Steady hand of Chancellor set to stabilise economy

Commentary from Nick Latimer, Private Clients Partner in the Cheltenham office of national audit, tax, advisory and risk firm Crowe

 

Fiscal responsibility was the name of the game today given recent instability in policy and the markets – and I think Jeremy Hunt held the line and secured that process today.

The measures announced to freeze thresholds out as far as 2028, and reduce the level at which the 45% rate of tax for the highest earners kicks in to £125,000, will have a significant impact on the Government’s tax take over time in an inflationary environment which, along with spending cuts, may help to fill the “black hole” created by increased interest rates and the war in Ukraine.

This is not a new strategy but one that has been found to work in the past in a stealthy manner.

The reduced dividend exemption, to £1,000 in 2023 and £500 in 2024, will add further pain for SME business owners who are used to extracting profits by way of dividend, and who are still hurting from the cancellation of the planned reduction of 1.25% which has been applied to national insurance.

In good times, increases in dividend tax might encourage further re-investment of business profits, particularly at a time when corporation tax rates are increasing to 25% – but in a period of recession it is also tempting to delay investment.  This will also hurt those who are already struggling in the post COVID environment, particularly those in the hospitality and leisure sector.

It was also disappointing that the Government will be scaling back tax relief on R&D investment by SMEs from 130% to 86%, and the credit rate to 10%, at a time when we need to transform our economy through innovation. This is on top of previous measures to restrict relief to UK based activities.

It appears that more incentives will be provided by the Government to target relief more appropriately to growth enhancing industries, but we are yet to see the detail.

An increase in the main rate of Capital Gains rate was the subject of much speculation before today – thankfully this did not come to pass.

But the reduced tax free annual allowance from over £12,300 today, to only £3,000 in 2024 will add £2,500 extra of tax for those at the top end of a capital gains tax bill.

This, on top of the reduced dividend exemption, will drag more people into filing self-assessment tax returns annually, at least until the Government’s long-trailed transition to a digital world is implemented.

Finally, it was a relief that the Government did not make further tinkering changes to pension tax and inheritance tax.

If changes are to be made in these areas, more significant reform is needed, as part of a longer term tax simplification agenda and review of retirement planning and capital succession. This is yet to be set out by this government and is unlikely to happen in the short term.

Overall my feeling is that this was the fair Budget that was trailed by the Prime Minister. My hope is that the Chancellor has done enough to steady the ship and provide the stability and certainty that people and businesses are crying out for.

Ends

Contacts:

  • Miriam Sherwood, Director, People Communications & Marketing, Crowe UK. Tel: (0)121 543 1900, sherwood@crowe.co.uk

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk

Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2022)
  • Top charity auditor for 13 consecutive years (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2021)
  • Awarded Silver in the 2022 Citywealth Brand Management and Reputation awards – Best Overall Marketing Campaign category for Your Life Builder
  • Awarded Silver in the 2022 Citywealth Magic Circle awards
  • Ranked 5th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2022)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
  • Risk Consultancy of the Year 2022 for the third consecutive year (InsuranceERM)

Infrastructure spending must trickle down to UK manufacturing sector

By Johnathan Dudley, Midlands & South West Managing Partner and Head of Manufacturing Business, at national audit, tax, advisory and risk firm Crowe

 

It’s clear that the Chancellor intends to continue to use Keynesian economics commercially to drive growth by doubling down on infrastructural investment in the Sizewell Nuclear plant and the various large rail projects, including HS2.

But this only works if that investment is retained and trickled down right here in the UK economy. In the interest of British manufacturers and the economy there simply has to be robust “post Brexit – buy British” procurement initiatives here and the same should also go for expanded investment in schools and the NHS too, or the invested money will leak abroad.

All too often this has happened in the past and the ability of manufacturers to innovate and redeploy to make what the country needed in the pandemic is testament to that. Sadly, since the pandemic there has been a reversion to traditional supply chains, much of which is imported.

Sizewell will indeed reduce reliance on third party fossil-based fuel supplies and will help our zero carbon commitments but will indeed take time to come. I haven’t seen anything in the Chancellor’s Statement that will help manufacturers cut their energy costs from next April.

This could be “mission critical” for many businesses on the brink and hardly supports the Chancellor’s objective of stability.

The Chancellor has announced that he wants the UK to be the new “Silicone Valley” and support innovation, yet he has announced cuts and ominous sounding changes to R&D, for which we await detail, which those very innovative businesses rely on to develop world-beating products and processes.

