Press coverage UK200Group goal is to achieve regular press coverage in both the national and regional media. We have an excellent publishing record in the major broadsheet titles which inform and project the activities and developments of the Group to both the commercial and professional sector. As well as UK200Group articles, storylines can include individual member firm articles where they have a strong link to the Groups activities and are newsworthy at a national level. UK200Group in the news February 2010 Accounting and Business Returning investor confidence, a new SME valuation index and more M&A activity all suggest that the issue of shares by smaller companies will gather pace says Simon Blake, Chairman of UK200Groups corporate finance panel and partner at Price Bailey LLP. Growth rates can be staggering, and hands-on involvement advantageous explains Simon Blake. SMEs seeking investment, planning acquisitions and looking for incentives should look to the AIM and PLUS says Toni DeMartino, from Price Bailey LLP. This article appeared in the February 2010 edition of ABGlobal.com http://ab.digitaleditions.co.uk/febuk2010 Forum of Private Business E-newswire Small businesses were warned to beware of the PAYE Penalties trap for employers. Clare Munro, Tax Partner, Haslers and member of UK200Group Tax Panel says from April 2010, a new system of penalties for late payment of PAYE will mean that employers can no longer take a relaxed attitude to PAYE due dates as payments must be made on time in order to avoid incurring a penalty. Read full article published on 8 February 2010 FreshBusinessThinking.com Jonathan Russell, Vice-President UK200Group claimed start-up companies are missing out on the finance they need after new figures revealed the taxpayer-supported banks, Royal Bank of Scotland and Lloyds Banking Group, are failing to lend to SME businesses and homeowners. And whilst it was reasonable for the banks to refuse lending to non-viable businesses, the new businesses that should be the lifeblood of any recovery, and offer new opportunities for people who might otherwise be unemployed were in danger of being left behind. New Law Journal Solicitors should be on their guard and reduce the risk of fraud in their legal practices safeguarding their businesses and clients warns Mark Sharpley, Partner at Smailes Goldie and Chairman of UK200Legal Group. Those legal firms that are unprepared will be penalised, as shown in the recent case involving a £50m mortgage fraud progressing through the UK courts. SAIFInsight for Funeral Directors Tax reliefs for funeral businesses under the category plant and machinery can include company cars and horse-drawn hearses, explains David Panton, Tax Manager, Wilson Sandford Limited and member of UK200Group Tax Panel. Director of Finance online David Whiscombe, Director of Tax, BKL Tax and member of UK200Group of independent quality-assured accountancy firms and lawyer firms has criticised HMRC after it was revealed millions of taxpayers could lose up to £2,500 a year from their pay packets due to errors surrounding the introduction of a new computer system. David Whiscombe is a member of UK200Group tax panel. Read full article published on 10 February 2010 AccountancyAge.com - UK200Group tax expert tax expert witnesses HMRC overpayment fiasco David Whiscombe, member of UK200Group Tax Panel and director of taxes at BKL Tax says millions of taxpayers could lose up to £2,500 a year due to errors surrounding a new HMRC computer system. This indicates a very worrying lack of professional standards and testing. When taxpayers make mistakes HMRC look to exact penalties so what about penalising HMRC by providing automatic compensation for taxpayers affected by their mistake - or do penalties for careless errors only work one way? comments David Whiscombe. Read full article which appeared in Accountancy Age.com http://www.accountancyage.com/accountancyage/news/2257636/uk-200-group-slams-hmrc-tax Corporate Financier - Small and medium sized businesses may feel they are going round in circles to find funding, but they need to chase down all the options, says Simon Blake Chairman of UK200Groups corporate finance panel. Simon Blake, corporate finance partner, Price Bailey LLP explains the financing merry-go-round. January 2010 Costs Lawyer - Implications of VAT returning to the old 17.5% from 1 January 2010 and the circumstances in which lawyers can still charge clients at 15% were explained by Debra Dougal, VAT partner, Haslers and chairman of UK200Group tax panel. Anglia Business Lucentum Ltd, accountants and business advisers in Chelmsford join UK200Group and offer clients instant access to the expertise of over 110 quality assured accountants and lawyers in the UK and over 54 international associates around the globe. Accountancy magazine Reports UK200Group, a UK association of accountants and lawyers, has appointed Hillier Hopkins managing principal Colin Howe as group president. Business Advisers News BAD Conservative leader David Cameron's pledge to reduce the time it takes to set up a business in the UK has "missed the target" and does not address the more important issues associated with start ups, Colin Howe, president of the UK200Group has said. Read full article published on 19 January December 2009 Roofing Today - From 1 April 2010, all but the smallest businesses (annual turnover under £100,000) and all businesses registered after 1 February 2010 will be required to file VAT returns online reports Debra Dougal, VAT Partner, Haslers and member of UK200Group Tax Panel. Read full article published in the January edition of Roofing Today Roofing Today 50% tax rate and extension of loss relief to a 3 year period work were explained in this 2010 tax changes article by Chris Hobbs, Head of Tax, Crowther Beard LLP and member of UK200Group Tax Panel. Read full article published in the January edition of Roofing Today CA Magazine - With politicians meeting in Copenhagen in a bid to cut carbon emissions across the world, one likely outcome may be an increase in green taxes comments Marcus Ward, head of VAT, Price Bailey LLP and member of UK200Group Tax Panel. It was important to remember face environmental challenge to play as tax rises as there are a small number of products and services that attract a reduced rate of VAT, such as insulation, but lots of other items could also be taxed at a lower rate to encourage their use continued Marcus Ward. The article appeared on 16 December 2009. SAIFInsight Independent funeral directors were advised the responsibility for determining a workers's self employed tax status rests with the person who is the recipient of the service. The two types of worker where the tax status may be problematic are pall bearers and drivers, says Francis Whitbread, Partner, Edmund Carr LLP and member of UK200Group. FreshBusinessThinking.Com Last week's pre-budget report saw the government encourage greener behaviour by announcing tax breaks but also tax increases. Despite this, Marcus Ward, VAT director at Price Bailey LLP, member of UK200Group tax panel said there was an increasing acceptance by businesses green taxes could be legitimate. "A small number of products and services attract a reduced rate of VAT, such as insulation, but lots of other items could also be taxed at a lower rate to encourage their use, said Marcus Ward. Pre-Budget Report fails to tackle debt mountain - UK200Group article ran by: Lead story Accounting Web 10 December Fresh Business Thinking 10 December NE Business Finance news Debra Dougal, Chairman UK200Group Tax Panel and VAT partner, Haslers, provided some useful advice for businesses in the North East in a bad debt VAT Q&A article published online 9 December 2009. Business Credit Management UK Colin Howe, President of UK200Group commented on The Chancellor PBR saying "The real killer is the additional increase in NI. Public debt will not be reduced by increasing marginal rates of tax if the base activity on which that tax is applied is reducing. This increase hits every individual and every business. One small light for me was the announcement of a 500million growth Capital Fund for SMEs but like almost everything else in the PBR we have to wait until the New Year to see the detail of this." The Journal - the members magazine of the Law Society of Scotland. In her article on the pending increase in VAT Debra Dougal, Chairman of the UK200Group Tax Panel and VAT Partner at Haslers, points out how the changes will affect transactions which straddle the New Year, in particular the provision of legal services. Solicitors Journal - The forthcoming VAT rise from 15% to 17.5% may create difficulties for law firms, but it could also be used as an opportunity to boost cash flow, says Debra Dougal, VAT Partner, Haslers and Chairman of UK200Group Tax Panel. Read full article published by Solicitors Journal on 9 December 2009 FTWeekend Entrepreneur Mergers & acquisitions. Valuations of businesses have fallen, but not by as much as some people imagine and the time of snapping up ailing companies on the cheap is at an end commented Simon Blake, Chairman of UK200Group Corporate Finance Panel and partner with Price Bailey LLP. UK200Group has just launched its first index of deals purely in the SME sector, based on actual transactions data. It shows price/earnings multiples for small businesses have fallen far less than at bigger companies. Solicitors Journal Mark Lucas reviews the judgment on unauthorised borrowing charges, the break up of the big banks, the FSAs mortgage market review, BIS consultation on credit and store card terms, and the OFTs success in persuading the Builders Merchants Federation to amend its terms and conditions. Mark Lucas, is partner with Barlow Robbins and a member of UK200Group. This article was published by Solicitors Journal on 1 December 2009. Accountancy Age celebrating its 40th birthday asked the experts what the next 40 years hold for the profession. I believe there will still be big accountancy firms chasing larger clients, leaving smaller firms like UK200Group members to service owner managed businesses OMBs, says Colin Howe, president of UK200Group and managing principle, Hillier Hopkins LLP. Will OMBs still need an audit I hope not, continued Colin Howe, audits should only be compulsory for businesses with stakeholders outside of management. Article published on 3 December 2009. AccountingWeb It is just a year since the government rushed through a temporary reduction in the VAT to 15% which ends on 1 January 2010. Debra Dougal, VAT partner at Haslers and member of UK200Group Tax Panel offers a practical commentary on the VAT changes and pitfalls this presents for SME businesses in her article published on 2 December 2009. November 2009 Accountancy online People in the news UK200Group has appointed Colin Howe as group president. He will be taking over from Kevin Dickens. Stepping into Howe's former role as vice president will be Jonathan Russell. Howe is currently managing partner at Hillier Hopkins LLP. AccountingWeb-In business Under the Companies Act 2006, Scottish limited company charities with income less than £500,000 are no longer required to have their accounts audited and opt for less detailed scrutiny of independent examination. Beth Henderson, specialist charities team, Wylie & Bisset LLP and member of UK200Charities Group assesses the effects so far in her article published on 4 November 2009. CA Magazine - UK200GROUP launches valuation index to measure the value of SME businesses. Details of completed transactions are provided by the Groups corporate finance independent specialists from member firms of accountants and lawyers to facilitate comparisons not available from published data. The index includes deals valued up to £20m comprised 60 per cent trade sales and acquisitions and 40 per cent MBOs, BIMBOs and MBIs. Accountancy Age - UK200Group launches rival index to challenge BDO - A rival company valuation index better suited to measuring the value of SME businesses has been launched by Simon Blake, Chairman of UK200Group corporate finance panel and partner, Price Bailey LLP. We found over time valuations arrived at by available published data failed to match our own experience of M&As among smaller businesses and decided to make our own index, comments Simon Blake. The new index comes at a time when M&A market is showing signs of recovery. This announcement appeared in Accountancy Age on 27 November 2009. Watford & West Herts Chamber of Commerce Colin Howe, Managing Principal with accountancy firm Hillier Hopkins LLP elected President of the UK200Group. In these difficult economic times retention of members is as important as recruiting new ones, says Colin Howe and I would like to see all our member firms participating as fully as possible in the activities of the group. In this way we can ensure we remain the most active and vibrant national grouping of professionals in the UK. This announcement appeared in the Watford & West Herts CC on 24 November 2009. SAIFInsight Funeral Directors and VAT Independent funeral directors were reminded that whilst VAT might not be such a maze for their businesses as it is for some others, it is still not a simple tax. There are a number of points to note says Francis Whitbread, Partner, Edmund Carr LLP, Chelmsford and member of UK200Group. Read full article on VAT rules for funeral directors dealing with Burial, cremation and commemoration of the dead. This article was published in the November edition of SAIFInsight. PrimaryCare Today Online Finance News - Yet again GPs face further tax changes reducing their income when the Finance Act 2009 comes into force in April 2010. Rosemary Smith, senior healthcare manager, Whittingham Riddell LLP and member of UK200Healthcare group, explains how some of the changes will affect GPs. Read full article published 12 November 2009 by PrimaryCare Today. Accountancy Age how to cheat death with thorough record keeping Accountants face ugly and protracted court battles if their advice is brought into question following the death of a client. Kevin Dickens, past-President UK200Group, said it is essential for accounts to keep thorough records in case the advice given needs to be proved. Terry Jordan, IHT Tax Consultant, BKL Tax and member of UK200Group Tax Panel, comments that taxation is one, but not the only area which can lead to litigation after a clients death. The increasing litigious culture surrounding wills should put accountants on their guard. Read full article published by Accountancy Age on 18 November 2009 http://pdf.accountancyage.com/aa_fe_191109.pdf?id=0 PrimaryCare Today The working time (amendment) regulations 2009 which came into force on 1 August 2009 provide limited derogation for some junior doctors. Suki Harrar, Employment Law Partner, Wright Hassall LLP and member of UK200Group reports on how the new legislation will affect the weekly working time limit for junior doctors. Article published 12 November 2009 by PrimaryCare Today. AccountingWEB Under the Companies Act 2006 Scottish limited company charities with incoming resources less than £500,000 are no longer required to have their accounts audited. Instead they can opt for less detailed scrutiny of independent examination, explains Beth Henderson, Audit Senior within the specialist charities team of UK200Charities Group member Wylie and Bisset LLP. Read full article published on 4 November 2009 PrimaryBusiness Today Practice Managers of GP practices were strongly advised to be very aware of their responsibilities and liabilities and take good care of patient data in connection with online and offline records of patient data, under the DPA 1998. The Information Commissioner is seeking stronger penalties to enforce compliance with all data protection principles warned Laurie Heizler, Partner, Wright Hassall LLP solicitors and member of UK200Group. October 2009 Financial Director A new government, big spending buts and the end of fiscal stimulus could herald a tentative recovery. Kevin Dickens, President UK200Group firmly believes we are in a double-dip recession. Read his comments in this article on how the UK economic recovery is a slow and painful process. BetterBusiness Adviser Competitive banking and a shake-up of the banking sector can only be a good thing for small firms says Kevin Dickens, President UK200Group. BusinessCredit Management - News that troubled banking giants RBS and Lloyds Banking Group will have to sell off parts of their branch network to new players in the industry is welcomed by Kevin Dickens, senior partner at