UK company size thresholds have increased with effect for periods commencing on or after 6 April 2025. This change was initially announced in 2024, and has now come into force after a delay caused by the change in government last year. The new thresholds have reduced...
New UK car sales exceed 1 million for first time since the pandemic Car sales statistics for new UK car sales exceed 1 million in the first half of 2024. The first time this has happened since the pandemic, providing optimism for the car market. Business and Fleet...
The manufacturing sector is at a crossroads. A very innovative industry with undertaking significant technical advancement but struggling with growth limiting skills shortages. This is a problem that needs to be addressed as the potential of the manufacturing industry...
Challenges for the manufacturing sector in 2024 As we start 2024, the manufacturing industry finds itself at a crossroads of various customer demands, technological advancements and sustainability imperatives. Whilst this may present opportunities, it will also leave...
The Financial Reporting Council (FRC) has decided to push back its timetable for drafting changes to FRS102 and other financial reporting standards. Originally, it was thought that the final amendments would be ready in the first half of 2024 and be effective for...
UK manufacturers are requesting that the Chancellor, Jeremy Hunt, announces an overhaul of the UK’s business tax and regulatory rules in the Autumn Statement to boost investment plans. The call from manufacturers to make these changes came from a survey that was...
The UK manufacturing sector has overtaken France in the world rankings and now sits in eighth place according to official data published by Make UK. 2021 is the latest year for which global manufacturing output are available. This data shows that the UK’s...
Managing and investing charity funds is a delicate balancing act. Trustees have a responsibility to ensure that funds are invested in a manner that aligns with the charitable purpose of the organisation whilst maximising returns. On 1st August 2023, the Charity...
On 16th May, the IASB published guidance regarding the effects of climate related matters on financial statements prepared in accordance with the IFRS for SMEs financial statements. Full guidance can be found here. The guidance contains examples of areas where...
The government is currently consulting on various options to simplify non-financial reporting rules indicating consideration of the appropriateness of the current company thresholds. The Department for Business and Trade (DBT) and Financial Reporting Council (FRC) are...
Whether mandated by statutory, or if your company falls below the Companies Act size threshold for an audit, there are many benefits to conducting an audit of your financial statement. Although many organisations see audit as a necessary compliance evil, many entities...
There have been UK skills shortages for some time, particularly across the manufacturing and engineering sectors. However, since the pandemic, these skills shortages have spread into other sectors, including hospitality and professional services. In this article, we...