James Lizars FCCA

🚨🚨News Flash 🚨🚨 So excited to feature in Sage's new AI and accounting policy report Going for Growth with ACCA and Demos. It reveals the huge growth opportunity this technology presents for both bookkeepers and accountants and the wider UK economy. The report found: ✅ High levels of AI adoption in every UK practice could add £2bn to GDP and create an additional 19,000 jobs. ✅ AI adoption is on the rise. 26% of practices have implemented AI today, expected to increase to 52% in five years. ✅ Accountants and bookkeepers are technology optimists. 61% believe AI will create more opportunities than risks. ✅ Unless tackled, an AI skills deficit will restrict the adoption of AI. Only 16% feel well prepared to meet the AI skills demand. We look forward to staying part of the debate to ensure we can unleash the potential of AI across the accounting industry. 👉👉 Head to the Sage website to find out more Bee Motion | Cerana Official

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Big Digital Digest episode this week. John Toon and I dive into mid-tier accounting systems, comparing and constrating them as well as our normal #bedbuybin at the end. Full episode here https://lnkd.in/ezyZpSVf Lots of systems we discuss and so this is a bumper episode at 25 minutes. We cover iplicit, AccountsIQ, Exact, Twinfield, Xledger UK, Access Finance & Accounting, Odoo, Intuit QuickBooks, Acumatica and Infor. We identify when you would want to consider systems in this space, the benefits of them over their smaller and larger counterparts and which ones to seek out in specific circumstances.

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Ever wondered about those bits of paper and getting paperwork from you into software? Have you tried Apron ? This morning I am on an ICB UK (Institute of Certified Bookkeepers) webinar with Gavin Fell Lara Manton MICB talking about it. Got any questions? We'll try to answer them, and discuss the pitch to switch. Super fast processing time, easy work flows for bill payments. https://lnkd.in/e8yMVynK #bemorebookkeeper #moretimetobeawesome

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Fantastic post by Douglas Aitken. Are you an ambitious accountant who wants to build a better firm, but finds change hard? That's because change is hard, and that is why we are here to help. #ambitiousaccountants #buildabetterfirm #change #changemanagement #ambitious #accountants #accountingandfinance #tuesdaytips #humanisethenumbers

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Top 3 challenges facing firm owners: 1. How to win new clients 2. How to charge higher prices 3. How to grow their firm Good news 👇 I hit those 3 challenges head on in my talk at Accountex last month And I now have the full on demand replay to share Want access? Comment ‘RECORDING’ below and I’ll get it sent across

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Is transformation really possible for accounting and bookkeeping firm owners?   Is transformation really possible for accounting and bookkeeping firms?   What is really holding you back?   What is the internal conversation you are having in your head?   On Monday I had an amazing day speaking at ProfitCon 2024 in London with Tim Seymour and Duncan Lloyd.   It wasn't just what the other speakers like Mike Michalowicz Daniel Priestley Ashley Leeds or Luke Robinson talked about it was the people and the firm owners who were there.   What was truly amazing was the conversations at the breaks and at lunch. The insights that were shared. The experiences of the past that have an impact on the present. The mindset shifts and aha moments that happened in the room. The future impact of what people are changing and their shifts in thinking.   Accountants are awesome. Bookkeepers are awesome. Coaches and advisors are awesome. People are awesome.   What is the ONE thing that you can do or stop doing that will have a transformational impact on you, your family, your business, your team and your clients?   What is your ONE thing?   #innovation #personaldevelopment #strategy

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📲 The requirement for MTD ITSA is less than two tax years away, so now is the perfect time to start embracing technology and digitising your records. Learn how to navigate the transition below ⬇️ #MakingTaxDigital #HMRC #SoleTrader #IncomeTax

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Just like that, the year's nearly done, and a new one's on the horizon. Here's a head start on 2025 from The Gap HQ with 3 exciting advisory events for purpose-driven #accountants who want to help their clients more. 🗓️ 19 February | Advisory Activator A 3-part online course to help you develop a plan to launch advisory and fast-track a recurring revenue stream. 🗓️ 9 April | Advisory in Action Masterclass | Leeds A one-day practical in-person masterclass, in Leeds, for accountants wanting to start their advisory journey or for team members of firms who want to scale up their advisory offering. 🗓️ 30 April | Selling to Help Masterclass | London A one-day in-person London masterclass to help you help your clients more. In challenging economic times, it’s important to clearly articulate the value of the help you provide AND get paid for it. Learn how to dial up your empathy, help your clients more, and package your services in a way that makes it easy for your clients to buy (and for you and your team to deliver). Limited places are available, so secure your place early. Find out more 👇 https://lnkd.in/eh3iT6mG