Howard Worth accountants and president of the UK200Group. Commenting that small business clients of member firms would benefit from new sources of lending, potentially offering better rates and improved customer service. Roofing Today Despite extensive changes to the CIS regime, HMRC is still unhappy the way construction workers are engaged and issued a further consultation document advising registration under the CIS is not confirmation of self employment for income tax and NI. Melanie Richardson, Roffe Swayne Accountants and member of UK200Group Property & Construction Committee states this consultation will have significant impact on the construction industry. Read full article published October 2009 HMRC changes to self employmentPractice Management Neil Carter, specialist healthcare accountant with Hillier Hopkins and member of UK200Healthcare Group warns practice managers that revised estimates on seniority payments rewarding GPs experience could result in claw back by PCOs directly from individual practices. This article appeared in the November edition of Practice Management. Practice Management Practice managers working in VAT registered GP practices were warned to expect more aggressive inspections in the future as the VAT rules are very complex and thus seen as a key target sector by HMRC. Practice managers involved in the VAT returns should be well prepared for an inspection and involve their accountant at all times, warns Debbie Wakefield, specialist healthcare accountant, Edmund Carr LLP and member of UK200Healthcare committee. Accountingweb.co.uk Tory spending cuts not brutal enough says Kevin Dickens, President UK200Group on Shadow chancellor George Osbornes recent announcement that the Conservatives would tackle the pension crisis by raising state pension age to 66 by 2016 and freeze public sector pay in order to cut spending. REUTERS UK One year on from the collapse of Lehman Brothers and the subsequent panic which spread throughout the financial system, small businesses are still finding it hard to access finance at a reasonable price from UKs major banks, says Paul Storer, director and head of corporate finance, Price Bailey LLP and member of UK200Group Corporate Finance Panel. BusinessNETWORK SME sized firms are increasingly aware of the importance of the environment but pressures of time and money delay making improvements according to research by UK200Group. Fresh business thinking.com - One year on from the collapse of Lehman Brothers and the subsequent panic which spread throughout the financial system, small businesses are still finding it hard to access finance at a reasonable price from UKs major banks, says Paul Storer, director and head of corporate finance, Price Bailey LLP and member of UK200Group Corporate Finance Panel. P3 Pharmacy Magazine pharmacies need to demonstrate action on patient confidentiality, meeting 18 specific markers in just a few months. Pharmacists need to be very aware of their responsibilities and liabilities for online and offline records of patient data and must demonstrate appropriate measures to ensure as far as possible loss or wrongful dissemination are unlikely to occur says Laurie Heizler, partner at Wright Hassall LLP solicitors and member of UK200Group. This news article was published in the November edition of P3 Magazine. Accounting & Business - accountants are increasingly finding themselves on the receiving end of threatening behaviour by clients, accountants more than ever need to be aware of good anger management techniques. Manipulative clients are also very dangerous especially in a recession where incidents of fraud can increase. Read full article with comments from UK200Group accountants Barry Lewis, Harris Lipman, David Ingall, JWPCreers, and Jonathan Russell, ReesRussell. SAIFInsight - Independent Funeral Directors were advised by Debra Dougal, Haslers member of UK200Group Tax Panel, from 1 April 2010 all but the smallest businesses (annual turnover under £100,000) and all businesses registered after 1 February 2010 will be required to file VAT returns online. This article was published in the October edition of SAIFInsight. September 2009 Architects Choice - importance of quick payment for contractors has led to the changes in the law explains Keith Thompson, partner at Vanderpump & Sykes Solicitors and Chairman UK200Property & Construction Group. Many in the construction industry believe a payment certificate is as good as cash this has never been true, the recent changes should address some of the perceived anomalies and abuses inherent in the way the law affected payment in the construction industry. SAIFInsight - Independent Funeral Directors were informed by Jo Haigh, MGR LLP and member of UK200Group corporate finance panel that in our current economic climate, its almost certainly a buyers market though in order to buy well you need a willing seller. And a fair deal can still be a bargain. This article was published in the September edition of SAIFInsight. Forum of Private Business Enewsletter Filing VAT returns online. The online filing system has been up and running for some time now, so there is no need to wait until 2010 explains Debra Dougal, VAT specialist at Haslers and member of UK200Group Tax Panel. Solicitors Journal Update:Consumer Mark Lucas, partner at Barlow Robbins LLP and member of UK200Group, examines the new consumer White Paper a better deal for consumers, the OFTs latest moves against Foxtons, and the recently proposed Personal Responsibility Bill in his article published by Solicitors Journal on 15 September 2009. Cambridge News ONLINE A survey by the Forum of Private Business and the UK200Group indicates green issues are taking a back seat as firms battle to keep up with employment issues and health and safety. Practice Management Practice managers of busy GP practices were warned to be very aware of their responsibilities and liabilities under the Data Protection Act 1998, in connection with online and offline records of patient data. Failure to comply with enforcement notice can result in a fine says Laurie Heizler partner with Wright Hassall LLP solicitors and member of UK200Group. This article was published in the September edition of Practice Management. FT Adviser.com Small businesses are more concerned about employment issues and health and safety than their environmental responsibilities, according to business research commissioned by the UK200Group. Accountancy Age Smaller accountancy firms, particularly those in UK200Group, are successfully competing against larger firms in what could be an emerging shake up of the audit industry. The recession has opened peoples eyes to the fact there is a viable alternative like UK200Group member firms, said Colin Howe, managing principle with Hillier Hopkins and Vice President, UK200Group. Practice Audit & Accounting - A mutual association like UK200Group provides an alternative to mergers and takeovers which are a way of life in the accountancy profession as firms seek strength and safety in numbers. Small and medium size accountancy firms do not need to sacrifice their independence, or the relationships they have built up with clients when they can join a professional quality assured association like UK200Group. August 2009 IET Knowledge network Key findings in a joint business survey by the UK200Group and Middlesex University show Britains SMEs ready to face environmental challenge as over 80 per cent of respondents agreed environmental issues should be a high priority. Liverpool Echo.co.uk A poll by the Forum of Private Business and the UK200Group warns employment issues hamper SMEs from pursuing eco-friendly initiatives. Fresh business thinkging.com Duncan Montgomery, tax partner at Whittingham Riddell LLP and member of UK200Group Tax Panel calms fears by stating alternative relief had been put in place so SME businesses not facing a £100m tax hike due to the early end of tax relief on business rates. Roofing Today Contractors have a right to payment says Keith Thompson, chairman, UK200 Property & Construction Group and head of the commercial department at Vanderpump & Sykes Solicitors. The importance of quick payments has become the subject of statutory attention for the construction industry. Forum of Private Business Enewsletter Claiming bad debt relief has always been an area of concern for many small business and the current economic climate makes it al the more so. Debra Dougal, VAT specialist at Haslers and member of UK200Group Tax Panel answers the most common VAT questions asked. Accounting Web Many UK businesses are neglecting efforts to be more environmentally friendly, according to research from the UK200Group and the University of Middlesex. Commenting on the joint business and environment survey, Kevin Dickens, UK20Group President said, continuing awareness and discussion about the issues must be encouraged. See full survey report. Accountancy Age Traditionally one of the most prosperous regions in the UK, Hertfordshire has been feeling the pinch. Colin Howe, Vice-President UK200Group and senior partner, Hillier Hopkins Watford and Hemel Hempstead, says it may take another 12-14 months before real improvements filter through. Other UK200Group regional members James Abbot partner at Baker Watkin in Stevenage; Mark Wilkins partner, Hardcastle Burton LLP, Royston; Andrew Hill, partner at Cartwrights, Barnet; Charles Olley, partner at Price Bailey LLP, Bishop Stortford and East Anglia, all comment recovery is slow, with the service sector performing better than manufacturing. Richard Dilley, partner at George hay, Letchworth says construction and motor accessory manufacturers are worst hit. Herts of the matter published by Accountancy Age on 6 August. July 2009 In practice - Small and medium sized accountancy practices in the market for good people can be very attractive as work tends to be more client focused with greater personal contact. Those joining from large firms enjoy a better work-life balance says Colin Howe, Managing Principal of Hillier Hopkins LLP and Vice President of UK200Group says smaller firms Greenwise While small and medium sized UK firms recognise the importance of environmentally responsible business practice, time and money constraints are preventing them from introducing green initiatives, according to a new business survey by UK200Group and the University of Middlesex. Greener Business* - SMEs delay green initiatives. Time and money constraints are preventing many SMEs from introducing green initiatives, according to a new business survey by UK200Group and the University of Middlesex. Fresh Business Thinking SMEs face green dilemma in the UK and are increasingly aware of the importance of the environment but pressures of time and money mean many are delaying making improvements, according to research published by the UK200Group. The organisation, which represents over 110 independent accountancy firms and lawyer firms, teamed up with the University of Middlesex to quiz 181 small and medium-sized businesses across a variety of sectors. New Law Journal Limited Liability Partnerships are a way of organising a business and can be beneficial to solicitors practices and partners. Mark Sharpley, partner at Smailes Goldie and Chairman of UK200Legal Group dispesls the myths of LLPs. This article was published in the New Law Journal on 31 July 2009 and is reproduced by kind permission. Practice Management All UK employers wishing to sponsor a migrant worker are now required to obtain a licence from the UK Border Agency. Marian Dixon, head of the business immigration team, Wright Hassall and member of UK200Group helps practice managers of GP surgeries understand the new and forthcoming rules covering migrant workers. This article was published in the July/August edition of Practice Management. Solicitors Journal The ruling in Orams will not just affect property owners in northern Cyprus it could have ramifications for buyers in other European countries with unsettled legal systems says David Foster, partner at Barlow Robbins Solicitors and member of UK200Group. This article was published in the 14 July edition of Solicitors Journal and is reproduced by kind permission. Forum of Private Business Newswire If you pay suppliers on behalf of your customers, and pass on the cost to your customers, you might be able to leave out these payments from your VAT calculation. It is the customer, who buys and receives the goods or services and known as a disbursement it can be very useful to know the VAT disbursement rules says Marcus Ward, VAT director at Price Bailey and member of UK200Group Tax Panel. SAIFInsight the magazine for independent funeral directors. Losses are rarely a good thing in business, but the one advantage they have is the likely return of tax. Maximising the amount and speed of reclaiming hard cash does involve knowing the rules says Duncan Montgomery, tax partner, Whittingham Riddell LLP and member of UK200Group Tax Panel. This article was published in the July issue of SAIFInsight, and is reproduced by kind permission. The Mail on Sunday Business Briefing, Enterprize Zone : Small firms are delaying making environmentally responsible decisions about their business due to the pressures of time and money. Research by accountancy and law organisation UK200Group found that while four our of five small businesses questioned believed environmental issues should be a high priority, 58 per cent had no environmental policy in place in their business. Issues such as reducing energy usage and costs and reducing waste fell behind more mainstream issues such as keeping skills and training up to date. Perhaps surprisingly, more than half of business owners agreed increased legislation was needed to ensure firms took steps to make their business more environmentally responsible. And 45 per cent believed green taxes were a good way to encourage environmental improvements. UK200Group teamed up with the University of Middlesex to quiz 181 small and medium-sized businesses across a variety of sectors, the full report can be viewed on .....  June 2009 Accountingweb Business Management zone The Conservative Party recently commissioned a report on how to reduce the regulatory burden on businesses during the financial crises. The report was written by David Arculus, a former government advisor on legislation. In this article, Kevin Dickens, President UK200Group, reflects on reports findings and the challenges that lay ahead for small business in the UK. Accountancy Age Online Regional focus: Northern highlights whilst Scarborough launches the 2009 Enterprising Britain competition, UK200Group accountancy members Paul Hodgson - Coulsons, Scarborough; David Ingal - JWPCreers, Selby, Yorkshire; and Paul Stephenson - Holeys, Harrogate; Richard Bailey - Barron & Barron, York discuss whether this lucky break will benefit the SME businesses in the region including B & Bs, retailers and service companies. New Law Journal - Charities Appeals Supplement The Financial Services Compensation Scheme has come under severe criticism from prominent charities following the collapse of Icelandic banks in 2008. Julie Whalley, Partner, Howard Worth Accountants & Business Advisors and members of UK200Charities Group, examines the FSCS and what it means for charities that have funds tied upc in troubled financial services firms. This article was published in the Charities Appeals Supplement Summer 2009, Lexis Nexis, and is reproduced by kind permission. New Law Journal - Charities Appeals Supplement A guide to the new fundraising regulations for charities was provided by Andy Malpass, Partner and Head of Charities, Whttingham Riddell LLP and member of UK200Charities committee. This article was published in the Charities Appeals Supplement Summer 2009, Lexis Nexis, and is reproduced by kind permission. Solicitors Journal - As the Office of Fair Trading tightens the regulatory noose on estate agents, Mark Lucas, partner, Barlow Robbins LLP and member of UK200Group of accountants and lawyers, warns practitioners in his article No uncertain terms- that with increasing scope for consumers to challenge contract terms, businesses must ensure that they are not exposed to claims of unfairness. This article was published in the Solicitors Journal 5 May 2009 and is reproduced by kind permission. SAIF When filling out tax returns mistakes can happen and to err is to be human but maybe not where HM Revenue & Customs is concerned. Clare Munro, Tax Partner, Haslers and member of UK200Group tax panel warns that where HMRC is concerned, discretion is consigned