The document summarizes the key points from a spring tax update presentation given by PKF Francis Clark in Salisbury in March 2017. It provides an overview of the newly appointed partners and directors at PKF Francis Clark. It also summarizes the presentations given on making tax digital, the budget overview, business tax updates, and personal tax updates. Key points included reducing the dividend tax allowance, changes to business rates and financing costs for residential property landlords, and the introduction of the residence nil rate band for inheritance tax.
Our Spring Tax Update will be taking place across the region between the 8th and 10th March 2017.
The update will include the following:
•An update on the latest HMRC consultations
•Analysis of the tax announcements in the 2017 Budget
•A review of the current property tax environment
•The latest on Making Tax Digital and interaction with cloud accounting
Our Spring Tax Update will be taking place across the region between the 8th and 10th March 2017.
The update will include the following:
•An update on the latest HMRC consultations
•Analysis of the tax announcements in the 2017 Budget
•A review of the current property tax environment
•The latest on Making Tax Digital and interaction with cloud accounting
Our Spring Tax Update will be taking place across the region between the 8th and 10th March 2017.
The update will include the following:
•An update on the latest HMRC consultations
•Analysis of the tax announcements in the 2017 Budget
•A review of the current property tax environment
•The latest on Making Tax Digital and interaction with cloud accounting
Our Spring Tax Update will be taking place across the region between the 8th and 10th March 2017.
The update will include the following:
•An update on the latest HMRC consultations
•Analysis of the tax announcements in the 2017 Budget
•A review of the current property tax environment
•The latest on Making Tax Digital and interaction with cloud accounting
Our Spring Tax Update will be taking place across the region between the 8th and 10th March 2017.
The update will include the following:
•An update on the latest HMRC consultations
•Analysis of the tax announcements in the 2017 Budget
•A review of the current property tax environment
•The latest on Making Tax Digital and interaction with cloud accounting
On Wednesday 16 March the Chancellor of the Exchequer, George Osborne, will deliver his second coalition-free budget speech setting out the Government's plans for the economy based on the latest forecasts from the Office for Budget Responsibility as well as any proposals for changes to taxation.
There is little doubt that the Chancellor will continue on his path of austerity, particularly in driving down Government overheads and closing tax avoidance loopholes to fulfil his aim of eliminating the deficit by the end of the decade, but there are challenges ahead. The extended honeymoon of close to zero inflation will end during 2016 and as the rate of inflation rises, the Bank of England Monetary Policy Committee is likely to follow suit by raising interest rates and businesses will need to factor this in when planning ahead.
Our tax partners and consultants will be analysing the measures taken in the Budget and we will be presenting our analysis and commentaries.
Our Spring Tax Updates will be taking place across the region in March 2018.
The update will include the following:
• Comment on the latest legislative changes
• Provide practical advice
• Help to prepare for the end of the tax year
• Give thoughts on the current tax policy
Our Spring Tax Update will be taking place across the region between the 8th and 10th March 2017.
The update will include the following:
•An update on the latest HMRC consultations
•Analysis of the tax announcements in the 2017 Budget
•A review of the current property tax environment
•The latest on Making Tax Digital and interaction with cloud accounting
Our Spring Tax Update will be taking place across the region between the 8th and 10th March 2017.
The update will include the following:
•An update on the latest HMRC consultations
•Analysis of the tax announcements in the 2017 Budget
•A review of the current property tax environment
•The latest on Making Tax Digital and interaction with cloud accounting
Our Spring Tax Update will be taking place across the region between the 8th and 10th March 2017.
The update will include the following:
•An update on the latest HMRC consultations
•Analysis of the tax announcements in the 2017 Budget
•A review of the current property tax environment
•The latest on Making Tax Digital and interaction with cloud accounting
Our Spring Tax Update will be taking place across the region between the 8th and 10th March 2017.
The update will include the following:
•An update on the latest HMRC consultations
•Analysis of the tax announcements in the 2017 Budget
•A review of the current property tax environment
•The latest on Making Tax Digital and interaction with cloud accounting
Our Spring Tax Update will be taking place across the region between the 8th and 10th March 2017.
The update will include the following:
•An update on the latest HMRC consultations
•Analysis of the tax announcements in the 2017 Budget
•A review of the current property tax environment
•The latest on Making Tax Digital and interaction with cloud accounting
On Wednesday 16 March the Chancellor of the Exchequer, George Osborne, will deliver his second coalition-free budget speech setting out the Government's plans for the economy based on the latest forecasts from the Office for Budget Responsibility as well as any proposals for changes to taxation.
There is little doubt that the Chancellor will continue on his path of austerity, particularly in driving down Government overheads and closing tax avoidance loopholes to fulfil his aim of eliminating the deficit by the end of the decade, but there are challenges ahead. The extended honeymoon of close to zero inflation will end during 2016 and as the rate of inflation rises, the Bank of England Monetary Policy Committee is likely to follow suit by raising interest rates and businesses will need to factor this in when planning ahead.
Our tax partners and consultants will be analysing the measures taken in the Budget and we will be presenting our analysis and commentaries.
Our Spring Tax Updates will be taking place across the region in March 2018.
The update will include the following:
• Comment on the latest legislative changes
• Provide practical advice
• Help to prepare for the end of the tax year
• Give thoughts on the current tax policy
Workplace pension law has changed. Every employer has new legal duties to help their workers in the UK save for retirement. As an employer you must automatically enrol eligible workers into a qualifying pension scheme and make contributions towards it.
The largest employers have already gone through this process and increasing numbers of employers are affected by the legislation each month. At the peak in late summer 2017, around 135,000 employers are due to reach their compliance (staging) date every single month.
The duties required of each employer do not finish with this staging date. Continuous assessments, communications and record keeping have to be carried out every time you pay your workforce and make their pension contributions. The Pensions Regulator has introduced stringent penalties for failure to comply with the 30+ new Auto Enrolment duties introduced by the Government.
Our Spring Tax Updates will be taking place across the region in March 2018.
The update will include the following:
• Comment on the latest legislative changes
• Provide practical advice
• Help to prepare for the end of the tax year
• Give thoughts on the current tax policy
Our Spring Tax Updates will be taking place across the region in March 2018.
