Latest News

Today’s news in brief – 10/1/2024

Haysmacintyre has appointed Shimi Shah as its second independent non-executive (INE) director and chair of the leadership board. With 20+ years of global experience in business building, scaling, and innovation across the US, Europe, and the Middle East, Shah will collaborate with the leadership board to advance the partner-owned firm’s business strategy. The appointment aligns with Haysmacintyre’s commitment to investing in its people and enhancing strategic capabilities. Shah joins during a phase of continued investment, marked by 77 promotions, 6 new partners, and a 24% increase in headcount over the past year.

The value of HMRC tax penalties has risen by 25% in a year, reaching a record high of £851 million, reports UHY Hacker Young. With HMRC pursuing around £37 billion in outstanding tax debt, penalties are considered an “easy win.” The penalties are impacting businesses facing financial stress and errors in paperwork. Amid rising interest rates and recession threats, individuals and businesses are advised to appeal, as a significant number of fines are withdrawn upon challenge. Changes to VAT penalties this year have expanded their scope, making them easier to trigger, sometimes due to genuine errors.

Global financial services advisory firm Armstrong Wolfe and IT services provider NTT DATA have formed a strategic partnership to drive innovation in the financial services sector. The collaboration focuses on knowledge sharing, exploring key topics like operational resilience, non-financial risk, emerging risk assessment, and horizon scanning. The partnership, initiated through discussions on their Women’s Business Networks and DEI initiatives, aims to leverage diversity for technological and business transformation. By merging technological innovation with financial advisory expertise, the collaboration seeks to provide tailored solutions and drive positive outcomes for clients in the evolving financial landscape.

Deloitte’s data has revealed that two-thirds of businesses state either unaffected trade or gains elsewhere compensating for Brexit losses. The majority are optimistic about the UK-EU trade relationship, with over half expecting improvement in the next five years. About 54% find the UK’s Free Trade Agreement (FTA) program beneficial, and 62% anticipate a positive impact on economic growth in the next decade. While 59% report lost trade with the EU due to Brexit, this is lower than in 2022. Nearly half believe the EU-UK Trade and Cooperation review will lead to a closer relationship, with improved market access. Over 40% find the Windsor Framework beneficial for businesses in or with Northern Ireland after two months.

Show More
Back to top button