RSM UK

The message from the Budget announcement is clear: it’s going to be ‘painful’. But just how painful will it be? On 10 September, we’ll be hosting a lunchtime webinar from 12 pm to 1 pm, where Chris Etherington and a panel of RSM UK experts will break down what you need to know. They’ll cover key changes in personal tax, CGT, and inheritance tax, with insights from specialists like Rachel de Souza, Kate Clews, and Aysha Marley. This is a must-attend event for anyone looking to stay ahead of these critical developments. Sign up via the link in the comments below.

Has the UK economy reached a goldilocks period? Even though inflation will drift up a little, the Bank of England will still cautiously lower interest rates, lowering borrowing costs for consumers and businesses. However, the Autumn budget could prevent what would otherwise be favourable conditions for continued growth. A large increase in taxes could reduce consumers' ability and willingness to spend. Similarly, a big rise in business taxes could weigh heavily on investment. Political stability, falling interest rates and enhanced confidence have made the economy as positive as we’ve seen it in recent years. So, between now and the Budget, businesses and consumers should continue to ride this current wave of growth and greater investment. Read our full analysis on how the UK’s economy has developed over the past quarter and how it could change in the coming months: https://lnkd.in/gP4jsAPR

The sun shone on the UK hotel industry in July, with occupancy and profitability soaring, according to the latest RSM Hotels Tracker. Chris Tate, head of hotels and accommodation at RSM UK, said: “It’s encouraging to see occupancy levels and profits back to pre-pandemic levels. The warmer weather and the holiday season have kept the momentum strong for the hotel industry.” With Taylor Swift’s Eras Tour having a noticeable impact on the industry this summer, the question now is: Can Oasis create a similar buzz next year, or will hospitality be left looking back in anger? https://lnkd.in/evs_YXc8

Never-ending summer, or early winter for the UK economy? We’re keeping a close eye on several key indicators that will give us a clearer picture of the UK economy’s trajectory.- here’s what to watch this week: 🏭 Monday: The Manufacturing PMI is out today, and we’re expecting to see another uptick, potentially surpassing last month’s activity, which marked the highest rebound in over two years. This could signal further strength in the manufacturing sector. 🏨 Monday (Part 2): Our Hotels Tracker shows that the UK hotel industry enjoyed another strong month in July, with occupancy and profits boosted by better weather and summer holidays. It’s been a promising season for the sector. 📉 Tuesday: Don’t miss our Economic Outlook report, where we take a quarterly deep dive into the state of the UK economy. This comprehensive analysis will help you understand the trends and factors that could impact your business in the coming months. 📊 Wednesday: The Composite PMI will be released, reflecting the continued recovery in the UK economy. However, a key question remains: Will services inflation continue to be sticky, or are we starting to see some easing? 🚧 Thursday: The Construction PMI will be in focus. Last month’s upward trend was promising, driven by the government’s renewed commitment to getting Britain building again. We’re here to help you make sense of these developments and what they mean for you and your business. Stay tuned for more insights throughout the week.

Thinking of crossing into Ireland? Tax is the one border you can’t avoid. Cross-border trade between the UK and Ireland remains strong post-Brexit, but with this comes complex tax implications that businesses need to navigate. From VAT to permanent establishments, ensuring compliance is critical. In her article, Angela Keery, Tax Director at RSM UK, discusses the key tax considerations for UK businesses operating in Ireland. It's essential to understand your obligations to avoid potential pitfalls. Want to know more about the complexities of operating across borders? Click to read Angela's full insights.

The UK economy is finally showing strong signs of recovery after four years of stagnation, but what comes next? Thomas Pugh, our UK Economist, breaks down the latest growth figures and shares his outlook for 2024 and beyond. Discover why the post-stagnation era might bring steady growth and what could be driving the next phase of economic expansion.

Inflation trends can be tricky, but there’s a key insight that might surprise you. Our UK Economist, Thomas Pugh, dives into the details that matter most for the UK's economic outlook, including why service inflation is more important than you think — and why the latest data might just change the conversation around interest rates. Check out his full analysis and stay ahead of the curve.

As we enjoy the sunshine this week, it's not just the weather heating up. Here are some key economic updates to keep on your radar this week: 📊 Today: We saw the labour market data release earlier this morning, and though wage growth fell quite sharply, the unemployment rate fell. 💷 Wednesday: Inflation figures will be in the spotlight. We're anticipating a rise to 2.3%, but services inflation is the crucial number, and that should still fall. 📈 Thursday: The GDP figures are set to be released, giving us a clearer picture of economic growth. We’re expecting June to come in a bit flat, but looking at Q2 as a whole and we should see another gangbusters quarter.

The latest Construction PMI results reveal a shift in sentiment. With the rise in housing transactions, and major projects moving on there’s a palpable sense of optimism in the air. However, alongside this positive outlook, questions linger about the sustainability of growth. How will the industry secure funding for continued expansion? And how can it address the ongoing shortage of skilled labour? Kelly Boorman, our National Head of Construction, sheds light on these critical issues, offering her expert insights into the challenges and opportunities ahead for the construction sector.

As we observe a noticeable stagnation in the formation of new tech companies, many are wondering: What are the causes behind this recent slowdown in tech incorporations? How are government spending cuts impacting the tech sector? And is there a need for strategic government action to bolster the industry? Ben Bilsland, our Head of Tech, addresses these critical questions, shedding light on the potential headwinds and exploring opportunities for the UK to maintain its competitive edge on the global stage.