdensome administration requirements.
The consultation is available to view here.
- Less paper in the post
HMRC is aiming to reduce the amount of paper correspondence it sends out, and use digital formats instead. It expects to be able to save £50 million in print and postage costs annually by the 2028-29 tax year.
Therefore, we should begin to see fewer letters from HMRC arriving in the post as they make use of online methods. Certain critical correspondence will continue to be sent by paper post, and promises have been made not to abandon those who are unable to access correspondence by digital means.
If you are affected by these or any other measures announced in the Tax Update Spring 2025 announcement, please call us and we will be happy to help you understand how your personal situation is affected and what you need to do.
To review the Exchequer Secretary’s statement in full, please see: https://questions-statements.parliament.uk/written-statements/detail/2025-04-28/hcws607
The International Monetary Fund (IMF) has predicted that the Bank of England could cut interest rates three more times this year, despite the UK facing higher-than-expected inflation.
Inflation in the UK is now forecast to be 3.1% for 2025 – the highest among advanced economies – largely driven by higher utility and energy bills. However, the IMF believes this spike will be temporary, paving the way for further rate reductions. It expects inflation to fall back to 2.2% by 2026, close to the Bank of England’s long-term target.
For business owners, potential rate cuts offer both opportunities and challenges:
- Lower borrowing costs could make it cheaper to invest, expand, or manage cash flow.
- Persistently high costs – especially energy and utilities – could still squeeze margins in the short term.
- Global uncertainty, including US tariffs, could affect supply chains, trade opportunities, and demand, depending on your sector.
The IMF also downgraded its growth forecast for the UK economy in 2025 from 1.6% to 1.1%, reflecting the impact of global trade tensions, particularly from new US tariffs. While this is a slowdown, it still places the UK ahead of France, Italy, and Germany.
The message for businesses is clear: while interest rate cuts could support borrowing and investment, ongoing cost pressures and global instability mean careful financial management and resilience planning remain essential.
See: https://www.bbc.co.uk/news/articles/cy9vy7yq849o
For most businesses today, digital technology is fundamental to operations. With that comes the growing reality that cyber security is no longer just an IT issue – it’s a business owner and board-level responsibility.
Managing cyber risks effectively is now as essential as managing financial, legal, or operational risks. Increasingly complex supply chains and evolving threats make strong cyber governance critical not just for resilience, but for business continuity and sustainable growth.
To provide support in this area, the National Cyber Security Centre (NCSC), working alongside the Department for Science, Innovation and Technology (DSIT) and industry experts, has developed a set of resources.
While these resources have not been specifically designed for smaller businesses, the practical insights contained in the guidance can be useful to businesses of all sizes.
The resources are split as follows:
- Cyber Governance Code of Practice – sets out the most critical governance actions that directors need to take ownership of.
- Cyber Governance Training – confirms why and how board members take those actions.
- Cyber Security Toolkit for Boards – underpins the above two, providing in-depth support.
These tools are designed to be practical, with input from organisations like NEDonBoard to ensure relevance for board members.
While many businesses will already have some cyber security measures in place, these resources aim to help boards review whether governance structures are sufficiently robust – and, if necessary, strengthen them.
Good cyber governance is not just about compliance; it can also improve resilience of your business, protect your reputation, and put you in a better position for growth in a digital economy.
To review the guidance, see: https://www.ncsc.gov.uk/cyber-governance-for-boards/overview
If you’re a sole trader or landlord with annual income over £50,000, a major change is coming your way. From 6 April 2026, you may be required to keep digital business records and submit quarterly updates to HM Revenue and Customs (HMRC) under Making Tax Digital (MTD) for Income Tax.
This is one of the biggest shifts in Self Assessment since it was introduced, and while there are potential benefits, it will also mean significant changes in how you manage your accounts.
What’s Changing?
Under MTD for Income Tax, affected individuals must:
- Keep digital records using MTD-compatible software.
- Submit quarterly updates of income and expenses to HMRC.
- File an end-of-year digital tax return (replacing the annual Self Assessment tax return).
The qualifying income threshold refers to total income from self-employment and property (before any expenses or allowances are deducted).
MTD aims to move the tax system towards more frequent, digital reporting. While some businesses may find it helps with financial organisation and reduces errors, it also means a shift away from the once-a-year tax return process that many are familiar with.
