News-In-Brief

Today’s news in brief – 21/1/2025

David Allen has promoted Amy Muirhead, a chartered accountant, to associate, recognizing her expertise and contributions since joining in 2017. Based in Dumfries, Muirhead has supported businesses and individuals in areas like accountancy, IT, and financial services. She will continue to offer strategic client support while shaping the firm’s future. This promotion highlights David Allen’s commitment to nurturing talent, as it seeks to expand with new skilled advisers and apprentices. Managing partner Alison Welton praised Muirhead’s dedication, saying it has been integral to the firm’s growth. Muirhead expressed excitement about her new role and ongoing client support.

Company administrations increased 6% in 2024, with 1,330 cases compared to 1,259 in 2023, reflecting ongoing financial strain. Manufacturing saw the largest year-on-year increase (20%), while recruitment businesses rose 53%, and media/tech companies surged 50%. Challenges like high energy costs, supply chain issues, and declining advertising revenue impacted several sectors. Although inflation eased and base rates were cut, small to mid-sized businesses continue to face struggles, with insolvencies in retail and hospitality expected to rise in 2025. Restructuring expert Benjamin Wiles urged companies to plan ahead as wage hikes and higher taxes could exacerbate financial challenges.

PKF Smith Cooper has appointed Megan Jones as employment tax senior manager in Birmingham. With seven years of experience, including five at HMRC, Jones specializes in risk reviews, compliance, and navigating HMRC investigations. She has worked across sectors like automotive, IT, and real estate. In her new role, Jones will provide compliance support and tailored solutions to clients. Employment tax director Jack Bonehill highlighted Jones’ expertise as vital to the firm’s tax team expansion. Jones expressed enthusiasm for supporting clients and joining a growing team focused on delivering comprehensive tax solutions to businesses across industries.

Dext has launched a global integration with Zoho Books, an HMRC-recognized accounting software. This partnership aims to automate bookkeeping, allowing users to capture receipts, automate expense categorization, and improve reporting accuracy. The integration reduces manual work and enhances data accuracy, helping businesses streamline financial operations. Dext CEO Sabby Gill described the collaboration as a milestone in modernizing bookkeeping. Zoho’s finance head, Prashant Ganti, emphasized the efficiency gains from this partnership. Trusted by over 12,000 firms and 700,000 businesses worldwide, Dext and Zoho Books together aim to simplify financial management and boost productivity for businesses globally.

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