UHY Hacker Young (East)

🌟 Exciting News 🌟 We are thrilled to announce that UHY Hacker Young (East) has officially become part of TC Group! 🤝 This significant step marks a new chapter in our journey, enhancing our capabilities and reach. Marie Pegram, Managing Partner at UHY Hacker Young East, said: “I am thrilled to announce our joining TC Group, an innovative network that aligns perfectly with our forward-thinking ethos. I look forward to the new opportunities this brings to our firm!” Please follow TC Group on LinkedIn for the latest updates and future posts! You can also check out the full press release here: https://lnkd.in/ejYRz2Wp #WeAreTCGroup #Merger #BusinessAdvisors #Accountants #Growth

The Government's extension of the EIS scheme is welcome news for growth-driven businesses. However, it is important to comply with the scheme’s rules. The Enterprise Investment Scheme (EIS) has existed since 1994, replacing an earlier similarly targeted business expansion scheme. The generosity of the scheme makes it a form of state aid. When the UK was part of the EU, the scheme always had a finite life cycle with a so called ‘sunset clause’, whereby the scheme would end on a certain date if no action was taken to extend it. The sunset clause was due to take effect in April 2025, but earlier this year the Government announced a 10-year extension to 2035. This is great news for younger businesses looking to fund growth through external investment. While the scheme remains generous, HMRC has become increasingly vigilant in cases where they believe the relief is being abused. Read the full article: https://lnkd.in/enYKahaS #accountants #EIS #tax #investment #business #finance

It has been reported that taxpayers spent a total of 719 years and eight months on the phone to HMRC in the year to June 30, 2024. Under-resourcing continues to cause HMRC’s customer service to deteriorate, with the average call length to HMRC rising 19% in the past year, from 22min 41sec to 27min 2sec. Delays have increased by a further 5% from the previous quarter. These figures could be even higher as it only takes into account the 42% of calls received to HMRC that were handled by an advisor. The remaining calls were deflected, played a busy message or saw the customer abandon the call. Neela Chauhan, partner in our London office, says that long wait times make it more difficult for individuals and businesses to resolve issues with HMRC. Taxpayers also run an increased risk of receiving late filing and payment penalties as they wait to speak to HMRC regarding tax problems. Read the full article: https://lnkd.in/eUW2xJVM #tax #HMRC #accountants #business HM Revenue & Customs

Four reports published by the Charity Commission offer valuable lessons for trustees on improving governance, managing risks and protecting assets. When the Commission announces the opening of a statutory inquiry into a charity, it normally reports on the outcome of the investigation. The Inquiry Reports are available online and are useful sources of information on what can go wrong in a charity’s governance and areas that trustees should look out for and focus on improving if needed. Our article summarises the main findings of each of the inquiry reports, that were released in July and August 2024. https://lnkd.in/erbFAhru #accountants #charity #CharityCommission #finance #governance #trustees Charity Commission for England and Wales

Our second webinar on exit options for recruitment businesses explores management buyouts (MBOs). View it now… Designed to present you with a holistic overview, we shed light on every aspect: from the initial process and funding intricacies, to the raw realities of navigating an MBO and weighing the advantages against the drawbacks. This webinar originally took place on 24th October 2023. Our distinguished panel includes industry experts and a recruitment business owner who share invaluable insights, offering a blend of theoretical and on-ground perspectives. Watch the recording of this webinar to gain a comprehensive understanding of MBOs, assess their viability and equip yourself to make informed decisions for your business’s future. View the webinar: https://lnkd.in/exFvv38i #accountants #recruitment #webinar #MBO #exitstrategy #funding 

HMRC recently updated Inheritance Tax forms based on the former Office of Tax Simplification recommendations. So what has changed? The announcement made in HMRC’s August Trust and Estate Newsletter follows consultations with professional bodies, such as the Chartered Institute of Taxation (CIOT). Trustees must now use these forms, though old versions will be accepted until 31 December 2024. This change has been long overdue and, from initial use on some clients, the forms seem more relevant and user-friendly. Read the full article: https://lnkd.in/e69y3jfh #accountants #HMRC #InheritanceTax #tax #estates #trusts HM Revenue & Customs

A huge thank you to our friends at Moneypenny for this thoughtful and beautiful gift! 🎁 We are absolutely delighted to receive this stunning picture frame holding a memorable photo of our team accepting the Mid-Tier Firm of the Year award at the recent Accounting Excellence Awards 2024! This award is a true testament to the dedication, expertise, and hard work of our entire team here at UHY. The recognition means the world to us, and it’s even more special to have this memento, thanks to Moneypenny. We look forward to continuing our successful partnership with you. Here's to more milestones together! #Accountants #AccountingExcellence #TeamUHY #ThankYou 

We take a closer look at the Financial Reporting Council’s (FRC) review of listed company accounts and audit regulation… The FRC is focused on promoting trust and confidence in audit, corporate reporting and governance to maintain investor confidence and market stability. In its 2024/25 plan, the FRC outlines initiatives to enhance the quality of corporate reporting and audit. Read our full article, including the FRC’s key audit quality enhancement initiatives: https://lnkd.in/eqVmzkz2 #accountants #finance #FRC #audit #corporatereporting #governance

We want to say a huge thank you to the GI Outsourcing team for this fabulous cake that arrived at our office. This week UHY Hacker Young (East) won the Mid-Tier Firm of the Year category at the Accounting Excellence Awards 2024, held at the Roundhouse in Camden. Viewed as the UK’s number one awards programme for accountants and bookkeepers, the award recognises the hard work and commitment of our valued team members. The wonderful gift from GI Outsourcing really was the icing on the cake! #accountants #awards #thankyou #cake #calories

The amount of money raised for companies on the Alternative Investment Market (AIM) through secondary fundraisings has seen another sharp fall in the last year. In the last 12 months, just £1.18 billion was raised through secondary fundraisings, compared to £1.8 billion in the previous year – a drop of 33%. The fall could suggest that investors in AIM companies have been less willing to support AIM companies pursuing growth plans. This is part of a continued decline from a high of £6bn in fundraisings in 2021. Investors have been less supportive of UK shares over the last few years with the perceived risks since the Liz Truss Budget. More recently investors have begun to worry that AIM companies are going to lose their valuable inheritance tax exemptions. Read the full article: https://lnkd.in/egzQnsNh #accountants #AIM #investments #finance #tax