The sight of a hostile regional superpower launching an overnight raid to depose the leader of a smaller neighbouring country could easily have sent pulses in Taiwan racing. The US on Saturday revealed the details of a surprise raid to capture Venezuela’s leader, Nicolás Maduro, who was whisked away to the US, where he was frogmarched into a court in New York on Monday. Commentators in China immediately drew comparisons to how an assault on Taiwan could play out. China, a country with more than 1.4 billion people and the world’s biggest armed forces, has long had designs on Taiwan, a self-governing island of 23 million in its back yard. The imbalance in power is comparable to that between the US, which possesses the world’s most powerful army, and Venezuela, a small, middle-income country of just 30m which, like Taiwan, relies on friendly countries for its defence.
Taxes boom for new year
Businesses to receive boost to investment as a new first-year allowance takes effect from Thursday 1 January as the government continues its drive to make Britain the best place to do business. Businesses to benefit from new 40% first-year allowance that supports investment and growth – effective from today, 1 January 2026 New relief allows businesses to save tax on new plant and machinery in first year. Supports UK’s position as one of the most generous and competitive capital allowances regimes in the world. First announced by the Chancellor at Budget 2025, the government is continuing to offer greater upfront tax reliefs for businesses with a new 40% permanent first-year allowance for main-rate plant and machinery. This new relief follows calls from businesses to expand full expensing to more assets and businesses and will mean businesses can deduct much of the cost of their investment in the year they make that investment, cutting their tax bill. Full expensing allows companies to claim 100% capital allowances on qualifying main rate plant and machinery investments, such as warehouses or construction equipment, which means a company can deduct the entire cost of its investment from its taxable profits in year one, so that for every pound invested its taxes are cut by up to 25p. The UK has one of the most generous and competitive capital allowances regimes in the world and is top of the rankings of OECD countries for plant and machinery capital allowances. In line with the commitments made in the 2024 Corporate Tax Roadmap, the government has maintained the parts of the UK Corporate Tax offer that are most important for attracting new investment. This includes capping Corporation Tax at 25% for the rest of this Parliament, the lowest in the G7, and the generous full expensing offer.
New Immigration rules from 2026
New applicants for Skilled Worker, Scale-up and High Potential Individual visas will need B2 English (a higher standard than the current B1) from 8 January 2026. The changes to permanent residence rules are planned to begin in April 2026. Now, as we enter 2026, the UK immigration landscape is undergoing its most significant transformation in over three decades. The government’s proposed immigration reforms, including measures to reduce net migration and strengthen border controls, outlined in the May 2025 white paper, “Restoring Control Over the Immigration System,” will continue to be implemented throughout 2026. For individuals, families, employers, and immigration practitioners alike, understanding these changes is essential for planning and compliance.
