Simone Pennie

In the latest View from Practice in our Accounting & Business e-magazine, Andrew Lane of CSL Partnership Limited talks about the changes he has seen over his 40 years in practice - and how he's looking forward to another 10 years of it. https://lnkd.in/eAnfiUkX

6

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

9

We have just published the Autumn 2024 issue of Payroll on Point, a newsletter developed by our Payroll Services team, designed to help pay and reward professionals stay up to date with the latest news, developments and key dates from the world of UK payroll. We have covered a lot in this issue, including upcoming changes to pay- and employer-related changes announced in the Autumn budget; our advice on breaking through barriers to growth for scaling businesses; five areas of people and payroll risk; and much more. Download the issue at: https://lnkd.in/da47KTt #Payroll #HR #Emploment #BDO

46

3 Comments

Who do you call when you have a quick finance question? Part of the role I fill for many agencies, is to provide ad hoc help when they need financial assistance. Some of the tasks I have completed over the past couple of weeks: • Pulling relevant information from the budget • Modelling the April 2025 Employers NI changes • Reviewing a set of year end accounts • Liaising with my client's accountants on their behalf • Sense checking spreadsheet calculations • Confirming new expenses wouldn't be unreasonable Sometimes you just need someone to run things by. Someone who knows your business. Someone available & responsive. Fractional finance support - bringing the expertise you need, when you need it.

2

This webinar is perfect for those wanting to stay updated on compliance and best practices.

4

We're calling on the new government to offer meaningful support to small businesses 📢 A recent survey launched by the Association of Practising Accountants (APA) found that many owner-managed businesses do not currently aspire for growth and are not looking to make any real capital investments, citing uncertain trading conditions, wage inflation, labour shortages, and supply-chain costs as contributing factors to a lack of business confidence 🚩 Despite this, we believe there is a real opportunity for the government to reengage a vital part of the UK economy with structured support to unlock growth and help these businesses thrive. Find out more here: https://okt.to/UGWz1L #WeAreDuncanToplis #SMEs #UK #Accountancy #Accounting

6

🌟 Exciting News from ICAEW! 🌟 ICAEW has unveiled transformative updates to its world-leading ACA qualification, set to launch in September 2025. The Next Generation ACA brings a streamlined structure, enriched resources for digital skill development, and the ability for students to specialise earlier in their careers. Focused on three core pillars – technology, sustainability, and ethics – this updated qualification is designed to equip future accountants with the tools they need to thrive in a rapidly evolving business landscape. These changes reflect our commitment to preparing the next generation for the challenges and opportunities of tomorrow. Read more > https://lnkd.in/eS9Vk7Jk #ACA #NextGenACA #FutureAccountants #ICAEW #Sustainability #DigitalSkills

12

It’s live!!!! 🚨🚨🚨 Want to see our podcast reaction on the budget? Watch it here ➡️ https://lnkd.in/ejEnAnfE With special guests: Sharon Bishop FCCA - Awesome Accountants Limited Matt Machan - @macham wealth management Karl Marriott - MaSupl ltd And of course myself - entrepreneur and property manager expert See what our initial thoughts on the budget and how it may effect each of our industries from property, accountancy, tax, pensions and estate planning - we cover it all! So grab yourself a draft beer 😂 and take a look at what we have to say #property #wills #estateplanning #pensions #accoutning #chartered

3

1 Comment

A good video summary of todays Budget changes from our national heads of tax and private clients - Robert Marchant and Peter Fairchild . Check out our website and linkedin feed for more information. Crowe UK https://lnkd.in/eSJNgruF

14

A case study and testimonial example of using our services - with The King of Shaves Company Ltd: "Moving to BookCheck from an inhouse set up has been an excellent experience. All our team have taken well to the new way of working and we’ve found your team excellent to work with. It’s transformed our processes and we now have quality MI." - Andy Hill, Director. Problems outlined before BookCheck came onboard and the solutions that were provided going forwards using our services are in the full case study - click here: https://zurl.co/LbJb #bookkeepingservices #bookkeeping #accounting #accountinginformation #managementinformation #managementsoftware #managementaccounts

