Business news 29 April 2025
Retail sales slump as caution reigns. Workers’ rights bill sparks job fears . Insolvencies & more business news that we thought would interest our members.
James Salmon, Operations Director.
Please note: on the 19/3/25 CPA moved after 45 years on King Street, to new offices a couple of miles down the road at Profile West, 950 Great West Road, Brentford, TW8 9ES.
Retail sales slump as caution reigns
Retail sales volumes experienced a slight decline in April, with businesses anticipating continued consumer caution in the months ahead. The CBI retail sales index’s weighted balance improved to -8% from -41% in March, yet retailers expect a more significant drop in May. Martin Sartorius, principal economist at the CBI, remarked: “Annual retail sales volumes fell more slowly in April, but firms remain pessimistic about the outlook due to the impact of autumn budget measures, persistently weak consumer sentiment, and global economic uncertainty.”
Workers’ rights bill sparks job fears
Labour’s proposed workers’ rights bill is facing significant backlash from the business community, with a poll by the British Retail Consortium (BRC) revealing that 52% of HR directors anticipate job cuts and increased prices as a result of the legislation. BRC chief executive Helen Dickinson said: “Unless amended, the bill will make it even harder to keep and create jobs.” The British Chambers of Commerce (BCC) has also expressed concerns, calling for amendments to prevent “unintended consequences that could limit employment opportunities and economic growth.” The bill, spearheaded by Deputy Prime Minister Angela Rayner, is seen as introducing excessive red tape, further complicating the already challenging economic landscape. Elsewhere, polling for the TUC suggests the legislation could draw back voters from the Tory party and Reform UK, but it’s not widely known about. Finally, the STUC is calling for the bill to go further and include rights on sectoral bargaining and for union access to workplaces right across the economy.
Tax thresholds squeeze nearly 2m into higher tax bracket
Income tax thresholds, frozen since 2021, have pushed nearly 2m Brits into higher tax brackets, with the number of higher rate taxpayers rising from 4.43m to 6.31m between 2021 and 2025, according to finance specialists Rift. Managing director Bradley Post said: “Rising income taxes have been particularly punitive in recent years, as inflation reached double digits.” The current higher rate tax of 40% applies to income between £50,271 and £125,140. The average income of high earners has increased to £61,041, leading to 21% of their total income being taxed at the higher rate by 2025. Chancellor Rachel Reeves has extended the freeze on income tax bands until April 2028, which also impacts eligibility for financial support like child benefits for many families.
Valuation quango scrapped by Treasury
The Valuation Office Agency (VOA) will be merged into HM Revenue & Customs (HMRC) as part of the Government’s initiative to streamline operations and reduce costs. The Treasury anticipates a 5% to 10% reduction in the VOA’s operating expenses. However, Darwin Friend, head of research of the TaxPayers’ Alliance, suggested the move may not ultimately bring any benefits: “What is likely to happen is that the functions of this body and its quangocrats will simply be absorbed into HMRC – another quango. Given that HMRC can barely deliver its own responsibilities, taxpayers will be deeply sceptical that they will see an improvement in services. Unless Labour addresses the terrible taxation system that necessitates this absurd system of council tax and business rate valuations, they’ll be trying to light the bonfire with a wet match.”
Chancellor’s sugar tax expansion sparks outrage
The Chancellor is set to expand the sugar tax, despite criticism regarding its effectiveness on public health. Rachel Reeves has been accused of implementing another stealth tax, with plans to include milk and yogurt-based drinks in the levy. This “Milkshake Tax” could raise prices by up to 24p per litre, affecting 93% of drinks on the market. Tory shadow Chancellor Mel Stride condemned the move, stating: “At a time when they have already pushed up the cost of living for families, Labour seem determined to pile on even more costs.” Dr Christopher Snowdon, head of lifestyle economics at the Institute of Economic Affairs, said: “The sugar tax has been such a dramatic failure that it should be repealed, not expanded…What happened to Starmer’s promise to not raise taxes on working people?”
