Connect with us

Top Stories

FREEAGENT AND ICS AGREE NEW PARTNERSHIP TO HELP UK CONTRACTORS WITH THEIR DIGITAL ACCOUNTS

Published

on

FREEAGENT AND ICS AGREE NEW PARTNERSHIP TO HELP UK CONTRACTORS WITH THEIR DIGITAL ACCOUNTS

Innovative cloud accounting software provider FreeAgent has teamed up with one of the UK’s leading accountancy firms to provide hundreds of contractors with greater clarity over their business finances.

FreeAgent, whose award-winning software is designed for accountants working with contractors and micro-businesses, has agreed a new partnership with ICS who provide accountancy and administration services to thousands of contractors across the UK. The deal will see up to 1,500 of ICS’s contractor clients using the FreeAgent platform to manage their day-to-day digital accounts, while providing their accountants with the most effective way of working with them.

Under the partnership, ICS clients will use FreeAgent to manage key tasks including business expenses, invoicing, banking, time tracking, project management and tax forecasting. Using this data, ICS will then be able to collaborate more effectively with clients over the daily financial admin and provide deeper, expert insights into their business accounts.

Ed Molyneux, CEO and co-founder of FreeAgent said: “With the government’s Making Tax Digital plans currently being finalised, accountancy firms are increasingly recognising the value in investing in the best systems to help them support their clients, work more effectively with them and get them prepared for the changes ahead.”

“We’re delighted that ICS has recognised the value that FreeAgent can bring to their business and how we can help them provide the best possible service to the contractor clients. ICS is one of the leading names in UK contractor accountants, so we’re really looking forward to working with them and strengthening our partnership in the years ahead.”

John Lyon, Managing director of ICS, said: “Our partnership with FreeAgent is an exciting development for us and will add an extra dimension of customer service for our clients. FreeAgent is an impressive operation – it is an established brand with a great reputation. They have invested heavily in technology which is why the software is so user friendly and advanced.”

“A key benefit of the system is accessibility – our clients can easily manage their accounts and admin using the software. The ease of use means they will have more time to concentrate on efficiently and effectively running, developing and growing their businesses.”

“FreeAgent has a solid understanding of our industry, together with the freelancer, contractor and SME markets. The software was developed with those markets in mind, making it an ideal partnership for us.”

Top Stories

Britain’s Heathrow sinks to $2.8 billion loss during pandemic

Published

on

Britain's Heathrow sinks to $2.8 billion loss during pandemic 1

LONDON (Reuters) – Britain’s Heathrow Airport plunged to a 2 billion pound ($2.8 billion) annual loss after passenger numbers collapsed to levels last seen in the 1970s during the pandemic.

Heathrow called on the government to agree a common international travel standard to allow passengers to start flying again in the summer and to provide business tax breaks for airports to help them ride out the crisis.

The airport, west of London, is hopeful that travel markets will reopen from mid-May after a government announcement on easing lockdown on Monday.

Still Britain’s biggest airport, Heathrow last year lost its title as the busiest in Europe to Paris as its flight schedules contracted more than its rival’s.

The airport said on Wednesday that during 2020 passenger numbers shrunk 73% to 22 million people, with half of those people having travelled during January and February before COVID-19 shut down global travel.

The airport sunk to a 2 billion loss before tax on revenues which were down 62% to 1.18 billion pounds, but Heathrow said it had 3.9 billion pounds of liquidity and that could keep it going until 2023.

The airport is owned by Spain’s Ferrovial, the Qatar Investment Authority and China Investment Corp, among others.

($1 = 0.7044 pounds)

(Reporting by Sarah Young; Editing by Kate Holton and James Davey)

Continue Reading

Top Stories

Strong exports, construction boost German economy in fourth quarter

Published

on

Strong exports, construction boost German economy in fourth quarter 2

BERLIN (Reuters) – Bullish exports and solid construction activity helped the German economy to grow by a stronger-than-expected 0.3% in the final quarter of last year, the Federal Statistics Office said on Wednesday, revising an earlier estimate.

The office, which previously had reported a 0.1% expansion on the quarter from October to December, said it also revised upward its 2020 full-year GDP figure for Europe’s largest economy to -4.9% from -5.0%.

Adjusted for calendar effects, the economy last year shrank by 5.3%, which was a much smaller contraction than many other European countries recorded, mainly due to a strong fiscal response of Chancellor Angela Merkel’s government to the COVID-19 pandemic.

The debt-financed fiscal splurge created an overall state budget deficit of 139.6 billion euros or 4.2% of gross domestic product in 2020, the office said. This was the first deficit since 2011 and the second-highest since German reunification.

