This September 2025 business update outlines several key regulatory and economic changes impacting UK companies and individuals. It details a new legal requirement for company directors and People with Significant Control (PSCs) to verify their identity by November 2025, a measure aimed at increasing transparency and combating fraud. The update also summarises the government's Small Business Plan, which introduces tougher legislation on late payments, improved access to finance, and efforts to reduce administrative burdens. Furthermore, it discusses the staged rollout of Making Tax Digital for Income Tax, affecting sole traders and landlords from April 2026, and provides a preview of forthcoming increases to the National Minimum Wage and National Living Wage for 2026. Finally, the update reviews current trends in business banking, highlighting the rise of challenger banks and the continued importance of personalised service for SMEs.Simply Accounts & TaxE: [email protected]: www.simplyaccountsandtax.com YouTube

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