News

WEF: See the Worlds Most Competitive Economies in 2018-2019

Last month, the valued non-profit organisation, the World Economic Forum (WEF) released its Global Competitiveness Report for 2018, ranking Hong Kong as the 7th most competitive economy globally, with the Asian hub losing its position of 6th place in 2017 out of 140 other countries worldwide.


How Effective will the Implementation of Public Disclosure Measures be?

Officials and several MPs have questioned how effective public disclosure of the UK’s overseas territories would be. The disclosure measure had originally been proposed by George Osborne in 2013, but the commitment was dropped after the Brexit revelation, prompting others to get the measure on the statute book.


After huge uptake of voluntary liquidations, UK company insolvencies drop

The total number of UK company insolvencies have dropped by 29% in the first quarter of 2017 due to a surge of personal service companies applying for a creditors’ voluntary liquidation.


Companies House make redundancies in cost cutting measures

The UK Companies House has outlined plans to reduce costs of baseline activities by 3.5%, despite having an increased workload, and will focus investment on improvements to digital services, expecting to have digital filing options for 99% of accounts by March 2018.


Central banks are abandoning the euro in favour of the UK pound

The Financial Times has reported concerns over European weak growth, political instability, and the ECB’s negative interest rate policy has led central banks to reduce their exposure to the euro.


HMRC lacks contingency plan for new online tax repayment system

The HMRC in the UK has boldly decided not to take any contingency measures with the Treasury in the event it should run into complications with the digitisation of the tax system.


Lords seek explanation on what constitutes “true and fair”

The Financial Reporting Council (FRC) has so far not spoken out about the requests from the House of Lords Economic Affairs Select Committee to explain what constitutes ‘fair & true’.