5

Off-payroll is “loss-making exercise for the Treasury” It does not make sense for one department (HMRC) to charge another for tax, which it then gives to the Treasury, to pay the bill. There is a reason the public sector has ended up putting vast numbers of people on-payroll (e.g. not outside IR35). It's a combination of a few factors, which I'll write about in due course (I'm sat on some FOI's). Clue: they've effected been strong-armed into doing so, irrespective of the position in law. Somewhere in the centre, something hasn't been excellent. OPW in the public sector has been a disaster, and just increased costs. We don't actually need OPW for the public sector - they could just run a rule which says every single hire is a deemed employee, and the result would be near-on the same. The stupidy of it all. Worthy of a Tax Policy Darwin award. #ir35 #offpayroll

129

19 Comments

Great article by Nadia Cowdrey for Croner's Accountancy Daily, on the POAT IHT trap for donors, e.g. gifting cash to family for a property purchase. Remember, its not enough to just navigate the IHT GWR rules. Read the whole article: https://lnkd.in/eyGnaAqn The Pre-Owned Asset Tax (POAT) rules can catch out parents gifting cash to fund a family property purchase and later live there too. Readers may be familiar with the Gift With Reservation of Benefit (GWR) rule which is more self-explanatory, but POAT is a form of Income Tax, normally triggered when elderly people who have gifted funds to and then live with their family much later in life. Imagine one has gifted cash to their child or grandchild who buys their first home. They then survive the notorious 7-years (making the gift successful from an IHT perspective) and have not resided with their family so there is no scope for GWR to bite. Then, rather going into a care facility or renting, they move in with that same family as a better alternative for them. This is where POAT can apply. If they did move in much earlier and GWR could have been in scope then usually the tax advice is to pay market rent for their occupation. The article highlights that there is usually no immediate benefit to the donor and for GWR purposes there is no change in their circumstances for at least 7 years. It gives an example of a granny annex being built too! pure-tax.com #hmrc #accounting #accountingandaccountants Network Tree

11

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

12

Many of the conversations I’ve had with connections of late, whether here or abroad via AGN International have been around ESG, so attending the Coventry & Warwickshire First cross sector dinner this evening on the subject of sustainability, carbon accounting and ESG reporting is well timed; as we begin to navigate the inevitable changes that are coming down the road for us and our clients.  #ESG #sustainability #leadership #globalperspective #insights

34

3 Comments

Perfect for SME's and owner managed businesses who are spending too much time on finance or who are unhappy with their service. Cloud bring Best Practices in Accounting and also help you access appropriate technolgies to deliver your optimal finance solution. Give Gavin a call!

4

Watch back our latest Manufacturing Outlook webinar with Make UK This quarter, we were joined by Stephen Phipson CBE, Chief Executive at Make UK. Stephen shared his expert perspective on the multifaceted opportunities and challenges facing UK manufacturers today—from the pressing talent shortages to the complexities of supply chain and trade. We also delved into government priorities and the importance of an industrial strategy for the sector. We were also joined by Senior Economist James Brougham who provided an update on the results from our Q3 Make UK/BDO Manufacturing Outlook. Listen back to the webinar here: https://lnkd.in/e-G-hRRu #UKmanufacturing #webinar #ManufacturingOutlook

4

A major piece of work has been published today @PwC_UK, which is setting the scene for discussions about how we can develop a sustainable Industrial Strategy in the UK. You can read its Framework for Growth here and get in touch if you'd like to be part of future discussions. #IndustrialStrategy

1

Does anyone in the world (well OK, the UK at least) NOT call Business Asset Disposal Relief "Entrepreneur's Relief???" Change is coming to BADR next year and it is important to understand it but even more importantly DON'T PANIC!!!! The reality is if you do not already have a sale under way already the only deal you can get done before 6 April next year is likely to be a bad deal (or at least not the best deal you could do...) Also don't be rushed into some sort of off market sale (say an MBO) just to save a maximum of £40k of tax per person... If a deal is underway it's worth trying to get it over the line before the changes, but not at all costs! If your buyer smells blood in the water they won't be shy in trying to beat you down in order to get the deal done before the tax rate increases... Selling yourself short just to save a bit of tax is likely to lead to a bad case of seller's remorse in the future, so take a step back, understand what you actually "need" to sell your business for and make sure you consider the whole picture before rushing to try to get something/anything done by 5 April 2025... We've just added an article to our website on what the changes do (and don't) mean - might not be a bad place to start! https://lnkd.in/eQSqCNZz IN Accountancy Limited #BADR #CGT

24

10 Comments