A new study has found that
finance directors in the UK are suffering from a lack of confidence in the UK economy.
The survey of nearly 200
finance director members of the Institute of Chartered Accountants of Scotland (ICAS) found that over 20 per cent believed the UK is currently in a recession.
Accountancy Magazine reports that 42.5 per cent of respondents believed that a recession is "very likely" this year.
Only six per cent said they believed a recession was "not likely".
The study, carried out by the ICAS magazine CA, found that
finance directors working at London Stock Exchange listed companies were the most pessimistic.
Some 50 per cent of these expected the current credit crunch to continue on past 2010.
Accountancy firm UHY Hacker Young told the Telegraph earlier this week that HM Revenue & Customs (HMRC) could alienate the high street accountant.
Under its tax payment scheme, HMRC claimed that people would be exempt from fines if they had taken "reasonable care" and sought advice from a "tax professional", which excludes a number of working accountants.
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