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@icaew.bsky.social
258 followers 71 following 101 posts

Providing insight and leadership to our members and to the global accountancy and finance profession.

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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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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
Profile photo of Eva Andriani with the following text overlaid "Social impact leadership award: Eva Andriani, Grantham Centre for Sustainable Futures"
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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
➡️ Fines for persistent late payers under new rules ow.ly/QyRa50Yyzqh
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Fines for persistent late payers under new rules
Following years of campaigning from ICAEW, the UK government has announced new powers for the Small Business Commissioner to investigate, adjudicate on and issue fines for cases of late payments.
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ICAEW @icaew.bsky.social · 25/03/2026
➡️ Close companies face additional reporting requirements ow.ly/2Cf050Yyzql
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Close companies face additional reporting requirements
Under new government proposals, close companies will have to report details of transactions with participators to HMRC, including the amount, date and details of the recipient for each transaction.
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ICAEW @icaew.bsky.social · 25/03/2026
➡️ caba - Reach out - don't burn out ow.ly/RABr50Yyzqg
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Mental health and wellbeing
There is now a far greater understanding that we should look after our mental health in the same way that we care for our physical health. We know that it can fluctuate from good to poor throughout an...
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ICAEW @icaew.bsky.social · 25/03/2026
➡️ How to maximise supplier relationships in tough times ow.ly/IguK50Yyzqk
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How to maximise supplier relationships in tough times
While it may be tempting to shift payment terms to preserve working capital, the fallout could be more damaging to business stability. Find out what practical steps finance teams can take to improve r...
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ICAEW @icaew.bsky.social · 25/03/2026
➡️ Four ways this SME manufacturer protected itself from volatility ow.ly/HVhV50Yyzqi
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Four ways this SME manufacturer protected itself from volatility
Michael Smith Switchgear Limited insulated itself from energy and supply chain issues through an approach to sustainability that permeates every aspect of its business – meeting industry net zero targ...
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ICAEW @icaew.bsky.social · 25/03/2026
➡️ AI governance: what boards need to consider ow.ly/IHuf50Yyzqj
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AI governance: what boards need to consider
Amid rapid pace of technological advancement, a panel talk reminds ICAEW members that AI tools are not infallible – and require an attentive governance approach from boards
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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
➡️ Government publishes UK Sustainability Reporting Standards ow.ly/Kxtt50YlXh1
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Government publishes UK Sustainability Reporting Standards
On 25 February 2026, the Department for Business and Trade published UK Sustainability Reporting Standards (UK SRS), which represents a key development in the evolution of UK corporate reporting.
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ICAEW @icaew.bsky.social · 27/02/2026
➡️ HMRC webinar: ensuring tax returns are correct and complete ow.ly/1kOO50Ymv0W
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HMRC webinar: ensuring tax returns are correct and complete
In its webinar on 4 March 2026, HMRC will explain the key points from its guidance on ensuring documents filed with HMRC are correct and complete and take questions from attendees.
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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 · 05/01/2026
2026 has landed! Hear from ICAEW experts on the important issues members need to think about over the next 12 months. ow.ly/txNM50XRX3T #icaewInsights #2026
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Prepare for 2026
Accountants face some significant challenges, but also some key opportunities in 2026. Hear from ICAEW experts on the important issues that members need to be thinking about over the next 12 months.
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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
➡️ Chart of the week: Employment costs - ow.ly/sQZU50WVFwC
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ICAEW @icaew.bsky.social · 12/09/2025
➡️ Finding investors for a specialist medical start-up - ow.ly/CeJH50WVFwE
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ICAEW @icaew.bsky.social · 12/09/2025
➡️ Supreme Court motor finance ruling: six key questions for financial services - ow.ly/V8fZ50WVFwB
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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
Government launches UK sustainability assurance regime consultation: www.icaew.com/insights/vie...
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ICAEW @icaew.bsky.social · 04/07/2025
Chart of the week: Energy price cap: www.icaew.com/insights/vie...
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ICAEW @icaew.bsky.social · 04/07/2025
Financial Services Sector Plan - what ICAEW wants: www.icaew.com/insights/vie...
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ICAEW @icaew.bsky.social · 04/07/2025
ICAEW seeks views on UK transition planning: www.icaew.com/insights/vie...
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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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