UK weather maps show the exact 3 consecutive days snow is forecast in October   The latest weather forecast shows that the UK is set to experience a cold snap and snowfall in October, with some areas possibly seeing snowfall of up to 2 cm per hour. According to the UK Met Office’s long-range forecast for October 21 to October 30, the country will face “unsettled weather,” including continuous rain, showers, and occasional strong winds. As high pressure builds over the Atlantic and a low-pressure system develops to the east of the UK, northern regions are expected to experience colder and more showery weather. Based on the latest weather charts from WX Charts, rain will cover most of the UK this week. Starting Sunday, October 26, snow is expected to first blanket Inverness and the Scottish Highlands, with snowfall rates possibly reaching 0.x cm per hour, continuing until 6 p.m. that evening. After a short break, snowfall is forecast to return at 6 a.m. on October 27 and last until the morning of October 28, after which temperatures will temporarily rise again. In terms of temperature, WX Charts predicts that on October 27, temperatures across much of the UK will drop to single digits, with some parts of Scotland falling to between 0°C and -1°C. Additionally, at 2 a.m. on Sunday, October 26, the UK will turn clocks back one hour, officially shifting from British Summer Time (BST) to Greenwich Mean Time (GMT) — signaling the official arrival of winter. Most smartphones, digital devices, and modern cars will automatically update the time. Daylight Saving Time (DST) has been in use for over a century. Its purpose is to make better use of evening daylight and reduce energy consumption for lighting and heating. Different countries switch on different dates — for example, the United States will revert to standard time on November 2, while Egypt will do so on October 30. Read more... Nearly 500 companies have been fined by the government for failing to pay employees the legally mandated minimum wage   The UK Department for Business and Trade recently released the results of its latest investigation, revealing that nearly 500 companies failed to pay employees the legal minimum wage and have been fined a total of £10.2 million. Among the 491 companies named were major firms such as Centrica, the parent company of British Gas; health retail chain Holland & Barrett; and EG Group, co-founded by billionaire Issa Brothers. According to the department, these companies failed over the years to pay about 42,000 workers the statutory National Minimum Wage or National Living Wage. All affected employees have since been fully compensated. Based on the government’s investigation covering the period from 2018 to 2023, EG Group was the worst offender, underpaying 3,317 employees a total of £824,000—an average shortfall of around £250 per worker. Centrica, the parent company of British Gas, failed to pay £167,800 in wages to 356 employees, with an average shortfall of about £460 per person. As of the end of March this year, the UK National Living Wage stood at £11.44 per hour and was raised to £12.21 from April. The minimum wage for employees aged 18 to 20 increased to £10 per hour, while apprentices and workers under 18 now earn £7.55 per hour. UK Business Secretary Peter Kyle stated: “Every worker deserves fair pay. The government will not tolerate employers who underpay their staff. Our Plan to Make Work Pay  will continue to hold rule-breaking companies accountable.” The Department for Business and Trade had previously released another list in June, naming more than 500 companies that underpaid staff between 2015 and 2022 — including Pizza Express, Lidl, and British Airways.   Read More... Rachel Reeves plots £1bn cut to Motability scheme   According to British media reports, Chancellor Rachel Reeves is planning to cut tax exemptions for the Motability Scheme—a program that provides vehicles for people with disabilities—in the November budget. The proposed cuts would remove VAT (Value Added Tax) and Insurance Premium Tax exemptions, potentially saving the Treasury around £1 billion per year. In addition, luxury car brands such as Mercedes and BMW may be removed from the scheme. Currently, the scheme provides leased vehicles to about 815,000 people who receive mobility allowances (mainly through Personal Independence Payment, or PIP), including around 40,000 luxury cars. Beneficiaries can use part of their welfare payments to lease these vehicles. Disability rights organizations have strongly opposed the proposal. Transport for All, a disability transport advocacy group, stated: “Public transport in the UK is often inaccessible for disabled people—broken pavements, missing bus routes. This scheme enables us to work, shop, and take our children to school. Cutting it is taking away our freedom and placing additional financial pressure on disabled people across the country.” The policy has already faced widespread criticism. Conservative MP Kemi Badenoch accused some people of exploiting the system by teaching others on social media how to “game” the scheme to get free cars. Shadow Work and Pensions Secretary Helen Whately also commented: “Millions are claiming benefits by saying they suffer from anxiety or ADHD and are getting free cars. On TikTok, people are even selling ‘VIP services’ to help others increase their chances of approval.” The Institute for Fiscal Studies (IFS) has previously warned that Reeves must find at least £22 billion in the autumn budget, either through tax rises or spending cuts, to avoid a repeat of the “cycle of fiscal crises.” In response, a Treasury spokesperson said: “We do not comment on speculation about tax policy before the Budget.”   Read More... Why TB Accountants? Professional Assurance : Our team includes ACA members and ACCA-certified professionals, delivering services to the highest industry standards. Responsive Service : We respond to your inquiries within 24 hours, ensuring efficient communication across time zones. Multilingual Support : Services available in English, Mandarin, Cantonese, Japanese, French, German, Spanish, Italian, Turkish, and more. Trusted by Clients Worldwide : Consistently praised by global clients for proactive, professional, and reliable accounting and tax support. For individuals and businesses looking for UK taxation services, use our contact form  to get in touch for more information. Get in touch with us at info@tbagroup.uk or for a free one-to-one consultation.  This article is intended as general guidance only, and does not replace any legal or professional advice.  For enquiries, please contact  TBA Group  via  email  or  WhatsApp .

