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Latest news from Ballard Dale Syree Watson Bulletin - December 2009 available nowClick here to download the PDF version of the December 2009 Bulletin newsletter from Ballard Dale Syree Watson. NB If you need the free Adobe Acrobat reader software you can download it from here.
Surgery development master class for GPs (05/10/09) An alliance of legal and financial experts are holding a seminar designed to assist GPs and Practice Managers involved in the development of surgery premises. Accountancy firm Ballard Dale Syree Watson, commercial property consultants GVA Grimley, Lloyds TSB Commercial and legal practice Veale Wasbrough have pooled their expertise. Consolidating their experience in the arena of health care, the four organisations are able to offer step-by-step advice to those considering a new surgery development scheme. The seminar takes place 21 October at Worcester RFC and offers a lifeline for those in general practice in the field of surgery development. Surgery premises are GPs most valuable asset and need to be fully utilised. A decade ago the primary objective of a GP was to deliver the very best levels of health care to patients; there was no competition and therefore no consideration of the commercial world. A few years on, after the introduction of the ‘new contract’, GPs face an increasingly competitive world. They need to be more commercially focused or suffer declining revenue and profits; all likely to be exacerbated by cuts in public spending. From planning to delivery, the seminar has been devised to help delegates with every stage of the financially and legally complex process of surgery development; from funding to capital gains tax implications. Matthew Watson, a partner in Ballard Dale Syree Watson, has successfully serviced a range of clients in the health care sector, and believes the seminar offers a huge resource of legal and financial guidance in one intensive morning session. “GPs have a fantastic commercial opportunity to develop their surgeries. As well as enabling them to deliver far more ‘enhanced’ services; improving patient access, other benefits to be derived such as economies of scale and resource efficiencies will help them to reduce operational costs. “Developing a surgery to include multi-use consulting rooms and minor surgery suites is definitely the way forward. The ‘polyclinic’ type model will also attract high calibre medical professionals to improve the quality of health care provision as well as extending the range of services on offer:” concludes Mr Watson. Ian Crompton, head of healthcare banking services for Lloyds TSB Commercial, said: “This event will be a great opportunity for GPs to draw on the support available and discuss key issues affecting the sector. “There is a lot of change going on in the NHS at the moment and GPs have some big decisions to make. One of the biggest is whether to develop premises themselves or simply rent from a third party. By taking a proactive approach and making use of the guidance from their advisers and banks, GPs can make an informed choice and pursue the strategy that suits them best. “Here at Lloyds TSB Commercial we have a specialist team dedicated to providing banking facilities for healthcare businesses, offering tailored funding packages to match their needs.” For further information on the Developing Your Surgery Seminar contact, Emma Warr at Veale Wasbrough on 0117 314 5406 or click here. Bulletin - August2009 available now HM Revenue and Customs issue warning Click here to read the article on the HMRC website. Bulletin - Farming edition summer 2009 available now Bulletin - Budget 2009 available now Annual Investment Allowance As we draw to the end of another tax year and for many farmers the end of their accounting period it is time to review your plans for capital expenditure and the timing of purchases. Along side the withdrawal of the Agricultural Buildings Allowance, a blow for many of you, we have the new annual investment allowance. Farming companies with a March year end have an annual investment allowance of £50,000 for the year ended 31 March 2009. Unincorporated businesses get the full allowance if their year end is 5 April 2009. For purchases covered by the annual investment allowance businesses get a 100% deduction against their profits for tax in the year of expenditure. The question is should you bring forward planned expenditure. It is certainly worth considering for a number of reasons:-
You should take advice before advancing a capital purchase as not all purchases will qualify for the annual investment allowance and there are other factors that determine the amount of allowance due to you such as your year end and the existence of connected companies or businesses, but it should certainly be considered. If you have any queries please do not hesitate to contact us. Bulletin - Future of Farming available now Bulletin - Autumn 2008 available now Bulletin - Summer 2008 available now Bulletin - Spring 2008 available now Bulletin - Winter 2008 available now Sparing partners! - 26/10/2007 For many, the lure of running a business is based on the potential financial rewards. For others it is the independence and flexibility factor, but there are those who may be faced with the anxiety of redundancy, and feel it is their only option. Veronica Parkes, took a calculated risk at 44, giving up a successful career as a senior manager for Walkers Snack Foods, part of the global PepsiCo group, to pursue her ambition in opening a day spa. Her dream will soon become a reality as at the end of November, Veronica will launch her own, fully equipped and operational day spa in Droitwich. She would admit that her footsteps would not have been so self assured without the aid of a robust safety harness provided by her accountants.
Droitwich-based accountancy practice Ballard Dale Syree Watson LLP has helped hundreds of people, just like Veronica fulfil their business ambitions, but there are many things to consider when making that initial decision. Founder member Bill Ballard says: “The critical ingredients that we can’t help with, when a person starts their own business, are commitment, enthusiasm and determination to succeed, but we can help with everything else. “Accountants have to be far more commercially aware these days and offer the entire range of business start-up support services. Whilst we still have our traditional services such as book keeping, payroll and taxation, there other operational factors to think about. “Finance for example is one of the most important things when you start working for yourself. We have the experience in understanding the financial needs of certain types of businesses and can help to tailor financial packages to suit the needs of individual clients. For example issues such as seasonality can lead to erratic cash flow and that can be worrying to a person who’s lived with the comfort of having a regular income.” As Veronica busily prepares to open the doors of her day spa at the end of November she commented: “Ballards have given me their stalwart support and not just in helping me with cash flows and implementing good accounting practices. They’ve signposted me to the best financial help in terms of project funding and other legal professionals like solicitors for example. “They have even introduced me to graphic designers and marketing people. I would urge anyone starting their own business get the right people at the inception of a new venture as it can be a precarious and lonely path to tread alone.” |
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