Accountancy Insights

In this episode of Behind the Numbers, we discuss the hits and misses of the Labour government’s first year in power.   While there have been some clear wins over the past 12 months, particularly on the international stage, domestic politics have felt far less controlled. Our panel evaluates the previous year, as well as suggesting where the government goes from here as it enters its second year....

In this episode, we discuss the government’s new Industrial Strategy and, in particular, its sector plan for professional and business services with Iain Wright, ICAEW Chief Policy and Communications Officer. Iain is Chair of the Professional and Business Services Council, which has worked closely with government in devising the final plans.   We also met speakers at ICAEW’s How to Fix VAT confere...

In this episode of Behind the Numbers, we discuss how businesses can best navigate geopolitical risk.   With the Trump administration’s push for tariffs, and wars taking place in Europe and the Middle East, doing business internationally is increasingly unpredictable. We explore the lessons learned from Russia’s recent history – beginning with the fall of the Soviet Union in 1991 all the way throu...

In this episode, we discuss how SMEs can pursue growth in today’s environment of economic uncertainty, as well as explaining how auditors should be fulfilling their responsibilities to exercise professional judgement and scepticism.   Philippa Lamb is joined by start-up consultant Romesh Jeyaseelanayagam and Rhodri Whitlock, Director at HPL Associates.   Time codes 00:33 Supporting SME growth 08:3...

Accountancy Insights is celebrating its 100th episode.   To mark the occasion, we’ve brought together experts from across business, politics and technology to look at a fundamental problem that’s holding back economic growth: trust. Just how deep is the trust crisis in business and institutions that we hear so much about? And how can it possibly be rebuilt as economic volatility persists?   We set...

In this episode, we discuss the government’s new measures to collect billions of pounds in unpaid taxes, as well as covering the key changes to ICAEW’s Code of Ethics, which come into effect on 1 July 2025.   Philippa Lamb is joined by Stephen Relf, Technical Manager, Tax; and Laura Hough, Director of Trust and Ethics.   This episode refers to penalty rates based on the Bank of England base rate,...

In this episode of Behind the Numbers, we discuss how professionals should approach social media.   Social media can be a minefield, particularly when personal and professional lives are closely interwoven. Online debate has become increasingly polarised, including how people use professional networks such as LinkedIn. We cover some common pitfalls and explain how ethical principles should be info...

In this episode, we discuss how the Trump administration’s tariffs will hamper the government’s growth plans, the progress made towards Making Tax Digital on its tenth birthday, and how changes to FRS 102 and 105 will affect the nation’s small businesses.   Philippa Lamb is joined in the studio by Iain Wright, Chief Policy and Communications Officer; Caroline Miskin, Senior Technical Manager, Digi...

In this episode of Behind the Numbers, we discuss the necessary ingredients to support economic growth.   It’s a clear priority for the government. An industrial strategy is due to be published in the coming months – with eight key sectors for the UK already identified – and reviews of taxation and regulation are also taking place. As the Spring Statement arrives on 26 March, our panel explores wh...

In this episode, we have a report by Mark Rowland from the ’20 Years of HMRC’ event held on 11 March at Chartered Accountants’ Hall, in which he speaks to James Murray, Exchequer Secretary to the Treasury, and Lord O’Donnell, former Permanent Secretary to the Treasury, among others, about the future of digitisation and HMRC.   Tax changes announced at the budget are coming into effect in April and...

In this episode of Behind the Numbers, we discuss the appropriateness of employee ownership trusts (EOTs) for accountancy practices.   The majority of mid-tier accountancy and audit firms are still structured as limited liability partnerships. But, with nearly half of firms citing succession planning as a critical talent challenge, and private equity investors taking more interest in the sector, s...

In this episode, we discuss the latest developments in President Trump’s tariffs rollout and how they may affect UK businesses. We also explore a new joint report by ICAEW and the Chartered Institute of Taxation into HMRC service standards, which includes research findings from 31 agent firms.   Philippa Lamb is joined in the studio by ICAEW’s Iain Wright, Managing Director of Reputation and Influ...

In this episode of Behind the Numbers, we discuss continuous learning around technology and artificial intelligence.   For accountants, getting the most out of fast-evolving technologies involves more than simply training people how to use them. Judgement, communication and granular accountancy skills all come into play. So how can firms identify their training needs and what are the best ways to...