Since April this year, multiple tax increases in the UK have not only added pressure on businesses but also made the cost-of-living challenge for households more severe—water, electricity, and energy bills have all gone up. From October 1, Ofgem has updated the energy price cap, increasing the average annual household bill by £35.14 to £1,755.14 (up from the £1,720 rate effective since July).  With winter bringing higher demand for heating and electricity, the pressure on bills becomes even greater.  So, do you know what support schemes and free assistance you may be entitled to?  In fact, the total value of benefits and subsidies could save households up to £19,325! 1. Household Support Fund – £500 The Household Support Fund (HSF) is backed by £742 million of government funding distributed via local councils, who provide aid to eligible households. Support may include: White goods subsidies Supermarket shopping vouchers Cash grants for energy bills Some families have previously received as much as £500 towards electricity costs. Eligibility varies by local authority, but low-income families or those already receiving benefits are typically eligible. Keep an eye on your local council’s website or social media for application updates. 2. Warm Home Discount – £150  The Warm Home Discount provides a £150 reduction on electricity bills for eligible households, applied directly to bills by suppliers rather than paid in cash. Generally, if you receive Pension Credit (guarantee element) or are on a low income with high energy costs, you’ll qualify automatically—no need to apply. 3. Cold Weather Payments – £25+ The Cold Weather Payments scheme gives eligible households £25 for every 7-day period where the temperature is below zero degrees Celsius. This applies to people receiving Universal Credit, Pension Credit, or Support for Mortgage Interest. No separate application is required—the money will be paid automatically into eligible accounts within 14 days. 4. Energy supplier support schemes Many energy providers also run their own hardship funds and assistance schemes. For example, British Gas offers the ‘You Pay: We Pay’ initiative, matching customer payments proportionally over six months.  EDF has a Customer Support Fund to help cover white goods or clear arrears. Octopus Energy, Scottish Power, Utilita, and Utility Warehouse also run similar programmes.  Always check directly with your supplier to see what’s available. 5. Free solar panels and heat pump insulation The Energy Company Obligation (ECO) is a government scheme designed to improve energy efficiency and tackle fuel poverty. Eligible households can receive free installations such as: Solar panels (average installation cost ~£6,100) Heat pumps (average installation cost ~£4,400) Octopus Energy, for example, is offering up to 1,000 households completely free solar panel and heat pump installations. If you qualify for both, you could save up to £10,500. 6. Free boiler and heat pump installation Through the Boiler Upgrade Scheme, eligible households can receive up to £7,500 towards heat pump installations. Heat pumps are eco-friendly and can save between £100 and £350 per year on energy bills. Start by contacting an MCS-certified installer for a quote, then apply for the grant. You can find accredited installers at msccertified.com . Don’t miss out on tax refunds! While many subsidies are applied automatically, a lot of people miss out on tax reliefs they’re entitled to, leading to overpayment. These include: tax-free childcare, the Marriage Allowance, the Rent-a-Room Scheme, and deductions for the self-employed. Some advice from TB Accountants  With rising energy costs, winter bills will inevitably be a burden.  However, by taking advantage of these subsidies and support measures, households can not only reduce short-term financial strain but also achieve long-term savings through energy efficiency improvements. We recommend proactive budgeting to avoid unnecessary expenses.  This includes planning ahead for rent or mortgage payments, utilities, council tax, and credit card repayments. If you have savings, regularly review your interest rates to ensure you’re getting the best returns.     Why TB Accountants? Professional Assurance : Our team includes ACA members and ACCA-certified professionals, delivering services to the highest industry standards. Responsive Service : We respond to your inquiries within 24 hours, ensuring efficient communication across time zones. Multilingual Support : Services available in English, Mandarin, Cantonese, Japanese, French, German, Spanish, Italian, Turkish, and more. Trusted by Clients Worldwide : Consistently praised by global clients for proactive, professional, and reliable accounting and tax support. For individuals and businesses looking for UK taxation services, use our contact form  to get in touch for more information. Get in touch with us at info@tbagroup.uk  or for a free one-to-one consultation.  This article is intended as general guidance only, and does not replace any legal or professional advice.  For enquiries, please contact  TBA Group  via  email  or  WhatsApp .

In 2025, global population growth has entered a new stage of observation – many countries are seeing a marked decline in fertility rates, and the world is stepping into a ‘low fertility era’.  As the demographic dividend gradually fades, numerous countries are now introducing new policies to encourage childbirth. Global fertility rates continue to decline According to the latest analysis from Pew Research, the global average total fertility rate (TFR) has fallen from about 5.8 in 1950 to 2.24 in 2025, meaning women give birth to an average of 2.24 children. By 2050, this figure is expected to drop below 2.1, which would lead to population growth stagnating or even turning negative. In North America, Europe, and other developed regions, fertility rates remain persistently low. South Korea has seen a slight rebound to 0.75, yet it remains the lowest in the world. A United Nations Population Fund survey shows the main reasons why people of childbearing age choose not to have children include: Economic pressure: 39% Housing pressure: 19% Work-related stress: 21% In other words, the issue is not only not wanting to have more children, but also ‘wanting to but not being able to afford it’ or ‘wanting to raise them, but lacking the right conditions’.  This highlights that low fertility rates are not just a matter of population policy, but also reflect wider social structures. Compare and contrast - childbirth incentive policies in China vs the UK  China: Direct Child-Rearing Subsidies From 1 January 2025, families legally eligible to give birth, with children under the age of three, can receive an annual allowance of CNY 3,600 per child for up to three years, totalling CNY 10,800. This policy covers not only babies born after 2025 but also children born earlier who are still under three, with payments calculated on a pro-rata basis. It is expected to benefit over 20 million families, who will receive this ‘child-rearing red packet’. United Kingdom: Plans to Scrap the Two-Child Benefit Cap To boost fertility rates, the UK set up an independent commission three years ago, which ultimately proposed scrapping the two-child benefit cap in order to reduce poverty and improve life chances for the poorest children. The cap, introduced in 2017, means that families claiming Universal Credit do not receive the annual benefit of around £3,500 for a third or subsequent child. Although Labour backbenchers and anti-poverty campaigners widely opposed the cap, the government at the time repeatedly argued that the financial burden – estimated at about £3 billion a year – was too high to justify removing it. Despite continuing controversy, Britain’s system of family benefits still ranks at a medium-to-high level globally.  Unlike China’s direct subsidies, the UK has designed a package of measures that aim to provide layered and targeted support, including:  Maternity Leave and Pay Up to 52 weeks’ maternity leave, with 39 weeks paid. The first 6 weeks are at 90% of the mother’s average earnings, followed by 33 weeks at either £187.18 per week or 90% of earnings, whichever is lower. Those not meeting eligibility for statutory maternity pay may claim Maternity Allowance, ranging from £27 to £187.18 per week. Child Benefit £26.05 per week for the first child, £17.25 for each subsequent child, paid directly into the household account (subject to income and personal circumstances). One-Off Maternity Grant Families with newborns can apply for a £500 Sure Start Maternity Grant (in Scotland, the equivalent is the Best Start Grant). Parental and Neonatal Leave Fathers and partners receive two weeks of paid paternity leave. Parents can also share leave through shared parental leave.  From 6 April 2025, if a baby requires neonatal intensive care, parents will be entitled to up to 12 weeks’ paid leave, available from the first day of employment. Childcare and Support Services Eligible working parents with children aged nine months and above can access a set number of free childcare/early education hours per week. Low-income families may also qualify for extra childcare support and vouchers. Broader Demographic Concerns No matter how governments expand benefits, it seems increasingly difficult to change the modern trend choosing not to have children.  Falling fertility rates, combined with longer lifespans, mean each working-age person faces a heavier financial burden in supporting retirees.     Why TB Accountants? Professional Assurance : Our team includes ACA members and ACCA-certified professionals, delivering services to the highest industry standards. Responsive Service : We respond to your inquiries within 24 hours, ensuring efficient communication across time zones. Multilingual Support : Services available in English, Mandarin, Cantonese, Japanese, French, German, Spanish, Italian, Turkish, and more. Trusted by Clients Worldwide : Consistently praised by global clients for proactive, professional, and reliable accounting and tax support. For individuals and businesses looking for UK taxation services, use our contact form  to get in touch for more information. Get in touch with us at info@tbagroup.uk  or for a free one-to-one consultation.  This article is intended as general guidance only, and does not replace any legal or professional advice.  For enquiries, please contact  TBA Group  via  email  or  WhatsApp .

