Weekly Business News - 6 May 2025

These podcast provide an overview of recent and upcoming government announcements and reforms impacting businesses and individuals in the UK. Key areas covered include changes to tax administration and reporting, such as the delay of mandatory payrolling benefits and simplifications to the VAT Capital Goods Scheme. The texts also discuss a review of low value import rules, aimed at addressing concerns from domestic retailers, and new measures to automatically consolidate small pension pots to improve management and returns. Furthermore, reforms are highlighted to prevent sudden bank account closures by requiring longer notice periods and explanations, and draft legislation for regulating cryptoasset firms is introduced. Finally, a new international agreement is presented which will simplify the recognition and enforcement of UK legal judgments in other participating countries.

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