In this special episode of Accountancy Insights, we look ahead to the most significant events and trends anticipated in 2025.   Last year brought a new UK government and its controversial first Budget. With things now appearing more settled at home, the upcoming inauguration of President Trump in the US and the recent collapse of governments in Europe will bring new opportunities and challenges fo...

In this episode of Behind the Numbers, we discuss the progress of sustainability reporting.   Across the globe, sustainability reporting has become increasingly mandated for large organisations. Now, with the CSRD introduced in the European Union and the first two ISSB standards set to be endorsed by the UK, the challenge for accountants lies in ensuring that the quality of non-financial informati...

In this episode, we speak to Ray McCann, fresh from delivering this year’s Hardman Lecture on Monday 25 November, about regulating the provision of tax advice. Plus, Sophie Wales, ICAEW Director of Regulatory Policy, explains upcoming changes to the ICAEW Code of Ethics around professional behaviour.   Time codes 00:55 Regulating tax advice 08:09 New professional behaviour wording   Links ICAEW: H...

In this episode of Behind the Numbers, we discuss whether the filing of local authority audited accounts will ever get back on track.   Just 1% of local bodies published audited accounts on time for the 2022/23 [LE1] financial year. Now, the government has introduced backstop dates in the hopes of resetting the system, with the first arriving on 13 December. But will they anything change? And how...

In this special episode of Accountancy Insights, we discuss whether the Autumn Budget will provide a much-needed shot in the arm for business confidence and investment activity.   Philippa Lamb is joined by Iain Wright, Managing Director, Reputation and Influence, ICAEW; Frances Haque, Chief Economist, Santander UK; and David Williamson, Political Editor, Sunday Express.   Links ICAEW: Autumn Budg...

In this episode of Behind the Numbers, we discuss how the use of new technologies by criminals is putting businesses at risk.   A recent Europe-wide report found that 40% of chief internal auditors cited artificial intelligence as a top five business-critical risk. So, how can professionals protect themselves and their employers? And what can SMEs with tighter budgets do to combat this threat?   H...

In this episode, we recap revisions to ISA 600 on group audit, and we discuss the likely contents of the AI Bill that is expected to be brought to Parliament before the end of the year.   Philippa Lamb is joined by Catherine Hardinge, Partner at Price Bailey; and Oliver Nelson-Smith, Tech Policy Manager at ICAEW.   Time codes 00:30 Group audit 06:18 AI Bill   Links ICAEW: Reminders on group audit:...

In this episode of Behind the Numbers, we discuss the introduction of tourism taxes in the UK.   During 2024, such taxes have been introduced in Manchester, Poole, Bournemouth and Brighton. Now, Edinburgh City Council has put forward draft proposals for a visitor levy scheme, which would charge visitors 5% of their accommodation costs per night for up to a week. But how useful are tourism taxes in...

In this episode, we discuss the available guidance on, and the application of general principles to, the taxation of cryptoassets; as well as how auditors should be acting on their obligation to report suspicions of fraud to the regulator.   Philippa Lamb is joined by Richard Jones, Senior Technical Manager in Tax Policy at ICAEW; Dion Seymour, Crypto and Digital Assets Technical Director at Ander...

In this episode of Behind the Numbers, we discuss ways to improve recruitment and retention in accountancy. While the pipeline of new joiners remains healthy, holding onto qualified staff is proving challenging. New research by ICAEW on mid-tier firms demonstrates just how significant the issue is – with 70% of participants identifying talent as their most significant challenge. So, what needs to...

In this bumper episode, we discuss the latest findings of ICAEW’s Business Confidence Monitor and why three-quarters of councils in England are at least a year behind in publishing audited accounts. Plus, we hear an update on the probate service and explore ICAEW’s recommendations for the new government’s business tax road map.   Philippa Lamb is joined by Iain Wright, Managing Director of Reputat...

In this episode of Behind the Numbers, we discuss gender inequality in investment. Women continue to be underrepresented in venture capital, particularly at senior levels. The scales are even less balanced for female founders, who received just 2% of venture capital funding in recent years. As the new government puts productivity and growth at the top of its national agenda, how do we get things m...