News

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.

From 8 April 2025, Companies House has launched a new identity verification system as part of changes under the Economic Crime and Corporate Transparency Act 2023.

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.

The UK Government is currently considering its response to the ‘reciprocal tariffs’ announced by the US President Donald Trump on 2 April.

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.

The Chancellor of the Exchequer, Rachel Reeves, delivered her Spring Statement last week in which she outlined the government’s economic plans, including spending decisions, tax policies and efforts to boost growth while managing public finances.

As part of the changes being gradually introduced by the Economic Crime and Corporate Transparency Act (ECCT), identity verification is set to become a Companies House requirement.

The Bank of England held its regular meeting to discuss interest rates last Thursday.