Blog


06

Apr 2017

Professional, scientific and technical services gaining ground

Professional, scientific and technical services on the up The turnover of professional, scientific and technical services companies experienced healthy growth of 7.3% in 2016 to reach £255.4 billion, with management consultancy and architectural/engineering services the two largest sectors of the market. Not only did these services experience strong turnover growth, they also grew their share of the UK economy. IRN Research estimate that in 2016,...

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08

Mar 2017

UK Legal Services Revenue Declines in 2016 for First Time Since the Financial Crisis

The UK legal services market (including private practice firms, barristers, patent agents, and other legal services providers) was valued at an estimated £31.5bn in 2016 (Source: ONS) and this is a decrease from 2015. This is only the second annual decrease in the last decade with the previous one occurring during the financial crisis in 2009. The large law firms continued to see revenue growth ...

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Modest rise in Accountancy turnover in November 2016

12

Jan 2017

Modest rise in Accountancy turnover in November 2016

Accountancy turnover grows slightly Having fallen by 4.2% in October 2016, compared with  October 2015, annual revenue growth for the accountancy professions improved in November 2016. The accountancy professions generated sales of £2,035 million in September 2016, compared with £2,016 million in November 2015, a rise of 1%. Sales in November 2016 were up compared with October 2016 (£1,930 million). Over the first ten months...

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International Tourism Competitiveness

22

Dec 2016

International Tourism Competitiveness

International Tourism Trends International tourism figures for October 2016 from the Office of National Statistics (ONS) indicate a gloomy trend for the competitive position of UK international tourism. Overseas residents made 3.3 million visits to the UK, a decrease of 5% compared with October 2015. Expenditure by overseas residents suffered an even larger decline with 8% less expenditure in October 2016 compared with October 2015....

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15

Dec 2016

Auto-enrolment passes the 7 million mark

Over 7 million employees with pension because of auto-enrolment Auto-enrolment (AE) which began at the end of 2012 has resulted in over 7 million employees gaining access to a workplace pension. Data from the Pension Regulator shows that by November 2016, 7.05 million employees had signed up to an AE pension. AE has radically changed the pension landscape in the UK and dramatically increased the...

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Accountancy turnover declines again

22

Nov 2016

Accountancy turnover declines again

Accountancy turnover slips back Having risen by 3% in August 2016 compared with August 2015, annual revenue growth for the accountancy professions slipped back in September 2016. The  professions generated sales of  £2.01 billion in September 2016, compared with £2.07 billion in September 2015.  Sales in September 2016 were up compared with August 2016 (£1.74 billion) reflecting the normal seasonal pattern of sales. Over the...

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Accountancy turnover returns to growth in August

24

Oct 2016

Accountancy turnover returns to growth in August

Accountancy turnover up The turnover of accountants, bookkeepers and tax advisors rose by almost 4% in August 2016, compared with August 2015. This is a welcome return to growth after the sector saw turnover slump badly in June and July. Despite the improvement in growth in August, this still means that the turnover of the accountancy and allied professions is lower over the first eight...

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19

Oct 2016

Pension reform – two steps forward, one step back

Annuity trading reforms dropped The Government announced yesterday that it was abandoning plans to allow annuity holders to trade in their annuities for cash. Annuity trading and the removal of the need to buy an annuity with a pension fund were the two pillars of pension reform of the Coalition and previous Conservative governments. Now one of these pillars have been withdrawn. The Government argues...

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10

Oct 2016

The Fintech future is bright but is it disruptive?

Fintech: a disruptive or adaptive technology? Fintech is considered as a new technology which can disrupt the traditional finance industry, especially the consumer sector – see details of our Robo-Finance Agents Report . But how disruptive will it actually be? The past seven days has seen three key pieces of news on the Fintech sector, which could provide pointers to how the sector will develop...

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Accountancy turnover slumps in July

07

Oct 2016

Accountancy turnover slumps in July

Revenues down by 2.5% in 2016 The turnover of UK accountancy and allied services companies fell by over 10% in July 2016 compared with July 2015. This means that over the first seven months of 2016, the revenues of UK accountancy firms was 2.5% lower than over the same period of 2015. Despite surveys showing the services sector of the economy is performing relatively well...

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