(Reporting by Michael Nienaber; Editing by Maria Sheahan)

Continue Reading

Top Stories

UK’s Sunak could extend stamp duty holiday until June-end – The Times

Published

on

UK's Sunak could extend stamp duty holiday until June-end - The Times 3

(Reuters) – British finance minister Rishi Sunak is preparing to extend the stamp duty holiday by three months until the end of June in an attempt to boost activity in the housing market as the country emerges from lockdown, The Times reported on Wednesday.

The extension to the policy, which covers sales of properties worth up to 500,000 pounds ($708,100), could cost the government 1 billion pounds, the report https://bit.ly/3sglJoS added.

Britain raised the threshold of property tax to 500,000 pounds last July from 125,000 pounds, exempting nine of 10 people buying a main home from stamp duty. The temporary cuts are set to expire in March 2021.

Sunak will use his annual budget on March 3 to move the policy to the end of June, bringing it in line with the easing of lockdown restrictions, the newspaper said.

He will also announce plans to raise corporation tax while Treasury officials are considering a 25% tax hike.

Sunak said on Tuesday that he would set out more details of job support measures at his budget next week, after official figures showed unemployment had risen to its highest since early 2016.

($1 = 0.7061 pounds)

(Reporting by Aishwarya Nair in Bengaluru, Editing by Sherry Jacob-Phillips)

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

Call For Entries

Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Latest Articles

Former BOJ executive calls for 'genuine' review of central bank stimulus 4 Former BOJ executive calls for 'genuine' review of central bank stimulus 5
Banking26 mins ago

Former BOJ executive calls for ‘genuine’ review of central bank stimulus

By Leika Kihara and Takahiko Wada TOKYO (Reuters) – The Bank of Japan must abandon the view it can influence...

Britain's Heathrow sinks to $2.8 billion loss during pandemic 6 Britain's Heathrow sinks to $2.8 billion loss during pandemic 7
Top Stories31 mins ago

Britain’s Heathrow sinks to $2.8 billion loss during pandemic

LONDON (Reuters) – Britain’s Heathrow Airport plunged to a 2 billion pound ($2.8 billion) annual loss after passenger numbers collapsed...

Puma forecasts strong rebound from end of second quarter 8 Puma forecasts strong rebound from end of second quarter 9
Business34 mins ago

Puma forecasts strong rebound from end of second quarter

BERLIN (Reuters) – German sportswear company Puma said on Wednesday it expects a heavy impact on its results from lockdowns...

Vodafone's Vantage Towers announces intention to float 10 Vodafone's Vantage Towers announces intention to float 11
Business37 mins ago

Vodafone’s Vantage Towers announces intention to float

LONDON (Reuters) – Vantage Towers, the mobile infrastructure company spun out of Vodafone Group, on Wednesday announced its intention to...

Strong exports, construction boost German economy in fourth quarter 12 Strong exports, construction boost German economy in fourth quarter 13
Top Stories42 mins ago

Strong exports, construction boost German economy in fourth quarter

BERLIN (Reuters) – Bullish exports and solid construction activity helped the German economy to grow by a stronger-than-expected 0.3% in...

Metro Bank expects defaults to rise as COVID-19 support measures fade out 14 Metro Bank expects defaults to rise as COVID-19 support measures fade out 15
Banking48 mins ago

Metro Bank expects defaults to rise as COVID-19 support measures fade out

(Reuters) – Metro Bank posted a much bigger annual loss on Wednesday and said it expects defaults to rise through...

UK's Sunak could extend stamp duty holiday until June-end - The Times 16 UK's Sunak could extend stamp duty holiday until June-end - The Times 17
Top Stories50 mins ago

UK’s Sunak could extend stamp duty holiday until June-end – The Times

(Reuters) – British finance minister Rishi Sunak is preparing to extend the stamp duty holiday by three months until the...

Smarshop-ed –Banks need to embrace whatsApp Smarshop-ed –Banks need to embrace whatsApp
Banking1 hour ago

As We Get Back to the Future of Work, Banks Must Embrace WhatsApp

By Shaun Hurst, Technical Director, Smarsh If you had told me a year ago that the world’s major financial services...

Lloyds profits fall as it targets wealth push 18 Lloyds profits fall as it targets wealth push 19
Business1 hour ago

Lloyds profits fall as it targets wealth push

LONDON (Reuters) – Lloyds Banking Group reported a sharp fall in profits for 2020 but resumed paying a dividend, as...

2020 - Significantly lower returns in prospect than in 2019 2020 - Significantly lower returns in prospect than in 2019
Investing2 hours ago

How to give your investment portfolio a Spring clean

By Alexander Joshi, Behavioural Finance Specialist, Barclays Private Bank Spring is often a time of optimism and change, and in...

Newsletters with Secrets & Analysis. Subscribe Now