Today’s news in brief – 28/10/2024

A FreeAgent survey reveals that over half of accountants prioritise tax reforms to support small UK businesses, calling for reduced taxes and stricter regulation on tax evasion by multinationals. Conducted with 337 accounting professionals, the survey highlights desires to simplify VAT and IR35 regulations and suggests statutory protections for the self-employed. Over 50% of respondents also advocated for incentives to help SMEs navigate the cost-of-living crisis. The majority of accountants are sceptical about the government’s readiness to implement digital tax initiatives, though most believe they are prepared to adapt if reforms proceed as planned. Interpath’s FY24 financial results showcase a record operating profit of £26.9 million, reflecting a 301% growth. Revenue also climbed by 15% to £153.6 million, fueled by expanded global advisory services and increased restructuring revenue. The firm, now operating across 21 global locations with 900 staff, appointed Tamara Box as chair following John Connolly’s departure. CEO Mark Raddan emphasised the continued expansion of Interpath's global network and highlighted the firm’s momentum in client wins and restructuring services. He remains cautiously optimistic about future economic trends and anticipates continued demand for advisory and restructuring services. The ICAEW announced significant changes to its ACA qualification, set to launch in September 2025, to better integrate technical learning and professional experience. With feedback from global stakeholders, the updated program will emphasise business, finance, and accountancy knowledge, alongside new ethics, technology, and sustainability modules. The revised qualification will feature 14 integrated exams and flexible online learning for early-career upskilling. ICAEW CEO Alan Vallance emphasised the need for a modern qualification reflecting today’s business environment, aiming to sustain the ACA’s reputation. Current students will have a choice between completing the existing or new curriculum during the transition. Oliver Gale has joined Azets’ London office as regional business development director, transitioning from a similar role at KPMG. Based in London Bridge, Gale aims to expand Azets’ footprint in the capital and elevate brand visibility. He emphasises a client-focused approach, building strong relationships to drive revenue growth. Azets leaders view Gale as instrumental to the firm’s current five-year strategic growth initiative. His addition is expected to reinforce client acquisition and revenue growth across the region, contributing to Azets’ broader goals of sustaining momentum and driving long-term development in London’s competitive market.