Specialist Sectors

Specialist Sectors

We have specialisms in a number of areas within our client base. 

By becoming a specialist in a particular client group, clients find we have an affinity with the specific issues that might affect them.

In addition we have experience in those sectors we know the problems that might arise and how to deal with them. 

Our specialist sectors include: (click on a sector name below to read more)

Agriculture
Charities
Chartered Surveyors
Consultants & Surgeons
Dentists
Family companies
Insurance companies
Legal practices
Medical practices
Property and land development

Agriculture
The practice deals with over 100 farming clients throughout Herefordshire, Worcestershire, Warwickshire and Shropshire.

Two of the partners, Bill Ballard and Douglas Dale are involved in running their own farming businesses and they both come from farming families in Worcestershire and Herefordshire respectively. 

Bill is also a committee member of the Institute of Chartered Accountants Farming and Rural Businesses Group. 

The practice has extensive experience in dealing with farmers and landowners and the commercial challenges that clients with roots in the agricultural and rural business sectors face.

We are also very much involved in succession planning for the farming family as well as dealing with all aspects of Inheritance Tax. 

Many of our farming clients have diversified into other activities in recent years and we have been providing not only commercial guidance, but also on such issues as VAT and Capital Gains Tax. 

We see our farming clients as being very important to the development of our practice. 

Charities
Charities and not-for-profit organisations are an increasingly important part of today’s society, as the number of charitable concerns is forever increasing.

The introduction of the new Charities Act in November 2006 has brought about many changes, but with our dedicated and professional staff, we are able to help our clients comply with the stringent compliance laws and the constantly changing regulations and complex tax treatments.

Our charity specialists are able to provide:

1. Independent examinations and audit exemption reports where applicable
2. Advice on compliance with Statement of Recommended Practice (SORP) 2005 requirements
3. Advice on gift aid and reclaiming of tax
4. Advice on VAT issues

With the continual developments in the regulatory environment, we aim to guide trustees and charity administrators through the maze of accounting and other legislation, leaving you with more time to develop your organisation and achieve your objectives.

Chartered Surveyors
We act for a number of Chartered Surveyors and therefore fully experienced in dealing with the accounting procedures and reporting requirements laid down by the Royal Institution of Chartered Surveyors (RICS).

In addition to the normal accounting and taxation services, we can also help with the following:

1. Advice on compliance with RICS – Rules of Conduct
2. Advice on formation of partnerships, LLPs and limited companies
3. Partnership changes and agreements
4. Pension planning

Our specialist tax and accounting knowledge means that we can deal with the ever increasing compliance issues faced by professional people, leaving you to concentrate on your business objectives.

Consultants
The practice currently deals with over 300 consultants, both physicians and surgeons in all specialities.

The rapidly changing medical arena due to the introduction of new providers and changing private practice vehicles, has meant further stresses in an already complex profession.  We can offer you advice on the formation of partnerships and companies to meet the new challenges.

Partner, Matthew Watson has worked with consultants for many years and understands the needs of the medical profession.  Through years of service, he has accumulated a wealth of experience in dealing with issues such as:

1. Advice concerning changes to Private Practice
2. National Insurance advice and deferment
3. Retirement planning
4. Pension planning

We aim to take care of the financial stress, so that you can concentrate on your specialist field.

Dentists
The dental industry is undergoing significant change with the implementation of the New Contract along with changes to VAT treatment of dental services from 1st May 2007.

Partners Douglas Dale and Matthew Watson deal with a number of clients in the dental sector, including dental associates and dental practices and are well aware that the latest tax laws and business strategies are often neglected in the deluge of other obligations.

In addition to the usual accountancy services, we offer advice on the following areas:

1. Partnership changes and agreements
2. Retirement planning
3. Pension planning
4. Business plans
5. Raising finance

With our extensive experience, we aim to help dental professionals at all stages of their career.

Family Companies
A family run business is typically one in which more than half the shares are controlled by members of the same family, or one that has been passed between generations.

There are clear advantages that come with running a family business, but there are also many personal and organisational challenges along the way which can be particularly difficult in ensuring that family companies survive through the generations. 

In the UK, over 75% of businesses are family companies so a large percentage of our clients are affected.  We therefore have a great deal of experience in dealing with problems that may arise and more importantly preventing problems before they occur.

No two family run businesses are the same, but with our in-depth knowledge built up through years of experience we can tailor our approach to suit the business and family involved.

Our aim is to work with you in the following areas:

1. Creating a common vision
2. Strategic planning
3. Establishing a governance structure
4. Succession planning
5. Inheritance tax planning

We understand the importance of communication, and it is often critical to have an independent, but approachable advisor on hand to guide you through situations as they arise.

Insurance companies
We have specialist experience in dealing with the accounting procedures and reporting requirements laid down by the Financial Services Authority (FSA).

For insurance companies, in addition to the normal accounting and taxation services, we aim to help with the following:

1. Completion of RMAR returns
2. Advice on client money rules
3. Partnership changes and agreements
4. Incorporation

Our aim is to take the burden of compliance issues from you, allowing you to concentrate on your business.

Legal practices
The practice has extensive knowledge in this area and is able to address the issues, obligations and reporting requirements specific to legal practices.

In addition to preparation of your financial accounts and tax returns for both the partnership and the individual partners, we will carry out an examination of your records under the Solicitors’ Accounts Rules and ensure completion of your annual report to the Solicitors Regulation Authority (SRA) 

We can also help with the following:

1. Mergers and acquisitions
2. Practice valuations
3. Business plans
4. Strategic advice
5. Advice on raising finance
6. Planning for retirement or succession

Being in partnership ourselves, we have first hand experience of the issues that may arise and are therefore able to offer you the right practical advice and support for your future success.  Your success is important to us.

Medical practices
The practice currently deals with over 30 medical practices

With the implementation of the New Contract, changes to the NHS Superannuation scheme and new VAT rules, we aim to transfer the administrative compliance burden to us, to enable you to concentrate on managing your practice.

We understand how important it is to provide medical professionals with tailored accounting, financial and taxation advice to suit your individual needs.

In addition to the usual accounts preparation and self-assessment work, we help and advise on the following:

1. Partnership changes and agreements
2. Retirement planning
3. Pension planning
4. Superannuation certificate completion
5. Accountancy and taxation aspects of property ownership

The partners have a great deal of experience with medical practices and between them aim to provide you with expert advice and support to enable you to run your medical business profitably and in a tax efficient manner.

Property and land development
There has been a rapid increase in the number of individuals and companies dealing in property and land development.  Whether this is a large or small project, it is essential to have good quality business and in particular tax and VAT advice.

From working with clients dealing in both commercial and residential property development, the practice has obtained a great deal of experience with the many issues that arise.

We aim to provide help with the following:

1. Advice on types of funding available to suit your individual needs
2. Raising finance
3. Budgeting and cash flow management
4. Advice on VAT
5. Advice and compliance with the Construction Industry Scheme
6. Stamp Duty Land Tax
7. Tax planning

Due to the highly complex VAT rules and high values involved, it is of utmost importance to seek professional advice at the earliest possible stage.