Of course, there is a need to stop abuse, however so many legitimate claims are being held up by ever increasing scrutiny as it is.

The Treasury and HMRC could well be combining to stifle investment in innovation in spite of the Chancellor’s stated intentions

Ends 

Contacts:

  • Miriam Sherwood, Director, People Communications & Marketing, Crowe UK. Tel: (0)121 543 1900, sherwood@crowe.co.uk

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk


Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2022)
  • Top charity auditor for 13 consecutive years (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2021)
  • Awarded Silver in the 2022 Citywealth Brand Management and Reputation awards – Best Overall Marketing Campaign category for Your Life Builder
  • Awarded Silver in the 2022 Citywealth Magic Circle awards
  • Ranked 5th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2022)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
  • Risk Consultancy of the Year 2022 for the third consecutive year (InsuranceERM)

 

Crowe bolsters Forensic Services team with new partner arrival

National audit, tax, advisory and risk firm, Crowe, has appointed Martin Chapman as a partner in the firm’s Forensic Services practice.

Martin has upwards of 17 years’ experience providing forensic accounting and investigation services, and has worked in the broader audit, accountancy and corporate services space for more than two decades.

Crowe is developing its forensic accounting offering and reinforcing its commitment to the Midlands region by establishing a new presence in Birmingham’s city centre. Martin will be based in Birmingham’s Colmore Building, working with clients both regionally and nationally. He will be joined by Neil Rudd, who has been appointed as senior manager.

Martin has worked with a range of clients including law firms, insurance companies, corporate entities, individuals in dispute, not-for-profit organisations, public sector bodies including the NHS, and government and regulatory bodies. He has provided expert witness and advisory support for defendants and claimants and acted as a single joint expert.

Martin’s specialisms cover the broad spectrum of forensic services. At Crowe, his focus will be to undertake expert witness work as either a named expert or advisor, as well as assist clients in investigation work and insurance claims where necessary.

The appointments of Martin and Neil come at a time of significant and sustained growth for Crowe. The expansion of the Forensic Services team further underlines the firm’s focus on attracting and developing top talent.

Martin Chapman, partner in Forensic Services, said: “I am absolutely delighted to join Crowe and take a lead role in developing Crowe’s forensic offering in the Midlands.

“The demand for forensic accounting services is rising in tandem with legal disputes resulting from the heightened financial pressure on entities and individuals. With the increased number of firms offering legal funding and the rise of class actions, forensic services will be a vital tool in litigation proceedings. Furthermore, as fraud continues to dominate the criminal landscape amidst economic downturn and a cost-of-living crisis, the requirement for forensic services will be even more prevalent.

“I see this as an exciting time to be a forensic accountant and to be a partner at Crowe.”

Nigel Bostock, chief executive of Crowe, said :“I am very pleased to welcome Martin to the Crowe partnership. His appointment is an important step in our ongoing growth journey and is testament to our commitment to building market-leading teams to offer our clients practical, pragmatic advice in these challenging times.”

 

Crowe welcomes positive steps to encourage growth

Johnathan Dudley, Midlands and South West Managing Partner and Head of Manufacturing at Crowe has welcomed Chancellor Kwasi Kwarteng’s announcement in the mini-Budget.

He said: “My initial reaction is ‘wow’, particularly in the removal of the 45% higher tax rate. Clearly what this government wants is to encourage the high rollers and wealth creators to come to, or stay in, the UK.

“And we have an interesting alignment in the basic rate of income tax and corporation – both 19%.”

He said that scrapping the rise in corporation tax and National Insurance would be welcomed by businesses.

He added: “There has been criticism in some quarters for scrapping the cap on bankers’ bonuses, but it wasn’t really having much impact. And if they want to strengthen the City of London as a centre for international banking, it sends all the right signals. It’s a very clear defensive move in light of growing competition from the likes of Frankfurt.

“And the scrapping of the most recent IR35 reforms will be welcomed by sub-contractors, and the companies who will find it much easier to hire them now. The changes were very restrictive.

“It appears the focus is very much on identifying the barriers to growth. And the big push for housing and construction will have major benefits for manufacturing and the wider economy if the developers are buying their bricks and steel in the UK.”

He said he thought the current low-rate of the pound against the dollar was unlikely to prove a long-term problem.

“I can recall how low it fell after Britain fell out of the ERM in 1992; it actually provided a huge boost for growth.

“There is a lot of interest from the US in buying UK goods at the moment, including major capital items, and a low pound won’t hurt.

