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ICAEW @icaew.bsky.social · 02/07/2026

65% of firms flag geopolitical risk as top challenge. Explore the latest findings here: ow.ly/y8pe50Zj2sy #BusinessConfidence #BusinessInsights #GeopoliticalRisk #GlobalBusiness

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Reposted by ICAEW

Martin Wheatcroft @martinwheatcroft.bsky.social · 05/06/2026

My #icaewchartoftheweek for @icaew.bsky.social is on the OBR's latest forecast evaluation report, showing the big differences between the March 2024 one-year forecast for the 2024/25 fiscal deficit of £87bn and the £152bn outturn. Read more: www.icaew.com/insights/vie...

ICAEW chart of the week: OBR forecast evaluation.

A step chart showing the differences between the March 2024 forecast of the fiscal deficit for the year ended 31 March 2025 and the outturn.

March 2024 forecast: £87bn.
Economic factors: -£19bn.
Debt interest: +£18bn.
Revenue overestimate: +£21bn.
Spending underestimate: +£20bn.
Policy changes: +£25bn.
= 2024/25 outturn: £152bn.

5 Jun 2026. Chart by Martin Wheatcroft FCA.
Source: Office for Budget Responsibility, Forecast evaluation report June 2026.

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Grantham Centre for Sustainable Futures @granthamcsf.bsky.social · 02/06/2026

A huge congratulations to our Grantham Scholar, Eva Andriani, on winning the Social Impact Leadership Award at this year's ICAEW Finance of the Future Awards! 🥳 Read more about Eva's research project on co-designing financial literacy tools for street vendors in Indonesia. 🔗 tinyurl.com/2fv89v25

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Martin Wheatcroft @martinwheatcroft.bsky.social · 08/05/2026

My #icaewchartoftheweek for @icaew.bsky.social is on the top military spenders in 2025 per @sipri.org. Most of the blue NATO circles should grow in size to meet the new NATO commitment of 3.5% of GDP. The question is where they will find the money? Read more: www.icaew.com/insights/vie...

ICAEW chart of the week: Top 20 military spenders.

A bubble chart showing the relative amounts of military spenders.

US $954bn, China $336bn, Russia $190bn, Germany $114bn, India $92bn, the UK $89bn, Ukraine $84bn, Saudi Arabia $83bn, France $68bn, Japan $62bn, Israel $48bn, Italy $48bn, South Korea $48bn, Poland $47bn, Spain $40bn, Canada $37bn, Australia $35bn, Türkiye $30bn, the Netherlands $29bn, Algeria $25bn.

8 May 2026. Chart by Martin Wheatcroft FCA. Source: Stockholm International Peace Research Institute, World Military Expenditure 2025 in current US$.

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Martin Wheatcroft @martinwheatcroft.bsky.social · 10/04/2026

My #icaewchartoftheweek for @icaew.bsky.social is on #internationaltrade this week, showing how a £205bn surplus on services #exports and #imports was offset by a £243bn deficit on goods - a trade deficit of £38bn, or £16bn if precious metals are excluded Read more: bit.ly/4ttJ9qk

ICAEW chart of the week: International trade.

A three-section step chart showing the components of the UK trade deficit of £38bn in 2025.

First section (on the left): Services exports in green £546bn - services imports in blue (£341bn) = a surplus in services trade in purple of £205bn.

Second section: Goods exports in green £382bn - goods imports in blue (£603bn) = a deficit on trade excluding precious metals in purple of £221bn; combined with precious metals exports in light green of £2bn - imports in light blue of £24bn = a deficit on trade in precious metals in light purple of £22bn.

Third section (on the right): Net trade deficits going below the line of £16bn on trade excluding precious metals in purple and £22bn on trade in precious metals in light purple - a total of £38bn.