Conservatives pledge £5,000 tax rebate for young home buyers   As part of its new “Reward Work” initiative announced last week, the Conservative Party has pledged to offer a £5,000 home-buying tax rebate to young people when they secure their first full-time job. The proposal also includes allowing National Insurance contributions to be redirected into long-term savings accounts. In addition, the plan seeks to block individuals with “mild mental health conditions” from claiming benefits, and to reduce the civil service workforce by approximately 132,000, returning it to 2016 levels — a target first set under Boris Johnson’s government. Speaking at the Conservative Party Conference in Manchester, Shadow Chancellor Mel Stride stated that funding for these policies would come from £47 billion in public spending cuts over five years, targeting welfare, the civil service, and foreign aid budgets. The breakdown is as follows: £23 billion from welfare reforms; £8 billion from reducing the civil service from 517,000 to 384,000 employees (back to 2016 levels); £7 billion from cuts to overseas aid; £3.5 billion from ending hotel accommodation for asylum seekers; £4 billion from restricting welfare and social housing to British citizens only; £1.6 billion from scrapping environmental subsidies, including grants for heat pumps and electric vehicles. The Conservatives also promised that, if they win the next general election, they will abolish business rates for high street shops and pubs, a measure expected to cost £4 billion per year and benefit around 250,000 small businesses. The Institute of Economic Affairs (IEA) welcomed parts of the plan but warned the party not to ignore the “obvious” challenge of age-related spending, such as pensions. IEA Executive Director Tom Clougherty noted: “Ultimately, no political party can balance the books solely by cutting the spending its supporters dislike.” In response to the Labour government’s proposed property market reforms — which would legally require sellers and estate agents to provide more upfront property information to reduce moving costs — the Conservatives argued that Labour ministers are merely “pulling quick levers for quick savings”, while their party is focused on “fundamental reform.” Read more... The EU’s new border rolls out, will replace passport stamping at border control   Starting October 12, the European Union officially launched its new Entry-Exit System (EES), aimed at fully digitising border management. The system covers all border points across the Schengen Area — including all EU member states except Ireland and Cyprus, as well as Norway, Iceland, Switzerland, and Liechtenstein. This means that UK passport holders and other non-EU travellers entering the Schengen Zone will now have their biometric data (fingerprints and facial images) recorded, replacing the traditional passport stamping process. The EES digitally logs travellers’ entry and exit information. First-time visitors from third countries (non-EU nations) must register their passport details, fingerprints, and facial photo at a self-service terminal at the border. These records will be securely stored for future border checks. On subsequent trips, travellers can pass through more quickly using biometric verification. Border officers may still request proof of accommodation, travel funds, insurance, and return tickets. Children will also be checked, but those under 12 years old are exempt from fingerprint collection and only undergo facial scanning. In the UK, the EES will apply to Port of Dover, St Pancras International, and Folkestone, where passengers must complete registration before departure. Once cleared, travellers will not need further checks upon arrival in mainland Europe. The system will be rolled out in stages from October 12, 2025, and is expected to fully cover all external borders by April 10, 2026. In total, the EES will apply to 25 EU and Schengen countries, including Spain, France, Germany, Italy, the Netherlands, Belgium, Portugal, Switzerland, Norway, Iceland, and Liechtenstein. Ireland and Cyprus will continue using traditional passport stamping. Each Schengen country may decide how and when to deploy the system. So far, Sweden and Hungary have confirmed participation. Originally scheduled for an earlier launch, the system was delayed last year amid concerns it could disrupt passenger flows and logistics. Following a year of testing and adjustments, the EU has now confirmed full implementation. It’s worth noting that EES is separate from the European Travel Information and Authorisation System (ETIAS), which will take effect by the end of 2026. EES is a border registration system, ETIAS is an entry authorisation system. Once ETIAS launches, non-EU and non-Schengen travellers (including Britons) will need to apply online for travel authorisation before entering the EU.   Read More... Brits opt for mobile phone payments as cash usage declines   According to the latest UK Finance “UK Payment Markets 2025” report, the use of cash in Britain fell below 10% of all transactions for the first time in 2024 — a historic low. Meanwhile, half of all UK adults now use mobile devices for contactless payments, marking a major shift toward a cashless society. The report highlights that Britons are increasingly relying on phones and smartwatches to manage finances and make daily purchases. Last year, 57% of UK adults were registered for a mobile wallet (such as Apple Pay or Google Pay), up sharply from 42% in 2023. Half of these users made at least one mobile contactless payment per month — the first time such a large share has used mobile payments regularly. Around 30% of UK adults now live a “mostly cashless life”, using cash no more than once a month. Approximately 16.9 million people met this standard last year, while just 1.2 million remain primarily cash-dependent. By age group: Among those 65 and over, 19% rarely use cash. Among 16–24-year-olds, that figure rises to 40%. Income also affects payment behaviour: 46% of people earning £65,000 or more use little or no cash; Only 22% of those earning under £20,000 do the same. Cards — physical or mobile — remain the dominant payment method, accounting for 64% of all transactions. 62% of debit card and 55% of credit card payments are contactless. The Buy Now, Pay Later (BNPL) sector is also expanding rapidly: one in four UK adults used BNPL services in 2024, up from 14% the previous year. UK Finance forecasts that by 2034, card payments will still dominate (around 67% of all payments), while mobile wallets will continue to grow and reach broader age groups. Emerging payment technologies — such as Pay by Bank, which allows consumers to pay merchants directly from current accounts — are expected to become more common, further reducing reliance on traditional cards.   Read More... Why TB Accountants? Professional Assurance : Our team includes ACA members and ACCA-certified professionals, delivering services to the highest industry standards. Responsive Service : We respond to your inquiries within 24 hours, ensuring efficient communication across time zones. Multilingual Support : Services available in English, Mandarin, Cantonese, Japanese, French, German, Spanish, Italian, Turkish, and more. Trusted by Clients Worldwide : Consistently praised by global clients for proactive, professional, and reliable accounting and tax support. For individuals and businesses looking for UK taxation services, use our contact form  to get in touch for more information. Get in touch with us at info@tbagroup.uk or for a free one-to-one consultation.  This article is intended as general guidance only, and does not replace any legal or professional advice.  For enquiries, please contact  TBA Group  via  email  or  WhatsApp .

