M Nasir Uddin & Partners

UK Budget 2025: Building a Stronger, Fairer Future

The UK government has unveiled the 2025 Budget today, introducing a mix of strategic investments and tax measures aimed at strengthening the economy, public services, and sustainability. Some key highlights include:

💼 Income Tax Threshold Freeze – Thresholds will be frozen until 2031, helping maintain fiscal stability while supporting essential services.

🏠 Luxury Home Tax – Annual tax on homes over £2 million to raise £400 million annually by 2029-30, contributing to funding national priorities.

⚡ Electric Vehicle Levy – A mileage-based charge on EVs starting in April 2028, projected to generate £1.4 billion, supporting a greener transport transition.

🏢 Landlord Tax Increases – Property income tax rates to rise by 2 percentage points from April 2027, encouraging fairer contributions to public finances.

👶 Welfare & Pension Updates – The two-child welfare cap will be removed in April 2026, and benefits will rise with inflation, providing more support to families.

🏥 NHS Investment – £300 million in additional capital for technology to improve productivity and patient outcomes, driving innovation in healthcare.

🆔 Digital ID Cards – £1.8 billion allocated over three years to modernize public services and enhance security.

🚨 UK Company Directors – Act Now!
Identity verification is now mandatory.
✅ Deadline: 18th November 2025
Need assistance? We’ll handle it for you.
📩 [email protected]

ChatGPT can spark ideas, but your accountant signs the tax returns. Think of AI as a compass, pointing you in the right direction, but your accountant is the navigator, ensuring you avoid pitfalls and reach your financial destination safely. When it comes to your business's financial health and compliance, there's no substitute for personalized expertise.

Most businesses use ChatGPT before consulting their accountant Almost two-thirds of businesses are now using ChatGPT for advice before consulting their accountant.

The new tax adviser legislation from HMRC has sparked concerns about placing an undue burden on professionals, particularly sole practitioners and small firms. Here are some key points to consider:

- Mandatory Registration: Tax advisers interacting with HMRC on behalf of clients will need to register and meet minimum standards. This aims to raise standards in the tax advice market and provide taxpayers with greater protection.
- Potential Burden: Critics argue that the legislation is cast too widely, imposing significant new burdens and uncertainty on advisers without delivering better outcomes for taxpayers.
- Exemptions: Professionals already subject to robust regulation, such as legal services, insolvency, audit, licensed conveyancers, and independent financial advisers, may be excluded from this requirement.
- Implementation Timeline: A transitional period of at least three years is expected to allow unaffiliated tax advisers to join professional bodies. Implementation may be possible by 2028, pending legislation and system readiness.

Some potential benefits of the legislation include:

- Improved Standards: Raising standards in the tax advice market to provide taxpayers with greater assurance and protection
- Enhanced Security: Strengthening controls on access to HMRC's services to deter unscrupulous actors

However, concerns remain about:

- Increased Costs: Potential costs for businesses offering tax advice and services, which may lead to increased costs for clients
- Administrative Burden: Additional administrative tasks and potential disruption for tax practitioners and HMRC

Overall, the legislation aims to strike a balance between raising standards and minimizing extra costs and burdens for taxpayers, tax practitioners, and professional bodies.

HMRC's new tax adviser legislation puts 'undue burden' on professionals Starting in April, tax advisers must register with HMRC and comply with minimum standards in a move slammed as 'unfair' by the Law Society

ALL COMPANY DIRECTORS AND PSC’s NEED TO VERIFY THEIR IDENTITY FOR COMPANIES HOUSE BY 18TH NOVEMBER 2025.

When you need to verify your identity for Companies House When you need to verify depends on your role, and when you started that role.

The Bank of England has cut interest rates for the fourth time in a year, lowering them to 4.25% from 4.5%—a move aimed at easing borrowing pressures and stimulating economic growth.”

UK interest rates cut to 4.25% by Bank of England The Bank cuts rates for the second time this year, saying the slowdown in inflation was behind the move.

M NASIR UDDIN & PARTNERS is inviting UK statutory auditors to join our B2B audit client-sharing partnership, with priority given exclusively to British Bangladeshi auditors.

We currently have four audit assignments ready to commence from April 2025, with ongoing opportunities expected throughout the year.

Interested auditors are encouraged to get in touch to explore this collaboration further.

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[email protected]

MNU Partners Chartered Accountants & Tax Consultants.