Following the Spring Statement delivered on 26 March 2025, British businesses are now facing heightened examination of their tax submissions.

UK manufacturing and engineering sectors have consistently led the way in innovation whilst operating within highly competitive marketplaces. To maintain competitive advantage in these industries, companies must develop sophisticated processes, groundbreaking products and specialised equipment. These essential developments involve considerable investment and risk, making Research and Development (R&D) expenditure necessary for continued success.

With Employer National Insurance Contributions (NICs) increasing in April 2025, businesses across the UK are concerned about the substantial financial impact these changes will bring.

Whilst most business owners recognise that capital allowances offer tax relief on plant and machinery, it's less commonly known that 'Plant and Machinery' lacks a statutory definition.

In July 2024, Chancellor Rachel Reeves signalled a transformative approach to governmental financial communications, committing to a more focused strategy with a single comprehensive budget-type event annually. The 2025 Spring Statement embodied this new vision, departing from the conventional Treasury ritual of the iconic red box presentation and sweeping tax declarations.

Employee-owned businesses are transforming the UK corporate landscape, with Employee Ownership Trusts (EOTs) emerging as a revolutionary succession planning tool. Since their inception a little over a decade ago, this model has evolved from an alternative ownership structure to a mainstream business strategy, adopted by organisations ranging from local enterprises to major corporations.

UK businesses must navigate various thresholds that impact their regulatory compliance, reporting requirements, and access to different business schemes and incentives. However, over the years these thresholds have become increasingly complex and difficult to navigate. To simplify things, the government will introduce new legislation to help reduce the reporting burden, which will be in place from April 2025.

The framework for Business Relief (BR) is set for its most substantial overhaul in decades. Beginning in April 2026, revised regulations will alter how business assets are protected from inheritance tax, making this a key moment to evaluate your current strategies and safeguard your legacy.

Upcoming changes to National Insurance Contributions and National Minimum Wage are likely to have a big impact on businesses in 2025.