In recent years, immigration to the UK has reached record highs.  Home Office data shows that in 2023 net migration exceeded 740,000, the highest in history. From the Conservatives raising the salary threshold for work visas, to Labour proposing a ten-year route to permanent residency, tougher immigration policy has become a rare point of cross-party consensus. The Reform UK party went further: if it wins the next general election, it would abolish the right of work visa holders to secure indefinite leave to remain (ILR) after five years. The announcement has sparked fierce debate. Reform UK: abolishing ILR and cutting benefits At the party’s conference, its leader Nigel Farage announced that if Reform UK wins the next election, it will end the current route to permanent residency after five years on a work visa. Instead, migrants would need to apply for a new, more restrictive visa. The plan would introduce a renewable five-year work visa to replace ILR, alongside further restrictions: Higher salary thresholds and tougher English language requirements Stricter rules for bringing dependants such as spouses and children Withdrawal of access to welfare benefits for permanent residents Although the party claims the policy would save £234 billion over several decades, critics from across the political spectrum, think tanks and industry groups have condemned it as excessively radical. Chancellor Rachel Reeves dismissed the proposal, saying the savings figures had ‘no basis in reality’. Labour, however, is already considering tighter restrictions on migrants’ access to benefits. Think tanks have also highlighted major flaws in Reform UK’s figures. The Centre for Policy Studies (CPS), the original source of the savings claim, has since rejected the number and advised against its use. Reform UK leads in the polls The controversy has attracted particular attention because Reform UK has enjoyed a sharp rise in support. Farage claimed in 2024 that party membership had reached 135,000, surpassing the Conservatives’ 131,860, making Reform UK ‘Britain’s second largest party’. Although the Conservatives have disputed these figures, Reform UK’s momentum is undeniable. A February 2025 poll showed the party on 25% support, ahead of Labour on 24% and the Conservatives on 21%. On leader favourability, Farage’s net rating of -27 also outperformed Kemi Badenoch (-29) and Prime Minister Keir Starmer (-36).   Polling by YouGov shows Reform UK maintaining a lead in several voting intention trackers for months, with its relentless focus on immigration boosting its dominance of the debate. But high polling numbers do not automatically translate into trust in government. Another YouGov survey found that despite the surge, only about one in four respondents believe Reform UK could ‘govern the country well’. The ILR proposal, seen as radical and lacking evidence, has become fresh ammunition for critics questioning the party’s competence and moral foundations.   Broader debate on immigration and society Britain’s ‘immigration wave’ presents a dual reality. On one hand, the rise in arrivals has heightened pressures on housing, welfare and schools, fuelling anxiety in smaller towns and amplifying cultural tensions. On the other hand, sectors such as healthcare, education, construction and hospitality remain heavily reliant on migrant workers. A sudden tightening of immigration could create labour shortages and service gaps.   Immigration policy is also deeply tied to public finances. Research consistently shows that high-skilled, long-term migrants make significant contributions to the UK Treasury. Restrictive policies that curtail or strip away legal rights risk undermining trust in belonging, driving skilled workers away or discouraging participation in the labour market. This could cut output, reduce tax revenue, and damage higher education and the UK’s global competitiveness in talent recruitment. Immigration at the heart of future elections The next UK general election is expected in 2029, and immigration will remain a central battleground. Reform UK, the Conservatives and Labour each reflect public demand for ‘border control’, while also exposing tensions between economic needs and demographic reality. Fiscal pressures will only intensify the debate. Analysts widely expect the Treasury to announce tax rises in November’s Autumn Statement to address public service funding gaps and mounting debt. That could trigger backlash from the middle class and businesses, sharpening questions over whether immigration adds to taxpayers’ burdens.     Why TB Accountants? Professional Assurance : Our team includes ACA members and ACCA-certified professionals, delivering services to the highest industry standards. Responsive Service : We respond to your inquiries within 24 hours, ensuring efficient communication across time zones. Multilingual Support : Services available in English, Mandarin, Cantonese, Japanese, French, German, Spanish, Italian, Turkish, and more. Trusted by Clients Worldwide : Consistently praised by global clients for proactive, professional, and reliable accounting and tax support. For individuals and businesses looking for UK taxation services, use our contact form  to get in touch for more information. Get in touch with us at info@tbagroup.uk  or for a free one-to-one consultation.  This article is intended as general guidance only, and does not replace any legal or professional advice.  For enquiries, please contact  TBA Group  via  email  or  WhatsApp .

The UK Chancellor, Rachel Reeves, has confirmed that the next Autumn Statement will be delivered on 26 November.  It is expected to include a series of potential tax adjustments and fiscal reforms. Given that inflation has remained high in recent months and the UK economy has shown weak data, many analysts believe Reeves may avoid raising taxes directly on ‘working people’, such as VAT, income tax, and National Insurance contributions.  Instead, the government may target bank and property taxes, indirectly affecting individuals and businesses. According to sources, the Treasury is considering a new tax on properties worth more than £500,000, which could be formally announced in the Autumn Statement. Treasury considers proportional property tax At present, stamp duty is payable on any property purchase above £125,000. First-time buyers enjoy a relief, with the threshold raised to £300,000. However, this relief does not apply to homes over £500,000, where buyers must pay the standard rates. It is understood that the Treasury is exploring a ‘proportional property tax’, aimed at owner-occupied homes sold for more than £500,000. The tax would be linked to the property’s value and collected directly by HMRC. Key points under consideration include: The tax would not replace stamp duty on second homes It would be payable when the owner sells the property In the medium to long term, it could gradually replace stamp duty, and potentially even Council Tax If approved, the measures could be introduced during the current Parliament. Current stamp duty rules Stamp duty land tax (SDLT) is payable by buyers when purchasing property in the UK. For a main residence, the basic rates apply (with a first-time buyer relief threshold of £300,000). For second homes, individuals and companies must pay an additional 5% surcharge on top of the standard SDLT rates. In addition, companies buying residential properties worth more than £500,000 (not for genuine property business purposes) face a higher SDLT rate of 17%. In other words, even if the proposed ‘proportional property tax’ is not introduced, buyers could still see higher bills due to existing surcharges. Buying property through a company With property tax costs rising in recent years, some buyers have turned to company structures—such as special purpose vehicle (SPV) companies—to purchase property, particularly for buy-to-let purposes. This practice is often referred to as ‘incorporation’.   But does buying through a company really save tax? The rules are clear: all company purchases attract a 3% SDLT surcharge on top of the standard rate, regardless of whether the property is the company’s first. This applies equally to SPVs, which exist solely to hold property. Moreover, SPV-owned residential properties worth over £500,000 may be subject to the Annual Tax on Enveloped Dwellings (ATED).   That said, there are circumstances where reliefs may apply: Multiple Dwellings Relief (MDR): where multiple units (e.g. flats, HMOs) are purchased together, the tax may be calculated on the average unit price, reducing the overall bill Mixed-use Properties: if part of the property is used commercially (e.g. a shop with a flat above), the lower non-residential rates may apply, and the 3% surcharge avoided Development or rental exemptions: developers, landlords, or certain categories such as farmhouses may qualify for reduced or exempt SDLT Market outlook Besides from the details of stamp duty and potential new taxes, it is also vital to keep an eye on the wider UK property market. According to data from Nationwide, by August 2025 the annual rate of house price growth had slowed to 2.1%. Compared with July, average house prices fell slightly by 0.1%, standing at £271,079. Although growth has cooled, prices remain historically high, leaving affordability pressures unchanged. Against this backdrop, property tax reform could become a key step for the Treasury in tackling both housing affordability and the strain on local government finances.     Why TB Accountants? Professional Assurance : Our team includes ACA members and ACCA-certified professionals, delivering services to the highest industry standards. Responsive Service : We respond to your inquiries within 24 hours, ensuring efficient communication across time zones. Multilingual Support : Services available in English, Mandarin, Cantonese, Japanese, French, German, Spanish, Italian, Turkish, and more. Trusted by Clients Worldwide : Consistently praised by global clients for proactive, professional, and reliable accounting and tax support. For individuals and businesses looking for UK taxation services, use our contact form  to get in touch for more information. Get in touch with us at info@tbagroup.uk  or for a free one-to-one consultation.  This article is intended as general guidance only, and does not replace any legal or professional advice.  For enquiries, please contact  TBA Group  via  email  or  WhatsApp .