to history and replaced by a more rigid statutory system, the result will almost certainly be higher penalties. This article was published in the SAIFInsight June 2009. Forum of Private Business Enewsletter - There are plenty of myths about the tax rules on company cars, but believe them at your peril as getting it wrong could result in a costly investigation by HM Revenue & Customs. David Panton, tax manager, Wilson Sandford Limited and member of UK200Group Tax Panel busts some of the most common myths and lets you know when you really don't have to pay tax on a car benefit. http://www.fpb.org/hottips/435/Company_cars_–_a_game_of_pool.htm Practice Management Busy managers at GP surgeries were advised of tougher tax penalties from April 2009. Debbie Wakefield, healthcare specialist accountant, Edmund Carr LLP and member of UK200Healthcare Committee warned Practice Managers HMRC new rigid statutory system could result in higher penalties. This article was published in Practice Management June 2009. Accountancy Age The BERR has defended the performance of its £1.3bn for SMEs loan guarantee scheme against criticism from UK200Group of independent accountants that the application procedure was convoluted, their clients experience of the flagship scheme was patchy and banks are reluctant to lend using the EFG scheme. Read full article http://pdf.accountancyage.com/aa_fe_040609.pdf?id=0 May 2009 Roofing Today - Marion Dixon, partner and head of business immigration team at Wright Hassall LLP, members of UK200Group, discussed the new rules and points based system for employment of migrant workers. Accountancy Age Top 30 Accounting Networks and Associations global networks and associations fought hard against the economic downturn to maintain revenues during 2008 according to the Accountancy Age top 30 survey. UK200Group members have automatic membership of the international association IAPA which this year is ranked 23 in the Top 30 listing. UK200Group association of 110 member firms helped bolster the IAPA ranking in 2008. Full report on page 9 http://pdf.accountancyage.com/aa_fe_280509.pdf?id=0 Accountancy Age Banks stalling on SME loans scheme. Members of UK200Group confirm clients experience of the Governments Enterprise Finance Guarantee scheme is patchy. One member stated banks dont seem to know enough about them and they can be relatively expensive. Another member reported his client was refused a loan and because of stalling and stalling by the bank, a 35 year old company disappeared overnight. Full article on page 2 http://pdf.accountancyage.com/aa_fe_280509.pdf?id=0 The Press - Carried the announcement Stephen Headley, partner and head of agricultural practice at accountants JWP Creers, Selby, has been elected chairman of UK200Agricultural Group. Practice Management Busy practice managers of GP surgeries were able to read a report by UK200Group outlining tax increases and spending cuts of The Chancellors April 2009 Budget. Accountancy Age News - Under fire finance scheme lends £190m. Kevin Dickens, President UK200Group said there was anecdotal evidence of improved access to bank loans for SME businesses through the Governments EFGS. His experience of waiting 3 months for a decision on a loan application was too long. 3 months can be a lifetime for some small businesses, says Kevin Dickens. To read full article http://pdf.accountancyage.com/aa_fe_140509.pdf?id=0 Solicitors Journal: Consumer Update - Laurie Heizler, partner at Wright Hassall LLP and member of UK200Group considers the risks that online advertisers take with personal data and the privacy implications of behavioural advertising. This article was published in the Solicitors Journal 5 May 2009 and is reproduced by kind permission. April 2009 Agribusiness focus The key tax issues for farming and agricultural buisinesses The Chancellors Budget were commented on by John Thame, Agricultural Partner, Ellacotts accountants and business advisors. Written immediately following the Chancellors Budget presentation on 22 April 2009, John Thame, member of UK200Agricultural Committee says the finer points of the proposed changes in tax legislation will need further analysis in order to establish if there are significant proposals that did not get mentioned in the Chancellors speech. Accountingweb Financial Reporting zone On the Chancellors budget statement, Kevin Dickens, UK200Group president comments, I am disappointed that the Chancellor again failed to assist small and medium-sized businesses with the ever increasing burden of NI. Primary Business Today a report of UK200Healthcare Group survey of practice manager readers of PrimaryBusiness Today confirmed that accountants were the most popular choice of preferred business advisor. Healthcare accountants have an important role to play, the value of working with an experienced professional should never be under estimated, says Ann Tudor, specialist healthcare accountant, Whittingham Riddell LLP and member of UK200Healthcare Committee. Primary Business Today coping with the threat of competition for patients and managing patient expectations is a challenge facing practice managers of GP surgeries according to readers of this specialist journal for the healthcare sector. Ann Tudor, specialist healthcare accountant, Whittingham Riddell LLP and member of UK200Healthcare Committee says adopting some of the strategies of other professional service providers is going to be important to GP practices in commercial terms. Practice Management as reported to practice managers in this article, Debbie Wakefield, specialist healthcare accountant, Edmund Carr LLP and member of UK200Healthcare Committee, the right to establish social enterprises within the NHS in England was among the recommendations of Lord Darzis Next Stage Review of the NHS, published last year. GP practice managers were reminded any new business venture it is important strategic and financial planning are addressed. Forum of Private Business - subscribers to the FPBs eNewsletter were told to watch out for the tax penalty area! Most of us take care to get out tax returns right, but things can go wrong or get left out says Claire Munro, Haslers and member of UK200Group tax panel. Accountancy VAT inspections linked to BPSS. Kevin Dickens, UK200Group president said It has come to my attention, from very reliable sources, some businesses that have used the Business Payment Support Service BPSS have subsequently been notified of a random VAT inspection. Accountancy firms are becoming wary of advising clients to use the service unless absolutely necessary, he added. A spokesman for HMRC said the VAT inspections were purely coincidental. SAIFInsight What we need in the April budget, outlined to Independent Funeral Directors what they and other small business owners wanted the Chancellor to consider in the extra time he has given himself in presenting this years budget. The time has come to stop the talking and take some action so that businesses like Independent Funeral Directors can concentrate their efforts on what they do best not on what tax returns they have to make, says David Young, BKL Tax and Chairman UK200Group Tax Panel. Engineering & Technology Magazine - Management and Education section whats wrong with management education? tackled the challenges of training and retraining to reduce unemployment . In a recent CBI survey 37% of firms cut staff due to credit-related issues and a further 40% of large firms cut production. Credit crisis fears are growing and banks are turning down applications for government guaranteed credit. Kevin Dickens, president UK200Group states there may be agreement in principle at the top level between the Chancellor and bank directors, but the reality is far different. Our members report bank managers and credit teams refusing new loans and reducing existing arrangements With as many as a third of all business organisations currently planning to reduce their headcount over the next 12 months, the need for retraining is set to mushroom. March 2009 Business Credit Management UK More than a quarter of SME respondents to a UK200Group bank survey (27%) said offers of lending had been withdrawn or varied during the past six months. Kevin Dickens UK200Group president said with the spotlight focused firmly on the banking sector, our survey is another indicator banks need to tidy up their act and do a great deal better. Real Business Despite the governments assertions to the contrary, evidence is mounting that small business customers are being treated poorly by the UKs banks, according to the finds of a bank survey conducted by UK200Group. Kevin Dickens UK200Group president said with the spotlight focused firmly on the banking sector, our survey is another indicator banks need to tidy up their act and do a great deal better. Sports Insight the price is right, an article by Dave Howell on selling a business, Simon Blake, Corporate Finance Partner at Price Bailey LLP and Chairman of UK200Group Corporate Finance Panel says Plan ahead dont set your expectations too high, and dont put yourself under pressure to complete the deal. Give yourself the opportunity to say no rather than get forced into the wrong deal. Take professional advice from a corporate financier that sells businesses as his day job. Accountancy Age Regional Focus with the motoring industry hit hard, it's tough going for accountancy practices in the West Midlands according to UK200Group. The West Midlands has lost 112,000 manufacturing and engineering jobs in the last five years, largely due to competition from China and India. The automotive industry is the main local worry and a lot depends on the rescue package being worked by the UK Government and GM and Ford in Europe and Jaguar Land Rover bought by Tata Motors last year. Small shops are also having a tough time and many are standing empty, even supermarkets are struggling. The Government has promised a £64m boost to help the West Midlands economy. Regional UK200Group member Paul Jones, JW Hinks is finding mixed reactions from his clients to the global economic impact and Martin Smith, Dains LLP said, so far this year they have had twice as many administrations and liquidity cases as in the same period for 2008. I can see no movement by the banks despite all the talk in London. We hope banks can get themselves sorted out soon and start lending again, and the weaker pound could spurt the regions companies to step up exports, says Martin Smith. Full article Glum in Brum. Practice Management Practice Managers in busy GP practices were advised the Governments deadline to separate NHS healthcare commissioning from service provision takes a major step forward in April 2009. Simon Brook, specialist healthcare accountant with Price Bailey LLP and Chairman of UK200Healthcare Group said the change means existing providers such as district and community nursing services will have to choose what sort of organisation they will become under the Darzi review of six options. FT Entrepreneur Business Questions, Saturday 7 March When to send in the debt collectors? Colin Howe, Vice-President UK200Group explains what a small fashion retailing business across England can do when a major client is struggling to settle a bill causing them serious cashflow problems. Colin Howe, Vice-President UK200Group and Partner, Hillier Hopkins LLP says: Agree a payment profile, set up a standing order based on an agreed schedule. Prepare a short term cashflow to ensure any payment plan is sufficient to allow trade to continue. Consider delayed payment terms, but if this is not an option talk to your bank urgently about extending your overdraft facility to cover this (hopefully) short term blip. Read Colin Howe's Review Payment terms article. Accountancy Magazine In his letter to the editor on Audit Quality, Kevin Dickens President UK200Group says we would like to think that the Bernard Madoff scandal couldnt happen in the UK but can we really say that the standard of regulation and auditing is any better over here? After all, our megabanks have suffered well-publicised disasters and taxpayer bailouts seem almost to be the norm rather than the exception. When should the auditors have been flagging up the problems? Can the rest of the UKs practices afford to be relaxed? He doesnt think so for a whole host of reasons including public loss of confidence, professional indemnity premiums, and new legislation on networks. Read Kevin Dickens complete article on Audit Quality. February 2009 PrimaryBusinessToday Practice Managers in GP practices may be entering the worst financially challenging period they have ever faced in recent terms. This may be the first time since the start of the NHS that GPs have been exposed to such difficult financial pressures because pre 2004 versions of the practice contract provided a more protected financial environment says Ann Tudor, specialist healthcare accountant at Whittingham Riddell LLP and member of UK200 Healthcare Committee. GP practices should look carefully at their income, debts, pricing for services, planning, purchases, refinancing practice borrowing and retirements and Practice Managers are urged as never before by Ann Tudor to apply good business protocols and creative thinking to survive this economic crisis. Accountancy Age Access to bank loans under the government-sponsored Enterprises Guarantee scheme remains problematic for SMEs more than a month after ministers announced the credit line. Kevin Dickens, President of UK200Group and partner at Howard Worth Accountants and Business Advisors, Cheshire, reports that his enquiries of around 100 UK firms indicate generally a lack of information and preparedness by all the banks to make use of the EFGS funding. On one particular application for a client where £1m was requested under the scheme, the banks were reluctant to use the scheme and asked for personal guarantees to supplement the scheme a request that appears to undermine the purpose of the government-backed credit packages. Accountancy Age Kevin Dickens, PRESIDENT UK200Group (or [pdf]version) and partner at Howard Worth Accountants and Business Advisors, Cheshire plans to use his year at the helm to highlight the plight of small and medium-sized businesses across the UK. Whilst speaking to Accountancy Age he expressed his fury at the suffering UK SME companies are going through because of the mistakes made by the largest banks. About 99.9% of banks bad debt comes from macro-business rather than SMEs because they have been financed without guaranteed lending, says Kevin Dickens. Such is his concern about the banks current reluctance to lend to the SME market that UK200Group conducted a national banking survey to find out the problems on both sides of the fence in order to try and ease the pain for SMEs the client base for UK200Group member firms. The results of this survey are currently being analysed. With an international reach across nearly 30 countries and IAPA, our members clients can expand globally with confidence knowing they are using the services of a UK200Group quality assured accountant. Far from disheartened by the hardening economic conditions, he understands what it means for both UK200Groups members and their clients. Two of his firms clients are already seeking loans of £5m each and other are keen to tap into the governments small business loans guarantee scheme and the European Investment Bank funding. Clients, he says, havent run out of business ideas or the desire to keep their companies growing. Understanding the hardening economic conditions he knows what it means for both members and their clients, I will be a sounding board for firms so that we can find a solution within the Group citing a recent case which he referred to a member firm in Liverpool because of potential conflict of interest and knowing his client would get the best advice. The Group has been good for us as a practice and I would encourage any accountancy practice to join us, says Kevin Dickens, President UK200Group. Practice Management - Practice Managers working in busy GP surgeries and health clinics were advised by Ann Tudor, specialist medical accountant, Whittingham Riddell LLP and member of UK200 Healthcare Committee in her article how to make extended access work for you. Managing this cost effectively is a challenge, particularly when many practices are unconvinced of the patient need for greater availability of primary medical services says Ann Tudor. January 2009 Business7Online - UK200Group conducts an online survey to find out how serious the rift between clients and banks has