Our recent Deep Dive into embedding sustainability into your business, brought together representatives from three very different businesses Fresha, John Wainwright and Stephens Scown, all of whom are deeply committed to sustainability issues and Aimee Higgins from Couch to Carbon Zero an organisation who works with businesses to become more sustainable. As Aimee said in the webinar “As a business leader it is really difficult, you are a subject matter expert, you are running your business and now you also have to save the planet – where do you start, who can you trust and what does good look ..read more

My recent discussion with Theatre Royal Plymouth’s CEO James Mackenzie-Blackman included a debate about the increasing need for creativity, which contrasts somewhat with government’s focus on science and, most recently, maths education. Whilst science, technology, engineering and maths (STEM) remains important, there is much debate about the skills we need in light of the advance of AI and computing power. This debate echoes a phrase recently emphasised by Arts University Plymouth that “the world needs creatives now more than ever”. In a rapidly changing and complex global landscape, I view c ..read more

Kieran Hancock, director in our specialist medical team, has been voted onto the Board of the Association of Independent Specialist Medical Accountants (AISMA). AISMA is a UK wide network of accountancy firms providing expert advice to medical practices, GPs and hospital doctors. The Board is made up of 12 officers, all of whom represent significant expertise in the sector. AISMA provides a place where medical accountants can share information and best practice to help better support their clients, providing unrivalled financial intelligence on what makes the most profitable and well managed ..read more

For the tax year beginning 6 April 2023, the guidance surrounding the employment status of dentists has changed. There is HMRC guidance of an agreement between the UK tax authorities and the British Dental Association (BDA). Up until now, this has stated that HMRC consider all associate dentists self-employed without the need of much evidence. This is now withdrawn from the Employment Status Manual, meaning that there will be no written exception for dentists. HMRC insist that nothing is changing in practice, only they are removing references to third parties from their guidance. However, t ..read more

Cycle to work schemes are a government-backed initiative that aims to encourage more people to cycle to work by making it more affordable. The scheme allows employees to purchase a bike, and any associated equipment, through their employer as part of a salary exchange scheme. The repayments are then taken before calculating tax and National Insurance (NI) contributions. The “green” agenda and staff welfare For an employer with a strong Environmental Social and Governance (ESG) or “green” agenda, this offering is an essential way of helping contribute towards those goals. It coincides with env ..read more

On Wednesday 17 May 2023, our rural team joined the farming community to recognise the importance of British farming and celebrate the 2023 Devon Farm Business Awards. About the awards Organised by the Addington Fund, with Principal Sponsor Cornish Mutual, the evening celebrated Devon’s finest farmers with one overall winner claiming Devon’s Farmer of the Year 2023. The Devon Farm Business Awards, now in its ninth year, provides an opportunity to recognise the hard work of farmers and the farming industry. In addition, the total amount raised from all fundraising activities during the evening ..read more

The UK is due to enact new free trade agreements (FTAs) with Australia and New Zealand at the end of the month on 31 May 2023. If you intend to buy goods from or sell goods to Australia and New Zealand, the PKF Francis Clark customs team are happy to support your business in taking advantage of the new trading arrangements. The new free trade agreements mean that: UK suppliers can sell goods to AUS/NZ at a reduced or nil rate of customs duty AUS/NZ suppliers can sell goods to the UK at a reduced or nil rate of customs duty Most goods will no longer be subject to customs duties, provided rule ..read more

We are delighted to announce that the Corporate Finance team at PKF Francis Clark has been shortlisted for multiple awards at the Insider South West Dealmakers Awards 2023. The first half of the year has been busy, with the team completing a large number of transactions ranging across acquisitions, disposals, MBOs and fund raising. The awards take place on 29th June in Bristol and we are in the following shortlisted categories: • Corporate Finance Advisory Team of the Year • Small Deal of the Year (sub £10m) – Rotamic Engineering • Small Deal of the Year (sub £10m) – BN Care • Medium Sized D ..read more

PKF Francis Clark’s new partners, from left: Dawn Peattie, Aaron Lawes, Nicola Cornish, Sam Phillips, Justin Gliddon, Ian Hughes, Lisa Whitbread, Chris Rodgers, Katie Skea and Tom Beable (Photo: Steven Haywood) We’re delighted to announce the promotion of 10 new partners and five directors across a range of specialisms. Joining the partnership at PKF Francis Clark are: Aaron Lawes (business advisory, Poole); Chris Rodgers (corporate tax, Exeter); Dawn Peattie (agriculture and landed estates, Salisbury); Ian Hughes (business advisory, Truro); Justin Gliddon (business advisory, Plymouth); Katie ..read more

If you run a business registered as a contractor under the Construction Industry Scheme (CIS), it is important to consider the employment status and IR35 regulations when engaging subcontractors, as failure to do so can result in fines and penalties. CIS – Self-employed subcontractors Under Construction Industry Scheme rules, after engaging a subcontractor, the contractor is responsible for verifying the contractor with HMRC and deducting the relevant percentage of CIS tax from their payments. It also must be confirmed that the subcontractor is genuinely self-employed as part of the verificat ..read more