February 2025

It is imperative that we are all aware of the increasingly sophisticated methods adopted by cyber criminals and that we remain vigilant to protect ourselves and our businesses. If you receive an email purporting to be from one of our team at Peplows informing you of the need to change the payment details for Peplows, HMRC or any other person you need to pay, please telephone us on a known number (not one that may be included in the email) to verify the change.

Another hot topic is Making Tax Digital for Income Tax (MTD for IT). Complying with the requirements of MTD for IT will involve keeping business records in specialist compatible software and then using that software to submit the business results to HMRC on a quarterly basis.

Finally, on run up to the end of the tax year on 5 April 2025, don’t miss the opportunity to check that your family and business finances are arranged in the best way possible.

Below is our round-up of the latest tax and business news. Please contact us if you want to talk about how these updates affect you or your business. We are here to support you!

Important reminder for UK intermediaries (Agencies and Platforms)

Are you thinking about starting a new business?

Base rate cut to 4.5%

Renters’ Rights Bill continues to progress

Would you benefit from a top up contribution to your State Pension?

How do you make sure data cannot be recovered from storage media?

Charity Commission warns charities about fraud prevention

Boost in funding for flood defences

Rises to national minimum wage confirmed

Duty changes for the alcohol industry

Data Protection Day at the ICO: Focus on AI

Is cash still king?

Deposit return scheme to launch in October 2027

HMRC’s phone service criticised … again

Showcasing export excellence: Enter the Made in the UK, Sold to the World Awards

New scheme administrator unveiled to help reduce packaging usage