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Economy

Budget drives dramatic drop in business confidence

Confidence across all UK business sectors has plunged, according to ICAEW analysis, as concerns over last year’s Budget tax measures weigh heavily on the economy.

National insurance increases for employers announced in Budget

From April 2025, employers will pay national insurance contributions (NIC) on an employee’s earnings above £5,000 at the rate of 15%. The employment allowance will be increased to £10,500 per year to help smaller businesses.

Resilience and Renewal: Building an economy fit for the future

This content examines economic issues that UK business and chartered accountants are at the centre of tackling to build a better, more resilient future. We explore productivity, skills and international trade.

Access to finance

How to access free business banking dispute resolution support

Article
14 Oct 2024

Accountancy firms play a unique role in supporting and advising SME clients about resolving banking issues – and some accountancy businesses may have banking issues of their own. Fortunately, help is at hand.

British Business Bank launches Recovery Loan Scheme successor

Article
12 Jul 2024

Running until 31 March 2026, the new Growth Guarantee Scheme aims to support small businesses by offering loans of up to £2m, with 70% government-backed guarantees.

The funding and financing options available to SMEs

Article
03 Jun 2024

Starting and scaling a business demands capital. Choosing the best financing option and managing the fundraising process requires planning, professional expertise and resilience.

The secret to accessing early-stage investment

Article
22 May 2024

With a lending market changed by high interest rates and a proliferation of technology, we look at what start-ups can do to increase their chances of attracting venture capital investment.

Incentives, allowances and support

R&D tax relief: where are we now?

Podcast
05 Feb 2025

In recent years we’ve seen changes to the rules, to processes and to HMRC’s approach to policing claims for research and development (R&D) tax relief. In this episode we map out the current landscape to help you navigate your way through it.

EIS and VCT scheme extended by 10 years

Article
09 Sep 2024

Shares issued before 6 April 2035 will qualify for relief under the enterprise investment scheme (EIS) and the venture capital trust (VCT) scheme if all other conditions are met.

A lowdown on full expensing for SMEs

Article
23 May 2024

Announced as a permanent capital allowance in the 2023 Autumn Statement, full expensing is a boon for companies investing in capital assets. Here, we examine the details of the new allowance and how to compile a claim.

R&D tax relief: what you need to know

Article
27 Mar 2024

Research and development tax relief is a key government incentive encouraging much-needed investment. Making a claim requires thought and planning, an understanding of the common pitfalls and possibly external support, too.

Chancellor confirms full expensing will be permanent

Article
22 Nov 2023

The full expensing regime will not expire on 31 March 2026 and will be made permanent, the Chancellor announced at the Autumn Statement on 22 November 2023.

R&D tax relief merger to go ahead despite concerns

Article
22 Nov 2023

Jeremy Hunt has confirmed in the Autumn Statement that the two existing research and development tax relief schemes will merge with effect for accounting periods from 1 April 2024.

Tax

940,000 employers to pay more NIC in 2025/26

Article
19 Nov 2024

Legislation introduced to Parliament provides for the changes to employers’ national insurance contributions (NIC) announced at the Autumn Budget 2024.

CGT and SDLT rates increased in Budget

Article
30 Oct 2024

From 30 October 2024, the main rates of capital gains tax (CGT) will be increased to 18% and 24%. The 10% rate of CGT for disposals attracting business asset disposal relief (BADR) will increase to 14% (from April 2025) and to 18% (from April 2026).

Government publishes its plans for corporation tax

Article
30 Oct 2024

The government has set out its intentions for corporation tax for the next five years, delivering on its commitment to publish a business tax roadmap at the Autumn Budget.

Budget measures you may have missed

Article
06 Nov 2024

ICAEW’s Tax Faculty picks out some important measures announced at Autumn Budget 2024 which didn’t make the headlines on the day.

Supply chain

How to futureproof your business for international trade

Article
14 Nov 2024

What are the critical considerations for building a firm base for future overseas trade? Charles Platts, Chair of ICAEW’s Global Trade Community, outlines the basics.

How to boost your business in global markets

Article
11 Nov 2024

International Trade Week offers an array of free events, workshops and webinars. Whether you’re new to exporting or looking to expand your existing international sales, there’s a wealth of advice to help you.

Trade: helping clients navigate export complexity

Article
15 Nov 2024

Almost five years since Brexit and the complexities of EU trading are showing no sign of abating. With more regulation on the horizon, advisers may need to help clients with supply chain reviews to help them navigate complexities.

How will Trump’s tariffs affect global trade?

Article
15 Nov 2024

President-elect Trump says he will bring in tariffs when he takes office next January, so what will this mean for US consumers and exporters to the US?

EU trading post-Brexit: what you need to know

Article
15 Jul 2024

The EU remains the UK’s largest trade partner, yet despite the business benefits of international trade, many SMEs are deterred by a lack of know-how and fears over higher costs and more administration.

ESG for SMEs: future proofing supply chains

Article
08 Sep 2023

The impacts that environmental, social and governance issues can have on supply chains is stark, but if SMEs don’t comply with new ESG rules they could also risk their entire business.

Cash flow and forecasting

The case for action on late payments

Article
18 Nov 2024

A small practice round table at Chartered Accountants’ Hall, attended by Small Business Commissioner Liz Barclay, outlined the impacts of late payments on economic growth.

