Outdoor hospitality and non-essential retail reopen

In line with the Government's roadmap to unlock the UK from the latest lockdown, a large part of the economy has reopened today (12 April) in a boost to consumer confidence. Hairdressers, gyms and leisure facilities, as well as outdoor pubs and restaurants are among...

MPs slam slow process for audit overhaul

The Government has been criticised for dragging its heels over revamping the audit system. The Business, Energy and Industrial Strategy (BEIS) select committee reiterated calls for the Financial Reporting Council (FRC) to be replaced. In October 2019, the BEIS...

Late payments crisis deepens during lockdown

Almost two-thirds of small businesses in the UK experienced late or frozen payments as a result of the COVID-19 outbreak, a report has claimed. The Federation of Small Businesses (FSB) polled 4,228 small business owners in April 2020 and found the issue affected 62%...

Three-month extension for firms to file accounts

Around 4.3 million businesses in the UK can apply to Companies House for a three-month extension to file their accounts. The joint initiative between the Government and Companies House aims to give firms time to focus on negating the economic impacts of COVID-19....