10 Apr 2026. Chart by Martin Wheatcroft FCA.
Source: ONS, UK balance of payments: 31 Mar 2026.

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ICAEW @icaew.bsky.social · 25/03/2026

Get the latest on AI, government policy and industry with our midweek Insights round up. ⬇️🧵

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ICAEW @icaew.bsky.social · 14/03/2026

UK Sustainability reporting Standards (UK SRS) have now been introduced. As Ravi Abeywardana explains on the Accountancy Insights podcast – it's CPD – it might not be as big a leap for businesses as it might seem. Listen: ow.ly/8gSq50YtYxs #podcast #sustainability #icaewInsights

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ICAEW @icaew.bsky.social · 07/03/2026

Corporate reporting is changing in 2026. How should preparers prepare? Sally Baker, ICAEW's Head of Corporate Reporting Strategy, explains where to start on the latest Accountancy Insights podcast. Listen here (Don't forget – it's CPD): ow.ly/24qW50Yq1Hx #icaewInsights #podcast

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ICAEW @icaew.bsky.social · 27/02/2026

Missed this week's news in the world of finance and productivity? Here's the weekly round up 👇 ➡️ Prepare for 2026/27: Key changes for businesses ow.ly/aKrI50YmQfq ➡️ Suren Thiru: Where is the UK Economy heading? ow.ly/xmtV50YmQfo 🧵👇

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Martin Wheatcroft @martinwheatcroft.bsky.social · 20/02/2026

My #icaewchartoftheweek for @icaew.bsky.social is on average earnings this week, showing how average monthly total pay fell by 0.2% in 2025 following much stronger growth in the previous two years. Read more: bit.ly/3OqvPnA

ICAEW chart of the week: Real pay.

A line chart showing average pay in actual and real terms over the past three years.

Average monthly total pay adjusted for CPI (+1.9%, +3.6%, -0.2%): £3,029, £3,086, £3,198 and £3,192 in Dec 2022, 2023, 2024 and 2025 respectively.

Average monthly total pay actual (+5.8%, +6.2%, +3.0%): £2,760, £2,919, £3,099 and £3,192 in Dec 2022, 2023, 2024 and 2025 respectively.

20 Feb 2026. Chart by Martin Wheatcroft FCA.
Source: ONS, 'Real average weekly earnings using CPI, Feb 2026'.
Seasonally adjusted; converted to monthly pay; in Dec 2025 £.

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ICAEW @icaew.bsky.social · 28/01/2026

Catch the leading stories so far 👇 ➡️ Suren Thiru: Why the UK economy is sending red herring signals ow.ly/BgHh50Y4Jc4 ➡️ Scottish business confidence low, forecasts weak ow.ly/u4cT50Y4Jc6 ➡️ Business confidence takes a tumble in Wales ow.ly/bm7k50Y4Jcn

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ICAEW @icaew.bsky.social · 14/01/2026

Catch up on the week's biggest stories (so far). 👇 ➡️ Business confidence dips further into negative territory ow.ly/a1xR50XWyRC ➡️ Will 2026 be AI’s year? ow.ly/3q5V50XWyRO ➡️ Case law development: internationally mobile employees ow.ly/xTZM50XWyRQ #icaewDaily #icaewInsights

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ICAEW @icaew.bsky.social · 14/01/2026

Business confidence drops to three-year low. Explore the latest ICAEW Business Confidence Monitor™️ here: ow.ly/CwI550XWz25 #BusinessConfidence #EconomicTrends #MarketInsights #BusinessNews #EconomicForecast #UKEconomy #Tax #Budget

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ICAEW @icaew.bsky.social · 07/01/2026

New on Insights 👇 ➡️ AI in Excel: pros and cons ow.ly/7kHo50XSYbl ➡️ 2026: Changes to accounting standards and more ow.ly/oatC50XSYbb ➡️ Agents may be overlooking IHT on cryptoassets ow.ly/tGgB50XSYaZ ➡️ Govt makes further concessions on IHT reforms ow.ly/9lYa50XSYaO

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ICAEW @icaew.bsky.social · 24/12/2025

Wishing all our students and members across the world a joyful holiday season and a bright and prosperous New Year. Bring on 2026! ✨ #christmas #newyear #students #xmas #2026

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ICAEW @icaew.bsky.social · 12/12/2025

Remain part of a network that is shaping business with confidence, integrity and innovation. Renew today: ow.ly/xwev50XIqK5 #icaewMembers

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ICAEW @icaew.bsky.social · 12/09/2025

New this week on the Insights Hub 🧵: ➡️ Pro-growth tax reforms to support small businesses - ow.ly/YbtI50WVFwA The Insights Hub is free for ICAEW members to access. #icaewDaily #tax #finance

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ICAEW @icaew.bsky.social · 04/07/2025

New news on the ICAEW Insights hub > New in the M&S Foodhall: a VAT dilemma: www.icaew.com/insights/tax...