The update will include the following:
• Comment on the latest legislative changes
• Provide practical advice
• Help to prepare for the end of the tax year
• Give thoughts on the current tax policy
Profit extraction and investment for family and OMB businesses - ExeterPKF Francis Clark
This practical seminar will look at options and opportunities available under current and proposed tax legislation. We will examine the taxation consequences but also highlight broader commercial and practical issues in relation to profit extraction and investment. Our aim is that delegates will have a better idea of how to ensure they and their businesses continue to thrive.
Bournemouth – Finance Directors’ Update - December 2015PKF Francis Clark
Our six-monthly Finance Seminars provide an overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Profit extraction and investment for family and OMB businesses - Bodmin/RedruthPKF Francis Clark
This practical seminar will look at options and opportunities available under current and proposed tax legislation. We will examine the taxation consequences but also highlight broader commercial and practical issues in relation to profit extraction and investment. Our aim is that delegates will have a better idea of how to ensure they and their businesses continue to thrive.
A review of the 2017 Spring Budget and the impact it may have on individuals and businesses in the South West. Plus, an insight into HMRC's Making Tax Digital initiative.
During this webinar we will review the current status of the tax world for both business and personal tax. This webinar will dive into how we got to where we are at, what is going on now, and where we might be headed in 2017 and beyond. This presentation will also highlight new, proposed tax reform plans, how they differ from the current plans, and how they might impact both business and personal income tax.
Our Spring Tax Updates will be taking place across the region in March 2018.
The update will include the following:
• Comment on the latest legislative changes
• Provide practical advice
• Help to prepare for the end of the tax year
• Give thoughts on the current tax policy
Virginia Businesses: STOP Overpaying Local BPOL Tax\Aronson LLC
Join Aronson tax experts Michael L. Colavito, Jr. and Grant Patterson as they guide you in determining if your business is paying too much in Virginia local business license tax, also known as BPOL tax. Each year taxpayers oftentimes misinterpret “out-of-state deductions” and the common deductions and exclusions related to BPOL tax. With the Supreme Court of Virginia weighing in on the “out-of-state” deduction in 2015 and regulations on the horizon, many taxpayers are discovering that they have been making significant overpayments in BPOL tax.
By the end of this webinar, participants will:
-Have an understanding of the BPOL tax;
-Recognize the common deductions and exclusions available to taxpayers;
-Determine if the “out-of-state” deduction is available to a taxpayer;
-Compute the out-of-state deduction; and
-Know what to expect if they decide to file a refund claim with a locality.
Who should watch this webinar?
The topics discussed are particularly relevant to members of the accounting and finance departments for Virginia businesses providing services, such as:
-Government contractors
-Information technology companies
-Consulting businesses
NCET Biz Cafe | Mike Bosma, Is My Entity Still the Right Vehicle? | Jan 2019Archersan
C Corp, S Corp, LLCs and beyond: The alphabet soup that comprises business designations can leave you with questions — lots of questions.
And that’s in a “routine” climate.
But the current business climate is anything but predictable, as tax reform has left even MORE unanswered questions. This Biz Café is here to help you rest assured that your business entity has the right designation for maximum cash flow.
Get a jump start on tax season with this presentation that will help you secure answers to your tax and deduction questions. Mike Bosma is our guest, who has been the Reno office Principal in Charge since joining CliftonLarsonAllen in January 2017. He has been in public accounting specializing in taxation for more than 24 years and is dedicated to assisting taxpayers attain higher levels of success through proactive tax planning, creative restructuring and strategic business solutions.
And he’s joining us for the January Biz Café, called “Is My Entity that I Selected Pre-Tax-Reform Still the Right Vehicle?”
Here are some questions that may just be keeping you as a business owner up at night:
• With the new 21 percent corporate tax rate, should I be a C corporation?
• How do I maximize the 20 percent 199A deduction as an S corporation?
• Should everyone be an LLC so we don’t have to pay wages?
• I am a professional services firm; how do I structure my affairs to minimize taxes?
In association with Croner Taxwise, the conference will focus on some specific areas that we believe will be of significant interest and relevance for our consultancy clients.
Employment status & off-payroll (IR35)
VAT
Managing people in the modern accountancy practice
Dealing with fast growth business
Tax planning for the family business
Dealing with Non-Doms
Our summer newsletter's cover articles look at planning for the reduction in the dividend allowance and highlight that another tax rise will be with us soon. Check out these articles and lots more!
This presentation will address various challenges in the application of tax provisions under ASC 740, Accounting for Income Taxes. The discussion will focus on complexities related to the calculation and reporting of valuation allowances, deferred taxes, interim taxes, intraperiod tax allocation, uncertain tax positions, and financial statement presentation.
For more information visit www.heincpa.com.
Payroll is a constantly changing system and keeping up to date with legislation and how this affects you and your staff can be difficult. Kirsty Small, Payroll & Auto Enrolment Services Manager, will guide you through the finer points of the changes and other topical issues.
Bournemouth - Essential 6-monthly Finance Directors' Update – Nov/Dec 2016 PKF Francis Clark
Our six-monthly Finance Seminars provide a high level overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Workplace pension law has changed. Every employer has new legal duties to help their workers in the UK save for retirement. As an employer you must automatically enrol eligible workers into a qualifying pension scheme and make contributions towards it.
The largest employers have already gone through this process and increasing numbers of employers are affected by the legislation each month. At the peak in late summer 2017, around 135,000 employers are due to reach their compliance (staging) date every single month.
The duties required of each employer do not finish with this staging date. Continuous assessments, communications and record keeping have to be carried out every time you pay your workforce and make their pension contributions. The Pensions Regulator has introduced stringent penalties for failure to comply with the 30+ new Auto Enrolment duties introduced by the Government.
Our Spring Tax Updates will be taking place across the region in March 2018.
The update will include the following:
• Comment on the latest legislative changes
• Provide practical advice
• Help to prepare for the end of the tax year
• Give thoughts on the current tax policy
Our Spring Tax Updates will be taking place across the region in March 2018.
The update will include the following:
• Comment on the latest legislative changes
• Provide practical advice
• Help to prepare for the end of the tax year
• Give thoughts on the current tax policy
Profit extraction and investment for family and OMB businesses - ExeterPKF Francis Clark
This practical seminar will look at options and opportunities available under current and proposed tax legislation. We will examine the taxation consequences but also highlight broader commercial and practical issues in relation to profit extraction and investment. Our aim is that delegates will have a better idea of how to ensure they and their businesses continue to thrive.