become. Kevin Dickens, president UK200Group, admits clients are worried as facilities are withdrawn, charges rise and funds cut. There may be agreement in principle at the top level between the Chancellor and the Bank directors but the reality is far different, says Kevin Dickens. UK200Group of independent accountancy and lawyer firms act for hundreds of thousands of SME businesses and all member firms are reporting the same experiences. Forum of Private Business E-Newsletter - In the current economic climate, the focus of attention seems to fall mainly on struggling businesses. But not all businesses are suffering to the same degree. For those in a stronger position, now may be a good time to pick up the business of weaker rivals at a good price. If you do, then you may be able to take advantage of a fairly useful tax break as David Young, Chairman of UK200Group Tax Panel and tax consultant BKL Tax, London explains in his article - Acts of Good Will. Solicitors Journal Charity Supplement - The Charity Commission has been in close contact with the Office of the Scottish Charity Regulator OSCR during its latest assessment of the provision of public benefit. The Charity Commission has stated that the outcome of phase 1a of the OSCRs review in no way sets a precedent in England & Wales. Jenny Simpson, Partner and head of the specialist charity team at Wylie & Bisset LLP, Glasgow, member of the Scottish Charity Appeals Panel and UK200Group Charities Committee sheds light on the approach that was taken. This article was published in the Solicitors Journal Charities & Appeals Supplement (Jan 2009) and is reproduced by kind permission. The original can be found at www.solicitorsjournal.com Practical Audit & Accounting - in his opinion piece, Jonathan Russell, member of UK200Group Executive Committee and partner at ReesRussell accountants and business advisors, explains why rumours can move the markets and influence Government. UK200Group accountancy and lawyer firms represent small and medium sized businesses and Jonathan Russell confirms the view of members that SMEs have done OK over the past 10 years on the back of hard work, careful management and efficiency; they have not seen huge leaps in profitability. If it really is as it seems that more and more political decisions are a reaction to speculation rumours and reaction, we should be creating the rumours of the things we want to hear - that the economy is going to get better, taxes are going to be fairer, there will be less Government control and spending waste, says Jonathan Russell. Accountancy Age 29 January 2009 - Enterprise Finance Guarantee scheme engulfed by contradictory claims and confusion. Satisfaction has turned to frustration amid claims that the government failed to finalise details of its £1.3bn Enterprise Finance Guarantee scheme with the banks before announcing it. The EFG scheme, which underwrites 75% of bank loans to companies with a turnover up to £25m, is made available through banks but confusion threatens to delay lending just when small businesses need it most. Kevin Dickens, President of the UK200Group, which represents approximately 120 UK professional accountancy and legalmember firms who have many thousands of SME business clients, said some high-street banks did not know how to apply for the scheme. The infrastructure is lacking behind the grandiose statements and I have been trying to work with the banks to find out the details of the scheme confirmed Kevin Dickens, and added that banks had told him that EFG packages would not be available until the end of February 2009. New Law Journal - There is little doubt that smaller legal practices will be faced with critical decisions in the coming months and taking advice on structure, finance and longer term planning will be crucial explains Mark Sharpley, Partner, Smailes Goldie Accountants and Business Advisors and Chairman of UK200 Legal Group. Law firms more than ever need to look at how to make their affairs and run their business more tax efficient, particularly in line with practice profitability, profit sharing arrangements charging structure, billing quickly and cash flow - legal business survival guide for 2009 which Mark Sharpley gives to his solicitor clients. Accountancy Age - SMEs' credit still frozen amid confusion over government guarantees - SMEs are struggling to access credit despite the government's enterprise finance guarantee announced last week that they will underwrite 75% of bank loans made to companies with a £25m turnover. Kevin Dickens, president of UK200Group said high street banks were unaware how to apply for the £1.3m fund for guaranteeing loans to small businesses and do not seem to have the money, the method to lend or knowledge of the schemes. Kevin Dickens has been trying to work with banks to find out the details of the scheme which now may not be available until the end of February 2009. SAIF Insight - Help is at hand from small, medium sized and owner managed businesses says Kevin Dickens, Senior Partner at Howard Worth, Northwich and President of UK200Group. Although the Government is taking note that investing in SME family businesses is the most effective means of helping the UK economy to go forward, it is imperative these businesses monitor cash flow to ensure they dont give the bank any chance to worsen their charging structure. Independent Funeral Directors were urged to use products like UKGroup's financial health check which can help develop realistic strategic planning and budgets. Practice Management - In the January 2009 edition of this professional magazine for Practice Managers of GP surgeries, David Young, Chairman of UK200 Group Tax Panel and tax consultant BKL Tax explained that once again the Chancellor had worked his magic in drawing your eyes to his glittering prizes with one hand which picking your pocket with the other in the pre-budget report 2008. Read more on Tax magic and headaches. December 2008 SAIF Insight - David Ingall, Managing Partner at JWP Creers, Yorkshire and immediate past President UK200Group reminded Independent Funeral Directors that the market has seen events in recent months which contrast starkly with the past 16 years waves of uncertainty for almost the first time in a generation. Practice Management - research into how well primary care trusts and hospices work together will be used to help improve the way the Compact the agreement with Englands voluntary and community sectors is implemented. Simon Brook, medical specialist business advisor and Chairman of UK200 Healthcare Group tells Practice Managers adopting good business practice will help to absorb any potential increased workload in meeting practice requirements of Compact. November 2008 Solicitors Journal - Keith Thompson, chairman of UK200 Property & Construction Group and partner at Vanderpump & Sykes Solicitors discusses letters of intent and identifies key steps that construction practitioners can follow to avoid potential pitfalls. Best Practice UK200Group continues with its regional economic reports with Liverpool resurgent. The Groups accountancy and lawyer members work with clients in the SME sector and use their experience to show how Liverpools prospects compare to the rest of the UK and say that the European Capital of Culture is banking on investment and tourism. New Law Journal - wiith lawyers facing big changes in their businesses, Mark Sharpley Chairman Uk200 Legal Group and Partner, Smailes Goldie, Hull, urges them to look outside the box at the challenges and opportunities offered to them in attracting external capital. With the right professional help and planning, lawyer firms, no matter what size, can benefit from the Legal Services Act and attract external capital funding to build successfully for the future, says Mark Sharpley. SAIFInsight - David Ingall, President UK200Group and Managing Partner at JWP Creers, explains to independent funeral directors why Home Responsibility Protection (HRP) is helping women reaching the age of 60 or over receives a state pension if they were in receipt of child benefit after April 6, 1978. There are some complicated adjustments which must be made, however, if all applications for HRP are supported by a fairy godmother like the tax manager at JWP Creers, those eligible to receive a pension will do so. Solicitors Journal - As grim predictions circulate of vastly reduced consumer spending, rocketing prices and manufacturers folding, Jenny Howe, solicitor at UK200Group firm Vanderpump & Sykes, considers the planned simplification of consumer legislation, the first case under the Unfair Trading Regulations, doorstep selling and price comparison websites. Solicitors Journal - Philip Harris, solicitor at UK200Group firm Wright Hassall reviews recent construction legal cases on economic duress, expert determination and withholding notices, and sheds light on the Construction Contracts Bill. October 2008 Agribusiness Focus - Richard Barnett, Chairman of UK200 Agricultural Group and Specialist Agricultural Partner, Howard Worth Accountants and Business Advisors, Nantwich, examines the question are there any remaining tax benefits of incorporation and whether its right to convert agricultural business to a limited company? Agribusiness Focus is published by Clydesdale Bank. Accounting web - The banks or our clients? Nick Forsyth partner in Lambert Chapman LLP and UK200Group member reviews the situation - Where do our priorities lie? Financial Times In the Entrepreneur Business Questions sections of the Financial Times, David Young, Tax Consultant BKL Tax, London and Chairman of UK200 Tax Panel responds to a question on Capital Gains Tax by telling readers clever tax planning always seems a good idea until it goes wrong and that there are few ways to avoid paying the tax. David Youngs comments on CGT Q&A 'have I been hobbled by tax planning?' Practice Management - Practice Managers of GP surgeries were told to be prepared for the effects of new flexible working laws coming into effect from April 2009. GP surgeries like all businesses across the UK should be aware of Government public consultation on ways in which to raise awareness that parents with children under the age of 16 will have the right to request flexible working patterns. Christine Goodyear, head of business services group, Barlow Robbins - Solicitors and member of UK200 Healthcare Group says: practice managers should be aware of the changes in the law and prepare themselves for April 2009. Many GP practices may find it extremely disruptive and expensive. SAIFInsight - The fiinancial news is deeply worrying, but is the London based media and City institutions and corporates over-reacting? Independent Funeral Directors like all small & medium sized businesses cant ignore warnings of the BCC recovery from the recession will not happen before 2010. Many of UK200Group members across the regions confirm there is a general slow-down, but not as bad as the press makes out. Ambitious Independent Funeral Directors and SMEs wanting to expand can make acquisitions and although risk capital is harder to find, banks are still in business to do business. We are finding many SME clients with long-established businesses are generally able to ride out current conditions. Now is a time to be looking for opportunities to expand when others are cutting back and failing to deliver says Kevin Dickens, Deputy President UK200Group and senior partner of Howard Worth, Chartered Accountants in Cheshire. September 2008 Business Money - UK200Group President David Ingall looks back over the associations 22 year history and how it has positioned itself as a global competitor. David Ingall is one of the original members of the Group and is Managing Partner at JWPCreers, York. Accounting Web - blogs - With recent failures of XL Travel and Zoom Jonathan Russell, member of UK200Group Executive questions whether some business models or practices are reasonable and why we should have to rely on some third party taking the hit. The problem is Government talks about bonding and compensation funds to which all companies will contribute which just penalises those companies which are well managed and well financed. The time has come for the protection to be skewed back in favour of the consumer, with management and their funders taking responsibility for the funds they hold in advance of supply, says Jonathan Russell, Managing Partner ReesRussell, Whitney. Accounting Web - Practice Zone - Stop making with the negative vices the credit crunch is a good thing, says Jonathan Russell, member of UK200Group Executive. Its commonly held that our present economic trouble has come on the back of an economic boom caused by consumer spending, mainly on the back of borrowing related to the strength of escalating property values. In contrast, small & medium sized business have on balance done OK over the past 10 years, most SMEs have grown only due to hard work, careful management and efficiency they have not seen huge leaps in profitability, comments Jonathan Russell, Managing Partner ReesRussell, Whitney. Accountancy Age Best Practice - Accountancy Age magazine for business advisers ran a regional focus on business confidence around the UK to find out if the credit crunch, so far at least, is fuelling more questions than answers. Regions to be cheerful as presented by UK200Group provides useful insight and indices. UK200Group members clearly identified what economic and financial issues affected them and their clients, and reported the confidence indices of their particular region. As summed up by Jonathan Russell, partner of ReesRussell LLP and member of the Group's Executive Committee - 'Clients are looking at cost bases and there is already a squeeze on fees for compliance work. This moves clients to unqualified accountants without the controls and training, who operate on price. Clients are also seeing an increasing number of bad debts - mostly from larger businesses'. New Law Journal - a new legal landscape beckons, Lawrence Bailey, Corporate Finance Director, Price Bailey LLP Accountants & Business Advisors, Bishop Stortford, says solicitors and practitioners in smaller firms can thrive in a changing legal market if they have an appetite for consolidation and expansion and a robust business plan. UK200Group Corporate Finance Panel member Lawrence Bailey tells solicitors to leave the ego at home and be prepared to compromise on some minor points in the negotiation. Practice Management - With pressure on incomes and increasing competition from private organisations, there are likely to be difficult times ahead for many GP practices says Michael Penn, Medical Business Consultant, Hillier Hopkins, Watford and member of UK200 Healthcare Group. Increasing costs and no increase in income show average profit reductions of around eight per cent for 2007/08 this trend is likely to continue into 2008/09. As income is squeezed and costs rise, so profits are expected to further reduce. Michael Penn reminds Practice Managers of GP surgeries that they need to run their medical practice like a businessr. The highest earners in the future will be those practices that have the right structures, roles, services, technology, people and premises. SAIFInsight - As the credit crunch continues to affect the economy, Independent Funeral Directors were advised by David Ingall, President UK200Group and Managing Partner JWP Creers Accountants, York, if at all possible to build up cash reserves, do deals with suppliers, agree beneficial credit terms and pursue debtors firmly but fairly. August 2008 Primary Business Today Practice Managers of GP surgeries were updated on the changes in the tax allowances on capital purchases allowances on capital purchases from April 2008. Ann Tudor, member of UK200 Healthcare Committee and healthcare specialist accountant at Whittingham Riddell, Shrewsbury explains the main changes to the capital allowances rules that practice managers need to be aware of for assets purchased pre and post April 2008. Quill-Pinpoint Newsletter - Solicitors can unlock their firm's profit potential says Andrew Hague, member of UK200 Legal Committee and specialist legal accountant and business advisor, Howard Worth, Cheshire. Solicitors attending a UK200 Legal Group profit improvement workshop© will benefit from group benchmarking, best practice and business planning solutions which will help build a successful practice and unlock profits. Accountancy Age - the registration of audit firms has continued on a downward trend in the number of registered firms. Accountancy bodies, such as