Statement of cash flows: how to avoid common pitfalls

Article
30 Jul 2024

The Corporate Reporting Faculty’s latest guide addresses cash flow statements – one of the top 10 issues in corporate reports.

The pros and cons of using credit cards for cash flow

Article
15 Nov 2023

As a new report shows that plastic is proving increasingly popular among UK SME business owners, we highlight the benefits it can unlock – and the pitfalls to avoid.

Mid-market businesses cutting costs at pace

Article
26 Sep 2023

Companies are tightening their belts as cost pressures increase but business retains optimism for the near future.

Workforce and recruitment

AI skills gap is a ticking time bomb

Article
13 Nov 2024

Estimates predict that with the adoption of AI technology, 40% of the workforce will need to re-skill in the next three years. So what’s the risk of losing your competitive edge if you fail to upskill your staff?

Exploring the training options available to SMEs

Article
23 May 2024

Strong training and development programmes help businesses attract and retain the best talent. It pays to understand the full gamut of support and funding available.

Making apprenticeships work for your company

Article
10 Apr 2024

Apprenticeship programmes are a valuable part of any workforce training strategy and certainly not just for manual jobs. But they must be underpinned by sound workforce planning, strong training provision and management buy-in.

How to build a workforce of the future

Podcast
27 Oct 2023

In this Insights In Focus episode, we explore strategies to expand and upskill Britain’s workforce.

The UK's skills gap and what’s gone wrong

Article
17 Oct 2023

For a generation, a shortage of skills has undermined business confidence, investment, and productivity across the UK, and so limited economic growth and left us more exposed to inflation shocks. Here, we look at what’s causing this shortage and, in the next article, ideas for addressing it.

How to close the UK’s skills gap

Article
17 Oct 2023

Addressing the UK’s labour supply and skills gap is no easy task, but policymakers, business, and the chartered accountants that advise them have a key role to play.

Energy costs

Geothermal energy: what’s in it for business?

Article
25 Nov 2024

After exploring the potential for geothermal energy in our previous article, we look at the businesses that are utilising it to their advantage.

Why CFOs should invest in geothermal energy

Article
15 Nov 2024

Renewable energy is high on the agenda as COP29 enters its second week. Geothermal is sustainable, cheap energy – so why aren’t more companies exploiting its potential in the UK? In the first of two articles, we explore the possibilities.

ESG for SMEs: Make energy saving in your business

Article
19 Sep 2023

ICAEW is supporting the Department of Energy Security and Net Zero in its campaign promoting energy efficiency. We take a look at what businesses can do to drive down energy bills and boost savings.

Impact on business sectors

Border uncertainty holding back business

Article
20 May 2024

Repeated delays in implementing a full UK border control regime in wake of the UK’s EU exit have had serious impacts on traders, according to the National Audit Office.

New Companies House fees bring jump in costs for services

Article
03 May 2024

From 1 May, the fees for Companies House services have increased, with the cost of incorporating a company via software increasing five-fold.

Hospitality in crisis: helping clients through the turmoil

Article
27 Feb 2024

Economic strains have sparked a ‘bloodbath’ in hospitality, with scores of closures already this year. How can accountants help their clients weather the storm?

Are small retailers drowning in business rates?

Article
10 Jul 2023

Retail was one of the industries hit hardest in recent years due to myriad changes, and they’re still struggling. Is regulation holding them back?

Business and industry press

The ICAEW Library & Information Service provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

Exclusive Planning in a recession

Article
Rene Ho
Strategic Finance

Companies need to future-proof their business as they transition from pandemic-related supply chain issues to a potential recession - and the radically different economy that may lie beyond, says Rene Ho. The article covers key tried-and-tested best practices for businesses to take when navigating through tough times.

Exclusive Navigating the perfect storm

Article
Marcine Johnson
Strategic Finance

Businesses have faced many unforeseen issues for the past few years and survived. Now all sectors of business face a new challenge: inflation. Marcine Johnson suggests some strategies to help small businesses cope with the evolving circumstances.

Exclusive Armanino LLP advises businesses on planning for recession

Article
Michael Cohn
Accounting Today

Advice from business consulting firm Armanino on how to reduce costs without making desperately needed employees redundant. The firm advises clients to look at internal metrics such as cash flow, revenue per employee, average days to close new business and accounts receivable payments.

External resources

Guide to building business resilience

Website

Our Guide to building business resilience contains impartial, practical, and actionable information and support to help smaller businesses manage their costs, boost their long-term profitability, and increase their resilience.

FSB Finance Hub

Website

Expert resources and guides to help you manage your small business finances, curated by the Federation of Small Businesses (FSB). The hub includes articles, videos and downloadable guides from industry experts across areas like banking, business credit scores, saving for retirement and protecting your bottom line.

Seven strategies to survive the inflationary storm

Website

Advice on how small UK businesses can protect themselves during times of high inflation, including: looking for new customer segments, raising prices, building supplies up now, cutting overheads, enhancing productivity, auditing profit margins and automation.

Six strategies to help your company weather inflation

Website

Successful companies use six tactics to achieve growing their revenue during high inflation, say the authors. They look at these tactics one by one, including achieving high understanding of your spending and eliminating unnecessary work to focus only on activities that add the most value and are absolutely necessary.

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