Bournemouth – Finance Directors’ Update - December 2015PKF Francis Clark
Our six-monthly Finance Seminars provide an overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Profit extraction and investment for family and OMB businesses - Bodmin/RedruthPKF Francis Clark
This practical seminar will look at options and opportunities available under current and proposed tax legislation. We will examine the taxation consequences but also highlight broader commercial and practical issues in relation to profit extraction and investment. Our aim is that delegates will have a better idea of how to ensure they and their businesses continue to thrive.
A review of the 2017 Spring Budget and the impact it may have on individuals and businesses in the South West. Plus, an insight into HMRC's Making Tax Digital initiative.
During this webinar we will review the current status of the tax world for both business and personal tax. This webinar will dive into how we got to where we are at, what is going on now, and where we might be headed in 2017 and beyond. This presentation will also highlight new, proposed tax reform plans, how they differ from the current plans, and how they might impact both business and personal income tax.
Our Spring Tax Updates will be taking place across the region in March 2018.
The update will include the following:
• Comment on the latest legislative changes
• Provide practical advice
• Help to prepare for the end of the tax year
• Give thoughts on the current tax policy
Virginia Businesses: STOP Overpaying Local BPOL Tax\Aronson LLC
Join Aronson tax experts Michael L. Colavito, Jr. and Grant Patterson as they guide you in determining if your business is paying too much in Virginia local business license tax, also known as BPOL tax. Each year taxpayers oftentimes misinterpret “out-of-state deductions” and the common deductions and exclusions related to BPOL tax. With the Supreme Court of Virginia weighing in on the “out-of-state” deduction in 2015 and regulations on the horizon, many taxpayers are discovering that they have been making significant overpayments in BPOL tax.
By the end of this webinar, participants will:
-Have an understanding of the BPOL tax;
-Recognize the common deductions and exclusions available to taxpayers;
-Determine if the “out-of-state” deduction is available to a taxpayer;
-Compute the out-of-state deduction; and
-Know what to expect if they decide to file a refund claim with a locality.
Who should watch this webinar?
The topics discussed are particularly relevant to members of the accounting and finance departments for Virginia businesses providing services, such as:
-Government contractors
-Information technology companies
-Consulting businesses
NCET Biz Cafe | Mike Bosma, Is My Entity Still the Right Vehicle? | Jan 2019Archersan
C Corp, S Corp, LLCs and beyond: The alphabet soup that comprises business designations can leave you with questions — lots of questions.
And that’s in a “routine” climate.
But the current business climate is anything but predictable, as tax reform has left even MORE unanswered questions. This Biz Café is here to help you rest assured that your business entity has the right designation for maximum cash flow.
Get a jump start on tax season with this presentation that will help you secure answers to your tax and deduction questions. Mike Bosma is our guest, who has been the Reno office Principal in Charge since joining CliftonLarsonAllen in January 2017. He has been in public accounting specializing in taxation for more than 24 years and is dedicated to assisting taxpayers attain higher levels of success through proactive tax planning, creative restructuring and strategic business solutions.
And he’s joining us for the January Biz Café, called “Is My Entity that I Selected Pre-Tax-Reform Still the Right Vehicle?”
Here are some questions that may just be keeping you as a business owner up at night:
• With the new 21 percent corporate tax rate, should I be a C corporation?
• How do I maximize the 20 percent 199A deduction as an S corporation?
• Should everyone be an LLC so we don’t have to pay wages?
• I am a professional services firm; how do I structure my affairs to minimize taxes?
In association with Croner Taxwise, the conference will focus on some specific areas that we believe will be of significant interest and relevance for our consultancy clients.
Employment status & off-payroll (IR35)
VAT
Managing people in the modern accountancy practice
Dealing with fast growth business
Tax planning for the family business
Dealing with Non-Doms
Our summer newsletter's cover articles look at planning for the reduction in the dividend allowance and highlight that another tax rise will be with us soon. Check out these articles and lots more!
This presentation will address various challenges in the application of tax provisions under ASC 740, Accounting for Income Taxes. The discussion will focus on complexities related to the calculation and reporting of valuation allowances, deferred taxes, interim taxes, intraperiod tax allocation, uncertain tax positions, and financial statement presentation.
For more information visit www.heincpa.com.
Payroll is a constantly changing system and keeping up to date with legislation and how this affects you and your staff can be difficult. Kirsty Small, Payroll & Auto Enrolment Services Manager, will guide you through the finer points of the changes and other topical issues.
Bournemouth - Essential 6-monthly Finance Directors' Update – Nov/Dec 2016 PKF Francis Clark
Our six-monthly Finance Seminars provide a high level overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Exeter - Essential 6-monthly Finance Directors' Update – Nov/Dec 2016 PKF Francis Clark
Our six-monthly Finance Seminars provide a high level overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Adding to our series of existing events, Finance in the South West and Finance in Cornwall, Finance in Dorset looks to bring together people representing the funding and support streams potentially available to SMEs. Therefore, the event is of great relevance to Business Owners and Managers looking to find the best finance options available for their business and the support on offer to help them achieve their aims.
As part of the event we are running targeted sessions depending on your business needs - aimed at start-ups/businesses who have been trading for less than two years and those that have been trading for more than two years.
Taunton - Essential 6-monthly Finance Directors' Update – Nov/Dec 2016PKF Francis Clark
Our six-monthly Finance Seminars provide a high level overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Plymouth - Essential 6-monthly Finance Directors' Update – Nov/Dec 2016 PKF Francis Clark
Our six-monthly Finance Seminars provide a high level overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
The Cornwall Agri-food Council in partnership with PKF Francis Clark and the Cornwall and Isles of Scilly Local Enterprise Partnership are delighted to invite you to this seminar, which aims to help you navigate the world of grant funding. A range of support is available to farmers, food processors, forestry businesses, rural businesses and community and voluntary organisations in 2017 and the panel of speakers will guide you through the options available.
Finance in Dorset 2017 - Established (>2 Years) Session PKF Francis Clark
Adding to our series of existing events, Finance in the South West and Finance in Cornwall, Finance in Dorset looks to bring together people representing the funding and support streams potentially available to SMEs. Therefore, the event is of great relevance to Business Owners and Managers looking to find the best finance options available for their business and the support on offer to help them achieve their aims.
