Last week (July 2025), I sat down with the new Prime Minister, Keir Starmer, to talk about the real experiences of UK business owners and I want to share what came from that conversation.
If you’re running a limited company or self-employed business in the UK, you’ve probably felt the squeeze of rising costs, unclear tax policy, and ongoing uncertainty. This latest change, publicly credited by Keir as being shaped by my conversations with him and Rachel Reeves at No.10, could be a turning point for how policy supports small businesses.
In this blog, I’ll break down what was discussed, what’s changed, and what it might mean for your business.
Why this change matters
For months, we’ve been raising the same concerns with Downing St on behalf of our clients:
- Why are the tax rules so hard to navigate?
- Why do so many policies punish growth, rather than support it?
- Why isn’t small business success celebrated or even understood by HMRC and policymakers?
Keir acknowledged these frustrations directly in our meeting, and highlighted that recent policy changes were made in direct response to these conversations, conversations that happened across the table from me and Rachel Reeves inside No.10.
That matters. Because it shows that lived experiences from business owners are finally shaping the way the government is listening, responding, and legislating.
@accountant_she Yesterday a package of support was announced for small businesses in the UK and I was able interview Sir Keir Starmer to find out exactly how this support will come to life and what we can expect to see next. This is a huge moment for small business owners, and a huge personal milestone too 🥹 For the past year, I’ve been working behind the scenes with Downing Street, sharing insights from my work as an accountant, a founder, and someone who supports thousands of business owners across the UK. I’ve been able to share the issues I see first hand that impact us all, work with the Prime Minister, Rachel Reeves and Downing Street on what business owners need, and for me this announcement addresses some of the most critical. Here’s what you need to know from the announcement: ✨ The UK is introducing the toughest late payment laws in the G7 ✨ Large companies will face fines worth millions if they don’t pay small suppliers on time ✨ A 30-day invoice verification period and maximum payment terms reducing from 60 to 45 days ✨ Interest charges will be mandatory for late payers ✨ And 69,000 new Start-Up Loans are being rolled out as part of a £4bn finance package This is an issue that’s been hurting small businesses for far too long. 38 businesses close every single day because of late payments. I’m proud to have played even a small role in helping to turn the tide. Baby Rach would never have dreamed that she’d be able to be so passionate about business that she’d be able to work directly with government to make such huge changes for businesses everywhere. This is a long road and we have a lot to do to make running a business in the UK look and feel rewarding but this is huge step forward to keeping so many business IN business and to creating 69,000 new businesses 🥹🤍
♬ original sound - Rachel @accountant_she
What’s changing
— and what you need to know
While full details will come in the Autumn Budget, here are three early commitments that came out of our conversations:
- A shift towards simpler, more transparent tax systems –The goal? To reduce the burden of navigating tax as a small business owner. Expect clearer guidance, better digital tools — such as those being rolled out under HMRC’s Making Tax Digital programme — and policy designed with founders in mind.
- An emphasis on rewarding long-term, sustainable growth – Keir and Rachel are focused on creating an environment where small businesses are encouraged to reinvest, create jobs, and grow — without being penalised through opaque tax rules or aggressive compliance activity.
- A new approach to HMRC accountability and tone – There was a clear recognition that HMRC’s communication and approach must change. Keir agreed that business owners deserve clarity, respect, and support — not fear, complexity, or silence.
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What you can do next
For months, we’ve been raising the same concerns with Downing St on behalf of our clients:
- Why are the tax rules so hard to navigate?
- Why do so many policies punish growth, rather than support it?
- Why isn’t small business success celebrated or even understood by HMRC and policymakers?
Keir acknowledged these frustrations directly in our meeting, and highlighted that recent policy changes were made in direct response to these conversations, conversations that happened across the table from me and Rachel Reeves inside No.10.
That matters. Because it shows that lived experiences from business owners are finally shaping the way the government is listening, responding, and legislating.
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