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Today’s news in brief – 26/2/2024

MHA has appointed Dianne Azoor Hughes, Mark Goodey, and Tim Davies as its first independent non-executives (INEs), aligning with the Audit Firm Governance Code. Hughes, an Australian governance expert, Goodey, former Deloitte UK partner, and Davies, ex-head of tax at Mazars, join governance bodies overseeing MHA’s audit practice, emphasising the commitment to quality, integrity, and public trust. Chairman Rakesh Shaunak praises their experience, expecting valuable insights for strategic growth.

Evelyn Partners’ Core Managed Portfolio Service rebalances, has introduced UK government bond exposure and US equity positions. The move involves strategic adjustments, increasing US equities, reducing UK and European equities, and focusing on government bonds. Lead manager James Burns emphasises the appeal of government bonds amid market noise and notes the importance of tailored exposures for resilience in various market conditions.

BDO’s bi-monthly research has highlighted challenges faced by mid-sized businesses (£10m – £300m turnover). Over 50% cite operating costs and borrowing expenses as top challenges, hindering expansion plans for half the companies. Accessing new financing emerges as a significant challenge for over 40%. Businesses seek Budget changes to enhance capital access, tax reforms, and address skill shortages. Calls include enabling smaller banks, pension fund investments, apprenticeship levy reforms, and streamlined business taxation. Despite challenges, businesses prioritise UK and international expansion and investments in products, services, and technologies.

Newport-based Kilsby Williams has promoted Lucy Creese and Kaye Morris to tax team directors and Zak Wright to Business Services team director. Creese and Morris, corporation tax specialists, handle compliance and planning for SMEs. Wright, a chartered accountant, focuses on financial audits, accounts, and due diligence. The new directors aim to provide astute advice, identify planning opportunities, and lead growing teams. Simon Tee, Managing Partner, expresses delight in recognizing their contributions and expects their continued success in the new roles.

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