“It makes goods from China more expensive too – they usually want paying in dollars – and hopefully that would see more people buying goods from the UK rather than importing them.

“There is a lot of interest around the new Investment Zones, but the big question is where will they be? There is a strong suggestion that in the Black Country, where I am based, it will be along some kind of Wolverhampton to Walsall corridor.

“But the factsheet from HM Treasury shows them talking to the West Midlands Combined Authority rather than the individual local councils. A lot of the combined authorities seem to be involved, so are we seeing a shift in planning responsibility to these authorities and the Metro Mayors like Andy Street?”

Ross Prince, Partner at Crowe said: “I think we are seeing three main prongs in the government’s plan for growth: construction, strengthening the City of London as a global financial centre, and using lower tax rates to put more money in shoppers’ pockets to spend on the high street.”

Johnathan Dudley added: “Again, it’s important that what they buy is made in the UK rather than imported, if that money spent on retail is to help the economy grow.”

Ends 

Contacts:

  • Miriam Sherwood, Director, People Communications & Marketing, Crowe UK. Tel: (0)121 543 1900, sherwood@crowe.co.uk

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk


Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2021)
  • Top charity auditor (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2020)
  • Ranked 5th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2022)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
  • Risk Consultancy of the Year 2021 for the second consecutive year (InsuranceERM) – Crowe was recognised to be at forefront of two key areas of focus for insurers in 2020: operational resilience; and environmental, social and governance (ESG) issues, including climate change.
  • Awarded Bronze for Accountancy Firm of the Year – Large (2020 Citywealth Magic Circle Awards)
  • Global Mobility Provider of the Year (Global Payroll Awards 2020)
  • Employment Tax Specialist of the Year (Global Payroll Awards 2019)

 

Crowe’s annual Manufacturing Survey will gauge the health of the sector

The first of two surveys to establish the true health of UK manufacturing has been launched by national audit, tax, advisory and risk firm Crowe.

Crowe has teamed up with the Confederation of British Metalforming to gauge the opinions of those who work in the industry on key issues such as funding, growth, technology and which business relationships they value.

It asks business-critical questions on how and where manufacturers are sourcing funding.

The survey also seeks to establish the level of awareness of the existing Research & Development tax reliefs and whether businesses have made a claim in the preceding 12 months. A second survey in early 2023 will address barriers and the future of the sector.

Johnathan Dudley, Crowe’s Head of Manufacturing and Midlands managing partner, said: “It is becoming increasingly clear that manufacturing faces a perfect storm of issues in the coming 12 months.

“While some will be in survival mode, others are still seeking to grow and we want to know what is proving their main barrier to growth in the next 12 months.

“Global and economic conditions are likely to be exacerbated by pressures on working capital and generating cash, and access to finance, plus issues such as Brexit and trading tariffs, difficulties in recruiting, upskilling and retaining staff, and a nationwide shortage of industrial space.”

He added that many employers would come under severe pressure to increase wages in line with inflation as the cost of living crisis continues to bite.

“Meanwhile, business owners must also factor in issues such as Industry 4.0 replacing more traditional manufacturing methods and pressures to invest in becoming carbon neutral.”

The survey also asks whether government support for manufacturing is seen as adequate and seeks to identify manufacturing’s preferred support network, such as external advisors and members of manufacturing networks, trade organisations, and local chambers.

Stephen Morley, president of the Confederation of British Metalforming, concluded: “We are continually lobbying Government for support for our 200 members and, importantly, industry in general, as supply chains are all so closely interlinked.

“In order to make the most persuasive case and suggest the best possible solutions to the powers that be in Whitehall, we need intelligence from the people at the coalface, telling us about their challenges, their opportunities and the issues they’d like us to address.

“Energy is obviously a major concern for all of us at the moment and inflation continues to place increased pressure on management teams emerging from the shadows of Covid-19 and the complexities of Brexit.”

The survey includes 12 multiple choice questions that should take less than five minutes to complete, and one lucky winner will win a Formula E Scalextric set in December, with the results being published in January 2023.