As part of the event we are running targeted sessions depending on your business needs - aimed at start-ups/businesses who have been trading for less than two years and those that have been trading for more than two years.
PKF Francis Clark is hosting a seminar which brings together providers of business funding, including both debt and equity; business support agencies including grant specialists; our own corporate finance experts and business owners themselves to provide short, sharp presentations in order to assist business owners and managers in assessing which funding stream is right for them.
Finance in the South West 2017 - Established (>2 Years) Session PKF Francis Clark
PKF Francis Clark is hosting a seminar which brings together providers of business funding, including both debt and equity; business support agencies including grant specialists; our own corporate finance experts and business owners themselves to provide short, sharp presentations in order to assist business owners and managers in assessing which funding stream is right for them.
Bodmin - Essential 6-monthly Finance Directors' Update – Nov/Dec 2016 PKF Francis Clark
Our six-monthly Finance Seminars provide a high level overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
PKF Francis Clark is hosting a seminar which brings together providers of business funding, including both debt and equity; business support agencies including grant specialists; our own corporate finance experts and business owners themselves to provide short, sharp presentations in order to assist business owners and managers in assessing which funding stream is right for them.
Adding to our series of existing events, Finance in the South West and Finance in Cornwall, Finance in Dorset looks to bring together people representing the funding and support streams potentially available to SMEs. Therefore, the event is of great relevance to Business Owners and Managers looking to find the best finance options available for their business and the support on offer to help them achieve their aims.
As part of the event we are running targeted sessions depending on your business needs - aimed at start-ups/businesses who have been trading for less than two years and those that have been trading for more than two years.
Our Spring Tax Update will be taking place across the region between the 8th and 10th March 2017.
The update will include the following:
•An update on the latest HMRC consultations
•Analysis of the tax announcements in the 2017 Budget
•A review of the current property tax environment
•The latest on Making Tax Digital and interaction with cloud accounting
Francis Clark is pleased to invite you to our fourth annual innovation and technology conference which is taking place at the Exeter University Innovation Centre.
The morning will bring together a number of topical issues to those involved in innovation and technology, from start-ups to multi-million pound turnover businesses. There will also be an opportunity to hear more about the Innovation Centre itself, and during the morning we will be offering a tour around the 'Centre for Additive Layer Manufacturing' on the University campus.
Our annual series of Charity Seminars provide an overview of the most important developments in financial reporting and taxation issues affecting the charitable sector. As the charitable sector has been rocked by a series of scandals recently, we will also look at issues surrounding 'good governance', trustee responsibilities and reputational risk. There will also be an analysis of the legal issues around legacies and probate claims, consideration of investment returns and a presentation on cyber fraud and the risks it presents to charities.
Our annual series of Charity Seminars provide an overview of the most important developments in financial reporting and taxation issues affecting the charitable sector. As the charitable sector has been rocked by a series of scandals recently, we will also look at issues surrounding 'good governance', trustee responsibilities and reputational risk. There will also be an analysis of the legal issues around legacies and probate claims, consideration of investment returns and a presentation on cyber fraud and the risks it presents to charities.
Bournemouth - Essential 6-monthly Finance Directors' Update - June 2016PKF Francis Clark
Our six-monthly Finance Seminars provide an overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Our seminars aim to provide the essential elements of technical CPD for a finance director.
Exeter - Essential 6-monthly Finance Directors' Update - June 2016PKF Francis Clark
Our six-monthly Finance Seminars provide an overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Our seminars aim to provide the essential elements of technical CPD for a finance director.
Our annual series of Charity Seminars provide an overview of the most important developments in financial reporting and taxation issues affecting the charitable sector. As the charitable sector has been rocked by a series of scandals recently, we will also look at issues surrounding 'good governance', trustee responsibilities and reputational risk. There will also be an analysis of the legal issues around legacies and probate claims, consideration of investment returns and a presentation on cyber fraud and the risks it presents to charities.
Our annual series of Charity Seminars provide an overview of the most important developments in financial reporting and taxation issues affecting the charitable sector. As the charitable sector has been rocked by a series of scandals recently, we will also look at issues surrounding 'good governance', trustee responsibilities and reputational risk. There will also be an analysis of the legal issues around legacies and probate claims, consideration of investment returns and a presentation on cyber fraud and the risks it presents to charities.
Exeter - Essential 6-monthly Finance Directors' Update - June 2017 PKF Francis Clark
Our six-monthly Finance Seminars provide an overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
For our June round of seminars, 'the technology of change' will be a theme throughout the sessions. The pace of technological change is disruptive to established businesses and we will highlight the impact of technology on the FD's agenda.
Alongside the technological change, the General Election provides another layer of uncertainty to the business landscape. This has already been seen in the scaling back of the Finance Bill. We will examine the key issues raised.
PKF Francis Clark invites you to attend our annual Property Sector Update at Exeter Racecourse on Thursday 28 September.
The results of the snap General Election in June has undoubtedly caused more uncertainty to a property sector still waiting for an induction as to where things will stand in a post-Brexit economic environment.
Despite all of the uncertainty, property remains a key asset, giving strong income returns and in many cases proving to be a refuge of capital preservation for the investor and the wider family.
Against this backdrop, we will be exploring key taxation, wealth planning and accounting issues affecting the property sector today.
The seminar, chaired by Head of Tax, John Endacott, will be particular interest to landowners, developers, commercial and residential investors and landlords.
Francis Clark - Essential 6-monthly Finance Directors' Update - June 2015PKF Francis Clark
Our six-monthly Finance Seminars provide an overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Taunton - Essential 6-monthly Finance Directors' Update - June 2016PKF Francis Clark
Our six-monthly Finance Seminars provide an overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Our seminars aim to provide the essential elements of technical CPD for a finance director.
Plymouth - Essential 6-monthly Finance Directors' Update - June 2016PKF Francis Clark
Our six-monthly Finance Seminars provide an overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Our seminars aim to provide the essential elements of technical CPD for a finance director.
Fraddon - Essential 6-monthly Finance Directors' Update - June 2016PKF Francis Clark
Our six-monthly Finance Seminars provide an overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Our seminars aim to provide the essential elements of technical CPD for a finance director.