UK200Group, are aware of the decline and willing to help the Professional Oversight Board look for a solution. David Ingall, President of UK200Group and Managing Partner, JWPCreers, Yorkshire, says the Group of 120 independent firms of accountants has begun to address the issues head-on because we recognise if firms have only five or six clients, it may not be worth the pain of getting the audit registration. It's dependent on the audit threshold - if any of our clients decide to do a flotation and don't have the experience, we don't stop working on their audit, but rather refer them to our Group where there is someone with the expertise who can help. The days of firms being able to rely on one large client, which would account for 30-40% of fees, are pretty much over, says David Ingall. SAIFInsight - Funeral directors were alerted to the dangers of email fraud. In his article 'Gone Phishing' David Ingall, President UK200Group and Managing Partner, JWPCreers Accountants, York, advises CEOs and managers of independent funeral companies to watch out for bogus emails supposedly sent by banks, building societies even HMRC that ask for personal details of bank accounts, passwords and pin numbers. David warns if you reply you will loose money. The Mail on Sunday - Accordng to David Ingall, President of UK200Group and Managing Partner at JWPCreers, many small business owners are drawn to larger audit firms because of the appeal of the iniversally recognised brand and the assumption that they must offer a better service than local outfits. In this article David warns SMEs of some of the drawbacks for those who choose the 'big four'. New Law Journal - Solicitors cannot afford to ignore risks when renewing PI premiums. They should take their brokers advice and deal with risk management issues now, warns David Ingall, President UK200Group and Managing Partner at UK200Group firm JWP Creers, York. The loss on a claim is not simply the settlement, it is the investigation, defence and internal agonising over how and why the event ever happened. Quality assurance evidence that management risk procedures have been put in place - will be a requirement for the future. UK200Group accountancy members undergo quality assurance reviews every year. We know how important quality assurance is within the accountancy profession and how important this will be in the legal profession. Our work with Lockton puts us in the ideal position to help help solicitor firms with best practice procedures confirms David Ingall. July 2008 Practice Management Practice managers who run GP practices as efficient and effective business structures can achieve profitable long term success says Simon Brook, Chairman UK200 Healthcare Group and medical specialist business advisor, Price Bailey LLP, Bishop Stortford. In the current uncertain economic climate is it not just simply down to cost control or raising productivity. It requires practice managers to focus on essential business disciplines. Primary Business Today - Medical practice structures - What are your options? Most medical practices run as partnerships. However increasingly alternative business structures are being looked at by doctors and their advisors. Ann Tudor, who is a specialist medical accountant, partner in Whittingham Riddell and member of the UK200Group Healthcare Trade Groups, looks at options for practice managers in this article. SAIF surviving the credit crunch is the cry we hear from businesses and individuals all over the UK. Kevin Dickens, deputy president of UK200Group and senior partner at Howard Worth, Chartered Accountants, Cheshire gives independent funeral directors some sound, factual survival techniques to help their businesses deal effectively with this current crisis. June 2008 AccountancyAge - David Ingall, UK200Group President and Managing Partner at JWPCreers, following the demise of Wenham Major hiighlights the need for controlled growth. Solicitors Journal - David Farnborough, Head of Conveyancing, Vanderpump & Sykes Solicitors, London and member of UK200Group Property & Construction group explains why property professionals in England and Wales are still struggling to come to terms with the new system of Home Information Packs due to the lack of uniform approach. The reaction from solicitors has not been overwhelmingly positive due to the piecemeal nature of its introduction into the conveyancing system. Solicitors Journal Consumer Supplement - After a setback in its price-fixing case against supermarkets and a temporary victory in the bank charges, is the Office of Fair Trading really the people's champion really the people's champion, asks Jenny Howe, Solicitor in the Litigation Department of Vanderpump & Sykes, London and member of UK200 Property & Construction group. PrimaryCare Today - Simon Brook, Chairman UK200 Healthcare Group and specialist healthcare accountant, Price Bailey LLP, Bishop Stortford, explains to GPs the numerous recent changes to pension rules concerning contributions and benefit limits. Read more at http://primarycaretoday.co.uk/finance New Law Journal - Legal indemnity insurance is a compulsory requirement of practising as a solicitor and now is the time to review renewals and risk management procedures. Paying less for professional indemnity insurance is within every solicitor's grasp says David Ingall, President UK200Group and Managing Partner at UK200Group firm JWPCreers, York. SAIFinsight - in this issue David Ingall, Managing Partner at JWPCreers, Yorkshire and President of the UK200Group says it is time to put all taxes under review and argues the requirement for major change. May 2008 Practice Management GP practices should make their computer systems work for them by looking at the internal working processes to achieve maximum profit from existing services says Ann Tudor, member of UK200 Healthcare Committee. Regular IT reviews will highlight areas where systems could work more effectively and put to better use explains Ann Tudor, specialist healthcare accountant, Whittingham Riddell, Shropshire. AccountingWeb - The 10% tax band buy-off - Jonathan Russell, UK200Group Executive member and partner in ReesRussell LLP, Witney, explore this issue and the possible options available to the Government to address this in future years. PrimaryCare Today - Simon Brook, Chairman UK200 Healthcare Group comments that to achieve profitability and long-term success, GP practices need to be managed efficiently and effectively. Obtaining the desired level of effectiveness is not simply down to cost control and raising productivity says Simon Brook, specialist healthcare accountant, Price Bailey LLP, Bishop Stortford. Read more at http://primarycaretoday.co.uk/finance Practice Management - The Government is promised a cash boost for primary care trusts, reports Simon Brook, Chairman of UK200 Healthcare Group and specialist medical accountant at Price Bailey, but will PCTs feel the pinch? Commercial Property - Keith Thompson partner of Vanderpump & Sykes Solicitors and Chairman of the Uk200Group Property & Construction Group, in this issue highlights the necessity of Energy Performance Certificates [EPCs] under the heading - An expert guide to commercial property. SAIFInsight - In this issue David Ingall, Managing Partner at JWPCreers Accountants and Business Advisors and President of the UK200Group states that it is a thankless and probably fruitless exercise to try to second guess a Chancellor, but with his Autumn Statement and Budget out of the way and the economic climate getting distinctly chillier, David says it is worthwhile at least considering What does the future hold? April 2008 Accountancy - in a recent survey by the UK200Group clients only rate high fees as the third most important reason for switching accountants behind poor advice (86.8%) and lack of personal contact (65.8%). David Ingall, president of the group, said the results showed that once companies find an accountant they are happy with they will stick with them. SAIFInsight - David Ingall, UK200Group President and Managing Partner at JWPCreers Accountants and Business Advisors in Yorkshire, writes about the advantages to be gained from using the professional services of a UK200Group member - It's Cold Outside. March 2008 Solicitors Journal - Mark Sharpley legal group chairman and partner at Smailes Goldie, Hull, writes about the Dormant Accounts Bill the government is hoping to pass allowing cash lying dormant in unused accounts to be donated to good causes. Putting aside for a rainy day - and then forgetting about it - seems to be something of a multibillion-pound habit in the UK. Primary Business Today (WMS) - Following her article last month Ann Tudor, Specialist Medical Accountant at UK200Group member firm Whittingham Riddell answers further questions on the changes to the NHS Pension Scheme with effect from 1 April 2008. SAIFInsight - David Whiscombe member of UK200Group Tax Panel and Director of Tax at member firm Berg Kaprow Lewis writes that the key element in our tax system is missing and that in recent months the Chancellor Alistair Darling has signally failed to deliver certainty in three key areas of tax policy. February 2008 PrimaryCare Today - Michael Penn, specialist healthcare accountant at UK200Group member firm Hillier Hopkins LLP, Watford, warns GPs that with rumours of an income freeze for the third year running and increasing competition from private organisations, there are likely to be dificult times ahead for their practices. Increasing costs and no increase in income are showing average profit reductions of around 8% for the current year. Read more at http://primarycaretoday.co.uk/finance Practice Management - Financial changes are afoot and practice managers need to be on top of them, advises Ann Tudor specialist medical accountants at Whittingham Riddell and member of UK200 Healthcare Group. GPs' annual superannuation contributions will increase from April 2008 - employee contributions will be tiered and linked to levels of full-time equivalent earnings. Accountancy - announces the election of David Ingall as President of the UK200Group. David is the Managing Partner of accountancy firm JWPCreers. Primary Business Today [WMS] - Ann Tudor a principal with Whittingham Riddell LLP and member of UK200 Group Healthcare answers questions on NHS Superannuation Scheme Changes which are introduced from 1 April 2008. SAIFInsight - David Ingall, UK200Group President and Managing Partner of JWPCreers Accountants explores the question - What is the point of Budgeting and Forecasting? January 2008 PrimaryCare Today - David Ingall, President UK200Group explains some oddities and dangers of tax. There are so many bits and pieces of tax and associated legislation that it is impossible to know everything says David Ingall, Managing Partner at UK200Group member firm JWPCreers, specialist healthcare accountants, York. Read more at http://primarycaretoday.co.uk/finance Taxation.co.uk - following comments by the Director General GBI and Policy representative at Forum of Private Business on the Chancellor's announcement regarding Capital Gains Tax concessions, Mike Dawes, Tax Partner at UK200Group firm TWP wrote "Certainty is fundamental to an efficient taxation system, and the Chancellor's dithering has not been helpful. The belated Christmas present is welcome news for small entrepreneurs who may need up to a couple of years to sell their businesses. It will be important to see the details; for example, will crystallised deferred gains on redemption of QCBs be taxed at the lower rate?" David Young, chairman of the UK200Group Tax Panel wrote "This is a knee-jerk patchwork solution to a blindingly obvious problem that should have been thought through before the proposals were tabled. Perhaps our terminally-ill tax code could be given a life saving drip if occasionally the Treasury spoke to tax professionals both inside and outside HMRC before it tabled a proposal rather than afterwards." Primary Business Today - Tax Returns and Superannuation Questions and Answers - Ann Tudor, principal at Whittingham Riddell LLP and member of UK200 Healthcare Group covers these issues for the healthcare industry. SAIFInsight - Jonathan Russell, UK200Group Executive member and partner in ReesRussell, writes about The Health of the Nation, something which worries many. Firstly there is the physical health of individuals and secondly the financial health of the nation. December 2007 AgribusinessFocus - Jonathan Russell, UK200Group Executive member and partner in ReesRussell, underlines the pitfalls of passing on the family farm to the next generation. businesszone.co.uk - David Ingall, UK200Group President writes on the money matters blog. Whether you are just beginning a new venture, in the throes of running your business or nearing retirement age, the time has come for you to think about selling up. It is never too early to consider your exist strategy. Your Witness - in the same way that many lay people do not recognise the various expertise among lawyers, many lawyers do not understand the work that accountants do or, more importantly, how expert accountants might help. Under the heading - Why use an accountant expert? Jonathan Russell sets out some of the areas for consideration. Financial Director - On the final page of an article by Peter Bartram, 'Another year bolder', Jonathan Russell, UK200Group Executive and partner in ReesRussell, is quoted as arguing that more focus on the green agenda could encourage a swing back to sourcing goods and services closer to home. November 2007 Solicitors Journal - David Ingall says all professional firms suffer from the perennial problem of having clients who will not settle their fees - bad debtors are an occupational hazard. businesszone.co.uk - as a result of banks moving small businesses into the retail banking sector, Jonathan Russell, partner in UK200Group member firm ReesRussell says facilities are very difficult for the new business. Small businesses are our future lifeblood and banks and government need to understand that these businesses need the fertile ground on which to start up. SAIFInsight - Death and taxes - Jonathan Russell, partner at ReesRussell, Witney and UK200Group Executive member, writes about the difficulties - How do we plan? Solicitors Journal - Taxing divorce - David Young chairman of UK200Group tax panel and associate tax director of Berg Kaprow Lewis LLP says that tax issues can compound the stress of a divorce, but careful planning can help minimise losses for both parties. Primary Care Today - there have been numerous changes to pension rules recently in particular the virtual rewriting of the rules concerning contributions and benefit limits. This was called Pensions Simplification, but simple is not a concept usually associated with pensions. Simon Brook, Partner and medical practice specialist Price Bailey and committee member of UK200 Healthcare Group offers a little food for thought for those thinking about their own pension provision. In practice he says the rules for most people are fairly straightforward. Practice Management - financial planning is a core part of a practice manager's job write AnnTudor. GPs and practice managers are more concerned than ever about the cash flow pressure in their practices and referring persistently poor payers to solicitors or taking Court action should be seriously considered. Primary Business Today - Ann Tudor a principal with Whittingham Riddell LLP and member of UK200 Group Healthcare helps Practice Managers resolve some business problems via Q & As surrounding key dates in the Self-Assessment Tax System businesszone.co.uk - Money matters blog - David Young associate director of BKL and Chairman of the UK200Group tax panel gives case examples in connection with the sweeping changes to capital gains tax in the pre-budget report. SAIF - Have you done your tax return yet? Jonathan Russell, UK200Group President and partner in ReesRussell LLP, advises on preparing for the January tax return - whether using an accountant or doing it yourself. October 2007 Business Network - article on our annual conference being held in Bristol in November. Best Practice - Laurie Heizler, a partner with UK200Group lawyer member Wright Hassall LLP explains as changes to the trade mark examination process come into effect how to protect intellectual property Best Practice - Jonathan Russell, senior partner at ReesRussell and President of UK200Group, invesitages how the current turmoil in the banking market affected SMEs' ability to secure loans? Financial Times - In an article 