Carbon tax ‘killing manufacturing’ in UK
Sir Jim Ratcliffe, chairman of Ineos, has said the carbon emissions tax is “killing manufacturing” in Britain. The company’s Grangemouth plant is set to incur a £15m tax bill in 2024, which Ratcliffe describes as a “heavy blow” that hampers efforts to enhance energy efficiency. He said: “To meet this tax obligation, we will be forced to pause vital investment in projects that were designed to make our operations more efficient and more sustainable.” The tax is part of the UK emissions trading scheme, which aims to reduce carbon emissions across the economy by making it more expensive to burn fossil fuels and other waste.
Marks & Spencer
Marks & Spencer has been forced to keep digital orders suspended for another day due to problems sparked by a cyber attack last week. Customers of the chain using the website and app have been left unable to make online orders for a fourth day on Monday, 28 April.
AI
Huawei said it’s testing a new chip that will compete with Nvidia
Amazon
Amazon launched its first 27 satellites for a broadband internet constellation as part of project Kuiper in competition with Starlink. It aims to eventually launch 3200.
Prem Sikka slams KKR’s involvement in Thames Water
Thames Water, the UK’s largest water company, is facing scrutiny over its selection of US private equity firm Kohlberg Kravis Roberts (KKR) as a preferred bidder for investment. Labour peer Lord Sikka, a professor of accounting at two UK universities, warned that KKR’s involvement could “multiply Thames’s problems,” citing concerns over its business model, which he described as “profiteering, high leverage, low investment, asset stripping and high cash extraction.” Despite the company’s £16bn debt and ongoing financial struggles, it has received multiple investment proposals, with KKR reportedly offering £4bn for a majority stake. Environment minister Baroness Hayman stated that Thames Water is a commercial entity and that the Government cannot comment on its decisions, but noted the importance of meeting regulatory obligations.
Labour tightens debanking rules
Banks will be required to give customers 90 days’ notice before closing accounts under new rules expected to come into force this time next year. Labour’s move to tighten up the rules around debanking will increase the notice period from two months from April 2026 and entitle customers to an explanation as to why their account has been closed. The new rules will also give customers more time to challenge decisions they disagree with and find a new bank if their account is closed. Figures from the Financial Conduct Authority (FCA) show that roughly 408,000 bank accounts were shut down last year, compared to just 45,091 in 2016-2017. The changes come in the wake of Nigel Farage’s high-profile row with NatWest, which saw the Reform UK leader debanked from private bank Coutts for what Mr Farage claimed were “ideological” reasons.
Boosting UK fruit and veg production could increase farm profits
A study by environmental think tank Green Alliance estimates that boosting the domestic horticulture industry in line with promoting the consumption of fruit and vegetables could add £2.3bn to the economy and support up to 23,520 additional jobs.
Latest Insolvencies
Petitions to wind up (Companies) – MC LONDON HOLDINGS LIMITED
Petitions to wind up (Companies) – STRUCTURA SERVICES LTD
Petitions to wind up (Companies) – ZEVHUB LIMITED
Appointment of Administrator – BIG BOX INTRALOGISTICS LTD
Appointment of Administrator – THE 79TH GRP LIMITED
Appointment of Administrator – SEVENTY NINTH AVIATION LTD
Appointment of Liquidators – CYBERIADAI LTD
Appointment of Administrator – 79TH LUXURY LIVING LIMITED
Appointment of Liquidators – BROADVIEW ASSOCIATES LIMITED
Appointment of Liquidators – HSBC LEGACY PARTNERSHIP LIMITED
Appointment of Liquidators – LAWYERS REHABILITATION SERVICES LIMITED
Appointment of Liquidators – GOLDEN FLEECE PROMOTIONS LIMITED
Appointment of Liquidators – DACO CONSULTING LTD
Appointment of Liquidators – TRINITY WEEKLY NEWSPAPERS LIMITED
Appointment of Liquidators – SOMNIUM SERVICE CONSULTANCY LIMITED
Appointment of Liquidators – BOOTS PROPCO G LIMITED
Appointment of Administrator – HENKINS LIMITED
Appointment of Administrator – BELMORE (UK) LIMITED
Petitions to wind up (Companies) – ITCONSILIUM LIMITED
Petitions to wind up (Companies) – X.P.L. LIMITED
Petitions to wind up (Companies) – AF OXFORD LIMITED
Petitions to wind up (Companies) – REBECCA BAKER DESIGNS LTD
Petitions to wind up (Companies) – FASHION CENTRAL UK LIMITED
Petitions to wind up (Companies) – NUVA ENTERPRISES LTD
Petitions to wind up (Companies) – AAJ SUPPLY LTD
Appointment of Liquidators – NOVED INVESTMENT ONE LIMITED
Appointment of Administrator – BISCUITEER BAKING COMPANY LTD
Appointment of Liquidators – ALEX PROMOTIONS LIMITED
Why you should become a member of CPA!