For further information, call 0121 543 1900 or email nathan.sanghera@crowe.co.uk

Ends (466 words)

Contacts:

  • Miriam Sherwood, Director, People Communications & Marketing, Crowe UK. Tel: (0)121 543 1900, sherwood@crowe.co.uk

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk

Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2021)
  • Top charity auditor (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2020)
  • Ranked 5th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2022)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
  • Risk Consultancy of the Year 2021 for the second consecutive year (InsuranceERM) – Crowe was recognised to be at forefront of two key areas of focus for insurers in 2020: operational resilience; and environmental, social and governance (ESG) issues, including climate change.
  • Awarded Bronze for Accountancy Firm of the Year – Large (2020 Citywealth Magic Circle Awards)
  • Global Mobility Provider of the Year (Global Payroll Awards 2020)
  • Employment Tax Specialist of the Year (Global Payroll Awards 2019)

First Black Country Business Breakfast event in support of Acorns

National audit, tax, advisory and risk firm Crowe is launching its Black Country Business Breakfast, in aid of Acorns Childrens Hospice.

The event on Tuesday 27 September at Crowe’s Midlands office in Black Country House, Rounds Green Road, Oldbury, will enable local businesses to network and also find out more about how Acorns Business Club works. 

Johnathan Dudley, Crowe’s Midlands managing partner, said: “As an Acorns Business Club Ambassador, I am very proud of the work carried out by Acorns and keen to help raise awareness of the organisation’s work within the business community.

“Our first Black Country Business Breakfast will enable business owners and directors not only to find out more about Acorns, but also network with the brightest and best that this region has to offer.“At Crowe we are very proud of our dual role within the local and the business community and mindful of the part we can all play.”

Each of the Acorns Business Ambassadors joins in a two year partnership, adding their own voice and experience to help raise awareness, campaign and fundraise, with each committing to raise £5,000 each year.

Paul Cadman, Acorns vice president and chairman of the Business Club, said: “We’re so grateful to Acorns Business Ambassador Johnathan Dudley and the team at Crowe in the Midlands for bringing our first Business Breakfast to the Black Country.

“Our Business Ambassadors play an important role in raising funds and awareness of Acorns’ lifeline care and support and this event is a fine example of how club members like Johnathan are championing our cause within their local networks and helping us to grow our reach within the community.

“We’re excited to showcase the wonderful work Acorns does across the Black Country and meet some of our incredible supporters, who we hope will join us as Acorns Business Club members and Ambassadors.” 

Acorns Children’s Hospice provides specialist palliative care for life limited and life threatened children across the Black Country and wider West Midlands, and support for their families.

In the past year, the charity has cared for more than 700 children and almost 1,000 families, including those who are bereaved.

It cost Acorns £27,000 per day to provide its services, the bulk of which comes from fundraising and partnerships with local businesses.

The Black Country Business Breakfast starts with registration and breakast at 08.00 on Tuesday 27 September and costs £10, with all proceeds going to Acorns. 

Those interested in attending can apply via https://www.eventbrite.co.uk/e/black-country-business-breakfast-in-support-of-acorns-childrens-hospice-tickets-399427407127

Or email nathan.sanghera@crowe.co.uk or call 0121 543 1900. 

Acorns Business Club offers exclusive benefits including the opportunity to network with some of the biggest names in business from across the region, access to free training and development opportunities and ‘money-can’t buy’ events.

To find out more about becoming one of Acorns Business Ambassadors, please email the Partnerships Team on partnerships@acorns.org.uk or call 01564 825037. 

Ends

Contacts:

  • Miriam Sherwood, Director, People Communications & Marketing, Crowe UK. Tel: (0)121 543 1900, sherwood@crowe.co.uk

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk

Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2021)
  • Top charity auditor (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2020)
  • Ranked 5th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2022)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
  • Risk Consultancy of the Year 2021 for the second consecutive year (InsuranceERM) – Crowe was recognised to be at forefront of two key areas of focus for insurers in 2020: operational resilience; and environmental, social and governance (ESG) issues, including climate change.
  • Awarded Bronze for Accountancy Firm of the Year – Large (2020 Citywealth Magic Circle Awards)
  • Global Mobility Provider of the Year (Global Payroll Awards 2020)
  • Employment Tax Specialist of the Year (Global Payroll Awards 2019)

 

Crowe advises on major pharmacy group expansion

National audit, tax, advisory and risk firm Crowe has advised on the acquisition of 16 pharmacies in the north of England.

Crowe’s Midlands corporate finance team, led by partner Andy Kay and associate director Phoebe Turner, provided specialist financial due diligence and transaction support to Allcures plc, which has purchased the chain of pharmacies built up by The Hub Pharmacy Ltd.

The purchase, for an undisclosed sum, brings the number of branches operated by Allcures to 48, plus an online pharmacy business.

Andy Kay said: “The Hub Pharmacy branches are all located within health centres, or in the proximity of GP surgeries, offering significant potential for growth.