'Communication can be taxing', David Young, tax partner at BKL and Chairman of UK200Group tax panel, points out that tax has moral and policital overtones, as well as economic ones. Solicitors Journal - an imprecise science, Simon Blake, corporate finance partner at Haslers and chairman of the UK200Group Corporate Finance Panel, says valuing a business correctly may be a challenge, but there are standard methods that can help simplify the process. UK200Group Corporate Finance Panel promote the services of their members Business Network - Leon du Plooy, IT Manager at UK200Group member firm Ellacotts LLP based in Banbury, says using a firm of accountants offering IT services can save you money as they will be less likely to oversell a product or supply an unnecessary product. David Young, partner in BKL LLP in London and chairman of UK200Group Tax Panel writes about some of the advantages that can be gained from advance tax planning and Nick Mayhew, partner in Price Bailey LLP in Hertfordshire and chairman of UK200Group Business Strategy Panel says to routinely think and act strategically, rather than tactically, dues not involve the necessity of a weekend retreat in order to discuss the bigger picture. SAIF - Part Three - Exit Strategies - David Ingall managing partner at JWP Creers, Yorkshire and vice-president of UK200Group continues by covering the areas that need to be considered when identifying the potential purchaser. September 2007 Practice Management - Looking further afield - Ann Tudor member of the Healthcare Trade Group and partner at Whittingham Riddell discusses the wider context for planning the delivery of new services in general practice. SAIF - David Ingall, continues his article on Exit Strategies - Part Two - David writes "like most things in life a little planning pays off many fold and I wish you well." August 2007 In House Executive Summer 2007 - David Whiscombe, UK200Group Tax Panel member and Partner in London firm Berg Kaprow Lewis LLP - While working from home can cost you money, you can offset many of these expenses against your tax bill. Primary Business Today - Specialist healthcare accountants and lawyers help Practice Managers resolve some business problems. A question and answer session with Simon Brook, UK200Group Healthcare Committee Member and Partner and Medical Practice Specialist with firm Price Bailey LLP; Marcus Ward VAT Director with Price Bailey LLP and Suki Harrar Partner in UK200Group Lawyer firm Wright Hassall. Accountancy Age - Small firms hit back over audit quality record - Jonathan Russell, president of the UK200Group, said "your basic audit is not going to be improved by increasing in size". SAIF - David Ingall, Vice President of UK200Group and Managing Partner at JWPCreers writes the first of two articles on Exit Strategies - so you think you know where you are now, but do you know where you want to be in five, ten or twenty years' time? July 2007 Solicitors Journal - The Legal profession were warned to be particularly cautious when authoring payments on behalf of their business. A series of case studies by Spencer Simmons, Forensic Accountant and Dispute Resolution partner at UK200Group firm Haslers identifies the risks business owners open themselves up to by unscrupulous employees, if secure safety procedures are not put in place for dealing with company payments and accounts procedures. As Chairman of the Group’s Forensic Accounting and Dispute Resolution Panel, member of the Academy of Experts and Expert Witness Institute, Spencer has dealt with many cases of fraud and the warns solicitors to 'look before they sign on the line' if they do not want to suffer huge losses. Surrey Chamber of Commerce - Small and medium sized businesses are now involved in record levels of mergers and acquisitions. Wilf Altman, UK200Group, takes a closer look at current trends. Practice Management - practice managers of medical practices were advised this month by Ann Tudor, specialist medical accountant and business advisor with UK200Group firm Whittingham Riddell LLP, Shrewsbury on new sources of income. Practice Managers were reminded by Ann that because gross income from medical services delivered by GP practices is under increasing pressure, new avenues of growth should be explored. Her case study shows that a business plan which forces everyone involved to look outside the box can deliver real opportunities. June 2007 In Practice - Developing a business strategy service can provide a valuable additional service for clients, states Nick Mayhew, Business Strategy Partner at UK200Group firm Price Bailey LLP. Strategic planning is high value advisory work for the more capable accountancy firm. It is also right on the button in terms of things that motivate clients confirms Nick Mayhew, Chairman of UK200Group’s Business Strategy Panel. SAIFInsight - Independent funeral director businesses can cut down on their paperworkaccording to Lindsay Henson, Senior Tax Manager at UK200Group firm Forrester Boyd in Grimsby by applying for an HMRC dispensation. All businesses must declare subsistence and expenses paid to employees and directors and dispensations means that companies do not need to spend time filling in multiple forms when the tax due is nil. Uniforms, eye tests, medicals, professional subscriptions as well as travel and entertaining can also be included in the dispensations says Lindsay. Catalyst Magazine - Terry Jordan, Capital Taxes Consultant at UK200Group member firm Berg Kaprow Lewis LLP explains why Inheritance Tax is no longer just for the rich. Practice Matters - The golden rules of selling a business if followed can ensure businesses do it successfully. Daniel Shear, Director of Corporate Finance at UK200Group firm Berg Kaprow Lewis in London says keeping your eye on the ball is very important while looking for a buyer. There are many deals that begin promisingly but fall through because the vendor became distracted. So don't neglect your business while trying to sell it, says Daniel. P3 - UK200 Healthcare Group Business Gurus Jon O’Shea, Tax Partner with UK200Group firm Haslers, London and Mark Lewis, Solicitors with UK200 Group Lawyer member Wright Hassall LLP Warwickshire answer some important financial and legal questions raised by pharmacists in this business journal for pharmacists. Practice Management - Security in GP practices is gaining attention from the Government, healthcare services and the media as more practice managers express concern for the safety of their staff and patients’ advises Ann Tudor, member of UK200 Healthcare Group firm Whittingham Riddell LLP, Shrewsbury. Practice Management - Changes to VAT rules on non-medical services provided by GP practices means that if GP practices are above the threshold, they need to register says Tom McCrone, Chairman UK200 Healthcare Group and Tax Partner at Wylie & Bisset, Glasgow. May 2007 ACA Accounting&Business – Accountancy firms’ corporate finance specialists, such as UK200Group’s Corporate Finance Panel, are helping small and medium sized businesses across the board in record levels of M&As. Mostly private deals with transaction values in the range of £250,000 to £5m or more where our Corporate Finance members act as advisers to vendors, purchasers and investors. Simon Blake, corporate finance partner and Chairman of UK200Group’s Corporate Finance Panel attributes wider interest in M&As in the SME sector to an increasing entrepreneurial spirit partly encouraged by the current capital gains tax taper relief legislation. Frequently we are asked by vendors to introduce them to new investment opportunities, involving both cash and skills, says Simon Blake. Best Practice - smart thinking for business advisers John Thame partner at UK200Group member firm Ellacotts, has been sorting the wheat from the chaff for his farming clients for a decade. He tells Liz Loxtokn why having farming in his blood has stood him in good stead and is determined to sow the seeds of recovery in the agricultural field. Personnel today - Microsofts chief executive Steve Bullmer's announced at the Institute of Directors' Conference that he culls one in every 15 employees every year. Hamish Cameron Blackie partner at Barlow Robbins, lawyer members of UK200Group responds to this by saying that he considers this is a poor way of motivating staff. Accountancy Age - Simpler tax forms would result from an overhaul of UK law argues David Whiscombe, Director of Taxes BKL Tax London. The time has come for a radical rethink of tax law as it is now so complicated, the much-vaunted rewrite has resulted in HMRC replacing the 800 or so sections of the old tax law with something over 2,500 sections of new tax acts. If HMRC insists on having the most complex tax code in Europe it is basic arithmetic to at least reserve it only for the biggest and most sophisticated tax planners. This supports the results of a recent National Audit Office report that UK tax law was very complicated. The majority of UK taxpaying public aren't special cases or avoiders states David Whiscombe, member of UK200Group Tax Panel, they just want to understand the rules. Financial Management - A CIMA publication for accountants reported on the billion of tax lost through offshore tax havens. David Whiscombe, Director of Taxes BKL Tax London, commented on the steady development of anti-avoidance disclosure rules by HMRC and the successes of its Special Civil Investigations Offshore Fraud Projects Group in persuading a high street bank to release information on clients with offshore bank accounts. David Whiscombe member of UK200Group Tax Panel welcomes HMRC's tougher stance as he believes tax havens are unfair to smallish UK-based firms when they are seeking to compete with large companies. SAIFInsight – Funeral directors who ignore the new rules on company cars do so at their peril warns Lindsay Henson, Tax Manager with UK200Group member firm Forrester Boyd, Grimsby. New rules governing company cars came into effect from 6 April 2007 and Lindsay, member of UK200Group Tax Panel, explains the serious hike in potential tax charges and how employees in funeral businesses may be affected l.henson@forrester-boyd.co.uk. April 2007 Practice Management – An overview of the healthcare sector’s future following UK200 Healthcare Group’s national training course in February confirmed that change is certain in the industry. Tom McCrone advises practice managers and readers to ensure their accountant and professional advisors are prepared for the changes ahead and can provide the expert help and guidance needed to help GP practices. Solicitors Journal - Solicitors are selling their skills to an increasingly demanding marketplace. This pressure puts further strain on the equity partners comments Mark Sharpley, Partner at Smailes Goldie Accountants & Business Advisors, Hull and Chairman of the UK200 Legal Group of accountants and lawyers. Understanding working capital, working with it and improving to survive are key messages from Mark with real case studies, two where solicitors; practices made real improvements and one on a forced merger. Best Practice - The Accountancy Age supplement for accountants and business advisors. UK200Group President Jonathan Russell and forensic accountancy partner at ReesRussell, Witney, is keen to dispel the myth that forensic accountancy and expert witness work are glamour assignments and why the expert services of UK200Group’s Forensic Accounting and Dispute Resolution panel are often called upon by SME businesses. SAIFInsight – One common method of allowing employees to acquire shares in funeral director businesses is to grant them an option to purchase shares, or partly paid shares, explains Stephen Deutsch, Senior Tax Consultant at UK200Group member firm BKL Tax, London. Tax considerations of partly paid share schemes were also explained by Stephen, member of UK200Group Tax Panel stephen.deutsch@bkltax.co. March 2007 Catalyst Magazine - the business magazine from Clydesdale Bank where David Young, Tax Partner, BKL Tax London andChairman of UK200Group Tax Panel answers questions on how to plan for the year ahead. ThirdSector– The journal for charities, voluntary organisations and social enterprise alerted its readers to the UK200 Charities Group report on The Charities Act 2006 which contains information about changes to accounting procedures, reporting standards and external scrutiny of accounts. The UK200 Charities Group report is particularly relevant for cross-border charities, which are facing a nightmare of dual regulation, says Mike Procter, Head of Charities at UK200Group firm FW Stephens, London. Mike continues, cross-border charities are facing a nightmare of dual regulation, there are similarities in English & Scottish legislation on definitions of public benefit and how to operate as a charity, but they are not the same. Practice Management - The journal for Practice Managers of GP practices advised its readers of a recent review of £250k VAT assessment of a medical recruitment agency which was successfully withdrawn after the intervention of UK200Group accountancy member firm Haslers, London. Debra Dougal, Director of VAT at Haslers said the VAT due on supplies of staff in the healthcare market, followed HM Revenue & Customs' new position that agencies supplying doctors, nurses and other medical staff are not exempt and must charge VAT. In this particular case the VAT man could not make up his mind whether VAT was due or not and after two years decided it was. A strong and compelling case for misdirection, covered by Extra Statutory Concession, was then mounted to show the client had been misdirected resulting in Customs withdrawing its assessment, agreeing not to seek recovery of any VAT for the period in question. SAIF - Independent Funeral Directors were given advice on the art of budgeting and forecasting by David Ingall, managing partner at UK200Group firm JWPCreers, York. David asks funeral directors to look at their business, set benchmarks, standards and targets to identify - What they do well - What is the most profitable work - Where that work comes from - What is it costing them. February 2007 Best Practice - The Accountancy Age supplement for accountants and business advisors talks to David Saunders, managing partner of UK200Group firm Ellacotts LLP about IT value added services for clients. As we have increased our use of technology it has made it easier for Ellacotts LLP and our clients to focus on revenue generating activities, confirms David. There is no time to waste if accountants want to go the extra mile to help make businesses more efficient writes Lesley Meall. Accountancy Age - Reports that requests for funding under the government small firms loan guarantee (SFLG) scheme have almost halved in the last year should be treated with suspicion, comments Jonathan Russell, President UK200Group and partner at ReesRussell, Oxfordshire. A strong advocate of the SFLG scheme which for once he believes the government has got right. Banks just need to use it more and forget the amount of paperwork they have to do for SFLG schemes. Accountancy Age - Concerns are growing that HM Revenue and Customs is misusing its powers in an attempt to extend corporation tax enquiries into the personal financial affairs of company directors. 