Today’s news in brief – 7/3/2024

Carpenter Box, the Sussex and South East accountancy firm, has announced key appointments post its merger with Jones Avens. Kritina Perry and Alex Chidwick are promoted to client service directors, overseeing audits and financial reporting for diverse sectors. Jordan Abbott joins as associate director, bringing client-facing experience. All three, qualified as responsible individuals, can sign-off audit reports independently. Perry, excited about contributing to Carpenter Box's growth, emphasises the dynamic team. Chidwick looks forward to tackling new challenges, while Abbott expresses delight in contributing to the firm's ambitious plans. CFW Chartered Accountants has promoted Leanne Revie, who started as a trainee over 20 years ago, to associate partner. Qualified as a Chartered Certified Accountant, she returned to CFW in 2019, aiming to provide holistic support to local businesses. Revie's passion lies in offering clients business advice alongside accounting and tax guidance. CFW values her journey from trainee to associate partner, considering her an excellent role model. The firm, founded in 1981 in Kettering, Northamptonshire, recognizes Revie's commitment to client success and business growth. A report by The Young Foundation highlights growing scepticism among professionals, including accountants, about the effectiveness of equality, diversity, and inclusion (EDI) initiatives. The research emphasises concerns that ambitious EDI goals are perceived as mere rhetoric and box-ticking exercises, lacking tangible improvements. The report indicates negative experiences, with 73% reporting barriers or discriminatory behaviour since 2019. Professionals feel excluded from informal networks, with 53% considering leaving their jobs due to EDI concerns. The research advocates urgent prioritisation of meaningful actions to prevent recent progress in EDI from unravelling. Accountancy firms and bodies have expressed mixed feelings about the Chancellor's Spring Budget. The 2p cut to National Insurance contributions is met with surprise, with concerns raised about its impact on the overall cost of living and real-terms wages. Changes in property capital gains tax, stamp duty relief, and the abolition of the non-dom tax status receive varied responses. Some express disappointment in the absence of positive housing interventions. The increase in the VAT registration threshold to £90,000 is welcomed, but caution is advised to mitigate potential impacts on small businesses avoiding higher prices and administrative burdens.