HLAS

Cornwall is in line for a wave of investment and reform as the government sets out plans to grow the region’s economy, support small businesses and create jobs linked to clean energy and advanced manufacturing. During a visit last week, Chancellor Rachel Reeves confirmed a £28.6 million investment from the National Wealth Fund to support the reopening of the South Crofty tin mine near Redruth. The project is expected to create over 300 direct jobs and support around 1,000 more through local supply chains, including electricians, metal fabricators and other trades. Tin is seen as a critical mineral for transitioning [...]

The UK and India have now formally signed their previously announced new Free Trade Agreement (FTA). This marks the end of negotiations and means that the agreement will be ratified and come into force over the coming months. India: An Increasingly Important Market India is already a key trading partner for the UK. The UK already imports £11 billion of goods from India, however, cheaper tariffs will make it easier to buy Indian goods. This is particularly expected to benefit businesses buying components and materials used in advanced manufacturing components, as well as those buying luxury and consumer goods. India’s [...]

A businessman has been jailed for more than four years after hiding assets, illegally acting as a company director, and obtaining over £100,000 in credit while still subject to bankruptcy restrictions. Helim Miah, 46, of Lansdowne Road, was made bankrupt in 2006 owing £12.3 million. He was disqualified from acting as a company director for 13 years. Because of failing to cooperate with the Insolvency Service, he could not be discharged from his bankruptcy in 2007 or be released from his debts. He therefore continued to be restricted from forming new companies and obtaining credit. Despite this, Miah: Used £130,000 [...]

The UK’s competition regulator is looking to curb Apple and Google’s dominance of the mobile app market, with proposed new powers that could make life easier for developers and boost innovation. The Competition and Markets Authority (CMA) has proposed designating both tech giants with Strategic Market Status (SMS) in each of their mobile platforms. This would let the CMA impose rules to open up competition, and they have published separate roadmaps of potential actions to do that. A final decision on both SMS designations is expected by 22 October 2025. Why this is happening Apple and Google control almost every [...]

New government reforms will make it quicker and cheaper for small businesses to turn empty shops into cafes, bars and music venues, as part of a wider push to bring life back to high streets and support small business growth. Outdated planning and licensing rules will be overhauled under a new National Licensing Policy Framework, announced as part of the government’s upcoming Small Business Plan. The changes are designed to reduce red tape, cut costs, and speed up decisions for entrepreneurs looking to launch hospitality businesses in town centres. Key measures include: Making it easier to convert disused shops into [...]

The International Monetary Fund (IMF) Executive Board has concluded its 2025 Article IV Consultation assessing that the UK economy is recovering, with modest growth expected this year and stronger momentum building into 2026. But global uncertainty, cautious consumers, and inflation pressures could still slow things down. The IMF forecasts growth of 1.2% in 2025, rising to 1.4% in 2026. Business investment is picking up, and public spending from the last budget is helping support the recovery. Inflation still a concern - but expected to ease While inflation is expected to average 3.2% this year, the IMF estimates that it should [...]

Google is launching a new AI-powered search feature that could change how people find information online - and how they find your business. The update, known as "AI Mode," offers users a conversational-style summary instead of the familiar list of blue links. It will be optional for users, but this could mark a shift in the direction Google is heading. What’s changing? Standard Google searches return a list of links, with many businesses relying on these to bring in web traffic, enquiries or sales. But with AI Mode, the search results will include an AI-written response with fewer direct links [...]

When it comes to growing a business, many people focus on increasing sales. But sales alone don’t pay the bills - profit does. If you want your business to thrive, it’s important to look beyond the top line and focus on what’s actually left at the end of the day. Why profit matters more than sales High sales figures might look impressive, but if your costs are just as high (or higher), your business may be working hard for very little reward. Profit is the real measure of success - it’s what gives you the freedom to reinvest, grow, or [...]

HMRC have identified an issue affecting some Self Assessment taxpayers in relation to Class 2 National Insurance contributions (NICs) for 2024/25. Some self-employed taxpayers with profits above £12,570 have seen a Class 2 NICs charge of £358.80 added to their accounts when they shouldn’t have been. In some circumstances it will be less. HMRC say that they have taken action to correct the Class 2 NICs figure where the information they hold has allowed. If this applies to you, you will have received a message to let you know. HMRC will correct the records of other taxpayers after the issue has been resolved and [...]

On 21 July 2025, known as ‘Legislation Day’, HM Treasury published a collection of draft legislation and tax-related documents. The forthcoming legislation outlines several significant measures, grouped into the following categories: Closing the tax gap A number of proposals aim to combat tax avoidance. Among them is a new requirement for tax agents to formally register with HMRC in order to act on behalf of their clients. A major justification provided by HMRC for the rollout of Making Tax Digital (MTD) for Income Tax is the expectation that it will reduce taxpayer errors. Further details on MTD are discussed in [...]