We are closely monitoring the COVID-19 (Coronavirus) outbreak, and will keep our clients and staff informed as we respond to the latest developments.Read More
Coronavirus: What are the obligations of an employer?
Lockton is closely monitoring the coronavirus outbreak on behalf of our Associates and clients. The situation is fast-developing, and local health agencies should be consulted for the latest news and directives. Our team have compiled information about key considerations for employers related to the outbreak which can be accessed by downloading the document to the right hand side.Read More
Hard Market Part Two - Professional Indemnity Insurance factors to consider in the hard market
In our last article, we reviewed the shift in the Professional Indemnity Insurance (PII) market, looking at why premiums are rising and why some accountants are finding it more difficult to obtain PII for their practices. This month we look at navigating the hardening market and how you can present your firm in the best light to secure cover at an affordable price.Read More
Hard Market Part One - Factors behind the Professional Indemnity Insurance (PII) shift
For many years, premium rates for small accountancy firms have remained stable.The static market has been favourable for policyholders, with costs staying low and plenty of competition making arranging competitive cover relatively straightforward. Growth has continued, despite a lack of overall profitability for PII insurers.Read More
The fight against fraud - How to prevent, spot and survive fraud
Fraud-related claims are on the rise. Whether this is due to employees acting fraudulently, an accountant or auditor failing to identify fraudulent transactions, or as a result of social engineering, it is clear that fraudulent behaviour can have a significant impact on a firm’s reputation, its bottom line and its ability to find professional indemnity insurance.Read More
Probate work: how accountants can diversify and remain covered
It is increasingly common now to see accountants expand their activities and services. Probate work is a logical progression for many firms and is often viewed as highly complementary to the usual offerings of estate management, wealth management and tax planning.Read More
Tax Mitigation Schemes and other risks - What’s next for Tax Advisers?
It is no secret that HMRC have, over the past years, focused heavily on tax mitigation schemes in their drive to reduce tax avoidance. This has, in turn, had a significant impact on the professional advisers, who, often inadvertently, have been caught up in these schemes.Read More
A Guide to Processing Subject Access Requests (SARs)
Since the introduction of the GDPR in May last year individuals have become much more aware of their rights of access to their personal data. It is therefore extremely important that you have a clear action plan in place to process SARs within the short statutory timescale and so avoid fines or censure. In this article we address the SAR requirement the practical impact of them and provide some top tips for dealing with these.Read More
The life cycle of a claim
If a client brings a claim against you for professional negligence, it can seem daunting and stressful to resolve. Your insurance broker is there to guide you through the process, help alleviate the angst surrounding a claim and support you to achieve the best possible outcome.Read More
Upcoming FCA accountability rules: why SMES should start preparing now.
Whilst the Senior Manager and Certification Regime (SMCR) has applied to larger firms since March 2016, from December 2019, approximately another 47,000 firms – including many asset managers, wealth managers, stock brokers and financial advisors – will be subjected to the regulator's accountability rules.Read More
GDPR update: what we've seen so far
Despite recent data breaches, possible fines and compensation claims, companies should not just focus on compliance.Read More
Helpful tips to keep data safe
Both technology and the work environment have evolved enormously over the past few years. Whilst working remotely and on multiple devices means we are more efficient and effective than ever, it brings with it certain risks that weren't there before.Read More