Ian Williams

Our PwC UK mid-year M&A trends suggest pent-up demand in the market is ready to be unleashed. Despite a slight decline in volumes, deal values have surged by 66% to £68bn, reflecting renewed investor confidence. The race to execute strategic deals is on. Read our mid-year update to find out more https://pwc.to/4fke9Dg  #ValueCreation #PwCDeals

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Hot off the press...more detailed information from Grant Thornton UK LLP on the upcoming changes to FRS102 and what you need to be thinking about in advance, with our very own Jennifer Ilsley bringing to life some of the key considerations in this short video #FAAS #FRS102 #financialreporting #accountingstandards

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🚀 Unveiling the Titans of Growth 🚀 In the dynamic landscape of private equity-backed companies, witnessing a staggering average CAGR of over 100% from 2020 to 2022 is nothing short of phenomenal. The latest report from Real Deals, in collaboration with us at BDO, delves into this extraordinary growth story. We've dissected the UK into 10 distinct regions, spotlighting the highest-growth businesses in each. But it's not just about the numbers it's the stories behind them. The report is peppered with insightful interviews from the very portfolio companies and private equity backers who are at the forefront of this explosive growth. They share their secrets on how to supercharge a company's trajectory. Whether you're an investor, a business leader, or just someone fascinated by the alchemy of growth, this report is a treasure trove of insights. Stay tuned as we explore the sectors and regions setting the pace, and learn from those who are redefining the benchmarks of success. #PrivateEquity #GrowthStory #BDOInsights #CAGR #BusinessGrowth #RegionalAnalysis #InvestmentInsights #UKBusiness #Innovation #SuccessStories https://bit.ly/3VpPeq5

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Is there a UK M&A Deals bounceback? Our analysis is featured in City AM highlighting deal volume and value for the first six months of 2024. The data shows total deal value for H1 2024 increased by 66% compared to the same period last year, despite total volume falling by a fifth reflecting a higher number of larger deals being announced. Read more here

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AUTUMN BUDGET ’24: CGT & BADR CHANGES 💼 From yesterday, the lower rate of Capital Gains Tax (CGT) will increase from 10% to 18%. The higher rate of CGT will increase from 20% to 24%. The rates for sale of residential property remain unaltered. The ‘carried interest’ CGT rate is increasing to 32% from April 2025, with further reform from April 2026 to tax it under income tax. ‘Carried interest’ is a share of the profits generated by an investment fund, paid out to the fund’s investment managers. Business Asset Disposal Relief (BADR) stays at 10% for 2024/25, then 14% from 2025/26, then 18% from 2026/27. The 14% difference between sales qualifying for BADR and the new main rate of CGT should be an incentive to move sales forwards to before April 2025. Stay tuned for our full Budget breakdown, releasing soon. https://lnkd.in/ePZrjsW7 #AutumnBudget2024 #BudgetUpdates

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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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Over the last few weeks, much has been written about the re: BHS Group Ltd judgment which brought in further clarifications of directors' duties in the zone of insolvency. The team - Tim T., Amy Wallace and Scott Bebbington - led by Mark Shaw, acted as the Expert Witness in this complex and high-profile case. The oral and written evidence was cited by the judge in support, handing down judgment in favour of the Liquidators i.e. that the directors knew or ought to have concluded that the Group had no reasonable prospect of avoiding insolvency and failed to take reasonable steps to minimise losses to creditors. The case affirms the importance of directors actively considering whether particular transactions are likely to promote the success of companies to which they are appointed. This includes the need to consider the interests of creditors when financial distress is evident. This is a very useful summary: https://lnkd.in/eJdTmTqb

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There are specials rules that apply to UK property sales by non-residents. Since 6 April 2020 non-residents have needed to report and pay any non-resident Capital Gains Tax (CGT) due if they have sold or disposed of: #NonResidents #NonResidentUKPropertySales

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The data is in, and we are pleased to provide our UK M&A update covering the Food & Beverage sector in Q3 2024: 🍽️ Deal Volumes Surge: Q3 saw a significant uptick in deal volume compared to both the previous quarter and Q3 2023 🛍️ Consumer confidence continues to increase, returning to pre-pandemic levels for the first time 📈 Cost pressures impacting companies continue to ease, with inflation now below the BoE target of 2% 💡 Positive momentum continues in the debt markets as rates start coming down Follow the link below for our report: https://lnkd.in/eFiVpcQe

