January 4, 2024
The December 2023 issue of the Kreston Brighture newsletter delves into recent advancements in financial and tax policies. This section highlights the latest changes, offering insights into their implications for both businesses and individuals.
November 22, 2023
Kreston Global firm, Brighture, shares its expertise in its latest newsletter covering financial news and updates from China.
July 28, 2023
Kreston Global firm, Brighture, shares its expertise in its latest newsletter covering financial news and updates from China.
July 17, 2023
If you are planning on investing in North America in 2023, Kreston Global has launched a comprehensive guide to expanding into the North America region with the new publication, “North America”. This inaugural edition of “Doing Businesses in North America”, written by Kreston Global experts within the region, offers invaluable advice on navigating the market requirements in this region, and setting up investors for success.
Kreston Global has an impressive footprint in the North American region, with over 50 offices and more than 6,500 staff to support businesses expanding into the US, Canada and the Bahamas.
Incorporating one of the leading advisory and assurance organisations in the United States, CBIZ/MHM, as a member of our network, along with our Canadian firm Kreston GTA and our Bahamian firm, Kreston Bahamas, we offer North American clients and new market participants access to extensive expertise and regional coverage. In this edition of “Doing Business in North America,” we look into the evolving banking sector in the Bahamas and forthcoming regulations surrounding cryptocurrencies, providing a comprehensive overview. Additionally, MHM’s President provides an insightful outlook on the audit sector, while CBIZ MHM’s innovation leaders share valuable insights on safeguarding the growth of your business for the future.
March 6, 2023
If you are planning on investing in Asia Pacific in 2023, Kreston Global has launched a comprehensive guide to expanding into the Asia Pacific region with the new publication, “Doing business in Asia Pacific”. This inaugural edition of “Doing Businesses in Asia Pacific”, written by Kreston Global experts within the region, offers invaluable advice on navigating the market requirements in this region, and setting up investors for success.
Kreston Global capabilities in the Asia Pacific region are both geographically and commercially diverse, with 21 exciting markets and locations, represented by 46 member firms with 146 offices and 6, 000+ professionals across the region, generating over US $490 million in fees each year.
The guide includes detailed features covering the economic outlook for 2023 and recommended sectors that are highlighted by local experts as ready for investment. Australia, China, Thailand and India are larger features, with summaries for New Zealand and Malaysia and plenty of advice on how to practically set up businesses in the region.
February 8, 2023
Sector: Finance
BANSBACH has acquired strong partners in the growth region of Lake Constance, with Dr. Altmann in Überlingen, the tax consultancy firm Böttinger in Frickingen-Altheim and Bodensee Treuhand GmbH Wirtschaftsprüfungsgesellschaft, effective 1 January 2023.
With a total of 35 colleagues, WP/StB Dr. Michael Altmann and WP/StB Wendelin J. Böttinger will manage their respective locations and, together with StB Olaf Gläser, will be responsible for the development of the Lake Constance region. Bodensee Treuhand will provide auditing services alongside BANSBACH GmbH. This merger enables BANSBACH to offer its comprehensive advisory services in the Lake Constance area, with continuity through regular contacts and personnel. Services include bookkeeping, preparation, and auditing of annual financial statements, accounting and audit-related consulting services, national and international tax and legal consulting, transaction services, and business consulting services for CFOs.
For more information on the ongoing BANSBACH growth and doing business in Germany, click here.
January 28, 2022
Sector: Charities, Not-For-Profit and Education
UK – Each year, a team of Kreston Global UK firms work together to produce an annual benchmark academy report. The survey includes data from 300 trusts representing over 1,500 schools and covers the 2020/21 academic year. This year is the 10th year of reporting, which was a collaboration between Bishop Fleming, Duncan and Toplis, Mitchell Charlesworth, BHP, Clive Owen LLP, Kreston Reeves and James Cowper Kreston.
Highlights of the report include
The average in-year financial surplus for a multi-academy trust (MAT) doubled to more than £460k in 2021 up from £221k in 2020. This comes from reduced costs and government funding during Covid. The money will now be invested in improving the education and well-being of pupils, post-Covid.
Staff costs across all schools have stayed static, with secondary staff costs rising for the 9th year in a row due to a skills shortage, particularly for learning support staff and supply cover.
Nearly 65% of trusts reported expected growth in 2022/23.
Just 14% of trusts are confident their surplus would remain the same for the next 3 years.
97% of trusts are now partly or fully centralised, opting to have one centre for services such as HR, finances and estates.
The percentage of academy trusts pooling funding centrally and distributing it due to individual school needs has risen from 11% in 2020 to 14% in 2021.
If you have a UK-based academy trust and would like accounting advice and support, please contact one of our members here.
September 2, 2021
A global minimum tax rate of 15% was one of the central topics of the June 2021 G7 meeting in Cornwall. It aims to reduce tax competition and profit shifting in all economic sectors. The ultimate goal is to ensure that the global profits of multinational enterprises would be taxed at an effective tax rate. This move would be disadvantageous for some developing countries, while for some others it would be beneficial.
Taxation magazine’s latest piece discusses the potential impact of the proposed G7 minimum tax deal on developing countries.
Below are the key points from the article:
Read the full article here.
August 9, 2021
Sector: Charities, Not-For-Profit and Education
Our UK Charities group have published a recent survey looking at the impact of Covid on the sector, and what the outlook is for charities and not-for-profit as we move into what looks like a more positive phase in 2022 and beyond. Whereas some parts of the sector were very badly affected, others saw revenues hold steady and even increase as the general public’s awareness of their contribution increased during the pandemic.
67% of the arts, culture and sports charities reported a reduction in income, as did the private education sector who saw both a reduction in income and costs increasing as a result of additional PPE, cleaning costs and remote working technology. Remaining organisations’ income remaining steady, with 53% of charities seeing an increase in demand during the pandemic, and just 20% reporting a fall. More than 95% of respondents consider their charity to have been financially resilient during the pandemic, and almost 80% are happy with their current reserves levels. Going forward, over 70% expect an increase in demand from beneficiaries, with 30% anticipating a significant increase. 97% however feel they will be able to survive for the next 12 months.
Unsurprisingly, technology has played a large part in service provision, with 57% providing more services online.
January 28, 2021
January 25, 2021
December 17, 2020
November 23, 2020
November 18, 2020
November 17, 2020
October 6, 2020
October 1, 2020
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July 2, 2020
