Access To Finance

Company administrations up 6% in 2024

Company administrations rose 6% in 2024, with 1,330 companies calling in advisors in the year, up from 1,259 in 2023, according to data from Kroll. The numbers are significantly higher than years affected by the pandemic when there were 995 (2022), 659 (2021) and 1,068 (2020) respectively. The sector with…

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Today’s news in brief – 18/6/2024

PwC has appointed Jamie Peel as director in its Manchester lead advisory team, enhancing its deals practice. Peel, formerly a corporate finance director at Zeus Capital, will oversee the special situations and restructuring M&A offerings in Northern England. With over 10 years of experience, Peel specialises in public company M&A…

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Next Gov’t ‘must solve productivity problem’, ICAEW warns

The next government must come up with a new plan to “boost economic resilience, end weak productivity and make the UK the best place to start, run and grow a business”, chartered accountancy body ICAEW has said. In a series of recommendations made to all political parties ahead of the…

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ACCA welcomes FRC proposals on improving reporting requirements

Increased clarity and detail on reporting requirements for disclosures of finance arrangements for SMEs could improve businesses’ access to finance and the UK’s late payment culture, ACCA said. Responding to a consultation from the accounting regulator, The Financial Reporting Council (FRC), ACCA said the switch would help businesses at a…

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ACCA urges chancellor to act swiftly on audit reform

Global professional accountancy body ACCA has written an open letter to Chancellor Jeremy Hunt ahead of the Autumn Budget Statement expressing its concerns about UK economic progress for the future. The letter highlights the need for swift completion of the audit reform process, incentivising investment and HMRC service improvements to…

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Today’s news in brief – 16/11/2023

Mazars and Forvis are set to combine their US businesses in a deal creating a global audit and advisory network. Partners from both firms approved the consolidation, establishing a global network called Forvis Mazars. The move extends Forvis’ international reach and enhances Mazars’ presence in the US. Despite the merger,…

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Albert Goodman urges chancellor to boost R&D tax relief for tech companies

South West-based accountancy firm Albert Goodman has called on chancellor Jeremy Hunt to provide some much-needed certainty surrounding research and development (R&D) tax relief for tech companies across the region.  The tech sector continues to play an important role in the South West economy, with many start-ups emerging from leading…

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Today’s news in brief – 6/11/2023

RSM UK has managed the administration of Gilwood, a metal fabrication company in Heywood, Lancashire, specialising in pressure vessels and static process plant equipment. Economic uncertainty, rising interest rates, and material costs impacted the business’s new orders, leading to administration. RSM successfully orchestrated a pre-pack administration sale to DC Norris…

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ICAEW calls for action to boost UK’s productivity and resilience

Ahead of the Autumn Statement on 22 November, the ICAEW has outlined a series of actions that the government should prioritise to increase productivity and resilience.  In a letter to the Chancellor, the institute recommended the introduction of incentives to support sustainable business growth and long-term funding streams for local…

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AAT launches strategy to increase access to finance careers

The Association of Accounting Technicians (AAT) has announced the launch of a new strategy to increase access to finance careers and to develop an inclusive community of accounting professionals who have the skills to support business and economies. This strategy, which was launched at the AAT’s digital event last week,…

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