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KPMG Corporate Finance has advised Northedge and Clearly Drinks on the sale of the business to Supreme Plc. The transaction provides an exit for Northedge and a strong additional pillar for Supreme, broadening their product range. Congratulations to Northedge, Clearly Drinks and Supreme Plc, as well as the KPMG team who advised on this transaction : Robert Baxter, Michael Downes, Steven Maher, Christopher Nolte and Peyman Atapour. https://lnkd.in/dv6m_xX8 #KPMGdeals #KPMGcorporatefinance #consumerdeals #privateequity #Beverages 

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It was great to host so many within the Private Equity and Private Capital industry at our Briefing Call this afternoon where we discussed the process of the Government’s Call for Evidence on the UK tax treatment of carried interest, closing on 30th August 2024. The full HMT document can be found here: https://lnkd.in/eVTvxW8G The key points we covered were: 1. What is a “Call for Evidence”, what does the procedure entail and what is the publication process? 2. What does timing look like and what are the next steps for Government? 3. What might industry stakeholders consider in preparing their own response or providing input for industry body responses? If you would like more information or would like to discuss your approach to responding to HMT’s Call for Evidence, the EY Tax Policy and EY Alternative Funds Tax teams can help guide you through. Christopher Sanger Caspar Noble Darrin Henderson Dan Thompson Richard Thomson Gareth L. Indi Taggar Arinze Nwobodo Martin Portnoy Alex Christoforou James Taylor Noam Handler #PrivateEquity #PrivateCapital #BetterWorkingWorld

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Private Equity fund managers currently operating as an LLP in the UK are now being investigated and risk backdated tax following changes by HMRC to their guidance. Angus Wilson and Lewin Higgins-Green explore this shift, alongside the need for fund managers to review their current structure and determine the impact to members through HMRC’s new lens and ahead of a potentially new government. https://lnkd.in/ej6qcHZf #privateequity

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There are specials rules that apply to UK property sales by non-residents. Since 6 April 2020 non-residents have needed to report and pay any non-resident Capital Gains Tax (CGT) due if they have sold or disposed of: #NonResidents #NonResidentUKPropertySales

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The proximity to a UK Budget often leads to a spike in M&A activity, with Autumn 2024 seeing exactly this - driven by widespread fear of what lies in store for business owners (a natural reaction to comments from the Chancellor). The Azets deal teams are seeing this - with a number of deals being driven aggressively toward completion pre October 30. I preach caution however to those looking to close before the big day itself. Deals and the related due diligence and general project management through to completion take time. And those looking to accelerate through can often stumble during the process and sacrifice value. Equally, unfortunately, and naturally there is also the likelihood of buyers sensing panic and using the circumstances to their own advantage. If you’re in this position I’d encourage you to keep your eyes and ears open and stick to your guns - do things right, do things fair. The best deals are always “win win” and if you run too hard you risk facing issue. And equally, running without advice could be like sprinting in the dark. Speak to those who know what it takes to close and close well. Good advisors will pay their own way I promise! #deals #corporatefinance #mergersandacquisitions

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The Chancellor is considering significant changes to Capital Gains Tax (CGT) and Business Asset Disposal Relief (BADR) in the upcoming Autumn Budget on October 30th, 2024. These proposed changes could see CGT rates rising as high as 45%, aligning with income tax rates—this poses a serious threat to the entrepreneurial spirit that fuels the UK economy. BADR was created to recognise the personal and financial risks entrepreneurs take when building businesses. Restricting this relief and increasing CGT rates would discourage new ventures, stifle innovation, and hinder the ability of startups to scale by offering stock options or equity. We must act now to protect the future of UK entrepreneurship. ✊ We’ve successfully rallied support before, and now we need your voice again. Add your name to our initiative and stand with fellow business leaders to ensure our message is heard loud and clear. Sign here: https://lnkd.in/eQzNpBcW Together, we can safeguard the future of extraordinary entrepreneurship in the UK. 💼 #SaveBADR #ProtectEntrepreneurs #E2Exchange #UKBusiness #SaveCGT #CGT #BADR #AutumBudget2024 #Budget2024

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Following a stable first half of the year, UK manufacturers performance in the third quarter reveals a mixed picture for the sector. Download our report with Make UK for the latest findings: https://lnkd.in/eYmQVZ-A #UKmanufacturing #UKmfg #manufacturingoutlook #supplychains

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See below our July Newswire with all the Business News you need to know and Key Dates for your Diary #privateequityinvestment #taxliabilities #budgetforecasts #invoicefraud #incometax #NI #businessopportunities #businessstragegy #mbo #exitstrategy #businessnews #keydates

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