The Pros and Cons
You may find some potential benefits from the new system, such as:
- More up-to-date information about your tax position.
- Possible time savings at year-end if records are kept properly throughout the year.
- Reduced risk of errors in tax reporting.
However, there are going to be some potential challenges too:
- Additional administrative burden, with four quarterly update submissions plus an end-of-year tax return.
- Requirement to purchase or subscribe to compatible accounting software, if you don’t do so already.
- A learning curve for those less familiar with digital bookkeeping.
For many sole traders and landlords, the biggest adjustment will be the need for regular digital record-keeping rather than dealing with tax in one go at the end of the year.
What Happens Next?
MTD is gradually being introduced so that it will eventually be a requirement for any self-employed individual or landlord with qualifying income over £20,000.
- From April 2026, self-employed businesses and landlords with qualifying income over £50,000 will need to comply with the new MTD requirements.
- From April 2027, the threshold falls to £30,000.
- From April 2028, it drops again to £20,000.
HMRC is currently encouraging businesses to join a testing programme, which allows participants to familiarise themselves with the new system before it becomes mandatory. During testing, there will be no penalties for late quarterly updates, making it a safer time to learn the process.
How We Can Support You
Whether you want help choosing software, setting up your digital records, or simply understanding what’s changing, we’re here to guide you through the transition. Every business will be different – some may need only minor tweaks to their processes, while others may face a bigger adjustment.
If you’d like to discuss how MTD will affect you, or how best to prepare, please get in touch.
At Autumn Budget 2024, we were promised a consultation on the tax treatment of predevelopment costs. However, following the Court of Appeal’s decision on a recent case, the government is postponing publication of the consultation while it considers the implications of the decision.
The case, which is known as Orsted West of Duddon Sands (UK) Ltd and others v HMRC [2025] EWCA Civ 279, marked a victory for taxpayers and provides clarity on how capital allowances are treated on pre-construction development costs.
Capital allowances are a form of tax relief that businesses can claim when they pay out on capital expenditures. This particular case arose because of a capital allowances claim for expenditure on pre-construction development work in the years before the resulting buildings became operational. H M Revenue & Customs (HMRC) contended that this expenditure did not fit within the legal definition of what can qualify as a capital allowance and so denied the claim.
The Court of Appeal, however ruled that HMRC’s view was too narrow and upheld the taxpayer’s claim. The Court developed a ‘three-limb’ test for whether expenditure can qualify, as follows:
- The taxpayer can demonstrate that the expenditure informed the design or installation of the asset in question.
- The asset in question was actually acquired or constructed.
- The expenditure wasn’t because of the particular circumstances of the taxpayer. This would, for instance, rule out financing costs.
The decision meant that costs for environmental impact assessments, geophysical and geotechnical studies and other design and installation work could qualify for capital allowances.
Is this the end of matters?
Possibly not. HMRC may appeal the case to the Supreme Court. However, the government has committed to looking at how to provide greater clarity on what qualifies for different capital allowances and simplifying the law and tax treatment of predevelopment costs.
Therefore, once the government has digested the results of the decision, they may move to adjust the legislation rather than continue to pursue the matter through the courts.
If you need any advice on how the appeal decision may affect predevelopment expenditure you have made or are planning to make, please get in touch. We would be happy to help you!
See: https://www.gov.uk/government/news/tax-treatment-of-predevelopment-costs-update-on-consultation
Farmers across the UK could soon benefit from a major new investment in agricultural technology, with the government announcing £45.6 million in funding to support innovations that boost food production, improve profitability, and protect the natural environment.
Announced on 14 April, the funding will support a wide range of technologies. These include fruit-picking robots, livestock health monitoring systems, and irrigation systems that maximise water use. The goal is to move these solutions from research labs to real farms, making them accessible and practical for everyday farming operations.
Support at every stage of development
The funding is spread across three special funds and will help at different stages of innovation, from early research to on-farm trials.
The first opportunity is the new Accelerating Development of Practices and Technologies (ADOPT) competition, opening on 28 April. This programme will commit up to £20.6 million in 2025-26 to help farmers test new technologies on their own farms. It’s aimed at bridging the gap between new ideas and real-world applications.
To support farmers through the process, the ADOPT Support Hub will provide guidance and a £2,500 support grant to help with applications and trial setup.