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Now that quarter end for a few clients is over (at least the accounts part is, the reporting to trustees part is coming up) I was reflecting on a few of the things we picked up this time around. There was an underpayment a client had made to HMRC, the sooner we picked it up the less the interest charge was. There was some accrued income that hadn't been invoiced, without our prompting it wouldn't have been invoiced and that would be income lost. There were duplicate expense claims submitted that we tidied up. There was income that should have been accrued according to a grant agreement but wasn't. There was expenditure allocated to the wrong funder which we moved around to make the best use of the available funds. Thinking about recent debates about how much charities spend on overheads and the pressure to keep overheads low, yes, finance is an overhead cost. But without a strong finance team you'll pay the wrong amount to HMRC and end up paying interest, you'll forget to invoice and miss out on real cash income, you'll have multiple little errors in your numbers and you'll use the funding you've been given incorrectly because you don't have good records. Off to polish my halo now 😇

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Before the close of each accounting period (or financial year) for every owner-managed business, the directors/shareholders must review the below: 1️⃣ Does the business still qualify as a trade for CGT and IHT purposes? 2️⃣ Have there been any changes in the nature of the business activities? 3️⃣ Are there any future planning issues to consider? 4️⃣ Have cash balances built up to an excessive level, compared to the needs of the company? When it comes to accounting and tax matters, it is necessary to be PROACTIVE, and not REACTIVE. As a young, dynamic team of Chartered Tax Advisors, we ensure proactivity when it comes to tax planning. We can help on the above. Why do the above 4 points matter? The 'status' of the company potentially affects valuable tax reliefs, namely: • Business Asset Disposal Relief for capital gains tax • Business Property Relief for inheritance tax • Substantial Shareholding Exemption for corporation tax Trading status may also impact on the type of expenses that are allowed under the 'wholly and exclusively' rule, as well as what is reasonable in terms of remuneration levels. Elsewhere, a change in trading status may result in unrelieved losses. There is lots we can do to help owner-managed businesses reduce their tax burden significantly, eliminate risk and avoid unnecessary pitfalls. Ultimately, we assess your objectives and goals (both for the company and as shareholders) and help you achieve them tax-efficiently. 😎 ASWATAX #taxadvisory #taxplanning PS written by me. No AI. 😝

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Heading to Accountex ? Whether you're a seasoned attendee or a first-timer, this event is the largest of its kind in the UK for accountants and finance professionals. Here are a few handy hints to make the most out of your experience: Plan Your Sessions: The lineup can be overwhelming, with back-to-back seminars and keynotes. Before you go, highlight the sessions that are must-sees for you. And remember, sometimes the best insights come from the unexpected talks, so leave room for a few wild cards. Network Like a Pro: Accountex isn't just about soaking up knowledge; it's a goldmine for networking. Don't be shy—introduce yourself, swap cards, and connect on LinkedIn. You never know, the person you're chatting with over coffee might just be your next big client or collaborator. I'd suggest knowing how to get to your LinkedIn QR code. Explore the Exhibits: With a myriad of vendors showcasing the latest in accounting tech and services, make sure to allocate time to wander the exhibit hall. It's not just about the free pens or socks; it's an opportunity to demo new tools that could change the way you work. Follow Up: Once the buzz of Accountex is over, don't let those new connections and insights fade away. Follow up with the people you've met, explore the software you were impressed by, and start applying what you've learned. This is the bit I need to work on. Accountex is more than an event; it's a stepping stone for growth, learning, and connections. Go in with a plan, but also allow yourself the flexibility to enjoy the event. https://lnkd.in/e8bQfdgQ #Accountex #AccountingTips #Networking #CPD #ProfessionalDevelopment

