Keep up with the latest business and accountancy news in our weekly round-up…

British public debt tops two trillion pounds for first time

Britain’s public debt went above £2 trillion for the first time in July as the government ramped up public spending to copy with the coronavirus pandemic and tax revenues fell, official data showed on Friday.

Furlough still covering 12% of UK workforce as scheme is phased out

One in eight members of the UK workforce, equating to more than three million people were under furlough as the government’s wage subsidy scheme began to be phased out, the latest official data shows.

KPMG to make £16 million in fees from administering collapsed shopping centres giant Intu

KPMG said its fees for the work would be £16 million as it disentangles the business ,which has had different owners of the various parts. KPMG said they expected unsecured creditors would get a dividend but could not give any indication of how much.

PwC UK delays annual results to take in cost of Covid-19

PwC UK will delay publishing its annual results until next year as it assesses the impact of the pandemic on pay and bonuses for its staff and partners.

Lookers warns of first-half loss and expands accounting probe

Under-fire car dealership Lookers said today it has widened its scope of its audit into a £19m black hole in its 2019 financial results as it warned it would fall into a loss in the first half of 2020.