HMRC urges 758,000 adults to check if they have unclaimed child trust fund worth thousands   The UK tax authority, HMRC, recently reminded the public that around 758,000 young adults may not yet have claimed their Child Trust Fund (CTF), with an average balance of about £2,240.   The Child Trust Fund is a long-term, tax-free savings account set up by the government for children born between 1 September 2002 and 2 January 2011. The government initially deposited £250 into each account, with an additional £250 for children from low-income families or those in government care. At age 16, the child can take control of the account, and after turning 18, they can withdraw the funds. Over time, most accounts have grown significantly due to accumulated interest.   Currently, many young people or their guardians have forgotten about these accounts. HMRC Deputy Chief Executive Angela MacDonald said: “If you’re aged between 18 and 23, you should go to gov.uk and search for ‘find my child trust fund’ to check whether you have a ‘hidden savings pot’ waiting for you.”   HMRC also warned against using paid third-party services, as some have charged as much as £350 or up to 25% of the account’s value for assistance in locating these funds.   Experts recommend that once the funds are received, young adults can either transfer them into an Adult ISA to continue saving or withdraw them for immediate use. If the money is transferred into an Adult ISA, the matured amount will not count toward the £20,000 annual ISA contribution limit.   The Child Trust Fund was launched in 2005 by the Labour government but was discontinued in 2011 by the Conservative government and replaced by the Junior ISA. Unlike the Child Trust Fund, the Junior ISA does not include government contributions. Read more... Starmer's Labour conference speech focuses on immigration policy and education reform   UK Prime Minister and Labour leader Keir Starmer delivered a keynote speech at last week’s Labour Party Conference in Liverpool, responding to the rising popularity of Reform UK and its radical proposal to abolish permanent residency. He called for unity within the party and set out his vision for the country, with immigration policy and education reform emerging as key issues.   Strong Response to Reform UK   The central theme of the Labour Party Conference was confronting Reform UK, which is currently leading in national polls. In his speech, Starmer stressed that the country faces a choice between “renewal or decline.” He singled out Reform UK leader Nigel Farage, accusing him of never saying anything positive about Britain: “He doesn’t like Britain, and he doesn’t believe in Britain.” By contrast, the traditional rival Conservative Party was barely mentioned. Starmer even joked, “The Conservatives — do you remember them?” prompting laughter from the audience.   Renewed Focus on Tighter Immigration Policies   Although opposing Reform UK’s proposal to abolish permanent residency, the Labour Party has not softened its stance on tightening immigration. The plan to maintain the ten-year route to permanent residency remains unchanged. In addition, the Home Secretary recently stated that future permanent residency applications may include new criteria assessing social contributions, such as community volunteering. However, a fast-track route will be offered to highly skilled individuals or those who have made outstanding contributions. These potential tightening measures — still under discussion — have caused unease within the Labour Party. Starmer acknowledged these internal divisions but emphasized that the government must make decisions that are “not necessarily comfortable for everyone.”   Apprenticeships and Education Reform   On education, Starmer announced the end of the current goal for “50% of young people to attend university.” Instead, the new target is for “two-thirds of young people to either attend university or take part in ‘gold standard’ apprenticeships.” He also pledged investment in new technical colleges and skills training programs.   Autumn Budget and Tax Debate   The Treasury is set to announce the Autumn Budget on November 26. Economists warn that a combination of reversed welfare policies, rising borrowing costs, and downgraded productivity forecasts from the Office for Budget Responsibility (OBR) could leave the UK facing a £30 billion gap under current fiscal rules. Reflecting on the £40 billion tax increases in the previous budget, Starmer said that “tough decisions will continue,” confirming the likelihood of further tax rises.   Read More... Packaging tax will push up prices for consumers, food inflation may rise another 0.5%   Starting in 2025, the UK government will officially implement the Extended Producer Responsibility (EPR) system, also known as the packaging tax, which requires companies that produce or import packaging to bear the costs of collecting and processing packaging waste.   The British Retail Consortium (BRC) has warned that this new system could push up retail prices, leading to further increases in food costs and adding pressure on consumers.   According to a BRC survey of major retailers, more than 80% of the new tax costs are expected to be passed on to consumers. The new regulation requires businesses to submit up-to-date data on their packaging use by October 1, which is expected to impose significant financial pressure on both the retail sector and households.   The BRC pointed out that in last year’s budget, retailers already faced an additional £5 billion in labour costs due to higher National Insurance contributions and increases in the minimum wage. The introduction of the EPR packaging tax will further raise industry expenses. The Bank of England estimates that this policy alone could increase food inflation by 0.5%.   Beyond financial costs, 85% of retailers reported that the new tax has significantly increased administrative and compliance burdens, as companies must report the types and quantities of packaging materials they use. The tax applies to all businesses that produce and place packaging on the market which is ultimately discarded by households, with fees calculated based on the material type and amount of packaging used.   Encirc, one of the UK’s largest glass bottle manufacturers, criticized the policy as “a case of shooting oneself in the foot.” Because the tax is linked to packaging weight, glass bottles for alcoholic beverages are among the most affected: the price of a standard bottle of wine is expected to rise by 9 pence, a 330ml beer bottle by around 4 pence, and a spirit bottle by 11 pence.   The goal of the EPR system is to encourage businesses to reduce unnecessary packaging, increase recyclable design, and phase out materials that are difficult to recycle, thereby ultimately lowering costs for consumers.   Read More... Why TB Accountants? Professional Assurance : Our team includes ACA members and ACCA-certified professionals, delivering services to the highest industry standards. Responsive Service : We respond to your inquiries within 24 hours, ensuring efficient communication across time zones. Multilingual Support : Services available in English, Mandarin, Cantonese, Japanese, French, German, Spanish, Italian, Turkish, and more. Trusted by Clients Worldwide : Consistently praised by global clients for proactive, professional, and reliable accounting and tax support. For individuals and businesses looking for UK taxation services, use our contact form  to get in touch for more information. Get in touch with us at info@tbagroup.uk or for a free one-to-one consultation.  This article is intended as general guidance only, and does not replace any legal or professional advice.  For enquiries, please contact  TBA Group  via  email  or  WhatsApp .

