Nearly all mid-sized businesses surveyed by the Chartered Institute of
Management Accountants said they expected to survive the recession.
Of over 600 CIMA members surveyed across the UK and Ireland, 83% said they
could weather the downturn, while 80% of management accountants were confident
of keeping their job.
But many firms had already shed staff, and the majority reported a decrease
of over 10% in either turnover or net profit in the past year. But they had not
experienced a commensurate decline in costs, including overheads, supplier
prices or basic salary packages. One-third of respondents had experienced cost
hikes between 1 and 5% in these areas.
Most of the businesses said the government’s 2.5% value added tax reduction
has not had a measurable effect.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Engineering and technology executives have voiced concerns over the government’s industrial strategy and the need to fill the R&D funding and long-term investment gap in a post-Brexit Britain
This year’s Finance Act is 649 pages, the second longest recorded, and highlights the increasing complexity for taxpayers of an ever expanding tax code