'Section 20 is being used and abused by inspectors who dislike the constraints of the self-assessment enquiry regime' said Barry Lewis, senior partner at UK200Grop accountancy and business advisory firm Harris Lipman, London. Accountancy Age - HM Revenue and Customs is going one step beyond from being a user-friendly department to a zero-tolerance organisation with the setting of totally unrealistic deadlines in its enquiries into corporation tax self-assessment returns, says Barry Lewis, senior partner at UK200Group accountancy and business advisory firm Harris Lipman, London. Accountancy Age - HM Revenue and Customs has been using very aggressive behaviour in recent weeks to extend corporation tax enquiries into the affairs of company directors. Advisers are unhappy with the threat of Section 20 of the Taxes Management Act by HMRC to glean this information, says Barry Lewis, senior partner at UK200Group accountancy and business advisory firm Harris Lipman, London. Practice Management - Effective business continuity planning is essential for practice managers to ensure their business is protected from potential business disruptions through IT systems failure and the spread of ever increasing sophisticated virus technology, says Kash Kurup, partner at UK200Group accountancy and business advisory firm Haslers, London. Business network - Jonathan Russell, President UK200Group and accountancy Partner with UK200Group member firm ReesRussell in Witney advises businesses to ensure their accountant adds up when it comes to offering good advice and strategic planning. Recruiter - VAT consultant Debra Dougal from UK200Group member firm Haslers, North London successfully launched a VAT misdirection case against HMRC on a VAT bill of £250,000 for a recruitment agency client. SAIFInsight - Business continuity planning should be taken seriously to protect businesses from uncertainty, this was the message Laurence Jacobs, partner at UK200Group member Firm Haslers, was sending to independent funeral directors. Staff training, careful IT investment and best practice procedures should all be included in the BCP, as part of an overall IT security policy. January 2007 SolicitorsJournal - To what extent is HM Revenue and Customs allowed to change UK residency rules? This was a question David Whiscombe, Director of Taxes at UK200Group firm Berg Kaprow Lewis, London asked when HMRC moved the goalposts on residency in the UK. David is a member of our Tax Panel and as our advert states, is one of the Group's 17 tax experts who have the expertise and professional knowledge ot help plan and manage tax overheads. Accountancy Age - Should contingency liability always be disclosed asked Jonathan Russell, President UK200Group, in an article headed 'A public's right to know'. Without wishing to prejudge the outcome of current investigations, he argued, the Farepak saga offers an opportunity for accountants and auditors to consider what information we provide and also how we provide it. Midland Business Today - Business taxes are overheads, they reduce profits and show no benefit for the expense, was the message from UK200Group Tax Panel. How to profit from tax is advice that isn't always available, except from tax experts like UK200Group Tax Panel. Observing and following a few golden rules for sound tax management can achieve positive tax savings. Financial Director - Daniel Shear, Chairman UK200 Group Corporate Finance Panel and Partner, Berg Kaprow Lewis Corporate Finance, London comments on private equity houses and mounting concerns about the debt private equity firms load on to companies acquired. 'Whether a private equity portfolio company will be able to offer the same level of service or the same quality product while operating on a lower cost base is debatable' comments Daniel. Financial Mail on Sunday - Commenting on mergers, Daniel Shear, Chairman of UK200 Group Corporate Finance Panel and Partner, Berg Kaprow Lewis Corporate Finance, London, says 'We've seen significant increases in mergers and acquisitions in the small and medium sector in the last two years. British companies are leading the way spurred by a relatively stable economy, available funds and the low cost of borrowing'. Paul Storer, Corporate Finance Director and Partner, Price Bailey, Cambridge and UK2000Group Corporate Finance Panel member, says 'Make sure your business is financially strong and has good management information systems. More owner-managers are thinking about selling due to increasing regulatory pressures and the impact of the China boom'. Practice Management - Commercial success by managing an efficient and effective commercial practice is central to achieving profitability and long-term success says Simon Brook, UK200 Healthcare Committee member and Healthcare Partner, Price Bailey LLP. SAIFInsight - Independent funeral directors were advised by Lindsay Henson, Tax Manager at UK200Group firm Forrester Boyd, Grimsby to beware new style HMRC inspectors. Lindsay, specialist in tax investigations is a member of UK200Group Tax Panel and warns funeral directors to beware as HMRC may be using new style inspectors but the guidance notes are way out of date. December 2006 Accountancy Magazine - 'Tis the season to give jollies. Partners of five member firms attending the UK200 Group's annual conference were asked what they did for clients at Christmas. Answers ranged from sending cards and calendars, photographs of leading Scottish golf clubs, wine, chocolate and pens. One member questioned whether even cards were worth the effort. 'Everyone knows it's done simply by pressing a button'. Accountancy Magazine - An article on the government's thinking about raising the audit exemption threshold by another 20 percent quotes Jonathan Russell, president UK200Group and partner in ReesRussell, Witney, Oxfordshire, who says he would be enthusiastic about the prospect of change and arguing that the current rules determining which companies are audited are a 'blunt instrument' and that it would be better to change the emphasis away from size towards ownership. 'I think that when there are investors who don't have any control, then that's when you need to audit' comments Jonathan. Business & Finance Scotland - Giving a corporate overview, Mike Sheppard, Senior Partner at UK200Group accountancy firm Wylie & Bisset, Glasgow, and member UK200Group Executive Committee, feels that 2006 was an eventful year for the accountancy profession. 'There has been an increased volume of business from both existing and new clients, so our services are in demand, and most accountancy practices are busy. On the downside we have had to contend with increasing bureaucracy, international auditing standards and new ethical standards, and the new companies bill currently going through Parliament. Best Practice - Software upgrades don't happen as a matter of course in an accountancy firm or among its clients says Martin Minett, Chairman UK200 IT Group and partner, Hillier Hopkins Accountants and Business Advisors. Martin was commenting on the wide range of IT business software products on the market and stated 'people tend to stick with what they know, unless there's good reason to change'. SAIFInsight - Funeral directors were advised to complete and submit self assessment tax returns to HMRC on time. Failing to take reasonable care can include failure to keep proper records and results in an enquiry by HMRC, says Tom McCrone, Tax Partner, at UK200Group firm Wylie & Bisset, Glasgow. November 2006 Practice Management - Tom McCrone, Healthcare Specialist Tax Partner, Wylie & Bisset and Chairman UK200 Group advised Practice Managers and GPs to ensure self assessment tax return are completed and submitted on time. Specialist healthcare accountants can provide help and advice in the event of an HMRC investigation, confirms Tom. Financial Director - Joanna Lada Walcki, Associate with UK200 Lawyers Group member Barlow Robbins LLP contributed to Q&As to help Financial Directors dispelling myths of ageism. Joanna explains the lawful criterion which should be used when calculating an employment benefit for length of service. Accountancy Magazine - Canvasses the views of UK200Group members Martin Minett and Ashok Shah on the use of spreadsheets. Martin Minett as Chairman of UK200Group's IT Panel agrees that the spreadsheet has become such a basic tool of the trade and the one most finance people would want to use. Ashok Shah confirms most finance professionals would rather live with the limitations of a familiar tool than face the pain of learning something new. Solicitors Journal - Mark Sharpley, Chairman UK200 Legal Group and Partner, Smailes Goldie, Hull, explains the importance of team work amongst professionals. Management buy-outs only ever succeed, says Mark, if accountants and lawyers work together fully from the start. SAIFInsight - Lindsay Henson, Senior Tax Investigations Manager, from UK200Group firm Forrester Boyd, tells Independent Funeral Directors of a seemingly innocuous request from HM Revenue & Customs that can lead to more serious consequences. October 2006 Practice Management - Tom McCrone, Healthcare Specialist Partner at UK200Group member firm Wylie & Bisset and Chairman of our Healthcare Group explains the benefits partnership agreements can bring to GPs and the importance of up-to-date partnership agreements. SAIF Insight - Independent Funeral Directors were advised by Andy Thackeray, from UK200Group firm Mitchell's in Chesterfield why a good accounting system is a key business tool and the benefits it can deliver as a performance indicator. September 2006 Growing Business - UK200Group survey of businesses with a turnover of between £500,000 and £12m found that 60% of them expect to spend up to £100,000 on efforts to grow their businesses, while nearly a quarter claim they will spend more than that amount. Growing Business Growthclinic - Jonathan Russell, President, UK200Group explains the new tax rules and employment regulations which have recently been brought in relating to employing temporary workers. Practice Management - Simon Brook, member of UK200 Healthcare Committee and medical practice specialist at UK200 Group firm Price Bailey LLP explains through his top tips for successful people management which Practice Managers need to adopt good HR disciplines for all staff. Practice Management - Secure information is crucial for all GP Practices and Practice Managers according to Martin Minett, Chairman UK200 IT Group and IT Technical Partner at UK200 Group firm Hillier Hopkins LLP. Comprehensive reviews of Practice security policies and regular screening of all internal systems and external penetration tests against all systems connected to the internet can help Practice Managers maintain secure IT structures. ThirdSector – UK200 Charities Group report on The Charities & Trustee Investment (Scotland) Act 2006 and the Charities Accounts (Scotland) Regulations 2006 was published this week. John Watkins, Partner at UK200 Group Scottish member firm Dickson Middleton and Chairman of UK200 Charities Group explains to Helen Warrell, Finance Editor the purpose of the report was to avoid any jargon so that lay trustees and those with no specialist knowledge in the Scottish Charity sector will understand the legal requirements for all charities in Scotland including cross-border charities. August 2006 Financial Adviser – Reported UK200Group SME business survey on conducted during the summer which showed that 50% of SMEs expect to increase employment and profits and spending but are concerned over market competition and legislation. The survey also covered the services SMEs receive from banks. Business Network – Responses from Small and Medium Sized enterprises to Uk200Group business survey conducted during the summer indicated that 50% of SMEs expect to increase employment and profits and spending. The survey also covered the services SMEs receive from banks. SAIF Insight - Colin Mills from UK200Group explained the importance of cash flow management and how the independent funeral business could manage this. Colin Mills is a member of UK200Group's Corporate Finance Panel and Partner at our member firm Larkings, Maidstone. First Voice - Helen Phillips, member of UK200Group Executive Committee and accountancy partner at Keen Phillips talks to Alex Byth from the Federation of Small Businesses on the low uptake by SMEs of the Small Business rate Relief. The FSB is campaigning to alleviate the 'intolerable burden' of business rates in the UK. Acquisition Finance - Daniel Shear, Chairman of UK200Group Corporate Finance Panel and Partner at BKL Corporate Finance, explains that by combing their skills as part of the UK200Group, a collection of corporate finance specialists are punching above their weight in the mid-market July 2006 Growing Business - UK200Group's survey of small businesses revealed that 50% if sMEs expected to grow during the next 12 months. UK200Group's annual survey confirmed a positive outlook among small to medium-sized businesses. The Group's survey also revealed few businesses planned to change banks. The Times and The Guardian - Peter Scott, Environmental Law Expert at UK200Group firm Parkinson Wright Solicitors represented 14 mussel farmers in the Wash appealing against a refusal by English Nature to allow them to scare eider ducks off their crops. The future of mussel cultivation in the Wash depends on the decision of DEFRA ministers following the public enquiry held in Boston Lincolnshire from 27 to 30 June in which Mr Scott acted as advocate. Accountancy Age - Martin Minett, Partner at our Hemel Hempstead accountancy firm Hillier Hopkins and Chairman of UK200 IT Group talks to Accountancy Age on whether specialist business applications will replace spreadsheets as the tool of choice for SMEs. FarmingUK - online - Single Farm Payment Scheme - a regulatory load of farm yard manure. Paul Rice, Partner in the Farming and Rural Business Team of UK200Group Lawyer member firm Wright Hassall explains why the administration of the SPS has not gone smoothly and what the consequences will be. Paul Wright is a member of UK200 Argicultural Group Paul.Rice@wrighthassall.co.uk. Financial Mail on Sunday - Business Briefing covered UK200Group’s National Economic Survey conducted June/July 2006. Our survey indicated that three out of four owners of small businesses say the greatest barrier to growth is market competition, while 63% blame the skills gap and 59% point to the increasing burden of red tape. But despite these problems, more than half of companies remain confident that they can boost levels of employment and increase their profit margin over the next 12 months. P3 - a pharmacy journal covering key business and professional issues for pharmacists from a new perspective. UK200 Healthcare Group Business Gurus Tom McCrone, Tax Partner at our Glasgow accountancy member firm Wylie & Bisset and Chairman of UK200 Healthcare Group and Roger Smith, Commercial Property Partner at our solicitor member firm Barlow Robbins LLP. Woking, answer some important financial and legal questions raised by pharmacists. SAIF Insight - Independent Funeral Directors were given a brief guide of the new complex inheritance tax regulations by UK200Group Tax Panel member Andrew Miller. Exemptions and reliefs, probate, deeds of variation, rate of tax, business property and overseas aspects are some of the issues covered by Andrew Miller, Tax Partner, FW Stephens, Accountants and Business Advisors, London. June 2006 Charity & Trustee Investment (Scotland) Act 2005 - Jenny Simpson, UK200 Charities Committee member and Manager at Wylie & Bisset, Glasgow, explains why the charity sector in Scotland is experiencing a period of unprecedented change. The Act received Royal Assent on 14th July 2005 although its provisions are being enacted over a period up to and including 2007. The most fundamental affect of the Act is the creation of a regulatory body the Office of Scottish Charity Regulator (OSCR), which received its statutory powers on 24th April 2006. Solicitors Journal - Anne-Marie Naylor, member of UK200Group Forensic Accounting Panel and Partner in UK200Group firm Hart Shaw - Macclesfield, discusses the Lords' decision in Miller [2006] UKHL 24 and why it is increasingly critical to get share valuation right when dealing with matrimonial settlements. Anne-Marie is a Cardiff University Accredited Expert Witness. Accountancy Magazine - Andrew Blakey partner at UK200Group firm JWPCreers, York, discusses the Professional Oversight Board for Accountants (POBA) report on the accountant's role in supporting small and medium sized businesses and the continued benefit in producing full detailed annual accounts. Best Practice Magazine - discusses Lord Carter's recommendations to change the deadline for self assessment tax returns. David Whiscombe, Director of Taxes at UK200Group firm BKLTax London, contributes to the debate by stressing that 'We are going to end up with people worked off their feet for six months of the year. You can't expect people to do tax returns for six months, then switch over to audit etc. The work is too specialised.' SAIF Insight - Independent Funeral Directors were made aware of what they need to do if they are selected for an enquiry by the Inland Revenue. Lindsay Henson, Senior investigations Manager at UK200Group firm Forrester Boyd explained that a tax investigation can arise for a number of reasons and what action needs to be taken by funeral businesses. May 2006 Practice Management - Practice Managers of GP surgeries were given an insight into payroll intricacies and how employers should conduct their payroll affairs so that employees are happy with the correct payroll deductions. UK200Group member David Butler, Tax Consultant at BKL Tax, London advises how to avoid costly pitfals during the current tax year ending 5 April 2007. SAIF Insight - Independent Funeral Directors were advised of a ruling by the European Court concerning UK businesses ability to recover VAT on fuel purchased by employees. Debora Douglas, VAT Manager at UK200Group firm Haslers, explains the procedures and evidence required for making a claim to recover VAT on employee mileage claims. April 2006 SAIFInsight - the journal for independent funeral directors. David Butler, tax consultant with UK200Group firm BKL Tax explained what action needed to be taken to close off the business payroll and get the end-of-year returns to HM Revenue & Customs and meet the PAYE - end of your deadlines. PPR - Tom McCrone, Chairman of UK200 Healthcare Group and partner at Wylie & Bisset, tells Carolyn Scott from PPR the journal for Community Pharmacists that the Chancellor had created a budget of missed opportunities for pharmacy in March 2006. Practice Management - the magazie for Practice Managers of GP Surgeries talks to Simon Brook, Price Bailey LLP and member of the UK200 Healthcare Group on the Chancellor's Budget 2006. Simon who leads the medical services division at Price Bailey LLP says there is little or no mention of the health service in this year's budget. March 2006 Business & Finance Scotland - Mike Sheppard, vice president UK200Group and senior partner at Wylie & Bisset, Glasgow comments on how to conduct an MBO in a touch economic climate. Mke says that while every deal is different, there are key factors the involved accountant should handle. Practice Management - the journal for GP Practice Managers covers the issue of Value Added Tax and dispensing practices. Marcus Ward, VAT Specialist on UK200Group Tax Panel discusses the effects of the changes announced to the settlement of the 2006/2007 GMS payments, in particular the loss of the VAT allowance. Marcus is VAT director at Price Bailey LLP, Bishop Stortford. Catalyst Magazine - the business magazine from Clydesdale Bank. UK200Group answer questions on Tax-saving ideas - are there any that really can save money? and How to write the perfect business plan. Third Sector - the essential weekly news for charities discusses investment portfolios and what trustees need to know. Mike Proctor, member of UK200 Charities Group and partner at FW Stephens says a useful source is the Charity Commission web site. Chancellor's Budget - David Whiscombe, member of UK200Group Tax Panel and Director of BKLtax gives his views on 'The fiddling chancellor'. There is virtually nothing in this Budget that will make any substantial difference to the SME sector taken as a whole says David. Ely standard - UK200Group's Business Strategy Panel Chairman Nick Mayhew confirms why SMEs need the help of Group members with their business strategy planning, however, the majority of SMEs need to wake up to the opportunities and new competitive threats. Nick is head of strategic development at his firm Price Bailey LLP, Bishop Stortford. SAIFinsight - the journal for independent funeral directors. Steve Martin, a wealth management consultant for UK200Group firm Haslers, advised independent funeral directors that from 6 April, new tax rules apply to pensions and explains what a difference A-Day makes. Talking Sense - the newsletter from Chartered Developments includes an article People Power about Sales Director, Peter Rosenwald's participation in the UK200Group's 20th Annual Conference in Southampton last November. Moneybox - Helen Phillips, partner at Keen Phillips and member of UK200Group Executive Commitee, tells SMEs that running their accounts well can ensure the whole company operates efficiently. February 2006 Accountancy Age - Daniel Shear, Chairman UK200Group Corporate Finance Panel and partner BKL Corporate Finance, London, talks to Paul Gosling about how a good venture capitalist can assist SMEs who are looking for investment of less than £2m by providing management resources and helping them get clients. Companies and advisers need to understand the Financial Services and Markets Act 2000 - seeking investment is, subject to some exceptions, now a regulated activity. Farmers Guardian - Richard Barnett, Chairman of UK200 Agricultural Group and partner at Howard Worth, explores the benefits for farmers wishing to take their single farmer payments in euros. UK200 Agricultural Group and Group Prime Partner Clydesdale Bank take a look at the potential benefits and pitfalls of the €Euro option. Accountancy Age - Mike Sheppard, Vice President UK200Group spoke on behalf of Group members and their many thousands of SME clients when he contributed to the Accountancy Age debate on how the Big Four firms exert too much political influence. Mike says if smaller accountancy firms were able to represent the SME market perhaps things would have been different. SAIFinsight - Lindsay Henson, member of UK200Group Tax Panel and Partner at Forrester Boyd, explains to The voice of Independent Funeral Directors and Planners how to minimize their tax bill before 5 April 2006. North West and North Western Lancashire CC - Helen Phillips, partner at Keen Phillips and member of UK200Group Executive Committee, tells SMEs that running their accounts well can ensure the whole company operates efficiently. January 2006 UK200Group supports Macmillan Cancer Relief - Over £1220 was raised at the Group's annual conference held in Southampton. UK and International accountants, lawyers and other guests enjoyed taking time out from the busy conference schedule to raise funds for such a worthwhile charity. Pharmacy Business - Tom McCrone, Chairman of UK200 Healthcare Group and partner with Wylie & Bisset, looks at the issues surrounding business finance for pharmacists. Tom talks to Sonya Dhalla, Assistant Editor, on how UK200 Healthcare Group can help pharmacists get to grips with the new regulations and guidelines of the New Pharmacy Contract. Farming UK Interactive - Richard Barnett, Chairman, UK200 Agricultural Group and our Prime Parnters - Clydesdale Bank, explain to farmers their Single Farm Payment (SFP) in Euros rather than Sterling has unlocked the potential for businesses to explore the new benefits of Euro based loans. Best Practice Magazine - for accountants and their clients speaks to UK200Group member firm Dains about their five year strategic plan launched in 2003. Chris Windsor, Audit and IT Partner, explains how the best way to ensure success was to have a software solution that would unite the five offices and their specialist consultancy services by working closely with one supplier. Accountancy Web - A quick guide to HR for your accountancy firm. Peter Gilman, Heads up the People Management Department at the UK200Group member firm Price Bailey LLP and explains what accountancy firms should be doing to recruit and retain the right people from trainees through to senior managers. Professional networking and training opportunities provided by UK200Group means firms of all sizes can access expert help while also learning from the success stories within the Group. CA Magazine - takes a quick peek into the IT virtual crystal ball for the next 12 months. UK200Group Vice-President Mike Sheppard, Senior Partner at Wylie Bisset, explains to David MacMurray the changes he anticipates coming soon to accountancy firms. Accountancy Magazine: Personal File People Moves Jonathan Russell, Partner at Critchleys, Oxford is appointed new president of UK200Group. During his two year presidency he will implement a five year strategy plan. Predictions for 2006 Jonathan Russell, President, UK200Group gives his predictions for accountants for 2006. Financial Reporting Audit Andrew Blakey from UK200Group firm JW Pickles & Co., and a member of the ICAEW's Audit Assurance Faculty, explains to Alice Nixon how accountants can overcome a vicious circle of audit concerns for small and medium firms are set to continue long into 2006. December 2005 Best Practice Magazine - covering business issues for accountants and their clients speaks to Martin Minett, Chairman of UK200Group IT Committee and Partner at Hillier Hopkins on accountants clubs. Accountancy firms spoilt for choice as software vendors battle for accountants' loyalty by Microsoft disturbing the status quo between Sage and Intuit. AccountancyAge.com – Arctic reason: HMRC appeal could follow, accountants warn. The decision of the courts to find in favour of the Jones’ in the Arctic Systems husband-wife-tax case has led to many words of congratulations. However David Whiscombe, Director of Taxes, Berg Kaprow Lewis Tax and member of UK200Group Tax Panel comments ‘The Revenue may be able to appeal to the House of Lords (they will need consent to do so); or of course they may change the law. It’s reasonable to expect that any change will not be retrospective’. David Whiscombe answers some initial questions arising out of the Arctic Systems wins Landmark Section 660A appeal in UK200Group Talking Tax issue 12. November 2005 Accountancy Magazine.com - People in the News Section reports on UK200Group's new president Jonathan Russell, Partner at Critchleys, Oxford and his plans for his two-year presidency. 24 November Solicitors Journal - management section - how to keep your books looking healthy, an article by David Ingall, Partner at JW Pickles and Vice-Chairman of UK200 Legal Group. He talks to Judy Hodgson, Solicitors Journal, of the importance of good accounting and business practices under the client money rules. UK200 Legal Group work closely with clients and understand what solicitors require from their banks. 11 November 2005 Pharmacy Business talks to Trevor Cook, Partner, Baines Jewitt and member of UK200 Healthcare Group on how pharmacists can get the most out of their accountants. Pharmacists are choosing accountants with specialist knowledge of the pharmacy sector as they can help with their business strategy planning under the new pharmacy contract and stop tax becoming taxing. Best Practice - Accountancy Age magazine - Profile Section this month looks at Simon Brook, partner, Price Bailey LLP, member of UK200Group's Healthcare Committee and specialist accountant and business advisor for GP Practices. Simon comments that medical practices have very particular requirements and he has seen GP's workload increase over the years, as more services are moved from hospitals to surgeries. Today's medical practices are looking much more business-like than they used to as a result of the new GP contract brought in in April 2005. Accountants working within the healthcare sector need to be extremely knowledgeable with professional awareness of the business strategy needs and requirements of general practitioner clients. Simon Brook's profile as Partner, Price Bailey LLP and member UK200 Healthcare Group can be viewed Profile article on Simon Brook Best Practice - Accountancy Age magazine - Analysis Section this month includes comment from Jonathan Russell, partner Critchleys and President UK200Group on how changes to audit regulations will open up new opportunities for small accountancy firms. Jonathan elected President UK200Group on 11 November believes the move is an opportunity for accountants to be seen as the true business advisers.... October 2005 The Venturer - a Corporate Finance magazine with a regional distribution for Berkshire, Essex and Herts, contains an article on the pros and cons of going on the AIM market. Featuring Paul Storer, Director of Corporate Finance, Price Bailey LLP and member of UK200Group Corporate Finance Panel, the article was written by Wilf Altman and appeared in the October 2005 edition. Practice Management Magazine - for Practice Managers of GP Surgeries and Medical Centres, covers the UK200 Healthcare Group survey amongst GPs and Practice Managers on the new GMS contract. The survey revealed differences of opinion between the two professions on the role of Practice Managers. Accountancy Magazine Special Report - Institute consolidation was a collection of views from ICAEW members and Helen Phillips, President UK200Group commented August 2005 ICP - Business Focus - Tax Efficient Childcare Assistance Tom McCrone, chairman UK200Group - Healthcare and partner Wylie & Bisset, Glasgow, offers some advice to readers of Pharmicy Business August 2005, on tax efficient childcare assistance for small employers, such as pharmacists, without incurring tax or NIC. click here July 2005 Accountancy magazine July 2005 published its Top 60 league table of UK Accountancy firms 2005 and this year we are delighted to see that 7 UK200Group firms were listed. Liz Fisher reports "it has been a happier year for the Top 60 accountancy firms in the UK" and we would like to congratulate all Partners and staff who helped these UK200Group firms achieve this magnificent result. UK200Group firms appear inTop 60 Accountancy Magazine awards June 2005 Accountancy Age issues its respected league table ranking of the top 50 Accountancy Firms in the UK June 2005 has seen 4 UK200Group firms appear in the top 50 listing and we are delighted to congratulate all partners and staff who have helped these firms achieve this magnificent status. UK200Group firms appear in Top 50 Accountancy Age awards Pharmacy Business - Calling on pharmacy's friends Tom McCrone, Chairman, Healthcare Group and partner at Wylie & Bisset, encourages pharmacists to seek the right kind of assistance to help them meet the new contract's requirement. Written by Nicola Saminather, Staff Writer, Pharmacy Business - Calling on pharmacy's friends MedEconomics - Specialist magazine connectiong GPs and Primary Care Organisations This article advises GPs to use specialist accountants and advisors, in particular UK200Group Heathcare accountants. Carole Slingsby, MedEconomics asked GPs - Is Your accountant really up to the job? This article also advises them to ensure their accountant is a GP finance specialist. May 2005 Accountancy Magazine 'Talking 'bout my generation' - introducing ICAEW's 125th anniversary special report, Alice Nixon talks to three families of accountants about how times have changed in the profession. On pages 40-41 of the magazine (pages 3-4 of attached extract) Helen Phillips, President of UK200Group compares her experiences with her goddaughter Natasha Higman ICAEW-125th_anniversary_special_report (subscriptions number for Accountancy Magazine 0870 2404388) April 2005 Accountancy Magazine UK200Group President, Helen Phillips, and other leading figures in the profession Comments on proposals for institute consolidation. CA Magazine Michael Sheppard, Senior Partner, Wylie & Bissett and member of UK200Group Executive, starts a new series of interviews. SAIF Magazine A UK200Group article examines the pros and cons of planning management succession. March 2005 Pharmacy Business UK200Group Lawyer members Collyer Bristow write on the new employment law and its implications for pharmacists. The Independent on Sunday David Ingall, Managing Partner, J W Pickles & Co. and Chairman of UK200Group's Smaller Firms Forum writes on 'Setting your tax records straight'. Independent Community Pharmacist In this month's Business Focus, UK200 Healthcare Group Chairman Tom McCrone writes on business and tax issues when opening a second pharmacy. January 2005 Independent Community Pharmacist UK200 Healthcare Group, Chairman, Tom McCrone, introduces the Group to Independent Community Pharmacist - Business Focus Readers. Pharmacy Business The Disability Discrimination Act, just in force, is discussed by UK200Group. DDA - how is your pharmacy faring? December 2004 SAIF Insight UK200Group member discusses 'Gordon's Big Black Hole November 2004 The Independent on Sunday Quotes Jonathan Russell, vice-president, UK200Group, in an article on 'Finding the Perfect Financial Adviser.' Sunday Post Quotes the Pensions Minister Malcolm Wicks addressing the UK200Group's annual conference on 'the pensions timebomb' Accountancy Age UK200Group member Haslers wins 'Medium Firm of the Year' Award. 'Through innovation and making the most of technological advances, Haslers continues to exceed expectations.' October 2004 SAIF Insight UK200Group members discuss alternatives to selling the business. What can be done isn't fast enough and one of your partners/directors is looking for an exist route? September 2004 UNICHEM: THE Business 'We work closely with UK200Group, the largest mutual association of well-established chartered accountants with a wealth of contacts and specialist knowledge,' says John Jaquiss of Unichems's Commercial Support Division. August 2004 Accountancy Hillier Hopkins LLP, a l5 partner firm with offices in Aylesbury, Hemel Hempstead and Watford joins the UK 200Group |