Do you know which supermarket is the cheapest in the UK? Aldi has once again been named the cheapest UK supermarket for a standard basket of groceries.  However, according to the latest survey by consumer group Which?, Lidl briefly overtook Aldi last month, claiming the top spot as the UK’s cheapest supermarket for the first time since 2023. However, the lead didn’t last long. Aldi quickly reclaimed its position as the cheapest supermarket, pushing Lidl back into second place. Updated rankings 1. Aldi Key feature: The undisputed price champion Aldi has consistently topped the cheapest supermarket charts, focusing on own-brand goods and streamlined operations to keep costs down. It’s the go-to place for fresh produce and everyday essentials. 2. Lidl Key feature: Aldi’s toughest competitor, known for its bakery Lidl operates a similar discount model, with prices very close to Aldi’s. Its in-store bakery (bread, pastries, cakes) and weekly “middle aisle” specials are standout features. 3. Asda Key feature: Best value among the big supermarket chains Within the traditional ‘big four’ supermarket chains, Asda is the cheapest. It offers a much wider range than discount supermarkets, stocking both own-brand and major branded products, making it ideal for one-stop bulk shopping. 4. Tesco Key feature: The most convenient supermarket, with loyalty cards at its core Tesco has the largest store network, making it the easiest to access. Its Clubcard prices are key to savings—without a card, Tesco can be noticeably more expensive than discount rivals. 5. Sainsbury’s Key feature: A balance between quality and cost Often seen as offering slightly better quality and shopping experience than Asda and Tesco, though at slightly higher prices. Its own-brand range, particularly desserts, has a strong reputation. Behind the cheapest supermarket rankings Which? compared the prices of 75 popular items, including both branded and own-brand products, covering essentials like milk and bread as well as household goods. In August 2025, Aldi’s basket averaged £127.92, the cheapest of all supermarkets surveyed. Waitrose was once again the most expensive, with the same basket costing £172.61—that’s 35% more than Aldi. This means shoppers could save over £40 on the same basket simply by choosing Aldi instead of Waitrose. What about larger or branded shops? While Aldi and Lidl are unbeatable for smaller baskets of everyday essentials, things change when it comes to larger shops or branded products. Which? also analysed the cost of 190 items, including big-name brands that discount stores don’t always stock. Aldi and Lidl were excluded from this part of the survey. The results were revealing: Asda was the cheapest for the eighth month running, at £474.86. Tesco (with Clubcard savings) followed at £485.89. Waitrose was the most expensive again, at £548.14—around 15% more than Asda. For a family doing a weekly shop, the annual difference between Aldi and Waitrose could exceed £1,700. So, while Aldi and Lidl dominate for basic groceries, those who need more branded items may still find better value at Asda or Tesco—especially if they use loyalty discounts. Shopping smart Choosing a supermarket isn’t just about headline prices—here are some tricks to save even more: Mix and match: Buy everyday basics from Aldi or Lidl, then head to Asda or Tesco for branded goods. Use loyalty cards: Tesco’s Clubcard and Sainsbury’s Nectar Card can unlock significant discounts. Look for yellow ‘reduced’ stickers: Many supermarkets reduce prices on near-expiry food in the evenings (e.g. Morrisons before closing, Sainsbury’s after 7pm). Check unit prices: The price per kilo/litre/unit on shelf labels helps identify the true bargain—bigger packs aren’t always cheaper. Consider ‘wonky’ fruit and veg: These may not look perfect but are usually cheaper and just as tasty. The tax secrets behind supermarket pricing Your supermarket receipt also hides some useful tax lessons—mainly about VAT (Value Added Tax). Knowing how VAT works helps explain why some items cost more, and sometimes even helps you save. VAT is a consumption tax charged on the ‘value added’ at each stage of production and sale. In the UK, the following rates apply: 20% standard rate – applies to most goods and services. 5% reduced rate – applies to certain energy and efficiency products. 0% zero rate – applies to essentials such as most unprocessed food.   How does this show up in supermarkets? Zero rate (0% VAT): Most staple foods and drinks, such as fresh fruit and veg, meat, fish, eggs, milk, bread, rice, pasta, tea, and coffee beans. Standard rate (20% VAT): Hot takeaway food, crisps, biscuits, chocolate, sweets, ice cream, fizzy drinks, bottled water, alcohol, pet food, toiletries, cleaning products, stationery, clothing, toys, appliances, and most non-food items. Exceptions: Dairy alternatives like soya milk are usually zero-rated. On your receipt, VAT is included in the product price and is often summarised at the bottom (e.g. ‘Price includes VAT @ 20%’).   Other taxes which might affect what you pay Sugar Tax (Soft Drinks Industry Levy): Drinks with high sugar content are taxed at up to £0.24 per litre, encouraging manufacturers to cut sugar. Prices of high-sugar drinks are noticeably higher as a result. Alcohol Duty: Built into the price of beer, wine, and spirits, based on alcohol strength—explaining why alcohol is relatively expensive. Plastic Packaging Tax: Since April 2022, packaging with less than 30% recycled content is taxed at £200 per tonne, increasing costs for some products.   Why does this matter? Understanding pricing: Explains why a bottle of water can cost more than milk (VAT on water, none on milk). Saving money: Buying zero-rated ingredients to cook at home is both healthier and cheaper than VAT-rated processed foods or takeaways. Smart choices: Recognising the impact of sugar and alcohol duties helps explain price differences between brands.     Why TB Accountants? Professional Assurance : Our team includes ACA members and ACCA-certified professionals, delivering services to the highest industry standards. Responsive Service : We respond to your inquiries within 24 hours, ensuring efficient communication across time zones. Multilingual Support : Services available in English, Mandarin, Cantonese, Japanese, French, German, Spanish, Italian, Turkish, and more. Trusted by Clients Worldwide : Consistently praised by global clients for proactive, professional, and reliable accounting and tax support. For individuals and businesses looking for UK taxation services, use our contact form  to get in touch for more information. Get in touch with us at info@tbagroup.uk  or for a free one-to-one consultation.  This article is intended as general guidance only, and does not replace any legal or professional advice.  For enquiries, please contact  TBA Group  via  email  or  WhatsApp .

When living and working in the UK, most people associate October with two familiar events: the clocks going back for winter time and Halloween. But there is something far more important than ‘trick or treat’ for many – the critical deadline for self-assessment tax registration. Most employees in the UK pay tax automatically through the PAYE system. However, if you have self-employed income, a side hustle, investment gains, rental income, or are part of a high-income household that must repay Child Benefit, you need to submit a self-assessment tax return to HMRC. As income tax allowances and thresholds have been frozen in recent years, more people are falling into the self-assessment system. Registering and filing on time is not only a legal duty but also the best way to avoid surprise tax bills and penalties. 5 October – registration deadline for first-time filers If you became self-employed, a landlord, or earned untaxed income during the 2024/25 tax year (6 April 2024 to 5 April 2025), you must register by 5 October 2025. Once registered, HMRC will issue you with a UTR (unique taxpayer reference), which you will use to submit your return. You usually need to register if you are: Self-employed/sole trader with turnover (before allowable expenses) of more than £1,000 A landlord receiving rental income – if you own UK property and collect rent, you must register and declare, though you may be able to claim relevant tax reliefs A non-UK resident with UK taxable income (such as property rental or capital gains) Earning more than £1,000 from a side hustle (e.g. Reselling goods or online trading) An investor or company director receiving dividends or capital gains above the allowance Even if you believe you owe no tax for a given year, HMRC still expects you to register if you meet the criteria. While not every situation is legally mandatory, failing to notify HMRC when you do have a liability can result in penalties of up to 100% of the unpaid tax, particularly if HMRC believes you deliberately concealed income. If you have registered and filed in previous years, you do not need to register again. But if your circumstances have changed, you must update your details. Missing deadlines will trigger penalties, which increase over time: £100 late filing penalty immediately after the deadline after 3 months: £10 per day (up to £900) after 6 months: a further £300 or 5% of tax due (whichever is higher) after 12 months: another £300 or 5% of tax due (whichever is higher) If tax remains unpaid, surcharges of 5% are added after 30 days, 6 months, and 12 months, plus interest. In other words: register and file early to save money and avoid stress. If you miss the 5 October registration date, HMRC will usually send you a letter or email with a revised deadline (normally three months from the notice). Nonetheless, it is always safer to act sooner rather than rely on late filing arrangements. 31 October – paper tax return deadline Once registered, you can file either online or on paper. If you file on paper, the deadline is 23:59 on 31 October 2025. Late submission will attract penalties. Since HMRC’s online system automatically calculates tax owed, most people prefer to file online. The deadline for this is 31 January 2026, giving extra time. 31 January 2026 – deadline for payment Regardless of whether you file on paper or online, any tax owed for the 2024/25 tax year must be paid by 31 January 2026. If you filed on paper in October, you can either pay immediately or wait until January. We generally recommend filing and paying early, though this will depend on the cash flow of landlords and self-employed individuals. For many small business owners under financial pressure, paying later may be necessary. Digital tax reporting coming soon In recent years the UK has been rolling out its Making Tax Digital (MTD) scheme. From 2026, landlords with income over £20,000 will be required to use approved software to record and submit returns. For those with income above £50,000 in 2024/25, registration for digital tax filing becomes mandatory from 2026. The income threshold will gradually reduce in subsequent years. This means landlords and the self-employed will not only need to complete their final return by 31 January each year but also submit quarterly updates in May, August, November and February. The aim is greater transparency and efficiency, but the process will be more frequent and rigorous. Watch out for scams As tax season approaches, scams are on the rise. In the past year HMRC has received more than 170,000 scam reports, including 47,000 relating to fake tax refunds. Remember – HMRC will never request personal or bank details by text, email or phone call, and will not threaten arrest or legal action in voicemail messages. Refunds can only be claimed through HMRC’s official website. If you receive a suspicious message, always verify and report it.   Why TB Accountants? Professional Assurance : Our team includes ACA members and ACCA-certified professionals, delivering services to the highest industry standards. Responsive Service : We respond to your inquiries within 24 hours, ensuring efficient communication across time zones. Multilingual Support : Services available in English, Mandarin, Cantonese, Japanese, French, German, Spanish, Italian, Turkish, and more. Trusted by Clients Worldwide : Consistently praised by global clients for proactive, professional, and reliable accounting and tax support. For individuals and businesses looking for UK taxation services, use our contact form  to get in touch for more information. Get in touch with us at info@tbagroup.uk  or for a free one-to-one consultation.  This article is intended as general guidance only, and does not replace any legal or professional advice.  For enquiries, please contact  TBA Group  via  email  or  WhatsApp .