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ICAEW @icaew.bsky.social · 02/07/2025

The ICAEW Code of Ethics 2025 takes effect today. Get your team up to speed with a few quick activities. Watch a video, take a quiz and discuss an ethical dilemma here: ow.ly/j4sP50WiRRa #icaewDaily #ethics

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ICAEW @icaew.bsky.social · 30/06/2025

The government is consulting on the first two draft UK Sustainability Reporting Standards, plus proposals on assurance and climate transition plans. Have your say by 17 September. Read more: ow.ly/4pFW50WieTG #icaewDaily #sustainability

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Martin Wheatcroft @martinwheatcroft.bsky.social · 27/06/2025

My #icaewchartoftheweek for @icaew.bsky.social illustrates the relative shares of economic activity around the world compared with population on both a market-exchange rate and purchasing power basis. Read more: bit.ly/46fES1l

A three column chart each adding up to 100% with the central bar showing percentages of the global population, the left-hand bar showing percentages of market GDP. and the right-hand bar showing percentage of power-purchasing-parity (PPP) GDP. The bars are linked with lines to emphasise the relative proportions.

US & Canada: Market GDP 29% - Population 5% - PPP GDP 16%.
Europe: Market GDP 23% - Population 7% - PPP GDP 18%.
China: Market GDP 17% - Population 17% - PPP GDP 20%.
Rest of the world: Market GDP 24% - Population 28% - PPP GDP 30%.
South Asia & China: Market GDP 7% - Population 43% - PPP GDP 16%.

27 Jun 2025. Chart by Martin Wheatcroft. Design by Sunday. Source: IMF, 'World Economic Outlook Database, Apr 2025'.

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Martin Wheatcroft @martinwheatcroft.bsky.social · 30/05/2025

My #icaewchartoftheweek for @icaew.bsky.social is on how quarterly GDP has increased by 21% over the last three years. Most of that has been inflation, with economic growth of just 2.8% - a fall of 0.5% on a per person basis. Read more: bit.ly/3HhsHGW

A step chart showing the change in quarterly GDP over three years.

Quarterly GDP in 2022 Q1 of £610.3bn + Inflation (GDP deflator) of £108.0bn (+17.7%) + Economic growth of £20.3bn (+2.8%) = £738.6bn in 2025 Q1.

Shaded box in the middle shows population growth of +£23.7bn (+3.3%) - per capita growth of £3.4bn (-0.5%) = +£20.3bn (+2.8%) for economic growth.

30 May 2025. Chart by Martin Wheatcroft FCA. Design by Sunday. Source: ONS, 'GDP first quarterly estimate, UK: Jan-Mar 2025'.

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ICAEW @icaew.bsky.social · 29/05/2025

Retail is under cyber threat. The M&S attack cost £300m and exposed major risks in supply chains and incident response. Read more on what happened, why it matters, and key lessons for every business: ow.ly/jITB50W0eZW #icaewDaily #cybersecurity

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Martin Wheatcroft @martinwheatcroft.bsky.social · 24/05/2025

My #icaewchartoftheweek for @icaew.bsky.social is on UK-EU trade in 2024 in the light of Monday's deal to reduce trade barriers put in place since Brexit. Read more: bit.ly/4kwUb9N @ukgovernment.bsky.social @eudelegationuk.bsky.social

Step chart on UK-EU trade in 2024.

Left hand column: UK imports from EU of £454bn (agriproducts £50bn + goods £264bn + services £140bn).

Steps: Less trade deficit on agriproducts of £33bn less trade deficit on goods of £107bn plus trade surplus on services of £47bn = an overall trade deficit of £93bn.

Right hand column: UK exports to EU of £361bn (agriproducts £17bn + goods £157bn + services £187bn).