On Wednesday 23 November, the Chancellor of the Exchequer, Philip Hammond, will deliver the first Autumn Statement since the Brexit vote. He will set out the Government's taxation and spending plans based on the economic projections provided by the Office for Budget Responsibility (OBR).
Our annual series of Charity Seminars held across the region, provide an overview of the most important developments in financial matters affecting the charitable sector.
Alongside our usual financial reporting, VAT and investment sessions, we have invited Business Recovery Partner, Lucinda Coleman, to examine the risks and responsibilities of a charity becoming insolvent and how those risks can be minimised.
We have also invited a specialist fundraising expert to discuss topical issues around the subject and James Evans, Partner at Tozers LLP, will be providing the legal update to include the upcoming changes to data protection rules.
Our annual series of Charity Seminars held across the region, provide an overview of the most important developments in financial matters affecting the charitable sector.
Alongside our usual financial reporting, VAT and investment sessions, we have invited Business Recovery Partner, Lucinda Coleman, to examine the risks and responsibilities of a charity becoming insolvent and how those risks can be minimised.
We have also invited a specialist fundraising expert to discuss topical issues around the subject and James Evans, Partner at Tozers LLP, will be providing the legal update to include the upcoming changes to data protection rules.
Designed to benefit financial controllers and directors working in commerce, providing an ideal opportunity to update your knowledge on a wide range of subjects.
Taunton - Essential 6-monthly Finance Directors' Update - June 2017 PKF Francis Clark
Our six-monthly Finance Seminars provide an overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
For our June round of seminars, 'the technology of change' will be a theme throughout the sessions. The pace of technological change is disruptive to established businesses and we will highlight the impact of technology on the FD's agenda.
Alongside the technological change, the General Election provides another layer of uncertainty to the business landscape. This has already been seen in the scaling back of the Finance Bill. We will examine the key issues raised.
Exeter - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
Plymouth - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
Bristol - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
For innovative businesses it is vital to take advantage of support that can enable a business to grow. This includes tax reliefs aimed at the different stages in a business’s life cycle and the various avenues that are available for raising finance to take the business to the next level of its development. In this session we will look at the early stage of R&D claims and funding opportunities, through to share schemes, EIS and international expansion and the correlation with raising finance, both equity and debt, culminating in the final stage of the business being sold, what this can look like and how to be prepared.
Bodmin - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
Taunton - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
Bournemouth - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
Whilst uncertainty is unhelpful to many in the sector, the delay to Brexit has seen a continuing boom in the commercial property market in the South West, with 1.7m square feet of space coming on stream over the last 12 months – concentrated in the industrial and logistic sectors. What is clear is that those in the property sector, whether developer, landlord, investor or landowner need to concentrate on exploiting opportunities and managing costs wherever possible.
Property is still a key asset, giving strong income returns and means of capital preservation for the investor and wider family. Our highly knowledgeable and experienced advisers will offer practical, constructive insights and advice
With over 300 debt finance options currently available to businesses, we thought it timely to have a look at that market.
Presenters include:
. Michael Cass (Capitalise)
. Rachel Taylor (SWIG Finance)
. Andrew James (PKF Francis Clark)
In addition to an overview of the debt market, presentations will include tips on how to access the finance that matches your business’ requirements.
This month’s Breakfast Briefing is based on the hottest topic in company ownership – Employee Ownership Trusts.
South West firm, Paradigm Norton is the latest business to make headlines by becoming employee owned. It follows hot on the heels of Richer Sounds joining the most well-known employee owned company, John Lewis. High street staple Lush has also started the journey.
PKF Francis Clark will be joined by Christian Wilson from Stephens Scown to look at the Employee Ownership Trust model from a legal and tax perspective. We will also hear some of the factors that are stimulating increasing interest in the model, including the results of research showing that the greater staff engagement and lower staff turnover associated with this model helps to employee owned companies to achieve:
- Sales increase of 4.6% per year
- EBITDA increase of 25.5% per year
- Productivity increase of 4.5% per year
We will also consider some of the practical issues to be considered in deciding whether this is an option to pursue and in implementation. There will be a brief mention of some other related (i.e., employee engagement) issues.
The seminar is timed to coincide with the expected publication dates of the new Academies Financial Handbook and the new Academies Accounts Direction. We will cover the main changes in a clear and understandable way.
These technical presentations will be complemented by other relevant and topical matters, including, governance and risk management, VAT and Integrated Financial Curriculum Planning - which is currently a very popular financial health check review of the ESFA.
Our intention is for the seminars to be relaxed and informal, offering you opportunities to ask questions and to meet your counterparts from other Trusts.
Topics include:
• Update on the Academies Accounts Direction
• Update on the Academies Financial Handbook
• What does a good board look like?
• Integrated Curriculum Financial Planning
• Are you managing risk?
• VAT Update
The seminar is timed to coincide with the expected publication dates of the new Academies Financial Handbook and the new Academies Accounts Direction. We will cover the main changes in a clear and understandable way.
These technical presentations will be complemented by other relevant and topical matters, including, governance and risk management, VAT and Integrated Financial Curriculum Planning - which is currently a very popular financial health check review of the ESFA.
Our intention is for the seminars to be relaxed and informal, offering you opportunities to ask questions and to meet your counterparts from other Trusts.
Topics include:
• Update on the Academies Accounts Direction
• Update on the Academies Financial Handbook
• What does a good board look like?
• Integrated Curriculum Financial Planning
• Are you managing risk?
• VAT Update
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
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1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
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3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
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3. Measures and Reporting in Sustainability
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6. pkf-francisclark.co.ukpkf-francisclark.co.uk
• Budget day changing to autumn from 2017
• This update will be in March again next year
More convenient timing for attendees
We have better information to share
Access to consultations and draft legislation
Spring tax update
9. pkf-francisclark.co.ukpkf-francisclark.co.uk
.
Making tax digital
New HMRC initiative revolutionising the way businesses file
online
• Landlords and unincorporated businesses with turnover over the
VAT registration limit start to file from 5 April 2018
• VAT will be filed via MTD from 5 April 2019, and businesses with
turnover below the VAT registration limit will start to file quarterly
• Corporates and large (> £10m) partnerships 5 April 2020
• Run-off of existing returns, plus any other income where HMRC
doesn’t receive details through third parties
• First years will have multiple deadlines to meet
10. pkf-francisclark.co.ukpkf-francisclark.co.uk
.
