Christopher Fuller

While it’s less than many in the industry feared, the increased tax on carried interest certainly indicates a shift in how the government views this sector. As we navigate these changes, I'm curious to see how they will affect our approach to private equity and the broader market. I encourage you to check out our latest blog where we delve into the implications of this tax change and discuss potential opportunities for firms moving forward. 👉 Read the full article:

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It's that time of year again: the Accountancy Practice movers & shakers have been announced! As always, the data provides a fascinating insight into the growth and consolidation of Accounting firms across the UK. There is also excellent additional information from Accountancy Age in relation to the development of the sector as more and more firms look for private equity investment and move away from the traditional Partnership model.

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The volume of CFO vacancies on-market or off-market is gradually increasing. Executive churn is on the rise. CFOs are moving - why? - In some cases, equity may be under water. - They may being replaced (CFOs often are those who suffer if a PE asset isn't performing) - Growth / Optimism: deal flow has seen a slight up tick, resulting in new positions being created. - Restructuring: CFOs with restructuring skills are in demand within struggling assets. I was speaking to an experienced CFO today about the PE market. They said it's a tricky dynamic. When selecting a role, you're putting all your eggs in one basket, hoping the business you choose reaches the exit they desire. Whilst an experienced CFO with multiple exits under their belt can afford to take a risk or for one cycle to not reach the successful conclusion throughout a challenging market, it's so important to make the right choice if you're looking at your first CFO role... As a CFO, it's important to really build your personal scorecard and that first CFO position carries a lot of weight when you look at your next role. Do... - Get to know the team really well. This is so critical. Are they good people? - Dive deep into the realism of the investment thesis. - Move laterally on comp. This first CFO role shouldn't be about cash. - Explore opportunities in a less glamorous / less preferential industry to prove yourself in the CFO seat. Don't... - Take a hugely risky role just to become a CFO. Patience is key! - Work with leaders you don't rate just because of the CFO title. - Believe figures without seeing the numbers yourselves. - Take a role because it is the best paying position you can find. Any thoughts? Camino Search

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Another role registered with Aila Recruitment | Certified B Corporation® this week. 🚀 This time it’s a £90,000 Finance Manager role in a FTSE Software Firm in Central London. ⭐️ Are you a technically strong ACA/ACCA Accountant? ⭐️ Have you worked in a Reporting/ Controls role? ⭐️ Is that in a SaaS or Financial Services? 👇🏻 Hear more about it in this short video below 👇🏻📹 #recruitment #financerecruitment

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Having local standard setters using their network of local contacts to inform our own work is an important part of the input we are receiving. If you have strong views on how to improve the cash flow statement, consider participating in the #UKEB project on #CashFlo to update #IAS7.

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A "must read" document to start your journey to the new UK accounting standards. Whilst we await the new SORP exposure draft this is the most useful guide I have come across so far!

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Compliance isn't just about ticking boxes. It's a cornerstone of value within recruitment. Running a compliant operation ensures trust, mitigates risk and safeguards your business's reputation. Whether it's tax obligations, IR35 compliance, or candidate referencing. Adherence to regulation is non-negotiable. Acquirers seek businesses with robust compliance framework as they signal reliability and long-term sustainability. Are you prioritising compliance in your recruitment business? It's not just about meeting standards, it's about maximising value and securing your future. Remember… a £ of profit isn’t necessarily a £ of value. And making a quick buck without compliance won’t create value within your business. If you want to read more about how you can add value to your recruitment agency, drop me a message or head over to the website to read the full article I have written on this topic. The link to this has been placed in the comments below. #Compliance #Recruitment #Business #Value

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The biggest challenges Accountants are facing today The economic climate in 2024 is presenting unique challenges for accountants. 📉 With inflation rates hitting a 30-year high, many businesses are struggling to maintain profitability. Accountants are at the forefront, tasked with finding ways to manage costs and optimise financial performance. One of the biggest hurdles is the rapid pace of technological change. While automation and AI tools can streamline processes, they also require significant investment and training. Accountants must balance the immediate costs with the long-term benefits, all while ensuring data security and compliance with ever-evolving regulations. Another pressing issue is talent retention. The demand for skilled accountants has never been higher, but so has the competition for top talent. Firms need to offer more than just competitive salaries; they must provide career development opportunities and a supportive work environment to keep their teams motivated and engaged. What challenges are you facing in your role? Share your thoughts in the comments or visit cameronkennedy.com to see how we can help. #Accounting #Finance #EconomicClimate

