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What is changing in business finance

A short briefing on the 1st and 15th of each month, and more often when something big changes, on the law, tax and government schemes behind each way to raise money. Each item has a primary source and the date it was checked.

Updated 1 November 2026Next briefing: Sunday 15 NovemberFollow by RSS
Latest briefing

What the Budget changed for raising money

The Budget on 28 October 2026 kept the SEIS and EIS limits, plans to drop the R&D claim notification, raises a capital allowance and gives the British Business Bank more money. E-invoicing starts in April 2029.

  1. budget

    SEIS, EIS and VCTs: no change to the limits, simpler rules and advance assurance promised

    The Budget on 28 October 2026 made no change to the limits of the Seed Enterprise Investment Scheme (SEIS), the Enterprise Investment Scheme (EIS) or Venture Capital Trusts. The Government said "technical improvements" will make the schemes simpler to use, that HMRC will work with industry to modernise advance assurance, and that it will act on excessive fees, working with the FCA to make fees clearer. No details have been published yet.

    For a company raising money from investors who want SEIS or EIS tax relief, the current rules and limits still apply. Watch for the details in the Finance Bill.

    Routes: Angel investment, Equity crowdfunding, Advance subscription agreement (ASA), Convertible loan notes (CLNs), Venture capital

    1. HM Treasury: Entrepreneurship in the UK: Start. Scale. Stay. Prospectus (Budget 2026), paragraphs 3.15 to 3.17 · checked 1 November 2026
  2. budget

    R&D tax relief: the claim notification form is to go from 1 April 2027

    The Budget says the claim notification form for R&D tax relief will be removed from 1 April 2027, so companies will no longer need to tell HMRC in advance that they plan to claim. The additional information form will be simplified from autumn 2027. The rates of relief are unchanged. This is not law yet.

    Until the change is law, the current rules on claim notification still apply.

    Routes: Research and development (R&D) tax relief

    Calculator: R&D tax relief estimate

    1. HM Treasury: Budget 2026, Table 6.1 (measure 27) · checked 1 November 2026
    2. HM Treasury: Entrepreneurship in the UK: Start. Scale. Stay. Prospectus (Budget 2026), paragraph 3.8 · checked 1 November 2026
  3. budget

    Capital allowances: first-year allowance to rise to 50% from 1 January 2027

    The Budget says the main-rate first-year allowance will rise from 40% to 50% for spending from 1 January 2027, and the main-rate writing-down allowance will fall from 14% to 12% from April 2027. These are not law yet.

    Capital allowances let a business take part of what it spends on equipment off its taxable profits. A bigger first-year allowance means more tax relief in the first year on some equipment, which changes the after-tax cost of buying it outright or on hire purchase.

    Routes: Capital allowances, Patent Box and creative-industry reliefs, Asset finance (hire purchase and leasing)

    Calculator: Hire purchase or lease

    1. HM Treasury: Budget 2026, paragraph 3.9 and Table 6.1 (measure 58) · checked 1 November 2026
  4. scheme

    British Business Bank: £5 billion more, including a new venture debt product

    The Budget gives the British Business Bank £5 billion more capacity, taking it to £30.6 billion. The Government says this lets the Bank deliver a £6.5 billion expansion of the Growth Guarantee Scheme, £165 million for community lenders, £1.4 billion to invest in equity funds and £450 million for a new venture debt product. The Bank is also to design the next Nations and Regions Investment Funds with mayors and the devolved governments.

    None of the new products has opened yet, and no terms or launch dates have been published. Until they are, the routes stay as they are.

    Routes: Growth Guarantee Scheme, Community development finance (CDFI) loans, Venture debt, Venture capital, British Business Bank regional investment funds

    1. HM Treasury: Budget 2026 · checked 1 November 2026
    2. HM Treasury: Entrepreneurship in the UK: Start. Scale. Stay. Prospectus (Budget 2026), paragraphs 3.34 to 3.38 · checked 1 November 2026
  5. deadline

    E-invoicing: VAT-registered businesses must use it from 1 April 2029

    HMRC and HM Treasury published the e-invoicing roadmap on 28 October 2026. From 1 April 2029, businesses and other bodies registered for VAT, including charities and public bodies, will need to send and receive VAT invoices as e-invoices, unless an exemption applies. Businesses that are not VAT-registered do not have to, but can choose to. The full rules on scope and standards are due between October 2027 and April 2028, and the main law is expected to pass in spring 2027.

    Electronic invoices are dated and easy to check, which could make invoice finance and claims for late payment simpler to back up. Nothing changes for now.

    Routes: Invoice factoring, Invoice discounting, Selective and spot invoice finance, Supply-chain finance (reverse factoring), Statutory late-payment interest and compensation

    1. HMRC and HM Treasury: Roadmap for e-invoicing implementation (28 October 2026) · checked 1 November 2026
  6. law

    Late payment bill passes the Lords and reaches the Commons

    The Commercial Payments Bill had its third reading in the House of Lords on 20 October 2026 and its first reading in the House of Commons on 21 October. No date has been set for its second reading in the Commons. It is not law yet.

    When the bill was introduced, the Government said it would cap payment terms for large firms at 60 days and make late-payment interest mandatory. Until it passes, the current rules on late-payment interest and compensation apply.

    Routes: Statutory late-payment interest and compensation, Supplier trade credit (negotiated payment terms), Invoice factoring

    Calculator: Late-payment interest and compensation

    1. UK Parliament: Commercial Payments Bill [HL], bill stages · checked 1 November 2026

Coming up

As of 1 November 2026. Dates set by others can move.

  1. Bank of England rate decision (source)

  2. Bank of England rate decision (source)

  3. Bank Referral Scheme: industry proposals due (source)

    Bank term loan

  4. The base rate on this day sets late-payment interest for debts late from 1 January 2027 (source)

    Statutory late-payment interest and compensation

  5. Main-rate first-year allowance planned to rise to 50% (not law yet) (source)

    Capital allowances, Patent Box and creative-industry reliefs

What we are tracking

Longer-running changes that could alter a route. Open one to see where it stands.

When one of these changes a route's facts, the change is recorded on What has changed.

Earlier briefings

Briefings describe types of finance and public rules. They never name or promote a firm, a campaign or an investment.