Many UK business owners will already be aware of upcoming compliance changes. Companies House has confirmed that identity verification will soon be compulsory for company directors and persons with significant control (PSCs). This month, the agency officially announced the implementation date. From 18 November 2025, company directors and PSCs will be required to provide a personal code when filing registration documents. Who needs to complete identity verification and when? According to Companies House, identity verification will be compulsory for both existing and new directors and PSCs, with around 6 to 7 million people expected to complete the process. Directors From 18 November 2025, directors must provide a personal code in their company’s next confirmation statement. A 12-month transitional period will apply. If you are a director of multiple companies, you must provide the code for each company. For new companies registered after this date, every director must supply a personal code at incorporation. Persons with Significant Control (PSCs) Each PSC must file a statement within 14 days of completing identity verification, confirming compliance and providing the Companies House personal code. The exact 14-day timeframe depends on circumstances: PSC after 18 November 2025: the 14 days run from the date the PSC is registered at Companies House. PSC before 18 November 2025 who is also a director: the 14 days run from the date of the company’s next confirmation statement. PSC before 18 November 2025 who is not a director: the 14 days run from the first day of the PSC’s birth month shown in Companies House records. For example, if the records show March 1990, the 14 days will begin on 1 March 2026.   How to complete identity verification There are two routes for identity verification: GOV.UK One Login Verification can be completed free of charge via GOV.UK One Login. The process involves uploading ID documents (such as passport or driving licence) and completing a face scan. Authorised corporate service provider (ACSP) Alternatively, individuals can verify through an ACSP, although service fees may apply. In most cases, identity verification will only need to be completed once. Once approved, a personal code will be issued, which must be used for future Companies House filings. Consequences of not completing verification Failure to comply with the new requirements will be an offence and may result in serious consequences, including: Inability to file statutory documents Rejection of new company incorporation applications Disqualification of directors who fail to verify Compulsory strike-off of the company Financial penalties or other regulatory sanctions Wider roll-out of verification Companies House will phase in the verification process over a 12-month period. By mid-November 2026, an estimated 6 to 7 million people will be required to complete verification. Later stages will also extend verification requirements to: Individuals filing on behalf of companies Limited partnerships Corporate directors Corporate members of LLPs Officers of corporate PSCs This reform is not just a compliance exercise; it directly affects company operations, the ability to file accounts and statements, and even ongoing legal status.   The view from TB Accountants Companies House has entered a new era of stricter oversight, and identity verification is one of the most significant regulatory changes in recent years. Businesses should therefore prepare well ahead of time to ensure smooth compliance and avoid disruption.   Why TB Accountants? Professional Assurance : Our team includes ACA members and ACCA-certified professionals, delivering services to the highest industry standards. Responsive Service : We respond to your inquiries within 24 hours, ensuring efficient communication across time zones. Multilingual Support : Services available in English, Mandarin, Cantonese, Japanese, French, German, Spanish, Italian, Turkish, and more. Trusted by Clients Worldwide : Consistently praised by global clients for proactive, professional, and reliable accounting and tax support. For individuals and businesses looking for UK taxation services, use our contact form  to get in touch for more information. Get in touch with us at info@tbagroup.uk  or for a free one-to-one consultation.  This article is intended as general guidance only, and does not replace any legal or professional advice.  For enquiries, please contact  TBA Group  via  email  or  WhatsApp .

HMRC to resume taking tax owed by debtors directly from their bank accounts   The UK government previously announced in its Spring Budget Statement that HMRC would reinstate the Direct Recovery of Debts (DRD) policy. Recently, HMRC confirmed that the pilot phase of this program has now officially restarted.   Under the DRD policy, for individuals and businesses with tax debts exceeding £1,000, HMRC will be permitted to recover funds directly from taxpayers’ bank accounts (including cash ISAs). The measure primarily targets those who have the means to pay but deliberately avoid settling their tax liabilities.   HMRC stressed that the vast majority of taxpayers pay their taxes on time and in full, and that only a small minority choose not to pay despite being able to. To minimize undue impact, several safeguards will be built into the DRD process, including:   It will apply only to established debts where the appeal period has expired and the taxpayer has repeatedly ignored HMRC’s attempts to contact them. Taxpayers will still have the right to appeal if they dispute the debt amount. When enforcing recovery, HMRC must leave at least £5,000 in the account to cover wages, mortgages, and essential living or business expenses.   Dawn Register, Partner in Tax Dispute Resolution at BDO, commented: "In the context of significant pressure on public finances, it is clear that HMRC is stepping up efforts to pursue those who can pay but won’t pay.” She advised that taxpayers facing genuine financial difficulty should proactively apply for a ‘Time to Pay’ arrangement. Read more... The government has announced plans to introduce a digital ID system across the UK   The UK government has announced plans to introduce a digital ID system nationwide, with Prime Minister Keir Starmer stating that it will help strengthen the country’s border security.   The digital ID will serve as proof of an individual’s right to live and work in the UK. The government said the initiative aims to curb illegal immigration by making it harder for people without valid status to find employment. Announcing the plan, Starmer said: “Without a digital ID, you will not be able to work in the UK—it's that simple.”   The digital ID will be available through a dedicated application system that can be downloaded onto smartphones, similar to the NHS app or a digital bank card. It will contain information such as the holder’s residency status, name, date of birth, nationality, and photograph.   All UK citizens and legal residents will be issued a digital ID and must hold one in order to work. For students, retirees, or others without a need to work, registering for a digital ID will be optional.   Once the digital ID is officially rolled out, the National Insurance Number will no longer be the only proof of the right to work.   At present, borrowing, stealing, or using someone else’s National Insurance Number is relatively easy, which has been one of the factors fueling illegal employment. However, with the digital ID system, the use of a photograph can, to some extent, prevent multiple people from sharing the same number.   Meanwhile, ministers have ruled out making the use of a digital ID mandatory for accessing healthcare or welfare benefits.   The system, however, is being designed to integrate with certain government digital services, with the aim of simplifying application processes and reducing fraud risks.   According to the government, over time the digital ID will make it easier to apply for services such as driving licences, childcare, and welfare. It also stated that digital IDs will simplify access to tax records.   The Labour Party has said the scheme will be launched before the next general election, which by law must be held no later than August 2029. On the UK Parliament website, more than one million people have already signed a petition opposing the introduction of digital IDs.   Estonia introduced a mandatory digital ID system in 2002, allowing people to access medical records, vote, use banking services, and provide digital signatures. Australia and Denmark also have digital ID apps, which people can download and use to log into government and private services.   