“We are pleased to have assisted in an acquisition which enables Allcures to develop its service in the north of England and to continue to enhance the strong reputation built by The Hub Pharmacy Ltd.”

Kiran Cheema, managing director of Allcures, said: “We are delighted to have acquired The Hub Pharmacy Ltd, delivering on our strategy to develop our service offering into the north of England. Andy and Phoebe were a great support during the process, providing valuable and timely advice throughout.”

The branches are spread across the north of England, including Greater Manchester, Warrington, Halifax and Rochdale.

The Hub Pharmacy Ltd was established in 2015, via a management buyout of MedicX Pharmacy Ltd, with funding support from Bridges Fund Management. Starting from a core group of nine pharmacies, the group has grown to 16.

Essex-based Allcures plc, is a 32-strong pharmacy group operating across the south of England.

Gemma Mintram of Knights plc provided legal advice to Allcures and Chris Christodoulou of Shawbrook Bank provided the funding.

Ends (275 words)

Contacts:

  • Miriam Sherwood, Director, People Communications & Marketing, Crowe UK. Tel: (0)121 543 1900, sherwood@crowe.co.uk

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk

Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2021)
  • Top charity auditor (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2020)
  • Ranked 5th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2022)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
  • Risk Consultancy of the Year 2021 for the second consecutive year (InsuranceERM) – Crowe was recognised to be at forefront of two key areas of focus for insurers in 2020: operational resilience; and environmental, social and governance (ESG) issues, including climate change.
  • Awarded Bronze for Accountancy Firm of the Year – Large (2020 Citywealth Magic Circle Awards)
  • Global Mobility Provider of the Year (Global Payroll Awards 2020)
  • Employment Tax Specialist of the Year (Global Payroll Awards 2019)

Advanced manufacturing technologies highlighted in key Midlands briefing

National audit, tax, advisory and risk firm Crowe is teaming up with experts from the manufacturing sector to present a major briefing on the future of advanced technologies.

The event will take place at The School of Engineering at the University of Birmingham on Wednesday 29 June.

The briefing includes Crowe, in association with the Advanced Manufacturing Technologies to Create, Activate & Automate (AMTECAA) programme, Gauge and Tool Makers Association (GTMA) and Confederation of British Metalforming (CBM).

Johnathan Dudley, Head of Manufacturing at Crowe, said: “If you are looking to explore how advanced manufacturing technologies can help you be more productive, or provide a competitive edge, then this is the perfect opprtunity to see what fully funded support you can access through AMTECAA.”

The event includes sector updates from Crowe, CBM and GMTA, as well as an introduction to the AMTECAA programme, followed by the opportunity to visit state-of-the-art laboratories.

Dudley said: “During the tour, delegates will be able to see how they can create new products with additive, subtractive and hybrid engineering.

“Demonstrations will include how they can activate surfaces with laser and plasma processes and how to increase the automation of processes with robotics.”

The free event is open to businesses with fewer than 250 employees, and a turnover of less than 50 million euros, located within Greater Birmingham and Solihull, the Black Country, Coventry and Warwickshire and Stoke and Staffordshire.

To be held in the Staff House at University of Birmingham, the programe will include registration and breafast, sector updates, a tour of the laboratories and a Q&A session to conclude the event.

More details can be obtained from https://www.crowe.com/uk/events/accelerate-your-manufacturing-business-29-june-22

Or call Nathan Sanghera on 0121 543 1900, email nathan.sanghera@crowe.co.uk

Ends (283 words) 

Contacts:

  • Miriam Sherwood, Director, People Communications & Marketing, Crowe UK. Tel: (0)121 543 1900, sherwood@crowe.co.uk

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk

Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2021)
  • Top charity auditor (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2020)
  • Ranked 5th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2022)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
  • Risk Consultancy of the Year 2021 for the second consecutive year (InsuranceERM) – Crowe was recognised to be at forefront of two key areas of focus for insurers in 2020: operational resilience; and environmental, social and governance (ESG) issues, including climate change.
  • Awarded Bronze for Accountancy Firm of the Year – Large (2020 Citywealth Magic Circle Awards)
  • Global Mobility Provider of the Year (Global Payroll Awards 2020)
  • Employment Tax Specialist of the Year (Global Payroll Awards 2019)

Crowe conference to tackle the current issues facing the Academies sector

A major update on the current issues facing the Academies sector is being held by national audit, tax, advisory and risk firm Crowe at Sixways Stadium, Worcester, on Thursday 9 June.