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**5 Ways a Great Accountant Can Help Your UK Business Thrive** Running a successful business is exciting, but managing finances can be complex. That’s where a great accountant , someone who sorts out the numbers, comes in. Here are five key ways they can support your business: 1. **Tax Compliance and Planning** Navigating the UK tax landscape can be tricky. A great accountant not only ensures your business remains compliant with tax laws but also helps with tax planning strategies. By identifying deductions and opportunities, they minimise your tax liabilities and maximise savings. 2. **Cash Flow Management** Cash flow is the lifeblood of any business. An accountant can help manage your inflows and outflows, ensuring you have the liquidity needed to meet obligations and invest in future growth. 3. **Profit Maximisation** Are you making the most of your business’s potential? A skilled accountant can analyse your financials, pinpoint areas of inefficiency, and provide insights to boost profitability, ensuring you get the best return on your efforts. 4. **Cost Control & Efficiency** Business expenses can quickly spiral. Accountants help identify unnecessary costs, streamline operations, and improve efficiency, making sure you keep your finances healthy while running a lean business. 5. **Strategic Financial Planning** Planning for the future is crucial. From budgeting and forecasting to supporting long-term growth strategies, an accountant provides the financial insights needed to make informed decisions that set your business up for lasting success. Partnering with the right accountant allows you to focus on growing your business while they take care of the numbers, helping you thrive today and plan for tomorrow. #Accountancy #TaxPlanning #BusinessGrowth #CashFlowManagement #ProfitMaximisation #FinancialPlanning #BusinessStrategy #SmallBusinessSupport #Entrepreneurship #UKBusiness #Efficiency

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❗ It's not too late❗ If you're confused about the current rules on R&D tax credits following the plethora of changes in recent years, come along to Tax Club at 10am for a concise summary of what tax reliefs are now available. https://lnkd.in/d_hHQDjg

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This Thursday is the first in our series of webinars on planning a business exit. So, who in my network should attend this ❓ 1) Any of my connections who are running their own small business. Whilst I know from my own experience that it is not always easy to think about the eventual sale of your business when you are knee-deep in the here and now, I also know that if you can find that time it can be invaluable in really helping propel your business forward. 2) Anyone advising small business owners and interested in giving them strategic forward-thinking advice. Sign up in comments #etctax #smallbusinessowner

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Today's market for interim ACA accountants in the UK is looking better. Looking at the current landscape, there's good news for interim ACA accountants. The demand for temporary financial expertise has seen a rise, driven by businesses needing flexibility, especially during periods of economic uncertainty. Interim roles offer a practical solution for companies looking to adapt quickly without long-term commitments. What's noteworthy is the range of opportunities. Whether it's managing year-end accounts or overseeing financial restructuring, interim ACA accountants are playing important roles across sectors. There's a significant need for these skills, particularly in helping companies stay compliant and financially sound. Plus, many businesses appreciate the fresh perspectives interim professionals bring. If you're an ACA looking for interim opportunities, the market has potential right now. Companies are keen to leverage your skills and experience. Why not explore new challenges and make a real impact where it's needed most? #findyourforte #accounting #careeropportunities

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If cakes 🍰 , pastries 🥐, red meat 🥩, poultry 🐓 and fish 🎣 were subject to #VAT in the UK the Treasury could raise an extra £4bn in tax every year. This is my quick and dirty estimate based on last year’s combined sales of all those items (approximately £20bn) £4bn that could be spent to reform Child Benefit by introducing a much fairer and higher household income threshold (which would cost £1.4bn) and remove the 2 child benefit cap (which has an estimated cost of £2.5bn) Considering that the UK has probably the biggest and most controversial ‘pool’ of zero rated items in the world, particularly with regards to food, and that charging VAT on cakes and meat would leave more essential items such as bread 🍞 and milk 🥛 unaffected I believe it is something worth exploring Oh, and it would make the never ending Jaffa Cake debate totally irrelevant 😃 Thoughts?

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📣 HUGE NEWS! 📣 A massive welcome to Gary Turner who has joined the board of directors at Mazuma Accountants . He needs no introduction, of course! 😃 We are NOT mucking about over here. 💥 We’ve got a business to build ourselves, and 6 million small businesses in the UK to provide with a good nights sleep, the time to go to school plays and summer holidays free from stressing about tax bills. It’s a serious business, but damn are we having fun doing it! 🤩 You can read the full story here 👇 https://lnkd.in/ePxzSEhS #business #technology #growth

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