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  • Economic update: the UK economy faces a difficult road ahead

    economy is feeling the effects of growing domestic and international headwinds as GDP slows and inflation continues Notable differences in sector performance The service sector was the biggest contributor to GDP growth Eight of the 14 services subsectors contributed positively to growth with information and communication firms (which includes computer programming) the largest positive contributor. In contrast, industrial production fell by 0.3% in the latest quarter, following a 1.3% increase in Q1

  • New standard for firms certifying AI management systems

    AI systems have unique characteristics such as continuous learning and adaptability, which can create audit, including the competence of the auditor, the suitability of audit procedures and the quality control Increasing demand for independent assurance, and the continued spread of AI technologies across industry The new standard further provides criteria for establishing, implementing, maintaining and continually

  • Companies may have claimed marginal relief in error

    A company is associated with another where one controls the other or both are under common control. However, the broad definition of “control” means that the rules can be difficult to apply in some circumstances position and take one of the following actions within 30 days from the date of the letter:  where a return contains an error and is in time to amend, the company should amend the return ; where a return contains an error or where the company believes that its returns are correct, the company should inform HMRC using the contact

  • OECD Downgrades UK Growth Forecast, Citing Debt and Trade Barriers

    Different to the IMF To place their comments in context, the OECD’s growth forecast is still higher than

  • Spending Review 2025: Takeaway Points for Your Business

    You could do this by questioning whether each cost is still serving the business. Everyone is Under Pressure with Costs Public sector pay rises in education and healthcare are being part-funded This provides a reminder that cost pressures are widespread and efficiency will be a watchword in public contracts and procurement. types of projects get greenlit and how quickly - something worth watching if you’re bidding for public contracts

  • WWII accountants: Lieutenant-Colonel William Harris-Burland

    His experience abroad, ability to speak several languages, extensive contact list and great business It was a think tank for developing ideas on clandestine warfare in continental Europe which, in 1940, Harris-Burland was taken out of active duty in April 1946, but his love of the continent saw him join He served as Deputy Controller in the Economic section and Head of the North German Iron and Steel Control Buying up ships to stop the Germans from transporting oil sounds uncannily contemporary.”

  • Scaling up: how to build flexibility into your strategy

    Instead, they should include multiple scenarios, contingencies and triggers for reassessment. “Make sure that those processes and controls are scalable, so that as you get bigger and you’re not able to have sight of everything, you’ve got the processes and controls in place to know that your data is and you’ve got to grow quickly to be able to cover that cost. “Flexibility in scaling comes from designing systems that can expand and contract with market demands

  • Chart of the week: Energy price cap

    Despite the significant fall in energy prices from their peak in the first quarter of 2023, the cap continues to be much higher than it was before the pandemic and the cost-of living crisis. energy prices appear to have stabilised at around the current level over the past couple of years, there continue

  • Companies encouraged to review loan relationships

    importance of testing the asserted purposes of the loan relationship against the evidence, especially the contemporaneous HMRC says that it will “continue to investigate and challenge cases” where it believes “the facts, circumstances

  • Warning: 31 July deadline for paying income tax and NIC

    The normal due date for paying income tax and class 4 national insurance contributions (NIC) under self

  • Emissions Cutting Trial to Benefit Hospitality Businesses

    The trial will put hospitality business owners in direct contact with the expertise of trusted energy

  • Why You Shouldn’t Ignore Old Tech: New Guidance from the NCSC

    This helps you stay in control, especially if you’ve tried out different tools over the years. ·    Back

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