Globally, many other countries—including Singapore, Greece, France, China, Costa Rica, and South Korea—are also gradually implementing digital ID systems, designed to serve as a temporary verification tool when individuals are unable to provide a physical ID document.   Read More... Starmer denies putting seven-acre field in trust to avoid inheritance tax   Recently, UK Prime Minister Keir Starmer has found himself embroiled in a “inheritance tax avoidance row”, though he firmly denies ever placing a seven-acre plot of land he purchased in 1996 into a trust to avoid inheritance tax.   Reports say Starmer bought the land, located behind his parents’ home, for £20,000 and used it as an enclosure for livestock so his parents could look after the animals. Responding to the claims during a media interview, he stated clearly: “I did not do that.”   British media had earlier alleged that Starmer arranged for the land to be transferred to his parents in a way that meant its value would not be included in their estate upon death. Starmer, however, explained: “I bought the land because my parents loved donkeys. My mother was seriously ill at the time, later had to undergo an amputation, and could barely communicate. But she adored her donkeys, and I wanted her to still be able to see them.”   He added: “It was a piece of farmland worth £20,000, with only four donkeys on it. To ensure my mother could see and touch them during her final days, my father even built a small shed by the edge of the land, so her wheelchair could be brought out close to the donkeys. That’s the whole story.” Starmer has previously told the Parliamentary Standards Commissioner that after purchasing the land, he “immediately gifted it to his parents,” though the legal title remained in his name. In 2022, he eventually sold the land, which was located in Oxted, Surrey.   Read More... Why TB Accountants? Professional Assurance : Our team includes ACA members and ACCA-certified professionals, delivering services to the highest industry standards. Responsive Service : We respond to your inquiries within 24 hours, ensuring efficient communication across time zones. Multilingual Support : Services available in English, Mandarin, Cantonese, Japanese, French, German, Spanish, Italian, Turkish, and more. Trusted by Clients Worldwide : Consistently praised by global clients for proactive, professional, and reliable accounting and tax support. For individuals and businesses looking for UK taxation services, use our contact form  to get in touch for more information. Get in touch with us at info@tbagroup.uk or for a free one-to-one consultation.  This article is intended as general guidance only, and does not replace any legal or professional advice.  For enquiries, please contact  TBA Group  via  email  or  WhatsApp .

Fast fashion giant Shein has delivered a striking performance in the UK market. In 2024, its sales surged by 32.3% year-on-year to surpass £2.05 billion (around USD 2.77 billion). This result has already pushed Shein ahead of Boohoo and close to overtaking Asos. The figures come from a report filed by Shein’s UK subsidiary with Companies House, confirming the brand’s strong momentum and revealing how it has managed to win over millions of fans in one of the world’s most competitive retail landscapes. Online and offline strategy captures Gen Z Shein has never relied solely on online channels. In the UK, it combines digital reach with physical presence: bustling pop-up shops in Liverpool, a Christmas-themed bus tour across 12 cities, and expanding offices in London and Manchester. These ‘see it, touch it’ experiences strike exactly the right chord with Gen Z consumers. On top of this, Shein excels at social media engagement. On TikTok, the #SheinHaul hashtag remains hugely popular, with young shoppers sharing their purchases and recommendations. More than 60% of Shein’s UK sales now come from this demographic, showing just how well the brand has understood how to win over younger audiences. Low prices and fast supply chain put value for money centre stage Ask most people about Shein, and the first response is ‘cheap but fashionable’.  In the UK, the average price per garment is around £15, yet the collections follow global trends at impressive speed. Behind this is China’s ultra-responsive supply chain, which allows designs to move from concept to sale in record time – lowering costs while satisfying demand for the latest looks. This efficiency is reflected in profits. In 2024, Shein’s UK pre-tax profits rose by 56.6% to £38.3 million. By contrast, ASOS saw an 18% revenue decline, and Boohoo’s sales were only 45% of Shein’s. While domestic rivals struggle with heavy discounting and shrinking margins, Shein manages to keep prices low and still increase earnings – a clear supply chain advantage. Preparing for Hong Kong IPO – UK market as key endorsement Shein’s strong UK results arrive at a crucial moment as the company prepares for its IPO. While London was considered, regulatory factors in China led Shein to focus on Hong Kong instead. Still, the UK – now Shein’s third-largest market after China and the US – is a powerful endorsement of the company’s valuation. Shein has already become the UK’s sixth-largest clothing retailer, with market share rising from 2.4% in 2023 to 3.1% in 2024. Analysts suggest it could overtake Sports Direct to enter the top five next year. Clearly, the UK market is playing a pivotal role in Shein’s global growth story. Selling on Shein: compliance steps you cannot skip For businesses looking to sell on the Shein platform, success depends on a clear understanding of compliance rules in each target market. 1. UK authorised representative If products are sold in the UK, certain categories – such as electronics – require a UK Authorised Representative (UK Rep). Under UK law, the representative ensures that goods meet safety, health and environmental standards, handles registrations, and communicates with regulators on behalf of the seller. The UK Rep must also assist in the event of product safety issues, providing technical documentation and supporting investigations. Choosing a qualified, reputable UK Rep and signing a detailed contract is essential. Similarly, under EU regulations, an EU Authorised Representative (EU Rep) is required for certain non-food products sold in the EU. 2. VAT compliance Shein operates globally, and tax rules vary widely across countries. In Europe, VAT is particularly complex, with rates differing by country – 19% in Germany, 20% in France, 22% in Italy. Sellers must register for VAT in the destination country, charge VAT correctly, and file returns accordingly. Additional taxes such as consumption tax or customs duties may also apply. For tailored advice, you can consult with TBA Global. 3. Trademark registration Brand protection is critical. If you sell under your own brand, register the trademark in your target market in advance. For example, in the US you must apply with the USPTO and pass both formal and substantive examination before gaining exclusive rights. If selling authorised goods, valid authorisation from the brand owner is required, with clear documentation of scope and duration. Failure to comply may lead to delisting, frozen accounts or even legal penalties for infringement.   TBA Global’s expertise With 16 years of experience in cross-border compliance, TBA Global provides one-stop solutions for businesses selling internationally. If you need help with UK or EU requirements, VAT registration, or trademark protection, our team is ready to help.   Why TB Accountants? Professional Assurance : Our team includes ACA members and ACCA-certified professionals, delivering services to the highest industry standards. Responsive Service : We respond to your inquiries within 24 hours, ensuring efficient communication across time zones. Multilingual Support : Services available in English, Mandarin, Cantonese, Japanese, French, German, Spanish, Italian, Turkish, and more. Trusted by Clients Worldwide : Consistently praised by global clients for proactive, professional, and reliable accounting and tax support. For individuals and businesses looking for UK taxation services, use our contact form  to get in touch for more information. Get in touch with us at info@tbagroup.uk  or for a free one-to-one consultation.  This article is intended as general guidance only, and does not replace any legal or professional advice.  For enquiries, please contact  TBA Group  via  email  or  WhatsApp .