Public sector contracts: social value rules lifted for bids under £1 million
From 1 January 2027, central government will assess social value in contract bids using a new model set out in Procurement Policy Note 026, published by the Cabinet Office in August 2026.
Companies House identity verification: the first directors have been prosecuted
The Insolvency Service has secured its first convictions for failing to meet Companies House identity verification requirements. Three directors from two companies were fined at City of London Magistrates’ Court on 16 September 2026.
VAT and PAYE: HMRC consults on making Direct Debit compulsory
HMRC has consulted on a proposal to make Direct Debit the required method of paying VAT and PAYE return liabilities for most businesses and employers. The consultation ran from 23 June to 16 August 2026, and HMRC estimates the change would affect around 2.4 million businesses and employers.
Business outlook: slow growth and weak investment forecast into 2027
The British Chambers of Commerce expects the UK economy to grow by 1% in 2026 and by the same amount in 2027, according to its latest quarterly forecast, published in September 2026.
Late payment reform: a bill that works in SMEs’ favour is now before Parliament
The Commercial Payments Bill was introduced in the House of Lords in May 2026, following the government’s response to a public consultation on late payment. Once in force, likely no earlier than 2027, it will impose a maximum 60-day payment term on larger firms paying smaller suppliers, add statutory interest on overdue invoices at 8% above the Bank of England base rate, ban the withholding of retention sums in construction contracts, and give the Small Business Commissioner stronger powers to investigate and fine persistent late payers. Boards and audit committees of large companies will also need to publish and account for their payment performance.
Business rates: the new multiplier system has not meant lower bills for everyone
From 1 April 2026, the business rates system moved from two multipliers to five, with lower rates for retail, hospitality and leisure properties under £500,000 rateable value, funded by a higher rate on properties valued at £500,000 or more.
Employment Rights Act: the next wave of changes lands on 30 October
The next phase of the Employment Rights Act 2025 takes effect on 30 October 2026. Employers will be required to take all reasonable steps, rather than simply reasonable steps, to prevent sexual harassment of their employees, and will become directly liable for harassment by third parties such as customers, clients and contractors unless those steps can be evidenced.
Companies House identity verification: the deadline is closer than it looks
Companies House now requires directors and people with significant control to verify their identity.
The National Franchise Exhibition – Celebrating the Backbone of British Enterprise
Best of British Franchising
What £150 Billion of US Investment Really Means for UK SMEs
US investment, a game-changer for UK SMEs — or just another headline for big business?