Listed below are our UK press releases, providing an overview of our activities and opinions over the last 18 months. Our most recent press releases can be found at the top of the page.
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| Realising value from a Chief Information Officer |
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01 December 2008 |
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- CIO role is transitory with a clear beginning, middle and end
- Tensions arise when the CIO is out of sync with business needs
The information age may be upon us, but the value of information has yet to be fully exploited by British companies. Though the majority of UK companies have an IT director – too few have a Chief Information Officer (CIO) on the senior management team. As a consequence, too few companies are using their information assets to power innovation, strategy and growth.
According to a new report from Cranfield School of Management and Deloitte the Chief Information Officer should be... |
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| Online sales set to rise by 10% this Christmas |
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01 December 2008 |
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Online Christmas sales are set to increase by 10% this year as more consumers use the internet for their Christmas gift and food shopping, according to research from the business advisory firm, Deloitte. Total online spend is estimated to reach £4.7 billion this year, up 10% on 2007 (£4.2 billion).
Ian Geddes, Lead Retail Consulting partner at Deloitte, said: “Although our research shows that the overall number of consumers using the internet for Christmas shopping is stable, these people are using the internet more often and spending more online than ever before. Consumers who do most of their shopping online are expecting... |
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| Deadline looms for claiming back share option capital losses |
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29 November 2008 |
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The sale of shares acquired by means of an option exercise could give rise to a recoverable capital gains tax (CGT) loss, according to Deloitte, the advisory firm.
Paula Higgleton, head of the private clients practice at Deloitte, said: “While the tax case of Mansworth v Jelley in 2002 prompted a law change in respect of options exercised on or after 10 April 2003, in some cases, the losses can still be claimed back and action may be necessary before 31 January 2009.”
The case was complex and the effect is best illustrated by an example:
Suppose Mr A, a company executive, was granted options in an... |
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| Deloitte handbook outlines key issues facing today’s CFO |
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28 November 2008 |
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Deloitte, the business advisory firm, has encapsulated the complexity and duality of many of the issues that the modern finance leader faces in a handbook: When CFOs Debate. The handbook is authored by Deloitte experts that work closely with CFOs and is designed to help them to think through today’s critical business issues and to see all sides of the argument. When CFOs Debate does not attempt to list the ‘right’ answers but presents a series of practical steps that CFOs can take to find the answers that makes sense for each CFO’s unique situation.
Some of the key issues for today’s CFO examined in When CFOs... |
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| Deloitte appointed administrators to Woolworths Plc and Entertainment UK Ltd |
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27 November 2008 |
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Interested parties should contact: + 44 (0) 20 7007 1700
Suppliers, landlords, creditors and shareholders should contact: + 44 (0) 207 706 5000
Neville Kahn, Nick Dargan and Dan Butters have been appointed Joint Administrators to Woolworths Plc, the high street retailer, and Entertainment UK Ltd (E.UK), the wholesale division of Woolworths Group Plc.
The retail arm of the company operates out of some 800 high street stores and four distribution centres, employing 25,000 staff. E.UK is the UK's leading distributor of entertainment products. Neville Kahn, |
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| High Court holds that UK double tax relief system is unlawful |
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27 November 2008 |
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Bill Dodwell, tax partner at Deloitte, comments:
“Mr Justice Henderson has decided that the UK’s double tax relief system infringes European law, where dividends have been paid to the UK from EU-based companies, in which the UK shareholder owned more than 10%. He has carefully examined the full background to the European Court of Justice’s (ECJ) decision which, on this aspect, was confusing and poorly expressed. This means that the UK is not entitled to charge tax on dividends from EU-based companies and groups which have suffered such tax liabilities may now able to seek refunds. ... |
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| Double your return in a downturn |
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26 November 2008 |
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Analysis from Deloitte, the business advisory firm, shows that companies can almost double their shareholder return by completing deals during an economic slump. The analysis of over 100 of the largest completed acquisitions over a ten year period from 1996 - 2006 highlights a two-year return of 12.1% over peer group average for those UK businesses which announce deals negotiated in a downturn. This compares with just 6.1% for those which announce deals in a more buoyant market.
Andrew Curwen, global head of transaction services at Deloitte commented: “If we look back in history, it’s clear that some very... |
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| Consumer businesses scramble for VAT advice |
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26 November 2008 |
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The 2.5% cut in VAT announced in Monday’s Pre-Budget Report has led to a huge level of calls for support from retailers and other consumer businesses. Deloitte, the business advisory firm, set up a VAT/IT Hotline at 9am this morning and has received an average of 30 calls per hour from clients seeking help. The vast majority of these calls are coming from retailers and other consumer facing businesses.
Conrad Young, Head of tax management consulting at Deloitte, said: “The main driver for the level of calls appears to be the fact that a lot of technical guidance has been released, and with such a tight... |
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| Fastest Growing EMEA High-Tech Firms Identified |
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26 November 2008 |
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Confidence remains high despite word-wide economic turbulence- Average five-year revenue growth for all companies is 1,297%
- France has the most ranked companies with 75 of the 500, closely followed by the UK with 69. The two countries switched positions from last year
- The UK has two companies in the Top 5 this year claiming first and third place
- Survey of Fast 500 CEOs reveals that 58% of this year’s CEOs were “extremely” or “very confident” of managing the same growth rates over the coming two years.
The full list of the Deloitte Technology Fast 500 EMEA is announced...
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| Graduate job market gets tougher |
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25 November 2008 |
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Students graduating from university next year will find it harder to get jobs than those applying in previous years according to Deloitte, one of the UK’s largest private sector graduate employers. Deloitte has seen a 40% increase in the number of students applying for graduate positions starting in 2009. This data shows that there are more students competing for available graduate jobs than ever before.
Commenting on the increase, Sarah Shillingford, Graduate Recruitment partner at Deloitte, said: “The current economic climate has not affected our graduate recruitment plans. At this stage, we are anticipating around 1,000... |
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