Business news 10 November 2025
As the UK braces for sweeping Budget changes, new tax rises and pension reforms dominate headlines. Small business owners face mounting uncertainty over investment, costs, and consumer confidence.
James Salmon, Operations Director.
Budget & Tax News
UK faces worst growth decade in a century
The UK is set for its weakest decade of economic growth in 100 years, with average GDP expansion forecast at just 1.1%. Former Bank of England policymaker Andrew Sentance warned that persistent tax rises risk further weakening output.
Why it matters: Slower growth and higher taxes mean less spending, tighter margins, and more late payments for SMEs.
Higher earners face tax hike threat
The Resolution Foundation proposed a 2p income tax rise and a 2p national insurance cut to close a £30bn fiscal gap. Workers earning over £75,000 could pay up to £1,745 more annually.
Why it matters: Rising personal taxes reduce consumer spending power and dampen demand for SME goods and services.
Dividend tax hike expected
Chancellor Rachel Reeves is planning to raise dividend tax rates and cut the £500 tax-free allowance. The move could raise £2bn but deter investment.
Why it matters: Business owners who pay themselves via dividends will face higher costs and lower post-tax income.
Stealth tax raid threatens retirement savings
Plans to cap salary sacrifice schemes at £2,000 could hit pensions and employee morale. Experts warn the change could spark a “thin end of the wedge” toward abolition.
Why it matters: Reduced pension tax breaks may discourage business contributions and strain SME retention efforts.
Pension tax break cuts warning
Limiting relief on pension contributions could raise £2bn annually but discourage saving. Employers may reduce contributions.
Why it matters: SMEs offering pensions may see lower staff engagement and higher turnover.
Pension age hike proposed every decade
Experts suggest raising the state pension age by one year each decade. The government will decide after a 2029 review.
Why it matters: Workers may need longer employment contracts, increasing wage costs for small firms.
HMRC whistleblower reward scheme
HMRC plans to reward informants with up to 30% of recovered taxes to tackle fraud.
Why it matters: More audits and investigations could target small firms and contractors.
Chancellor’s “exit tax” sparks entrepreneur exodus
Reeves’s proposed exit tax could raise £30bn but risks driving talent abroad.
Why it matters: Start-ups and scale-ups may relocate to lower-tax jurisdictions.
Over 1m now paying top tax rate
Frozen thresholds have pulled 720,000 extra taxpayers into the 45% band, taking the total above 1m for the first time.
Why it matters: High-income earners often include business owners, reducing reinvestment capital.
UK’s tax regime should be more competitive
Sophie Dworetzsky of Lombard Odier warned that tax changes risk driving wealth and investment offshore.
Why it matters: Policy uncertainty threatens the flow of private capital into UK SMEs.
Lisa Nandy defends income tax U-turn
The Culture Secretary said ministers “take promises seriously” but must make “difficult decisions” to stabilise finances.
Why it matters: Confirms tax rises are politically locked-in — SMEs should prepare for reduced consumer demand.
General Business News
Small firms eye exit over rising taxes
Rathbones found 12% of small business leaders plan to relocate, citing higher taxes and poor government support.
Why it matters: Capital flight and reduced confidence threaten domestic supply chains.
Retail footfall falls for sixth month
BRC data show retail activity down 0.7% in October amid Budget jitters.
Why it matters: Weaker consumer confidence raises late-payment risk for retail suppliers.
Average UK house price hits new record
Halifax reports an average house price of £299,862 — up 0.6% in October.
Why it matters: Rising housing wealth may sustain spending, though affordability remains tight.
Complaints against landlords at record high
Tenant complaints nearly doubled over the decade, reaching 1,200 per local authority on average.
Why it matters: Stricter housing rules could raise compliance costs for SME landlords and contractors.
Building compliance firm collapses
Assent Building Compliance entered insolvency, threatening thousands of UK construction projects.
Why it matters: Supply-chain instability could leave subcontractors unpaid.
John Caudwell warns Labour on workers’ rights
The billionaire Labour donor urged the government to soften the Employment Rights Bill, warning it could “drive jobs offshore.”
Why it matters: Potential changes to dismissal rights could increase legal exposure for SMEs.
Nigel Farage champions small businesses
Farage vowed to cut red tape and reverse Labour’s reforms, calling SMEs “the most ignored sector.”
Why it matters: Highlights growing political attention on SME tax burden.
Employers expect AI job losses
CIPD reports one in six employers foresee workforce cuts due to AI in 2026.
Why it matters: Automation may cut costs but risks rising unemployment and weaker demand.
NEET review launched
The government ordered a review into 1m young people not in work, education or training.
Why it matters: Addressing youth inactivity could expand the future labour pool for SMEs.
Young adults leaving UK
Wealth managers warn of a “quiet exodus” among young professionals citing low pay and high taxes.
Why it matters: Skills shortages may worsen, raising recruitment costs.
