Gareth Norris

Bean Counter to Boss - the Limited series provided by the ACCA features James Goulsbra ACCA and myself, where we talk the good, the bad and damn right fabulous decision we made to start our own practices, with the support of ACCA. Find the series now on Apple, Spotify and Podomatic 📣 #beancountertoboss #startingyourpractice #startingapractice

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The preparation of the annual Budget Forecast is always a highlight for any academy trust CFO! There are a few tweaks this year, we have summarised these along with a link to some useful ESFA guidance on the responsibilities and requirements around pension schemes (another hot topic in the last year or so). If you have any questions or need guidance, please speak to your usual Azets contact. #academies #budgetforecastreturn #bfr #LGPS

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Question for the R&D tax relief community. Last week at Accountex, I was explaining how our tax calculator can help with the various R&D tax relief rates and the merger scheme when someone said, "I think the government's long-term goal is to get rid of the R&D scheme." I paused... Naturally, I asked what made them feel that way, pointing out that it couldn't just disappear overnight? They replied, "they will gradually reduce it until it goes to zero." What do you think? Surely the UK government won't remove the incentive that so many other countries offer, especially in the EU? #researchanddevelopmenttaxrelief #randd #innovation #randdtaxrelief

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Away for a week following the election results and lots to catch up on ........ starting with how we expect Labour to implement their first steps for change, in order to meet their pledge to get “Britain’s future back”. Lots to consider for individuals, families and business owners. Find out how the proposed changes could affect you ➡ https://lnkd.in/eQR6mBYF #financialplanning #taxplanning #wealthmanagement #businessowner #tax

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As HMRC continues with Making Tax Digital, this 2025 change (it it comes to pass) would appear to be another stepping stone towards real time reporting by individuals of information about income derived from trading sources....

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What does a Labour government mean for business owners looking to sell their business? ➡️Will there be potential capital gains tax changes? 🔸️Labour have not ruled out changing capital gains tax (CGT). This could include: 🔸️An increase in CGT rates to reduce the difference between current income tax and CGT rates. 🔸️Changes to business asset disposal relief (BADR) (reduced 10% tax rate) on £1m of lifetime eligible disposals of shares and business assets. ➡️When will the changes take place? 🔸️The first Labour Budget is not expected until late September / October. 🔸️Any tax changes could take place from Budget day or April 2025. ➡️Clearly any tax changes proposed would need to be balanced against ensuring the UK economy continues to grow, of which incentiving business owners / investment and encouraging innovation plays a significant role. ➡️Whilst there is no certainty as to what may happen, for those already looking to sell, expediting plans could potentially lead to a disposal under 'current' rules before any CGT changes take place. See how Crowe UK can advise you and guide you through the process of selling or purchasing a business.

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Important questions GP partners need to be considering, where they and their fellow partners are using limited companies. For more help, please get in touch with Rowleys medical accounting team. Claire Farr Emma Smith #primarycarefinance #taxplanning #associatedcompanies

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Some handy tips for explaining #autumnbudget2024 to your children. *TDS = Tax Deducted at Source Crowe UK Crowe Global

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Sign up to our newsletter today: https://lnkd.in/eHXibqyQ Check out the November edition of the monthly newswire from Morrissey Chartered Accountants. This month we cover a range of issues such as: Chancellor promises to drive growth and raises £40 billion in taxes Autumn Budget - the business reaction National Living Wage rises by 6.7% New tipping law comes into force Make Work Pay threatens employment and growth warns FSB New Growth and Skills Levy must end 'cycle of failure' 10,000 boost State Pension with online payments Latest guidance for employers Contact us today if you require further information on any of the topics included in our newswire or if you require expert business advice on all areas of taxation and accountancy. https://lnkd.in/epGTpnCD #CharteredAccountancy #FinancialPlanning #Taxation #BusinessAdvisory

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A positive outcome for Tasty plc and another great result for the FRP Advisory team demonstrating that a restructuring plan remains a viable option for mid-market businesses to restructure their finances and operations to avoid an insolvency process. If you’d like to understand more about restructuring plans please contact me, Phil Reynolds or your local FRP Advisory office. #frpadvisory #restructuring #businessrescue

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So, the NIC hike for employers is the big change in #budget24. An additional £615 per person plus the 1.2% rise is significant for most businesses. Couple this with the 6.7% rise in minimum wage and it’s ’read through’ into higher salary levels, means that it will be much more expensive to hire people in future. And the new employment rights bill too…….Will this, then, be the spur for businesses to invest in AI and robotics over humans?. And will it drive virtual working offshore?

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#AutumnBudget2024 Yesterday's Budget gave some much needed certainty and as widely expected, significant changes have been announced to almost all of the headline taxes, including:   🔔 Alignment of CGT residential and non-residential rates up to 18% and 24%, and scaling back Business Asset relief   🔔 Expansion of IHT to capture pension pots, and restricting relief for agricultural and business assets including AIM shares   🔔 Reform to non-dom regime to be replaced with a residence-based regime, with some generosity in transitional provisions and the IHT 'tail' but protection for offshore trusts to be removed   🔔 Employer NIC rate increasing to 15% and the threshold at which employers start to pay NIC to be halved   Interestingly a raft of measures, the "most ambitious ever" according to the government's policy paper, have also been announced to target the tax gap. Significant investment into HMRC's resources against non-compliance and tax fraud, and consultations on reforming HMRC's corrective powers and processes have all been pledged. Follow Crowe UK as we continue to digest the announcements and what they will mean for you and your clients

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Back in 2021 we started to see a rise in the number of family-owned and privately owned businesses wanting to explore Employee Owned Trusts (EOTs) as a method for exiting a business or as a way to implement a longer term succession plan. In 2023 the number rose by 37%. Whilst there are undoubtedly tax benefits to using an EOT, for many businesses it also presents a way to shape the long term future of a business; ensuring they can align the ownership and management with the values and vision, that they can incentivise a loyal workforce, maintain high levels of engagement and continue to invest and innovate. Find out more about the main features, benefits and challenges of EOTs here ➡️ https://lnkd.in/eZgSph9A #successionplanning #exitplanning #financialplanning #businessowner #familybusiness

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It’s Business Finance Week 2024 (24 September to 2 October)! Hosted by the British Business Bank along with their various partners the week includes various webinars and courses to help businesses learn about the various finance options that are available to help them. For details of the courses available ⬇️ https://lnkd.in/e3x7fkGr #businesssupport #businessfinance #workingcapital #funding #yourbusinessmatters #businessroom

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