Accounting Roundup : Business news, updates and advice – November 2018

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06 November 2018

Welcome to November’s Accounting Roundup where we explore the latest real world and local news, tax updates, financial and business advice and accounting matters.

General

We were extremely pleased to announce our Management Buyout (MBO) at our Leeds office in October. The MBO has succeeded in bringing together our North East and Yorkshire regional firms, as well as facilitating the retirement of Leeds office Managing Partner Peter Bancroft, who had been with the firm for over 35 years.

The MBO will strengthen current specialisms in the region, and help cement our position as a leading advisor to aspirational business owners in the North of England.

Read more : Haines Watts plans to keep growing

There is no doubt about the big news for Leeds recently after it was announced that Channel 4 is to locate its new national headquarters in Leeds following a unanimous decision by the broadcaster’s board. The announcement will see hundreds of jobs created in the city and is expected to create an economic impact of more than £1bn over the next decade.

At last some positive news about trains! Northern Powerhouse minister Jake Berry has unveiled the first brand new trains as part of a £500m investment for Northern Rail.

Almost 100 new diesel and electric trains will be rolled out across the Northern network over the coming months.

Leeds City Council has set out its plans for a clean air charging zone (CAZ), including funding to support businesses upgrade their vehicles. As part of the proposal, the council intends to request £27m from the Government's Clean Air Fund to support local businesses to upgrade or retrofit affected vehicles through grants and interest-free loans.

Tax

Chancellor Philip Hammond delivered his second Autumn Budget, exactly five months before Britain is due to leave the European Union.

The Chancellor was in bullish mood, asserting that the era of austerity is ‘finally coming to an end’ after a ‘long, hard journey’. However, he maintained that UK debt remains too high and highlighted the importance of continuing to reduce debt and borrowing. You can read our full Budget Summary here and also below reaction and comment from our Managing Partners in Leeds and the North East

If you or any of your contacts require any tax advice simply contact us on 0113 398 1100 or email leeds@hwca.com

Pensions

When did you last review your pension, finance and investments?

We recommend our clients to Tilney, one of the UK’s leading private client investment and wealth management company who provide top quality, solid and practical pensions advice You can sign up to their newsletter and financial planning magazine.

For pension and retirement advice, or to book a no obligation review, please contact Charles Coade direct on 0113 224 5544 or email charles.coade@tilney.co.uk or via our Leeds office as below.

We also support a wide range of businesses with online Payroll outsourcing. Our managed payroll services also make all necessary submissions to the tax authorities on your behalf.

If you feel you have comments, questions or thoughts on our Accounting Roundup please let us know – honest feedback is always welcome!