Travel chief warns online sales tax may hit tour operators and agencies hard May 23, 2022 The UK Government’s proposed tax on online sales could have a significant impact on travel businesses, according to accounting company RSM. The proposal, whose first consultation ended on Friday, is expected to level the playing field between physical and online retailers, as well as bringing down the cost of rentals. According to RSM UK’s head [...]
Wages trail inflation as Brits brace for cost of living crunch to enter most damaging spell May 17, 2022 Brits’ spending power is being crimped at a historic rate, but is set to plunge even quicker as the cost of living crunch enters its most damaging period, reveals official figures published today. Regular pay adjusted for inflation dropped at the fastest pace in nearly a decade over the last quarter to March, falling 1.2 [...]
Verdict: Bank of England to keep hiking rates to chase historic inflation spike May 5, 2022 The Bank of England will keep hiking interest rates this year in a bid to chase down the highest inflation crunch since the early 1980s. That’s according to City economists, business groups and think tanks who took today’s decision to lift borrowing costs to their highest level since 2009 as a sign of things to [...]
Accountancy firm RSM consolidates power after buying out former partners April 28, 2022 The board of accountancy firm RSM has made a push to consolidate its power, by taking control of almost all shares in the firm through a buyout of its former partners. The shareholder buyout comes after RSM shareholders launched a coup against the accountancy firm’s ex-board in 2020, following the discovery an almost £10m hole [...]
Brexit-proof: London races ahead of all European tech rivals as record 18,500 new startups flock to the capital April 28, 2022 The number of new tech companies incorporated in London jumped 94 per cent last year, it has emerged. A total of 18,549 tech businesses were incorporated in London in 2021, according to an analysis of data held by Companies House, up from 9,572 in 2020. London accounted for the highest number of incorporations in 2021, [...]
London tech incorporations jump 94 per cent as capital becomes hotspot April 27, 2022 The number of new tech companies incorporated in London jumped 94 per cent in 2021, with the capital becoming a new hotspot for investment.
Oxford St still feeling side effects of Covid as footfall recovery lags behind March 30, 2022 Oxford St has struggled to return to its pre-pandemic glory with football down 46 per cent on pre-Covid levels. Overall, high street footfall levels were down 23 per cent in February, according to an RSM analysis of data from Datscha. International travel restrictions have dampened the numbers of shoppers in central London hubs. Northern shopping [...]
Brits splash on the plastic to uphold spending amid cost of living squeeze March 29, 2022 Brits are scrambling to take on debt to maintain spending amid one of the tightest cost of living crises in a generation, new figures released today reveal. Soaring prices and weak pay growth are making it tougher for households to maintain their existing lifestyles, strengthening incentives to use credit cards to plug budget gaps. Data [...]
City A.M. Awards 2022: Accountancy Firm of the Year March 28, 2022 The City is back, and so are the City A.M. Awards, recognising the best of the Square Mile, Canary Wharf and London’s business community – which has shown shown resilience, innovation and adaptability like never before over the past year. We’re delighted to host what will be a wonderful celebration of the capital’s rebound, but [...]
Russia-Ukraine war to take tax cuts off the table, IFS warns March 10, 2022 Even higher inflation triggered by Russia invading Ukraine will take promised tax cuts off the table, a leading think tank warned today. Surging energy prices driven by concerns over the security of oil and gas supplies amid a ramping up in tensions between Moscow and the West will eat into Chancellor Rishi Sunak’s room to [...]