Over 1,600 UK business owners have chosen to initiate members' voluntary liquidations this month in order to avoid expected tax increases. This number is more than double the total for October of the previous year, indicating a growing trend among solvent entrepreneurs to close their companies before the upcoming budget changes.

The increase in liquidations reflects widespread concerns about potential increases in levies on business owners, prompting many to take proactive measures. With the government set to announce its budget, the financial landscape for entrepreneurs is becoming increasingly uncertain, leading to a wave of closures aimed at reducing future tax liabilities.