Making tax digital
• Deadline for submitting quarterly returns one month after the quarter
end
• Deadline for submitting final adjustments for year will be the sooner
of ten months after the year end, or 31 January following the year of
assessment (the existing tax return deadline)
• Applies to the first accounting period that begins after 5 April 2018,
so 5 April year ends’ first quarterly reporting date is 5 July 2018, and
first MTD deadline on 5 August 2018
11. pkf-francisclark.co.ukpkf-francisclark.co.uk
.
Making tax digital
Government has given some assurances regarding small
businesses, and the digitally excluded:
• Businesses can use spreadsheets for record keeping, but must file
via MTD-compliant software
• Businesses eligible for three line accounts can submit quarterly
updates with only three lines of data (income, expenses and profit)
• Free software will be available to businesses with “the most
straightforward affairs” – in practice, this will mean those under the
VAT registration limit and with no employees
12. pkf-francisclark.co.ukpkf-francisclark.co.uk
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Making tax digital
• No need to scan in invoices
• Where more than one property is owned, only one update for the
entire property business required – originally appeared to be per
property
• Accounting adjustments not needed at quarterly updates – can be
made in final adjustment for year
• Declaration of partnership splits now optional for quarterly updates –
must be notified in year end adjustment
• Partnerships must return all income and gains i.e. investment
income as well as trading income
• Will not include CIS returns for the time being – current quarterly
return system will continue
13. pkf-francisclark.co.ukpkf-francisclark.co.uk
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Making tax digital
• Government has yet to decide on de minimis limit below which MTD
will not apply
• Will clarify later in 2017
• £10,000 is too low (below the personal allowance) but unlikely that a
limit as high as the VAT registration threshold will be considered
acceptable
23. pkf-francisclark.co.ukpkf-francisclark.co.uk
• Worries over the economy – Brexit
• Digitisation and automation
Making tax digital (MTD)
Fourth industrial revolution
Productivity (or lack of it)
• Changing employment patterns
Attacks on self employment
Concern over incorporations
• Pressure on property owners – business rates
• Crackdown on evasion and ‘bad’ avoidance
Spring tax update - themes
25. pkf-francisclark.co.ukpkf-francisclark.co.uk
• New funding designed to help the UK compete in science
and innovation includes:
£300m for research talent, including 1,000 PhD places for
STEM subjects
£270m for robots, driverless cars and biotech
£16m for a 5G mobile technology hub
£200m for fibre broadband
Science, 5G and robots
26. pkf-francisclark.co.ukpkf-francisclark.co.uk
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Corporation tax - losses
• New rules will increase flexibility for relieving corporate
tax losses
• Losses arising from 1 April 2017 can be carried forward
and offset against other income streams
• Losses can also be carried forward and group relieved
• Companies with profits > £5m – only 50% of profits in
excess of £5m can be relieved by losses brought
forward
27. pkf-francisclark.co.uk
Substantial shareholdings exemption
• SSE can apply to exempt gains on companies selling
shares (10%)
• Changes to SSE following consultation:
Removing investing company trading condition
Making it easier to sell shareholdings in multiple tranches
Removing post disposal investee trading condition
Broader exemption for companies owned by qualifying
institutional investors
28. pkf-francisclark.co.uk
Liquidations and entrepreneurs’ relief
• 10% tax rate possible on liquidating trading company
• Members’ voluntary liquidation (MVL)
• Now have targeted anti-avoidance rules to catch:
Money boxing
Phoenixism
• Are you carrying out a similar trade or activity within two
years?
• Those caught treated as receiving a dividend
29. pkf-francisclark.co.ukpkf-francisclark.co.uk
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Transactions in land
• Tightening of rules aimed at taxing gains on
development of land as trading income, not capital
• Previous rule – ‘sole or main object’ was to realise a
gain on disposal of land
• New rule – ‘main or one of main purposes’ is to realise
a gain
• Applies where other property (e.g. shares) derives
50+% of its value from land
• Impact on solar SPVs?
30. pkf-francisclark.co.ukpkf-francisclark.co.uk
.
Corporation tax – transactions in securities
The Government has confirmed that it will make no further
amendments to the legislation on company distributions at
this time, beyond the changes to the Transactions in
Securities anti-avoidance included in Finance Act 2016
31. pkf-francisclark.co.ukpkf-francisclark.co.uk
• ‘Nudge’ letters
• Increased HMRC data-collection powers
• Tougher sanctions for those in the hidden economy
• New fixed 30% VAT penalty for claiming input VAT which
the trader ‘knew or should have known’ was connected
with VAT fraud
No reductions for cooperation
Company officers may be personally liable
Liability engaged irrespective of the type of knowledge obtained
Anti-avoidance - onshore
32. pkf-francisclark.co.ukpkf-francisclark.co.uk
• Recent Press articles about ‘unfairness’ of self employed
paying ‘lower’ tax
• No recognition that they do not have any of the
employment protections enjoyed by employed workers
Maternity / paternity leave and pay
Holidays and holiday pay
Requirement for public liability / professional indemnity
insurances
• Government also considering incorporations – will there
eventually be a ‘look through’ to tax undistributed profits
of close companies at rates effectively equivalent to
income tax rates?