23 May 2025. Chart by Martin Wheatcroft. Source: ONS, 'UK trade: goods and services publication tables'. (c) ICAEW 2025.

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ICAEW @icaew.bsky.social · 23/05/2025

HMRC collected or protected £5.2bn in tax from wealthy individuals in 2023-24 – up from £2.2bn in 2019-20. Discover what’s driving the spike in tax revenue and what it means for high-net-worth taxpayers: www.icaew.com/insights/tax...

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ICAEW @icaew.bsky.social · 20/05/2025

We are pleased that the UK-EU summit recognised the importance of professional qualifications, addressing barriers faced by UK service providers: ow.ly/V6vo50VVtxP #icaewDaily #brexit

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ICAEW @icaew.bsky.social · 19/05/2025

A number of taxpayers who appear to have claimed investors’ relief without a valid claim have been identified by @HMRCgovuk : ow.ly/Ug9U50VUNUv #icaewDaily #tax

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ICAEW @icaew.bsky.social · 15/05/2025

We are reminding employers of the 6 July deadline to submit employment related securities returns. Learn about the new process for transferring an employer’s national insurance contributions liability to an employee: ow.ly/Cwf450VT3HH #icaewDaily #tax

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ICAEW @icaew.bsky.social · 13/05/2025

We have flagged weaknesses in government plans to tackle tax advisers facilitating non-compliance, and suggest a different approach: ow.ly/YKV350VRGE1 #icaewDaily #tax

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ICAEW @icaew.bsky.social · 12/05/2025

We believe e-invoicing is the future and recommend that people voluntarily adopt the electronic process: ow.ly/w21Q50VQ9Hy #icaewDaily #tax

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ICAEW @icaew.bsky.social · 09/05/2025

Steel, farmers and cars to benefit from UK-US deal www.icaew.com/insights/vie... #economy #tariffs

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ICAEW @icaew.bsky.social · 09/05/2025

We are consulting on new Disciplinary Sanctions Guidance. For all the details, read the full article: ow.ly/22mR50VPQYW #icaewDaily #sanctions

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ICAEW @icaew.bsky.social · 07/05/2025

We welcome the new free trade agreement between the UK and India as 'a highly significant deal': ow.ly/95uq50VOjFT #icaewDaily #tariffs

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ICAEW @icaew.bsky.social · 07/05/2025

We have responded to the government’s proposed changes to inheritance tax, arguing against the scale and scope of the new plans: ow.ly/CBCl50VOiwQ #icaewDaily #tax

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ICAEW @icaew.bsky.social · 06/05/2025

The administrative burdens imposed on smaller UK-listed companies may be holding businesses back: ow.ly/gluI50VNvsF #icaewDaily #business

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Martin Wheatcroft @martinwheatcroft.bsky.social · 02/05/2025

My #icaewchartoftheweek for @icaew.bsky.social is on Canada this week, highlighting its trade surplus on energy sales to the US, and trade deficits on other goods and services. Read more: bit.ly/3RLw7UE

A step chart illustrating the differences between Canadian imports and exports in 2024.

Left hand column - US exports to Canada: C$601bn = C$36bn energy + C$442bn goods (excluding energy) + C$123bn services.

Right hand column - Canada exports to the US: C$650bn = C$171bn energy + C$404bn goods (excluding energy) + C$75bn services.

Step 1 - Trade surplus on energy +C$135bn.
Step 2 - Trade deficit on goods -C£38bn.
Step 3 - Trade deficit on services -C$48bn.

2 May 2025. Chart by Martin Wheatcroft FCA. Design by Sunday.

Sources: US Bureau of Economic Analysis; US International Trade Commission. C$1.37 = US1.

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ICAEW @icaew.bsky.social · 01/05/2025

The FRC has released guidance for companies to help them enhance their digital annual reports: ow.ly/YToU50VKGgB #icaewDaily #tax

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ICAEW @icaew.bsky.social · 29/04/2025

The introduction of enhanced US tariffs will inevitably strain UK-based and global businesses. We look at the potential impact of Trump’s tariffs: ow.ly/IViR50VJwI7 #icaewDaily #tariffs

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ICAEW @icaew.bsky.social · 25/04/2025

Increased employment costs are hitting SMEs the hardest and elements of the Employment Rights Bill could make hiring harder still, say our members: ow.ly/LnFX50VHB9Z #icaewDaily #government

