Posted By Helen Gould
The creative industries contributed £84.1billion to the UK economy in 2014, which is a rise of £7billion from 2013.
The sector grew almost twice as fast as the wider economy, according to figures released by the Department for Culture, Media and Sport.Read more >>
Big Four firm Deloitte has released its latest study identifying trends currently having an important impact on companies across various industries.
The multinational systems designer, integrator and consultant has issued its third Analytics Trends report, which was released on 13th January. The study picks out items of importance for business operation in the accountancy and financial sectors and beyond.
Read more >>
The Eurozone's interest rates remain unchanged after the European Central Bank (ECB) decided to keep them at 0.05% at its latest meeting.
The decision was widely expected, as was the choice to leave the overnight deposit rate at -0.3% after its change last December.Read more >>
In a move that could have repercussions for the UK economy in its own drive towards expanding shale extraction operations, leading firm BHP Billiton has written down the value of its US shale assets by £5bn ($7.2bn).
The news comes on the back of the company having already had to deal with a fatal dam collapse in Brazil and other falling commodity prices.Read more >>
Big Four accountancy firm and business advisors Deloitte say that broadband speeds will get much faster this year, with Gigabit per second connections set to increase by a factor of ten.
Deloitte predicts the changes in the 16th edition of its Global Media Trends publication from the firm's technology, media and telecommunications (TMT) practice.Read more >>
Two prominent accountancy firms in the Midlands have merged to create a new firm that is likely to have a significant impact on the region.
The move, which was first announced in November, has now been completed and sees the merging of PKF Cooper Parry with historic Birmingham accountancy firm Clement Keys.Read more >>
The price of the average house in the UK rose strongly in December, according to the latest survey from Nationwide.
The building society's research revealed a 0.8% increase in value, compared to only 0.1% in the previous month of November.Read more >>
HM Revenue and Customs (HMRC) is planning to improve online security before the 31st of January 2016 deadline for self-assessment tax returns. It advised its customers to “remain vigilant” when filing their returns online.
HMRC will be sending out up to one million emails within the next six weeks, reminding individuals that they will need to file their online self-assessment tax returns by the 31st January. The tax authority also announced its aims to protect its customers from tax scams, which are common around this time of year.Read more >>
Business leaders need to have “mindfulness” over mathematics skills in order to be effective and avoid scandals, according to a report conducted by the Association of Chartered Certified Accountants (ACCA).
The report, titled “CFOs and the c-suite - leadership fit for the 21st century”, stated that traditional leadership training is “out of touch” with the senior business executives of today and that leaders need to be mindful in order to make decisions in “turbulent circumstances”, support self-regulation and avoid toxic stress.Read more >>
Sarah McVittie has offered advice to budding entrepreneurs in her latest column for Elite Business magazine. The entrepreneur shared her experiences of running a start-up, stating that she learned what she should and shouldn’t do when running and growing a business at the same time.
McVittie runs Dressipi, a fashion tech start-up that is based in London, with co-founder Donna Kelly. She brings shareholding and sales experience to the business, while Kelly focuses on the products.
Read more >>
The introduction of the National Living Wage next year is likely to cost UK businesses more than £1bn, according to Government advisors.
The change to the minimum wage laws will mean that companies will have to pay out £804.4m in extra wages and staff costs if estimates by Government advisory body the Regulatory Policy Committee (RPC) are correct.Read more >>
The Treasury's coffers gained £80.5bn in tax contributions from big business in the UK this year, according to analysis by Big 4 firm PwC.
The report, which was made for the 100 Group of finance directors, noted that companies are paying higher rates of tax in spite of the continued reduction in the rate of corporation tax.Read more >>
The introduction of the new Scottish land and property tax regime has been handled well by The Scottish tax authority, says Audit Scotland.
According to a report, which considered how Revenue Scotland performed in delivering the Land and Buildings Transaction Tax (LBTT) and the Scottish Landfill Tax, Revenue Scotland had successfully managed the process and dealt with all the problems that occurred.Read more >>
A revised and updated governance framework has been published by The Charity Commission following an independent review.
The effectiveness of the existing governance framework was the focus of the review, which came about after a recommendation from the National Audit Office.Read more >>
An overhaul of the prospectus rules is being proposed by The European Commission, which says cutting the amount of paperwork required and increasing the thresholds will make things easier for small and medium-sized companies.
Simplifying information for investors to access funding when issuing shares will lead to a lighter regime for smaller companies with less complex prospectuses, the Commission says.Read more >>
Poor overseas trade figures have caused the UK economy to slow down, with the result that household spending is now the main driving force of the recovery.
Official figures from the Office for National Statistics (ONS) revealed that GDP growth fell in the third quarter, standing at 0.5% at a drop from 0.7% in the second quarter.Read more >>
Steel and chemicals industries will be amongst the big users of energy that will benefit from being exempt from paying environmental tariffs.
The announcement was made in Chancellor George Osborne's Spending Review and Autumn Statement and is seen as his response to demands for help for the beleaguered steel industry in the UK.Read more >>
Gaming technology has now been introduced to Deloitte'srecruitment process in an attempt to identify people with certain skills.
Innovation, creativity, and problem solving are the key qualities that the firm looks for in candidates applying for its BrightStart Business Apprenticeship programme. Now an app will play a large role in selecting who is accepted onto the scheme.Read more >>
New research from PricewaterhouseCoopers says that the lettings market will not be adversely affected by the end to some tax relief that landlords can currently claim.
The Big 4 firm found the Government’s reduction of mortgage interest tax relief for landlords is unlikely to stop the continued popularity of buy-to-let in the UK economy.Read more >>
Women have more opportunities to reach senior jobs in the accounting and finance sector than they did a decade ago, says new research by recruitment company Robert Half.
Nearly two thirds of UK finance directors believe that the position has changed over the past ten years.Read more >>
HM Revenue and Customs (HMRC) has issued new guidance to charities regarding the changes to Gift Aid.
The new rules surrounding the tax break, which can be an important source of income for a wide range of charities, are laid out in a new guidance document published by HMRC aimed at helping charities adopt the measures.Read more >>
Accountancy sector brand Sage has launched a new service that lets SMEs make domestic and international payments directly from their software.
Sage Payments will allow small and medium sized businesses to use accounts or payroll systems to make the payments.Read more >>
New UK taxation rules concerning allowances on the value of property to be passed on to descendants could mean that records need to be kept over the span of a generation.
The revised residence nil-rate band that affects the calculation of the level of inheritance tax relief available to families is expected to mean records will need to be kept for far longer periods than ever before.Read more >>
More than one in four of Britain's manufacturing SME's are having their potential for growth held back by a shortage of skilled workers according to a new survey.
MHA, the UK-wide group of accountancy and business advisory firms, has made the claim in its latest annual Manufacturing Survey, which sampled 400 mainly small and medium sized manufacturing and engineering businesses in the UK.Read more >>
Cyber attacks have cost businesses across the world more than £200 billion over the past year, according to new research from Grant Thornton International Ltd.
The Grant Thornton International Business Report (IBR) surveyed 2,500 business leaders in 35 countries and found that in excess of one in every six businesses fell victim to a cyber attack in the past 12 months.Read more >>