Employment vs self employment
33. pkf-francisclark.co.ukpkf-francisclark.co.uk
• IR35 aims to stop incorporation as way of achieving
PAYE/NIC advantage over directly employed individual
• From April 2017 – changes for those engaged by
public sector bodies apply when:
Worker personally performs services for end client
End client is public authority
If the contract had been directly with the end client the worker
would have been regarded as an employee
• Workers engaged in public sector via their own
‘personal service company’ will have their employment
status reviewed by public sector end client
IR35 public sector bodies
34. pkf-francisclark.co.ukpkf-francisclark.co.uk
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• Increase in business rates from April 2017 -
revaluation of the rating list
• “Increase in rural rate relief to 100%, giving small
businesses in rural areas a tax break worth up to
£2,900 a year” Chancellor of the Exchequer, November 2016
• Transitional provisions failing to ease burden, too
narrowly focused
• Rural businesses unfairly treated because insufficient
thought given to the impact on them. Need to review
rateable values, and dispute them with the VAO
Business rates
36. pkf-francisclark.co.ukpkf-francisclark.co.uk
• £435m for firms affected by increases in business rates
• £300m hardship fund for small businesses worst affected
will be allocated to local authorities for discretionary use in ‘hard
cases’
• Pubs with rateable value of less than £100,000 to get a
£1,000 a year discount on rates they pay
• Any business losing existing small business rates relief
will not pay more than £50 a month extra
Business rates announcements
38. pkf-francisclark.co.ukpkf-francisclark.co.uk
• With the introduction of the state second pension, the old
distinction between what was ‘purchased’ by contributory
benefits has disappeared
• NIC for the self-employed will rise by 1% (to 10%) from 6
April 2018, and
• By a further 1% (to 11%) on 6 April 2019
National insurance for the self-employed
39. pkf-francisclark.co.ukpkf-francisclark.co.uk
• The Chancellor’s response to the ‘small company’
problem has been to announce a decrease in the annual
dividend allowance
• From 6 April 2018, this will reduce from £5,000 a year to
£2,000 a year
• This will largely impact company directors/shareholders
and investors with portfolios worth over £50,000
Reduction in the dividend allowance
41. pkf-francisclark.co.uk
Wear and tear allowance
• 10% allowance scrapped
from April 2016
• Replacement furniture
relief
• FHLs retain capital
allowances
42. pkf-francisclark.co.uk
Financing costs – residential
• 100% financing cost deduction being phased out over a
number of years
• Replaced with a 20 % tax reducer
• Basic rate taxpayers, child benefit and personal allowance
impact
Tax Year Finance cost relief
2017/18 75% of finance costs deductible against rental income, 25% tax reducer
2018/19 50% of finance costs deductible against rental income, 50% tax reducer
2019/20 25% of finance costs deductible against rental income, 75% tax reducer
43. pkf-francisclark.co.uk
Financing costs – an example
2016/17 2020/21
Rental income £50,000 £50,000
General expenses -£10,000 -£10,000
Allowable interest -£20,000 -
Rental profit £20,000 £40,000
Tax at 40% £8,000 £16,000
Tax reducer at 20% - -£4,000
Tax payable on rental income £8,000 £12,000
44. pkf-francisclark.co.uk
Residence nil rate band
• When a residence is passed on death to a direct
descendant:
• Property must have been occupied by the deceased as their
main residence at some point during the period of
ownership
Tax year Rate of RNRB
2017/18 £100,000
2018/19 £125,000
2019/20 £150,000
2020/21 £175,000
45. pkf-francisclark.co.ukpkf-francisclark.co.uk
• Unused band is transferable between spouses –
potential for £1 million IHT free
• Tapered withdrawal of the nil rate band for
estates with a net value of more than £2 million
Residence nil rate band
46. pkf-francisclark.co.ukpkf-francisclark.co.uk
• Full finance cost relief
• Corporation tax rate 19% from 1 April, reducing to 17%
• Tax costs of setup – capital gains tax and stamp duty
land tax
• Reliefs may be available to mitigate tax costs
• Profit extraction
• Director’s loan account
Incorporation of rental business
47. pkf-francisclark.co.ukpkf-francisclark.co.uk
• 3% surcharge for additional residential property
purchase
• Also applies to any acquisition of residential
property by a company
• Commercial and mixed use properties are
unaffected – missed opportunities?
• Furnished holiday lets included
• Multiple dwellings relief
Stamp duty land tax
48. pkf-francisclark.co.ukpkf-francisclark.co.uk
SDLT - residential rates
Main
residence
Second
home
or buy to let
Up to £40,000 Zero
Zero*
Up to £125,000 Zero
3%
The next £125,000 (the portion from £125,001 to £250,000) 2%
5%
The next £675,000 (the portion from £250,001 to £925,000) 5%
8%
The next £575,000 (the portion from £925,001 to £1.5 million) 10%
13%
The remaining amount (the portion above £1.5 million) 12%
15%
51. pkf-francisclark.co.ukpkf-francisclark.co.uk
.
ISA limits from 6 April 2017
Reduction to tax free dividend allowance from April 2018
– increases benefit of ISA
• Cash and stocks & shares - £20,000 (2016/17 £15,240)
• Lifetime - £4,000 plus Government bonus 25%
• Help to buy - £1,200 in first month + £200pm thereafter plus
Government bonus of 25%
• Junior - £4,128 (2016/17 £4,080)
• Innovative finance - £20,000 (2016/17 £15,240)
52. pkf-francisclark.co.ukpkf-francisclark.co.uk
.
Focus on lifetime ISA
Alternative to pension?
• Dual purpose – save for first home and/or retirement
• 25% Government top up
• Open to 18-40 year olds (can continue to age 50)
• Access before age 60 results in loss of Government top up and
investment growth unless
Using funds to buy first property up to £450,000
Terminal illness
53. pkf-francisclark.co.ukpkf-francisclark.co.uk
.
Focus on junior ISA
Wealth transfer idea?
• Available from 0 to age 18 (becomes adult ISA at 18)
• Parents, grandparents, friends etc can contribute
• Using a calculator from Fidelity we can see that saving
£340 per month from birth to age 18 could produce a
fund of £101,322 assuming 5% annual growth
• An excellent way of transferring wealth down through
the generations with no tax consequences
• Could fund university fees or a property deposit
54. pkf-francisclark.co.ukpkf-francisclark.co.uk
.
Pension update
Key changes/considerations
Budget confirmed reduction of annual allowance to
£4,000 from 6 April 2017 if money purchase annual
allowance triggered
What triggers it?
• Uncrystallised pension fund lump sum (UFPLS)
• Flexible access drawdown (income taken), but not if
just tax free lump sum
• Exceeding the income cap in capped drawdown
55. pkf-francisclark.co.ukpkf-francisclark.co.uk
.
Pension update
• From 6 April 2016 tapered annual allowance applies if
‘adjusted income’ exceeds £150,000
• Lifetime allowance reduced to £1m
• Individual protection 2014 deadline is 5 April 2017 for
those who had pension funds valued at more than
£1.25m at 5 April 2014
• Pension scams – consultation closed in February,
feedback due later this spring
• Aiming to tackle cold calling
• Giving powers to schemes to refuse pension transfers
56. pkf-francisclark.co.ukpkf-francisclark.co.uk
.
