13 May 2025
NHBF survey highlights sector resilience amidst rising pressures – calls for targeted Government support grow
The National Hair & Beauty Federation’s (NHBF) latest State of the Industry survey reveals a personal care sector that remains determined and adaptable, despite mounting financial and recruitment challenges. The April 2025 report, based on responses from over 430 businesses across the UK, underscores the need for targeted Government support to safeguard jobs, training opportunities and the long-term sustainability of high street salons and barbershops.
Making Tax Digital for Income Tax
From 6 April 2026, HM Revenue and Customs (HMRC) is introducing Making Tax Digital (MTD) for Income Tax – a new way of reporting income and expenses from self-employment and property. From this date, some sole traders and landlords will need to keep digital records, using MTD compatible software to submit quarterly summaries of their income and expenses to HMRC. By keeping digital records throughout the year, managing tax affairs will become more accurate, reducing the potential for errors and supporting business productivity and growth.
To ensure a smooth transition, HMRC is currently conducting a testing programme to support taxpayers and accountants to voluntarily sign up and become familiar with the new system before moving to MTD from 6 April 2026.
For further information about MTD for Income Tax, including a series of videos and webinars, visit GOV.UK. To learn more about registering and participating in webinars go to HMRC videos and webinars for Making Tax Digital for Income Tax - GOV.UK.
The Bank of England’s interest rate cut to 4.25%.
The Bank of England Monetary Policy Committee announced on 8 May 2025 that it will reduce the Bank of England base rate to 4.25% from 4.50%.
National Living and Minimum Wage
As an employer, you need to be aware that the National Living and Minimum Wage rates increased on 1 April 2025. Make sure you update your payroll, so your workers get paid at least what they are legally entitled to.
Electrical safety at work
Electricity can be lethal or severely injurious, and it can cause significant property damage. However, taking simple precautions when working with or near electricity and electrical equipment can greatly reduce these risks. Employers have legal responsibilities regarding electrical safety. The Health and Safety Executive (HSE) has published new resources for businesses that outline their legal obligations related to electrical safety in the workplace.
Rise in online criminal activity: advice for sole traders and SMEs
Online criminal activity, including ransomware and data extortion, is on the rise. These types of attacks are becoming increasingly common, and all organizations, regardless of size, need to be prepared. The National Cyber Security Centre offers tailored advice and resources for sole traders, self-employed individuals, and small to medium-sized enterprises (SMEs).
Scotland: The Programme of Government
The Programme for Government outlines the actions the Scottish Government will take over the coming year and beyond. It includes the legislative programme for the next parliamentary year. As part of its Year 5 programme, the Scottish Government intend to introduce six Bills, including one focused on non-surgical cosmetic procedures. This Bill will regulate the delivery of certain non-surgical procedures offered for cosmetic or lifestyle purposes to support the safety of those who undergo the procedures. The Bill will ensure that certain procedures are required to be delivered from suitable premises registered with an appropriate body, and will make provision to support the enforcement of appropriate standards for service providers.