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ICAEW @icaew.bsky.social · 22/04/2025

Taking your business to the next level can be extremely difficult. We explore the common challenges and best strategies for scaling up: ow.ly/c22B50VCw3W #icaewDaily #business

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ICAEW @icaew.bsky.social · 14/04/2025

A new survey on artificial intelligence reveals a willingness among chartered accountants to make use of it, but new skills are needed: ow.ly/hNQ950VzQh7 #icaewDaily #artificialintelligence

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ICAEW @icaew.bsky.social · 10/04/2025

What skills should the UK nurture to prepare accountants for an AI-driven future? In a round-table discussion, members give us their thoughts: ow.ly/pSHx50VxXT8 #icaewDaily #ai

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ICAEW @icaew.bsky.social · 07/04/2025

Since President Trump’s announcement last week, the word ‘tariff’ has been on everyone’s lips. Our brief guide helps explain what tariffs are and the impact they have: ow.ly/FyRZ50VvxvJ #icaewDaily #tariffs #TrumpTariffs

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ICAEW @icaew.bsky.social · 04/04/2025

The UK economic picture as set out in the Spring Statement is in jeopardy after President Trump’s sweeping tariffs make a global impact. Read more: ow.ly/vehw50VuvPH #icaewDaily #tariffs

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Martin Wheatcroft @martinwheatcroft.bsky.social · 04/04/2025

My #icaewchartoftheweek for @icaew.bsky.social looks at trade with the US in light of the 10% tariffs imposed on the UK by President Trump on ‘liberation day’. Read more: bit.ly/3R4JlLQ

ICAEW chart of the week: trade with the US -

A column chart showing the £71bn UK trade surplus with the US in the year to September 2024 (seasonally adjusted), being the difference between UK exports to the US of £182bn (£58bn in goods exports and £124bn in services exports) and UK imports from the US of £111bn (£56bn in goods imports and £55bn in services imports).

4 Apr 2025. Chart by Martin Wheatcroft FCA. Design by Sunday.
Source: DBT, 'United States Trade and Investment Factsheet, 21 Feb 2025'.

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ICAEW @icaew.bsky.social · 01/04/2025

Changes to our Code of Ethics will become effective on 1 July 2025. Have you familiarised yourself with the incoming updates? Read here: ow.ly/Rygi50Vshng #icaewDaily #ethics

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ICAEW @icaew.bsky.social · 31/03/2025

Several ICAEW member firms have had their HMRC agent accounts being suspended without notice. In its latest Agent Update, @HMRCgovuk explains why it takes this action and what agents need to do: ow.ly/UoWp50VrkNf #icaewDaily #taxnews

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Martin Wheatcroft @martinwheatcroft.bsky.social · 28/03/2025

My #icaewchartoftheweek for @icaew.bsky.social takes a look at how the Chancellor trimmed the government's spending plans to dig the public finances out of the hole created by a deteriorating fiscal forecast. Read more: bit.ly/3DLQq0N

Step chart showing changes to the 2029/30 forecast current budget balance since Oct 2024.

£10bn current budget surplus per the Oct 2024 forecast- £2bn lower growth - £10bn higher interest - £2bn other revisions = £4bn current budget deficit revised forecast + £5bn extra receipts + £11bn spending cuts - £2bn = £10bn current budget surplus per the Mar 2025 forecast.

The chart also shows how the Oct 2024 forecast fiscal deficit of £71bn = a current budget surplus £10bn - £81bn net investment; how the revised forecast of £84bn = £4bn current budget deficit + £80bn net investment; and how the Mar 2025 forecast deficit of £74bn = a current budget surplus £10bn - £84bn net investment.

28 Mar 2025. Chart by Martin Wheatcroft FCA. Design by Sunday.

Source: OBR, 'Economic and fiscal outlook, Mar 2025'.

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ICAEW @icaew.bsky.social · 28/03/2025

Jeremy Hunt's view that artificial intelligence could replace the knowledge, judgement and skills of professional accountants is misinformed. Our Chief Executive Alan Vallance explains why: ow.ly/6FZF50VpPFs #icaewDaily #ai

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