Latest news and industry insights

There has been much media attention on the recent cyber-attacks affecting high street retailers. If you or your business is a customer of these businesses, you may have received communications alerting you to the fact that your data was included in the breach. If so, you may be wondering what you should do to protect yourself.

From next year, Buy-Now, Pay-Later (BNPL) firms will need to work within a stricter regulatory framework. Following last year’s consultation, the government has now laid legislation before Parliament to bring BNPL under formal regulation, aiming to end what’s been called the “wild west” of unregulated borrowing.

The UK government has agreed a new trade deal with the European Union, aimed at making it easier to do business across the Channel. This follows recent agreements with the US and India and is being presented as part of a wider effort to support jobs and help businesses grow.

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 Health and Safety Executive are reminding employers about their responsibilities to protect workers from the health risks that come from working with display screen equipment (DSE), including PCs, laptops, tablets and smartphones.

HM Revenue and Customs (HMRC) have plans to use a callers voice as their password in an effort to speed up phone calls.

Last week, the tax minister responsible for HM Revenue and Customs (HMRC), James Murray, delivered a speech marking the 20th anniversary of HMRC. Previously, the UK’s tax authority was known as Inland Revenue.

A new deal for GPs has been agreed between the government and the British Medical Association (BMA).

The Future of Roads Minister, Lillian Greenwood, has confirmed that the plug-in van grant will be extended for another year.

News reported last week said that the Chancellor has put together draft plans for spending cuts to welfare and other government departments.

The Chancellor Rachel Reeves met recently with major financial firms at Canary Wharf, encouraging them to invest in emerging markets to boost Britain’s economy.

The latest figures show that the government had a surplus of £15.4 billion in January. This represents the difference between the tax it receives and what it spends.

Pulpex, a sustainable packaging company, has received £43.5 million from the National Wealth Fund in exchange for an equity share of the business. The Scottish National Investment Bank is also investing £10 million with a further £8.5 million coming from existing investors.

Beginning last week (17 February), Local Authorities were able to begin awarding a 40% reduction in business rates bills to film studios. The tax relief is aimed at boosting the film industry in the UK and contributing towards more box office hits being made.

Latest figures released by the Office for National Statistics (ONS) show that average wages are continuing to grow faster than inflation. After adjusting for consumer price inflation (CPI), wages rose 3.4% between October and December 2024 when compared with the same period in 2023.