British SME topic
New figures show large businesses are paying suppliers faster than in 2018, but 15 percent of invoices were still paid late in 2025. Small firms should use the data as a prompt to tighten credit control.
HMRC is reminding Self Assessment customers that the second payment on account is due by 31 July, making this a cash-flow checkpoint for many sole traders, partners and small business owners.
HMRC has updated agent guidance for signing clients up to Making Tax Digital for Income Tax, with planned July downtime making it worth checking authorisations, software and client records now.
HMRC says sole traders and landlords required to use Making Tax Digital for Income Tax from April 2026 should sign up now. Small businesses should check thresholds, software and agent authorisations.
HMRC says small businesses continue to represent the largest customer group in the UK tax gap. The practical message for SMEs is to tighten records, Corporation Tax processes and basic controls before errors become costly.
The government has put late payments back on the small business agenda, with the King’s Speech confirming plans for a Small Business Protections (Late Payments) Bill. For many UK SMEs, that could matter more than…