Comcast in talks to buy ITV unit
Sky’s parent company is negotiating to buy ITV’s media and entertainment arm for £1.6bn.
Why it matters: Media consolidation could reshape UK advertising markets.
Diageo appoints Dave Lewis as CEO
The former Tesco boss takes over in January 2026, succeeding interim CEO Nik Jhangiani.
Why it matters: Leadership change may influence supplier and marketing contracts.
Market & Global News
Tech stocks tumble as AI bubble fears wipe $800bn
US tech shares had their worst week since April, led by sharp drops in Nvidia and Meta.
Why it matters: Market volatility can affect investor appetite and SME funding.
US shutdown nears resolution
The Senate passed a bill to fund government operations until January 30, easing global market nerves.
Why it matters: Improved sentiment supports export demand and reduces FX volatility.
Market Snapshot
Oil (Brent): $63.29 (+0.48) Gold: $4,090 (+$80) Copper: $5.02 (+$0.08).
Summary: Global markets opened higher on hopes for US political stability and easing trade tensions, creating a mild “risk-on” tone that boosted equities and commodities while weighing on the dollar.
FTSE 100: ▲ 0.8% to 9,759.67 — lifted by optimism around US shutdown resolution.
Sterling: £1 = $1.3163 — steady, showing cautious optimism.
Eurozone Sentix: −7.4 (weaker than expected) — investor confidence still fragile.
S&P 500 & Nasdaq futures: rising Monday, supported by tech rebound hopes.
Key Market Drivers
The dominant theme since Friday has been optimism around potential resolution of the US government shutdown, with US lawmakers progressing a bill to fund the government until January 30 . Additionally, easing trade tensions between China and the West have supported sentiment, with Beijing suspending export bans on key dual-use materials to the US .
The combination of these political developments has created a risk-on environment, benefiting equities across the UK, Europe, and North America while supporting commodity prices and pressuring safe-haven assets.
CPA’s message
When government policy turns against growth, having steady cashflow is more important than ever. CPA members enjoy access to professional credit control, debt collection and the reassurance that their invoices are taken seriously.
Just call Peter Uwins, CPA’s National Sales Manager, on️ 020 8846 0000 (business hours) or email nsm@cpa.co.uk today.
When you see your money come in, you will be so glad you used CPA.
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.
Insolvency Data
Appointments of Administrators
- Bell Educational Services Ltd
- KRL Group Limited
- Shepperton Builders Limited
Appointments of Liquidators
- A2 DBA Services Ltd
- Agiliqui Consulting Limited
- Alpha Medstats Ltd
- Ann and Anthony Stork Limited
- Arnold Read Property Limited
- Board Mentoring Limited
- Business Space Made Easy Limited
- Claran Design Ltd
- CMA Holdings (Northants) Ltd
- Coldascript Limited
- Cranium Consulting Limited
- Cymba Ltd
- Danovo Limited
- Dermhealth Ltd
- DSLAW Limited
- ECO Northern Limited
- Emoorf Online Marketing Ltd
- Es Field Delivery UK Ltd
- General Healthcare Holding Partnership LLP
- General Healthcare Mixer Partnership LLP
- General Healthcare Nominee Partnership LLP
- Goldbridge Limited
- H B Raylor & Company Limited
- HGM Developments Limited
- Heyshott Consulting Ltd
- HH Cleaning Ltd
- Howtin 2016 Limited
- Jacobson Chemicals Limited
- J Clarke Builders Ltd
- John W M King Limited
- Lanyon BPM Consulting Ltd
- Lee Robinson Associates Limited
- Macallister Medical Services Limited
- Marmalade Advisory Services Ltd
- Minerva Change Services Ltd
- Modelling and Simulation Ltd
- MU2 Investment Limited
- NTT Security (UK) Limited
- Old Barn Dental Practice Limited
- Pavel Consulting Solutions Limited
- Pin Money Ltd
- Process Engineering Services & Consultants Ltd
- Rae and Eve Limited
- Rent-A-Till Limited
- Shopmate Ltd
- Silvercheck Ltd
- Simbell Holdings Limited
- Suzanne Baxter Associates Limited
- Thirty Devonshire Place Limited
- TPA Contracts Ltd
- Tudor Croft & Assoc. Ltd
- Ween Semiconductors (United Kingdom) Limited
- Willoughby (396) Limited
Winding-Up Petitions
- Autovalet (Galashiels) Ltd
- Choc Box Investments (1) Limited
- Choc Box Investments (2) Limited
- Cleaver (N.I.) Ltd
- Daredevil Recruitment Limited
- Haston & Krol Ltd
- Hellfire Entertainment Limited
- JYS Taxis Ltd
- Maja Real Estate Limited
- Nationwide Entertainment Ltd
- Nowcm Services (UK) Ltd
- Osm Developments Limited
- Santraxco Limited
- Striving Care Ltd
- Vivienne 88 Ltd
- WBS Building & Landscaping Ltd
- Your Life Your Support Limited