Brexit

Insight / Quarterly company insolvencies fall in Q2

Despite a number of high profile insolvencies hitting the headlines, the number of companies entering administration in England and Wales fell during the second quarter of this year

Insight / OBR warns of breakdown in fiscal discipline, recession risk

The Office for Budget Responsibility (OBR) has warned that a no-deal Brexit could see public borrowing doubling to some £60m next year, with the risk of recession increasing sharply

Insight / CFO concerns over Brexit outcome deepens

Brexit uncertainties and concerns about developments in geopolitics mean CFOs at the UK’s largest companies are battening down the hatches

Insight / Impact of Brexit on UK financial services nears £4bn

Brexit has cost the UK financial services sector close to £4bn, despite companies pausing job and asset moves once the extension to October for leaving the EU was announced, according to analysis from EY which says the final spend may be much greater

Tax / UK inward investment double Germany and France

Despite Brexit uncertainties, the UK attracted more foreign direct investment (FDI) than Germany and France combined in 2018, United Nations data shows

Insight / Deloitte racks up largest share of government’s Brexit consultancy spend

Government departments have spent at least £97m on Brexit consultancy work in the last 12 months, with almost a quarter (22%) of the business going to Big Four firm Deloitte, while PwC and EY have also picked up substantial consulting contracts

Insight / Brexit uncertainty slashes UK foreign direct investment

Although the UK retained the top slot as the number one location for foreign direct investment (FDI) into Europe in 2018, there has been a significant drop in the number of inbound mergers and acquisitions as uncertainty around Brexit affects long-term decisions

Insight / Brexit delays hit UK manufacturing investment

UK manufacturing is at risk of investment paralysis, with industry leaders branding a potential Brexit no deal as ‘economic lunacy' as prospects for the manufacturing sector continue to weaken as the uncertainty of Brexit drags on

Tax / Norman replaces Stride as financial secretary to Treasury

In the latest Cabinet reshuffle, transport minister Jesse Norman has been named as financial secretary to the Treasury, as previous minister Mel Stride becomes leader of the House of Commons after the resignation of Andrea Leadsom

Insight / Brexit worries force CFOs to curb UK investment

The UK’s top CFO’s are implementing risk aversion strategies in the face of continued Brexit uncertainty over the year ahead, with  almost all believing that the prospect of widely unanticipated surprise events is a rapidly growing concern for their company, a poll of senior finance executives has found

Insight / Warning of Brexit director brain drain

BDO is warning of a potential brain drain in the UK economy if the government does not make a concerted effort to retain and attract European business leaders post-Brexit, after its research found more than 40,000 board-level directors of UK businesses are citizens of EU27 countries

Insight / Economic trends: jobs growth hides productivity collapse

Despite Brexit uncertainty, the UK economy continues to grow, creating record levels of employment and no let-up in consumer spending, but poor productivity could lead to an economic hangover, argues George Buckley, chief UK economist at Nomura

Insight / Brexit worries weigh on CFOs

As the Easter recess brings a temporary halt to parliamentary discussion about the UK’s plans for leaving the EU, long term levels of concern about Brexit among CFOs has hit an all-time high

Tax / Deadline for export grants for Brexit preparation extended

The Treasury and HMRC have extended the deadline to end May for applications for an £8m government funding grant for customs and export related training due to ongoing Brexit uncertainty and low take-up

Insight / Brexit for accountants: what we know so far

A roundup of Brexit legislation, guidance and statutory instruments including no deal Brexit advice for auditors and accountants, HMRC and BEIS extend post Brexit guidance for SMEs, lost limited liability status and import duties to be slashed in the event of a no deal
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