The Credit Protection Association (CPA) has been assisting thousands of UK businesses to get paid, since 1914. We have supported our members through all sorts of difficult trading environments. With high interest rates and a struggling economy and elevated insolvencies, our services can help your business navigate these difficult waters.
Unlike other credit management and debt collection companies, we offer a range of services to our members that are all included as part of a fixed annual subscription, tailored to your needs.
Under your annual subscription you will have access to our main services:
- Our Creditcare credit reports provide credit ratings and limits along with a host of detailed information on your potential customers to enable you to trade with confidence and set appropriate credit policies for new customers.
- Our monitoring service will alert you to any significant changes in the status of those customers.
- Our Overdue account recovery service can be used to chase up payment on any invoices to those customers that have not been paid on time. Unlike other debt collection companies, this service directs your customer to pay direct to you and allows you to maintain your goodwill with them, rather than inserting ourselves into your relationship with you customer and insisting they pay CPA instead. Our Overdue account recovery service resolves over 80% of accounts referred to us.
All of the above services and other complimentary services such address verification, are included in your subscription!
And for the small minority of debts not resolved through our Overdue account recovery service, you can refer the debt to our collections department to escalate the late payment collections process.
CPA eases cash from tardy debtors – Efficiently, Effectively, Economically and Ethically. And we provide credit information so you can monitor and assess your key customers and be warned of any potential risks. CPA has been improving business cash flow for over 100 years, by tackling late payers and campaigning against the late payment culture in the UK.
Unlike other credit management companies, we offer our members a fixed annual subscription regardless of how high the value of their debts maybe!
Rather than to borrowing more money to improve your cashflow, CPA suggests that business owners tackle the problem at its source. If late payments are a strain on your cashflow, then talk to CPA about how we can help you reduce those late payments.
Just call Peter Uwins, CPA’s National Sales Manager, on 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
Do you have a commercial late payer that is causing you grief? Use CPA’s no-win, no-fee, commercial debt recovery service!
If you have a particular business customer who is late paying and causing you sleepless nights, why not offer it to CPA’s collection department for purchase on recourse?
CPA’s collection department will then pursue the debt. We will be liable for any costs incurred and then when we have recovered the debt, we will pay you the net principle debt recovered less our percentage.
Once you have enjoyed that success then you can consider the more cost effective membership which includes our Overdue Account Recovery service and Status/Credit reports as well as a range of other complimentary services.
Just call 020 8846 0000 and ask for Godfrey Nelson or Cris Shirley (business hours) or email debtpurchase@cpa.co.uk today.
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.
Get compensated for previous late payments
Have you been paid late by business customers in the last six years?
Maybe you no longer work with them. Under legislation, you are entitled to compensation you for those late payments you have suffered.
You put up with the PAIN – now claim the GAIN!
Claim late payment compensation (LPC) from former business customers who paid you late in the last six years!
CPA (LPC) Recoveries is using our bespoke software and decades of experience to do just that for our clients
Check our compensation calculator to see how much your business could be owed!
Discover NOW the potential value of late payment compensation hidden in your sales ledger!
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.