Deloitte to hire 6,000 new UK staff over next five years August 22, 2022 Deloitte today set out plans to hire more than 6,000 new UK employees over the next five years in a bid to boost the quality of its audit work. The plans will see the accounting firm recruit at least 1,200 audit and assurance professionals each year from 2022- 2027, including around 5,000 new auditors. The [...]
Criminal Barristers vote to escalate strike action over legal aid fees August 22, 2022 Criminal barristers today voted in favour of plans to cancel their bi-weekly court walkouts and run a continuous strike from 5 September onwards. The Criminal Bar Association’s members overwhelmingly backed the decision to strike on an “indefinite basis” on Monday morning. 2273 members backed escalation of strikes by 79.5 per cent, with 11 per cent supporting a continuation [...]
Company Voluntary Agreements plunge as taxman tightens debt recovery rules August 22, 2022 The number of struggling firms striking Company Voluntary Arrangements (CVAs) with creditors has plunged 47 per cent in the past year after tax authorities tightened the way they can reclaim debts, new data has revealed.
Threat of recession drives City law firm hiring spree August 19, 2022 City law firms are seeking to capitalise on the looming recession by bolstering their M&A and financial restructuring teams. Vacancies for City lawyers specialising in banking, leveraged and real estate finance, capital markets, and derivatives surged 38.7 per cent over the first seven months of 2022, figures from legal sector recruitment firm Tenhaven show. The [...]
Less than 62,000 of UK’s one million trusts registered with HMRC just two weeks before deadline August 19, 2022 Only a tiny proportion of those who own non-taxable trusts have registered them with HM Revenues and Customs’ (HMRC’s) Trust Registration Service (TRS), just weeks before the deadline on 1 September. A total of 61,700 of the UK’s estimated one million trusts were registered with the HMRC service in the first six months of 2022, [...]
City Exclusive – Criminal barristers lured to law firms as strikes set to escalate August 19, 2022 City law firms are making concerted efforts to capitalise on the collapse of the criminal justice system by hiring disgruntled barristers into their firms, recruiters and law firms exclusively told Morning Wire Legal sector recruiters said they’ve seen a sharp uptick in law firms approaching them seeking to bolster their teams by hiring criminal [...]
Charity boss CV fraudster must pay back 15 per cent of salary, Supreme Court says August 18, 2022 A charity chief executive should be forced to repay almost £100,000 of his more than £640,000 annual salary following the discovery he lied on his CV to get the job, the Supreme Court has said. The verdict saw the Supreme Court take a “middle way” approach in ruling that former St Margaret’s Hospice chief executive [...]
Lloyd’s of London tells insurers to halt covering state-backed cyberattacks August 18, 2022 Lloyd’s of London has said its insurers will be required to stop covering state-backed cyberattacks in their standard cyber insurance policies. The centuries-old insurance marketplace told its underwriters to make exclusions for cyberattacks launched by governments and state actors, over concerns such attacks could expose the market to unmanageable losses. “If not managed properly [a [...]
Liz Truss to launch ‘war on technocrats’ by merging City watchdogs August 18, 2022 Tory leadership frontrunner Liz Truss is planning an immediate shakeup of the City’s major regulators if she wins the race to become prime minister. Truss is planning to merge the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA), and Payments System Regulator (PSR) into a single, new body. The Conservative party MP’s plans comes [...]
PwC partners take more than £1m each as consulting arm bolsters firm’s revenues August 18, 2022 PwC today posted “exceptional” results for the past financial year after surging demand for advice, in the face of “challenges and opportunities on multiple fronts,” bolstered the accountancy firm’s revenues The uptick in revenues for the year ended on 30 June 2022 will see partners at the accounting firm receive payouts of £920,000 – up [...]