Budget 2020: What does the Red Box mean for UK tech firms? March 11, 2020 Chancellor Rishi Sunak today unveiled a raft of new fiscal measures as he vowed to deliver on the government’s promise of “levelling up” the UK. Sunak, who took over at No 11 just a month ago, put the coronavirus front and centre of his new policies as the number of cases continues to rise. But [...]
Budget 2020: Sunak commits to an increase in R&D spending March 11, 2020 Chancellor Rishi Sunak has increased tax relief for companies that carry out qualifying research and development (R&D) in his Budget today. The measure increases the rate of the R&D expenditure credit from 12 per cent to 13 per cent. The expenditure credit is a standalone credit that is brought into account as a receipt in [...]
Bad weather and coronavirus fears hurt high street sales March 10, 2020 Bad weather and coronavirus fears kept UK shoppers away from the high street last month, while streaming services and takeaway firms benefited from Brits staying at home. Consumer spending was up 2.2 per cent year-on-year last month, driven by digital subscriptions and takeaways as Brits stayed home to avoid storms and coronavirus risks. More than [...]
Lord Ashcroft’s Devonshire Club at risk of closure as coronavirus stalls takeover March 9, 2020 An exclusive private members’ club co-owned by Tory peer Lord Ashcroft is fighting for survival after a planned takeover deal collapsed due to the coronavirus outbreak. The Devonshire Club, close to Liverpool Street station in the City, had agreed terms with an unnamed buyer, with the deal set to complete this week. However, the firm [...]
Serious Fraud Office looking at Lloyds Bank and KPMG claims March 8, 2020 The Serious Fraud Office (SFO) is reportedly examining allegations that Lloyds Banking Group and KPMG drove a property group into administration by saddling it with fees. Fraud office investigators have been interviewing witnesses over claims the Angel Group was deliberately driven into liquidation, the Telegraph reported. According to the report, the SFO has not launched [...]
Lord Ashcroft’s Devonshire Club set to appoint administrators March 8, 2020 A luxury private members’ club co-owned by Tory peer Lord Ashcroft could be on the brink of insolvency after launching a hunt for administrators. The Devonshire Club, close to Liverpool Street station in the City, has filed notice with the High Court of its intention to appoint an administrator. It has also hired insolvency experts [...]
UK jobs market strengthens but IR35 looms March 6, 2020 UK companies took on permanent workers at a solid rate in February, survey data has shown, even as temporary billings fell ahead of upcoming IR35 legislation changes. The UK jobs market performed well in 2019 despite business investment and trade suffering under the weight of Brexit uncertainty. There were some signs it was beginning to [...]
Long awaited audit reforms could start this year, says audit watchdog boss March 5, 2020 The long-promised reform of the UK audit sector could start this year with voluntary changes by the Big Four accounting firms, the audit watchdog said today. The collapse of outsourcer Carillion in 2018 prompted three reviews of the sector and two years on there have been calls from MPs and industry figures to speed up [...]
From Russia with kefir: How Biotiful Dairy sold a new drink to the British public March 2, 2020 How do you convince the British public to try a whole new food category, especially when it doesn’t sound very appealing at first glance? That was the challenge facing the Russian-born entrepreneur Natasha Bowes when she decided to try to start selling kefir in the UK. Kefir is a type of fermented milk drink made [...]
Big Four continue to dominate FTSE 100 despite growing pressure March 2, 2020 The dominance of the Big Four serving the FTSE 100 continued in the first quarter despite growing regulatory pressure. The Big Four were the only auditing firms to serve the FTSE 100 last quarter with PwC retaining the top spot with 27 clients, closely followed by KPMG’s 26. Deloitte and EY served 25 and 22 [...]