Crowe’s annual Academies Conference will be the first in-person event the firm has held for the sector since 2019, and partner Dave Darlaston said they were looking forward to the personal interaction that a live, face-to-face discussion will offer.

Crowe speakers Dave Darlaston and director Matt Doyle-Healey will be joined by Robert Gould of Barker Associates and Phil Herriott of Lloyds Bank to discuss the issues facing the sector.

Robert Gould is a chartered building surveyor who provides strategic estates advice and specialises in the education sector. Phil Herriott is a commercial banking manager in Lloyds Bank’s dedicated team of specialist education relationship managers.

Matt Doyle-Healey said: “We have all had a difficult three years to negotiate since we all sat down face-to-face to share insights with our colleagues in the academies sector.

“Together with our panel of experts, we will be discussing topical issues including sustainability, cyber security and fraud, trading subsidiaries and VAT and tax implications.

“We will also review the implications of the Schools’ Bill, review governance matters, provide an accounting update to include accounts direction, and consider the 2022 Academy Trust handbook.”

The event is ideal for trustees, accounting officers, finance directors and business managers of academy trusts who are seeking real insight and an update to ensure they are up to speed both on changes and policy developments in their sector.

Crowe is a leading advisor to academies, providing regular technical update and risk management to accountants, school business managers, governors and trustees.

The event, which is free to those working in the academies sector, will run from 08.30 to 13.30. To register go to https://www.crowe.com/uk/events/academies-conference-9-june-2022, email nathan.sanghera@crowe.co.uk or call 0121 543 1900.

Ends (310 words)

Contacts:

  • Miriam Sherwood, Director, People Communications & Marketing, Crowe UK. Tel: (0)121 543 1900, sherwood@crowe.co.uk

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk

Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2021)
  • Top charity auditor (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2020)
  • Ranked 5th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2022)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
  • Risk Consultancy of the Year 2021 for the second consecutive year (InsuranceERM) – Crowe was recognised to be at forefront of two key areas of focus for insurers in 2020: operational resilience; and environmental, social and governance (ESG) issues, including climate change.
  • Awarded Bronze for Accountancy Firm of the Year – Large (2020 Citywealth Magic Circle Awards)
  • Global Mobility Provider of the Year (Global Payroll Awards 2020)
  • Employment Tax Specialist of the Year (Global Payroll Awards 2019)

Energy security strategy must balance reality today with future needs

The UK’s future energy security strategy needs to tread a fine line between the practical needs of industry now and its medium to long-term targets, the Head of Manufacturing at national audit, tax, advisory and risk firm Crowe is warning.

Johnathan Dudley said there was the inherent risk of securing the UK’s domestic energy policy and committing to a greener future, while businesses simply imported products from countries that paid only lip service to the environmental agenda.

“It’s no good being ‘clean’ but importing products from countries that aren’t. It’s just creating poverty here while moving the problem elsewhere.

“Not all countries are committed to net zero, let alone by 2030/2050, and this is what is behind the rumoured threat by Toyota to move manufacturing away from the UK. Others may follow.” he said.

He cautioned that an over-aggressive, early implemented energy security strategy has grave short-term risks for business.

“In the short-term there will undoubtedly be an impact on cashflow, on the return on capital employed, and an impact on profits which, ultimately, may risk the survival of some businesses.

“We need a balanced and affordable strategy that supports UK industry in the short-term and incentivises investment for the future. This will need grant funding, as loans are already gearing balance sheets too much.

“Organisations with money will only invest in countries with the best incentives and a more realistic, balanced approach to net zero.

“Industry has a key role to play here as an influencer, to help the UK government steer a viable path between ultimate energy security for the country, and the current practicalities facing manufacturing businesses.”

Ends 

Contacts:

  • Miriam Sherwood, Director, People Communications & Marketing, Crowe UK. Tel: (0)121 543 1900, sherwood@crowe.co.uk

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk


Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2021)
  • Top charity auditor (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2020)
  • Ranked 5th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2022)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
  • Risk Consultancy of the Year 2021 for the second consecutive year (InsuranceERM) – Crowe was recognised to be at forefront of two key areas of focus for insurers in 2020: operational resilience; and environmental, social and governance (ESG) issues, including climate change.
  • Awarded Bronze for Accountancy Firm of the Year – Large (2020 Citywealth Magic Circle Awards)
  • Global Mobility Provider of the Year (Global Payroll Awards 2020)
  • Employment Tax Specialist of the Year (Global Payroll Awards 2019)