Al Keve

Companies in England and Wales experienced a sharp fall in insolvencies in March, however, the retail and hospitality sector remains badly hit. My colleague at FTI Consulting, Lindsay Hallam, commented that whilst slowing inflation and the rise in the national living wage should “generate a positive response from consumers”, we should remain cautious as many businesses may find it challenging to absorb the higher wage costs. Read more in the Financial Times (subscription required). #insolvency #corporatefinance #expertswithimpact

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For around a decade, PwC UK has been transforming operations to accelerate its own #GenAI journey. Their first GenAI client was in fact themselves - they became Client Zero. They've learned when to build bespoke technology, and when to buy. And they know that change management is just as important as the technology estate itself. Watch the full video to find out why you shouldn't be stalling on GenAI: https://bit.ly/4e2JUia #HumanLedTechPowered #ResponsibleAI

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Lots of change on the horizon in the UK tax system for those with foreign income and gains. Lots to think about and take in over the coming months as this plays out under the new Labour government.

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The Autumn Budget brings good news regarding R&D Tax credits and Patent Box. Bringing stability and certainty to businesses planning future R&D spend. Increased budgets for DSIT, Department of Energy Security & Net Zero and Department of Business and Trade is welcomed to turbocharge green projects and invest in a new industrial strategy. My latest blog goes through the detail, including an update on HMRC’s compliance activities 👇

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This is worth a read given if UK is to see growth under the new government we need an industrial strategy .It's astonishing that the UK lacks an industrial strategy - so this intervention by PwC UK is very welcome. New senior partner Marco Amitrano has set out in no uncertain terms what business leaders need to see from the new Government. Read his The Times article.. #IndustrialStrategy #Growth #PwC

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The deadline for submitting paper self-assessment tax returns for the 2023-24 tax year is 31 October 2024. If the return is submitted late, a £100 penalty will be imposed, regardless of whether there is a tax liability or if any owed tax is fully paid by 31 January 2025. #Tax #HMRC #SelfAssessment

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It's astonishing that the UK lacks an industrial strategy - so this intervention by PwC UK is very welcome. New senior partner Marco Amitrano has set out in no uncertain terms what business leaders need to see from the new Government. Read his The Times article.. #IndustrialStrategy #Growth #PwC

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https://lnkd.in/eX4MghJ9 The last time I looked there was only one way of judging corporate failure, that being insolvency. And where you have Corporate failure the officers of that entity face investigation. Seeking to add layers of "responsibity from afar" is just further politicising the issue and further damaging the culture. Lets all generate another set of scape goats to take the blame for a broken system rather than accept the system is broken. #NHS, #NotFitForPurpose,#NFFP

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An excellent article by Benjamin Craig which will be of interest to many of our construction clients and companies in their supply chain. Please do get in touch if you would like to discuss.

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📅 On Wednesday 27 November, Risk Consulting Partner at Forvis Mazars in the UK, Matt Dalton will be joined by the firms Chief Economist, George Lagarias, for their latest Risk and Governance Forum. They will explore the impact of the UK budget on the economy and the potential impact of the new government in the US. Sign up now ➡ https://lnkd.in/eFypaeMR #RiskManagement #Government #Webinar #RiskConsulting

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📅 On Wednesday 27 November, Risk Consulting Partner at Forvis Mazars in the UK, Matt Dalton will be joined by the firms Chief Economist, George Lagarias, for their latest Risk and Governance Forum. They will explore the impact of the UK budget on the economy and the potential impact of the new government in the US. Sign up now ➡ https://lnkd.in/ei9aq_ks #RiskManagement #Government #Webinar #RiskConsulting