Two more competitions open in May
From 5 May, two further funding rounds will launch under the Farming Innovation Programme (FIP).
The first will provide £12.5 million for collaborative research into reducing emissions from farms, supporting sustainability and climate resilience. The second also offers £12.5 million and will fund research into precision-bred crops to improve yields, reduce the need for chemical inputs, and strengthen resistance to disease. This builds on the opportunities created by the Genetic Technology (Precision Breeding) Act 2023.
What this means for farmers
These funding opportunities could help farms of all sizes adopt technology that improves efficiency, reduces emissions, or opens up new income streams.
The ADOPT Support Hub can be found here.
In a small bit of good news, March’s inflation figures have been released showing a drop to 2.6% from 2.8% in February. The main reason? Lower petrol prices, which has offered some relief for households and businesses alike.
However, April has brought fresh challenges. Wage costs and energy prices have already increased, and that’s expected to feed into higher costs in the coming months. The Bank of England’s last forecast showed that they expect inflation to rise again – potentially reaching 3.7% – and to stay above its 2% target until the end of 2027.
The next big date for your diary is 8 May 2025, when the Bank of England will announce whether interest rates are going up, down, or staying put. What does all of this mean for your business planning?
What to watch as a business owner
Even though inflation dipped in March, the picture ahead is more uncertain. Here are a few ways to stay on the front foot:
- Rising costs could squeeze margins
Now could be a good time to:
- Look into fixed-rate energy deals if they are available.
- Consider if there are any ways that you could be more energy efficient.
- Speak with suppliers or landlords about cost-sharing opportunities.
- Customers may be price-sensitive
If your costs are rising, many of your customers will be feeling the squeeze too. A smart pricing strategy will help you stay competitive without undercutting your margins:
- Consider tiered pricing or flexible packages.
- Emphasise the value of your products or services rather than just the price.
- Keep communication open with your customer base so you understand their needs. This will help you to know how to respond.
- Interest rates remain a key factor
While there was an expectation that interest rates would see more cuts during 2025, this is now uncertain. Therefore, you should continue to monitor your borrowing costs, and factor potential interest rate changes into any investment decisions you are planning.
- Staffing and wages
With living costs staying high, staff who did not receive the increase for minimum wage workers may begin looking for pay rises. If you’re not in a position to match inflation, consider other ways you can support and keep your staff. For instance, you may be able to:
- Offer flexible hours or hybrid working options.
- Provide training or upskilling opportunities.
- Show appreciation through small perks or recognition.
Stay agile, stay informed
While the dip in March inflation is welcome, it’s not a signal that everything’s cooling down. With inflation likely to rise again, it’s wise to build flexibility into your business plans.
Keep an eye on the Bank of England’s interest rate decision on 8 May. It could offer more clues about where the economy – and your costs – are headed next.
If you’d like tailored advice for your business or help adapting your plans, just shout. We’re here to help however we can.
New rules on how recycling and waste should be sorted in workplaces came into force in England on 31 March 2025.
The rules are designed to simplify recycling procedures while reducing the amount of waste sent to landfill or for incineration.
Under the new rules, workplaces with 10 or more employees need to arrange for collection of:
- Dry recyclable materials – this would include plastic, metal, glass, paper and card.
- Food waste.
- Residual (non-recyclable) waste.
Depending on their waste collector, workplaces may need to separate paper and card from other dry recyclable materials.
The Environment Agency is the regulator for the new Simpler Recycling rules. They have confirmed their commitment to supporting businesses, both waste producers and collectors in applying the rules.
Further recycling changes will come into force for businesses and households over the next couple of years as the Simpler Recycling rules take effect.
See: https://www.gov.uk/government/news/new-rules-simplifying-recycling-for-workplaces-in-england-come-into-force
From 7 April 2025, families receiving Child Benefit will see an increase in their payments. HM Revenue and Customs (HMRC) has announced that the weekly rate will rise to £26.05 for the eldest or only child and £17.25 for each additional child. This means an annual payment of £1,354.60 for the first child and £897 for each subsequent child. These payments, usually made every four weeks, are automatically into claimants’ bank accounts.
One way parents can manage their Child Benefit is via the HMRC app, which allows them to make and adjust claims and update their details.
