UK Business Updates. What You Need to Know (April–May 2025)

Staying ahead of policy changes is vital for every business owner, investor, and entrepreneur. At Naseems Accountants, we’ve summarised some of the most important UK business updates that were announced recently. From changes in crypto regulation to updates in cross-border trade, here’s what you need to know:

1. UK Signs 2019 Hague Convention for Cross-Border Judgements

The UK government has signed the 2019 Hague Convention on the Recognition and Enforcement of Foreign Judgments in Civil or Commercial Matters.

What this means for businesses:

• UK businesses will soon be able to enforce UK court judgments more easily in countries that have also signed the convention.
• This will reduce legal costs and complexity when doing business abroad.

Read more

2. New Protection Against Sudden Bank Account Closures

From April 2026, banks and payment providers will be required to give at least 90 days’ notice before closing an account unless there’s evidence of criminal activity.

Why it matters:

• Businesses will have more time to respond and make alternative arrangements.
• It provides greater stability, especially for small businesses relying on regular banking access.

More information

3. Draft Legislation to Regulate Cryptoasset Activities

The government has released draft rules that will bring crypto firms under similar regulatory standards as traditional financial services.

Key points:

• The aim is to protect consumers and improve transparency in the crypto market.
• Retail investors may be restricted from buying crypto using borrowed money.

Full details

4. Review of Low-Value Imports Regime

A review has been launched into the Low-Value Consignment Relief (LVCR), which allows goods under £135 to be imported VAT-free.

Why this is important:

• The review aims to create a level playing field for UK-based retailers who feel undercut by VAT-free overseas imports.
• Any changes could impact eCommerce businesses and online sellers.

Learn more

5. Consolidating Small Pension Pots

A new initiative could help people with multiple small pensions (under £1,000) by consolidating them into a single scheme.

The benefits:

• Workers could see up to £1,000 more in retirement due to lower charges and better investment outcomes.
• The plan will allow auto-consolidation, although individuals can choose to opt-out.

Government announcement

Final Thoughts

These changes mark a continued push by the UK government to support business growth, modernise outdated practices, and improve consumer and investor protection.

Need help understanding how these changes could affect your business or investments? Book a free consultation, today for tailored advice and tax planning support.