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For hiring managers in the UK/US tax industry, what do you think could be done to make the industry more attractive to graduates considering the industry? Drop me a DM or comment below - at some point, I'm keen to get a poll going and analyse the results as I think it could be quite interesting. (Alternatively, if you've recently joined the sector, what would YOU like to see different) Thanks for those I've chatted with about this so far 😀

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By involving your accountant early in the decision-making process, you can: · Optimise Tax Planning · Navigate Regulatory Changes · Support Business Growth · Manage Cash flow Efficiently · Avoid Costly Mistakes In short, proactive advice from an accountant not only helps you stay on top of your finances but also allows you to make better business decisions, maximise savings, and avoid unnecessary stress. The earlier you involve your accountant, the more time they have to guide you effectively. Need help with your accountancy? Get in touch today!

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The Financial Reporting Council has asked audit bosses to tell the accounting regulator of any plans to sell stakes of their business to private equity. In a letter addressed to audit firms and Recognised Supervisory Bodies (RSBs), FRC Chief Executive, Richard Moriarty, said the regulator is not “in principle against a greater participation of external private capital in the UK audit market” but that its role is to “protect the public interest and support growth”. Read more if you missed it here: https://bit.ly/3N91k1n #ReedAccountancy #Audit #FRC #PrivateEquity #PrivateCapital

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CV Tips for Senior Finance Professionals Lynsey Campbell, Head of People Solutions – Dundee, believes that the CV is still a key document when it comes to the recruitment process. Find out more in our latest article with ICAS - The Professional Body of CAs: https://lnkd.in/e8vpwqvH #TransformingFinance #FinanceJobs

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If you can't pay your tax bill then you need to manage the situation, be proactive and contact your accountant or HMRC as soon as possible. You may be able to negotiate a payment arrangement with HMRC to pay what you owe by installments, not tackling the situation will only make matters worse. Find out what options are available to help you deal with any tax debt. Read more - https://lnkd.in/dEpP6qET #SelfAssessment #taxreturn #taxadvice

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The FT reports that the new government is changing tax rules around non-doms and private equity leaders. Private client tax professionals will likely see more demand for their services going forward which will bolster professional services in the short term. But, in the long term, will the UK be affected by private capital potentially seeking more favourable tax regimes elsewhere in the world? https://lnkd.in/e-JmC8PQ

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🔍 Big Changes for UK Accountancy Firms! 🌍💼 Private equity (PE) investment in UK accountancy firms is shaking up the industry, creating both challenges and opportunities, especially for independent practices. 🚀 PE-backed firms are scaling quickly with more resources. They offer competitive pricing, wider services, and advanced tech solutions. This puts pressure on independent firms to modernise their approach and adopt the latest technologies to keep up. 💎 Talent is another battleground. PE-backed firms can afford higher salaries and career growth opportunities, attracting top talent from smaller independent practices. This talent move can weaken independents, affecting their ability to maintain and grow their client base. 🟩 Increased Competitive Pressure 🟩 Talent Drain 🟩 Client Relationship Impact 🟩 Niche Positioning Potential 🟩 Access to Tech and Collaboration 🟩 Acquisition Opportunities 🤝 Independent firms still boast personalised client relationships, a crucial advantage. However, PE-backed firms are also adopting client-centric technologies. Independents must innovate to keep this personalised edge. The rise of PE also offers opportunities. Independents can focus on niche markets, using their agility and client focus to offer alternatives to larger, more corporate PE-backed firms. 💡 The increased use of technology in PE-backed firms can push independents to adopt similar tools, streamlining their operations. Collaboration between independents may also rise as they come together to compete with larger rivals. For some, becoming acquisition targets for PE firms offers a lucrative exit strategy. 🎯 To succeed, independent firms need to balance adopting new practices and preserving their strengths. Leveraging local knowledge, personal touches, and established client trust, while staying up-to-date with industry changes, is essential. 🏆 The rise of PE in the accountancy sector challenges independent firms to adapt. Yet, those who evolve can find unique market positions and success. #PrivateEquity #AccountancyInnovation #FutureOfFinance

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Finance and accounting professionals are more likely to leave their roles due to a lack of learning opportunities than the average UK worker. As we move towards 2025, such insights are invaluable for financial institutions aiming to attract the very best talent.    Tiger Finance’s latest Salary and Benefits Review reveals what finance professionals truly value, including trends in compensation, flexible working, and benefits beyond the paycheck.    Link to the full report is in the comments below. 

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