News

The Financial Reporting Council (FRC) has issued an Exposure Draft that proposes to extend the application period of requirements that cover the accounting treatment of temporary rent concessions occurring as a direct consequence of the COVID-19 pandemic by one year. FRED 78 proposes that requiremen

Scotland’s onshore GDP grew by 0.9% in February, according to statistics announced today by Scotland's Chief Statistician.

A celebrity psychic who said he lost his powers after a car accident is facing a £100,000 legal bill after a judge ruled he had been "fundamentally dishonest" in his claim for compensation.

New legislation coming into force from 30th April for prepack administrations is set to impose a new 8-week window in which the assets of an insolvent business cannot be sold to a connected party without the consent of creditors, or a report from an independent evaluator recommending that the prepac

Specialist wealth and asset management firm Mattioli Woods has acquired Caledonia Asset Management. Mattioli Woods is acquiring the Edinburgh-based firm from its shareholders for an initial £960,000 and potential further consideration of up to £640,000 dependent on meeting performance ta

Scott Reid, assistant tax manager at Turcan Connell, highlights the complexities of cryptocurrency taxation. On the 21st February 2021 the most renowned cryptoasset ‘Bitcoin’ rose to an all time high of over £41,000 per coin. The highs are starting to become more frequent and more

More than one in five UK workers (23%) - the equivalent of 7.5 million - are hoping to work from home all, or almost all, of the time once lockdown restrictions have lifted according to new research from Deloitte.

Benjamin Wiles, managing director, restructuring advisory at Kroll, examines the state of the economy with respect to insolvency and the M&A market as the UK emerges from lockdown. The scale of the shock to the UK economy as a result of Covid is now clear following the Chancellor’s Budget.

New data from Moneyfacts has revealed that the number of deals available to savers has contracted to a record low, at a time when savers would hope to see a boom during ISA season.

Scottish Equity Partners (SEP) has completed a $25 million growth equity investment in Basis Technologies, a leading provider of DevOps and test automation software for SAP systems. Organisations across the world use Basis Technologies' DevOps technology to support the transition from legacy on prem

Scottish Financial Enterprise (SFE), the representative body for Scotland’s financial services industry, has launched its first-ever election manifesto, calling for increased collaboration between business and the next Scottish Government to help drive a fair, inclusive and green recovery. The

Bellshill-based Kick ICT, the fast-growing full-service IT company led by technology entrepreneur Tom O’Hara, has acquired Clyde Solutions, a provider of specialist business telecoms, connectivity and IT services. Founded in 2015, the deal is Kick’s fifth in six years as the business mai

Businesses that fail to provide for employees’ retirement are storing up a potential staffing crisis according to a new report on the challenges facing boards in dealing with pension liabilities. An ethical approach to investing in pensions and eradicating the gender pensions gap were among a

The Financial Conduct Authority (FCA) has launched its second consultation on introducing the UK Investment Firm Prudential Regime (IFPR) for FCA prudentially-regulated investment firms. The IFPR introduces a new prudential regime for MiFID investment firms regulated by the FCA. It will create a sin

Scotland's unemployment rate remained at 4.4% from December 2020 to February 2021, according to the latest figures released by the Office for National Statistics (ONS).