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Driving UK Economic Growth: The Rise of Professional Services in 2024 🚀 The professional services sector—including legal services, architecture, R&D, and consultancy—has been a key driver of UK economic growth in 2024, as highlighted by the Financial Times. Growth Figures 📈 In the three months leading to September, the sector expanded by an impressive 3.9%, far surpassing the broader economy’s 1.3% growth. Since pre-pandemic levels, its output has soared by 16%, leaving the overall UK economy’s 3% growth in its wake. Legal Services Dominate Globally ⚖ With a global talent pool and widespread adoption of English law, UK legal services continue to lead on the world stage. Architecture Goes Global 🏗 UK architecture firms are making waves internationally, boasting a 25% increase in overseas revenues this year—a true testament to their creativity and expertise. R&D: The Fastest-Growing Force 🔬 Leading the charge is scientific research and development, pushing innovation boundaries and setting the pace for the future. This success story showcases the resilience, innovation, and global reach of the UK’s professional services sector—a true engine of economic growth. What are your thoughts on the future of professional services in the UK? Let’s discuss! 👇 #UKEconomy #ProfessionalServices #EconomicGrowth #Innovation #LegalServices #Architecture #ResearchAndDevelopment #BusinessLeadership

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🔍 My latest contribution to Taxation magazine for a Q&A on............... the *oh-so-exciting* topic of a HMRC consultation document & draft legislation - "THE #CARF and #CRS 2 consultation: outcomes, implications & next steps." but hear me out.... 🔍 The Crypto-Asset Reporting Framework (CARF) is shaping up to be a real game-changer for #HMRC, offering unprecedented visibility into crypto transactions. Sure, this also means more work for intermediaries (RCASPs do need to understand who they are reporting to and what they are reporting on), but the added transparency could be incredibly valuable for the industry as a whole. For anyone else excited by this, pls share your thoughts below! A link to the article: https://lnkd.in/dcPW8gzK for subscribers.

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Certainly a question that is becoming more common ….. if I sell my business and then leave the UK does this mean I don’t have to pay CGT? 🤔 The rumour mill has been turning at some pace regarding CGT rises over the last 2 months. It’s hardly surprising given the government’s comments and also the reality that the increased tax take needs to come from somewhere. But how easy is it to genuinely up sticks and leave? Could you manage if you were only allowed to return to the UK for potentially a handful of weeks each year, especially if you retain an interest in the business? And importantly where do you go and what are the tax implications in the jurisdiction you go to?? Understanding your options and mapping out the impact will be vital to avoid making costly and complicated mistakes. Find out more 👀 ➡️ https://lnkd.in/ewq_uecb https://lnkd.in/ePk6X8-i

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I’m a massive advocate for entrepreneurs and their incredible creative mindset. They make an incredible contribution to our UK economy and are the backbone of economic growth. Our EY team recently had the opportunity to speak with Roger Wade, Sachin Dev Duggal, Sinéad McHale, Dominic McGregor, Sumir Karayi and Paul Faulkner about the impact entrepreneurs make in the UK. Here are some of the points they mentioned: 📊 They’re key growth drivers for our economy. 💼 They create jobs. 🤝 They build communities and change lives. Watch the full video below to hear more about their incredible impact, some of their insights may surprise you. #ArtOfEntrepreneurship #EOYUK #BetterWorkingWorld

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The Financial Reporting Council (FRC) has published retail sector focus findings as part of their Annual Review of Corporate Reporting. PwC UK's ‘In brief’ sets out retail-specific observations which the FRC identified. 🔍 Explore our guidance, which applies to all retail entities that prepare financial statements, for insights: https://pwc.to/3TSZyFA #Viewpoint #FRC #CorporateReporting

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A raft of changes announced yesterday especially in relation to capital taxes. AUTUMN BUDGET ’24: CGT & BADR CHANGES 💼   From today, the lower rate of Capital Gains Tax (CGT) will increase from 10% to 18%.   The higher rate of CGT will increase from 20% to 24%.   The rates for sale of residential property remain unaltered.   The ‘carried interest’ CGT rate is increasing to 32% from April 2025, with further reform from April 2026 to tax it under income tax. ‘Carried interest’ is a share of the profits generated by an investment fund, paid out to the fund’s investment managers.   Business Asset Disposal Relief (BADR) stays at 10% for 2024/25, then 14% from 2025/26, then 18% from 2026/27.   The 14% difference between sales qualifying for BADR and the new main rate of CGT should be an incentive to move sales forwards to before April 2025.   Stay tuned for our full Budget breakdown, releasing soon. https://lnkd.in/ePZrjsW7 #AutumnBudget2024 #BudgetUpdates

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