Pension carry forward
• Carry forward still available from previous three tax
years
• Useful for those caught by tapered annual allowance
• Be aware that 2013/14 carry forward (£50,000) drops
away on 6 April 2017
• Can only carry forward if you had a registered pension
plan in place for the tax years used in carry forward
• No pension plan but may want to save in future? Start
one now to ensure full scope of carry forward is open
to you when you need it
57. pkf-francisclark.co.ukpkf-francisclark.co.uk
.
Non earners’ pension contributions
• Can contribute up to £3,600 per annum gross
• Net cost £2,880 per annum
• Tax relief each year of £720
• Can contribute for children
• Pension funds generally free of inheritance tax
• In a low interest rate environment, 25% instant uplift in
value is significant
• Wealth transfer opportunity, grandparents contributing
for grandchildren?
58. pkf-francisclark.co.ukpkf-francisclark.co.uk
Pension allowances restricted?
• Venture capital trusts
• High risk but with significant tax advantages
• HMRC approved
• £200,000 annual investment limit
• 30% up front tax rebate
• Tax free growth and dividends
• Must be held for five years to retain tax benefits
Alternative tax efficient investing
59. pkf-francisclark.co.uk
No responsibility can be accepted for any action taken as a result of information contained in this presentation. We therefore strongly
recommend that no action should be taken before obtaining detailed professional advice.
Past performance is not a guide to future returns and the value of investments and income from them may go down as well as up and an
investor may not get back the amount invested.
PKF Francis Clark Financial planning and wealth management is a trading name of Francis Clark Financial Planning Ltd which is authorised
and regulated by the Financial Conduct Authority. Registered Office: Sigma House, Oak View Close, Edginswell Park, Torquay TQ2 7FF.
Registered in England No. 05413603.
Francis Clark Financial Planning Ltd is a member firm of the PKF International Limited network of legally independent firms and does not
accept responsibility or liability for the actions or inactions on the part of any other individual member firm or firms.
Exeter | New Forest | Plymouth | Poole | Salisbury | Taunton | Torquay | Truro
Disclaimer & copyright
fcpp.co.uk
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(c) copyright PKF Francis Clark, 2017
You shall not copy, make available, retransmit, reproduce, sell, disseminate, separate, licence, distribute, store electronically, publish, broadcast or otherwise
circulate either within your business or for public or commercial purposes any of (or any part of) these materials and / or any services provided by PKF Francis
Clark in any format whatsoever unless you have obtained prior written consent from PKF Francis Clark to do so and entered into a licence.
To the maximum extent permitted by applicable law PKF Francis Clark excludes all representations, warranties and conditions (including, without limitation,
the conditions implied by law) in respect of these materials and /or any services provided by PKF Francis Clark.
These materials and /or any services provided by PKF Francis Clark are designed solely for the benefit of delegates of PKF Francis Clark.
The content of these materials and / or any services provided by PKF Francis Clark does not constitute advice and whilst PKF Francis Clark endeavours to
ensure that the materials and / or any services provided by PKF Francis Clark are correct, we do not warrant the completeness or accuracy of the materials
and /or any services provided by PKF Francis Clark; nor do we commit to ensuring that these materials and / or any services provided by PKF Francis Clark
are up-to-date or error or omission-free.
Where indicated, these materials are subject to Crown copyright protection. Re-use of any such Crown copyright-protected material is subject to current law
and related regulations on the re-use of Crown copyright extracts in England and Wales.
These materials and / or any services provided by PKF Francis Clark are subject to our terms and conditions of business as amended from time to time, a
copy of which is available on request.
Our liability is limited and to the maximum extent permitted under applicable law PKF Francis Clark will not be liable for any direct, indirect or consequential
loss or damage arising in connection with these materials and / or any services provided by PKF Francis Clark, whether arising in tort, contract, or otherwise,
including, without limitation, any loss of profit, contracts, business, goodwill, data, income or revenue. Please note however, that our liability for fraud, for
death or personal injury caused by our negligence, or for any other liability is not excluded or limited.
PKF Francis Clark is a trading name of Francis Clark LLP. Francis Clark LLP is a limited liability partnership, registered in England and Wales with registered
number OC349116. The registered office is Sigma House, Oak View Close, Edginswell Park, Torquay TQ2 7FF where a list of members is available for
inspection and at www.pkf-francisclark.co.uk. The term ‘Partner’ is used to refer to a member of Francis Clark LLP or to an employee. Registered to carry on
audit work in the UK and Ireland, regulated for a range of investment business activities and licensed to carry out reserved legal activity of non-contentious
probate in England and Wales by the Institute of Chartered Accountants in England and Wales. Partners acting as insolvency practitioners are licensed in the
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Editor's Notes
Part of our on-going commitment to progress and invest in our staff and acknowledging the experience and expertise they bring to the firm
So why cloud accounting?
Building upon the previous slide:
As the image shows, get away from the desktop. Mobile. Access anytime, anywhere.
And anyone. We advocate giving your accountant access = proactive advice.
Sharing servers = more processing = do more with it.
Machine learning: Artificial intelligence is like teaching a child,
Do it once, do it twice, then software remembers and recommends actions.
This cuts down input time, reduces errors and increases consistency.
APIs: Creating a joined up business solution.
Connect EPOS, stock, payment processing, CRM, etc. to accounting software.
And a bit about our software partners:
Platinum partners with Xero and QuickBooks.
These are the high street vendors aimed at the SME OMB market and cost c.£25 per month, before partner discounts.
Most people pay more for a telephone contract these days…
Exact sit in the space between these vendors and larger offerings like NetSuite and Oracle.
They have product sweet spots in manufacturing, wholesale & distribution and time & fees.
The average OMB is likely to see the owner doing the record keeping.
This could be at least an evening a week of their personal time,
Or during the day eating in to their chargeable or business development time.
By automating the input of bank transactions and invoices this allows you to focus your time on the business.
Then use that time to make business decisions based on real time data.
Either from a real time snapshot,
Or more detailed management accounts.
Let’s move on to a demo…
If you would like to know more…
Unfortunately Darren is currently away with Exact working on a joint plan for the next 12 months.