What This Means for Employers
While Child Benefit is a personal entitlement for families, there are several ways this update can be relevant to businesses and employers:
- Supporting Employees’ Financial Wellbeing: This increase in Child Benefit can provide a small but valuable financial boost to employees with children. Encouraging staff to check their eligibility and claim what they are entitled to can help reduce financial stress and improve overall wellbeing.
- Payroll Considerations and High-Income Employees: Employees earning between £60,000 and £80,000 may be subject to the High Income Child Benefit Charge (HICBC). From summer 2025, affected employees will be able to opt to have this charge deducted via their PAYE tax code, reducing the need to file a Self Assessment tax return. Employers may need to provide guidance on this option and ensure payroll systems are updated if and when new tax codes are received from HMRC.
- Maternity and Parental Leave Advice: Employees taking maternity or parental leave should be reminded to claim Child Benefit as soon as possible after their child’s birth. Claims can only be backdated up to three months, so prompt action is crucial.
- National Insurance Credits Awareness: Claiming Child Benefit also provides National Insurance (NI) credits, which contribute to an individual’s State Pension entitlement. Employees who choose to opt out of receiving payments (to avoid HICBC) should still make a claim to secure these NI credits.
Key Actions for Employers
- Inform staff about the Child Benefit increase and encourage eligible employees to claim.
- Educate high-income employees about the upcoming PAYE tax code option for HICBC.
- Ensure payroll teams are aware of the changes, particularly around HICBC deductions.
- Remind new parents of the importance of claiming Child Benefit promptly to secure payments and NI credits.
By keeping employees informed about these changes, businesses can contribute to their financial wellbeing and support parents in managing their family finances.
If you or your employees would like any further information or help, please feel free to contact us. We would be happy to help!
See: https://www.gov.uk/government/news/child-benefit-boost-for-millions-of-families
Over 100 female entrepreneurs, banking representatives, and government officials gathered in Leeds last week for an event focused on breaking down financial barriers for women-led businesses.
Hosted by UK Export Finance (UKEF) and with speakers from Female Founder Finance and the Invest in Women Taskforce, the event celebrated the success of British businesswomen while exploring ways to increase access to finance and international trade opportunities.
UKEF, the government’s export credit agency, provided over £570 million in financing for small businesses last year. However, it is estimated that the UK economy would grow by around a quarter of a trillion pounds if women received more investment opportunities. As a result, UKEF is aiming to increase support for women-led firms as part of its business plan.
Gareth Thomas, Minister for Exports, emphasised the government’s commitment to improving access to finance for female entrepreneurs, highlighting UKEF’s new partnership with Female Founder Finance. The collaboration aims to streamline financing referrals, reducing missed opportunities for women owners.
Founder of Female Founder Finance, Roxanne Goodman, called the partnership a “game-changer” for women-led businesses, stressing that better access to trade finance will empower more female entrepreneurs to succeed on the global stage.
The event follows the Chancellor’s endorsement of the Invest in Women Taskforce, part of a wider government initiative to drive economic growth by increasing investment in women-led businesses.
See: https://www.gov.uk/government/news/women-leaders-gather-in-leeds-to-help-unlock-sme-business-growth
The government has announced a £20 million package that will help community land trusts, housing cooperatives and other community groups to build over 2,500 new homes in the next 10 years.
Some advantages of community-led housing projects include having local people locate and design new homes that meet the specific needs of their local area. It is also possible for community groups to access land and be given planning permission in situations where speculative developments cannot.
The investment is aimed at helping achieve the government’s wider homebuilding plans and is being provided at a scale that has not been done before. The funding should help community groups more easily access the housebuilding capital they need for projects.
Community-led housing can deliver much-needed affordable housing in their area and is used more widely in other countries in Europe. It is thought that this could be an under-utilised source of building affordable homes for communities.
The £20 million will be invested in a social finance fund that will be run by Resonance Limited, a social finance company that has experience in supporting the delivery of community-led housing. They will use the investment to attract up to £30 million in match funding from the private sector, local authorities and combined mayoral authorities. It is expected that Resonance will begin making direct investments in schemes over the next few weeks.
Housing and Planning Minister, Matthew Pennycook said: “This investment will help community-based organisations overcome barriers to housing delivery and will support the growth of the community-led housing sector.”
See: https://www.gov.uk/government/news/government-paves-the-way-for-local-people-to-build-more-homes
