Menzies LLP - A leading chartered accountancy firm. STRATEGIC REVIEW With the increased pressure on funding and the Charity Commission’s continued focus on public benefit, charities must be clear in their objectives and provide demonstrable and objective outcomes to their stakeholders. We independently review how well an organisation reports on its performance against objectives, helping ensure the content of their Annual Report cover the necessary reporting requirements and suggesting improvements as necessary. Where appropriate, we also help clients explore mergers with similar organisatio ..read more

Menzies LLP - A leading chartered accountancy firm. In the ever-evolving landscape of ecommerce, the sector continues its upward trajectory, with global online sales consistently on the rise. The COVID-19 pandemic accelerated the shift to online shopping, and this trend has persisted post-pandemic, indicating a fundamental change in consumer behaviour. Businesses are embracing omnichannel strategies, integrating online and offline channels to provide seamless shopping experiences. Additionally, the rise of mobile commerce, social commerce, and innovative technologies such as augmented reali ..read more

Menzies LLP - A leading chartered accountancy firm. EMBRACING SUSTAINABILITY The call for sustainability is echoing louder across industries, including financial services. With increasing environmental concerns and societal expectations, businesses are under pressure to integrate sustainability into their operations and investment strategies. We assist our clients in incorporating sustainable practices, enabling them to not only meet regulatory obligations but also contribute positively to the planet and society. HARNESSING THE THE POWER OF TECHNOLOGY AND AI Advancements in technology and ar ..read more

Menzies LLP - A leading chartered accountancy firm. Hospitality & Leisure has arguably been the most severely hit sector over the last few years, and although the sector is showing signs of recovery, trading conditions remain challenging with high  costs and ongoing labour shortages. Rising living costs are impacting consumer choices, as is an emphasis on sustainability, which is proving crucial for attracting consumers and employees alike. KEY CHALLENGES OF THE HOSPITALITY AND LEISURE SECTOR Staff shortages and wages inflation – including new minimum wage Supply chain issues, ris ..read more

Menzies LLP - A leading chartered accountancy firm. TECHNOLOGY Manufacturers need to utilise the latest technology to stay relevant, innovative and competitive. Their biggest challenge is how best to use technology to achieve operational goals such as reducing costs, improving quality, productivity and safety whilst pushing product innovation. Without investment in automation and other digital technologies, they risk losing market share to competitors. Strategic investment in AI and robotics is increasingly crucial to deliver long-term value and business sustainability. Embracing Industry 4 ..read more

Menzies LLP - A leading chartered accountancy firm. The property and construction sector has experienced real challenges of late. Growth has been subdued, with issues of housing supply, scarcity of affordable land, tax changes, and planning approvals remaining a problem. OVERSEAS INVESTORS Some of the biggest tax changes in recent years have impacted overseas investors of UK property bringing them into the UK tax regime for the first time. The UK is still an attractive investment and exchange rates have benefitted overseas investment but the uncertain economic climate has definitely impacte ..read more

Menzies LLP - A leading chartered accountancy firm. These are tumultuous times for the UK’s retail sector. A shift in consumer spending habits and the rapid growth of online shopping platforms, alongside a cost-of-living crisis, has reduced footfall on the high street and placed increased pressure on the operating margins of many retailers. Despite this, UK retail sales have topped £500 billion recently, and businesses in the sector are striving to differentiate their offerings through providing an enhanced, sustainable, and personalised customer experience, investing in innovative products ..read more

Menzies LLP - A leading chartered accountancy firm.  ENVIRONMENT Air quality legislation has led to the introduction of Clean Air Zones and Ultra Clean Air Zones in towns and cities across the UK. For road hauliers and freight forwarders, the restrictions imposed are increasing costs and putting further pressure on operating margins and cash flow. Business owners in the sector should harness data and manage cash flow carefully. Strategic divestments could help to raise the funds needed to invest, which may in turn help to minimise corporate tax liabilities by creating an opportunity to ..read more

Menzies LLP - A leading chartered accountancy firm. INVESTING IN INNOVATION The UK is the fourth most innovative country in the world, according to the latest Global Innovation Index, and the Government’s Industrial Strategy is aiming to increase spending on R&D by 2.4% by 2027. For technology businesses, it is important to take advantage of Government-backed networks and programmes whilst developing a strategic plan and practising strong working capital management. This approach will improve access to the finance needed for R&D activities. SMART DATA ADVANTAGE Many technology bus ..read more

Menzies LLP - A leading chartered accountancy firm. Forgetting to file a form on time, incorrect company name, registration number or figures in your calculations on forms, are all common mistakes which are easily made, but with the new Companies House powers… “Ensure information contained in the register is accurate and that the register contains everything it ought to contain; and ensure that records kept by the registrar do not create a false or misleading impression to members of the public”. It is imperative that these errors are corrected. From the 4th of March 2024, the new Companies H ..read more