Barrie Kenyon Features on the ACCA Online

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Barrie Kenyon of Green & Co speaks to the ACCA online about how accountants can adjust to working long hours during busy periods.

Deloitte’s global 2016 Millennial Survey shows that when salary and other financial benefits are removed from the equation, good work/life balance stands out as the primary factor when evaluating job opportunities.

But what Millennials want and what they can get is not always the same. Many struggle to find jobs that they would be entirely happy with and have to contend with working long hours.

Read more here…

Some Employee Perks Are Being Lost and It Could Be Costly

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Green & Co feature in the South Wales Argus discussing the tax changes for employee perks.

The new tax year has seen a raft of changes, with more legislative reform scheduled to come into effect over the next few years.

From changes in dividends, stamp duty, and national insurance (with a U-turn thrown in for good measure) the way that people are taxed is an ever-evolving landscape. However, it’s not just directors, landlords and the self-employed who have been targeted with new legislation.

Barrie Kenyon, partner at Green & Co Accountants and Tax Advisors said: “From 6th April, the tax and employer national insurance advantages of a salary sacrifice or salary exchange scheme was removed. This means that any employees who have swapped their salary for benefits, which typically include additional holiday days, will now pay the same tax as if they were buying them out of their post-tax income. The Chancellor, Philip Hammond, announced the changes in the autumn statement believing the previous schemes were unfair. From earlier this month, they have started to come into effect.

“However, these changes do not affect those employees who have reduced their salary for pension contributions, childcare purposes such as vouchers, workplace nurseries or directly contracted childcare, the cycle to work scheme and ultra-low emission company cars with co2 emissions of or less than 75g/km.

“The schemes were seen as attractive to both employees and employers, with reduced tax liabilities benefiting both parties.”

Mr Kenyon stressed that there were some caveats that accompany the changes: “If any arrangements which were in place before April 2017 relate to cars with co2 emissions over 75g/km, accommodation or school fees: these arrangements will be protected until April 2021. Also, other arrangements agreed prior to April 2017 that do not fall into the aforementioned categories will be protected until the end of the current tax year in April 2018.”

It is estimated that millions of workers from across the UK will pay more tax due to these changes, with the Treasury believing that these schemes are costing too much in lost tax receipts and national insurance contributions. It is estimated that the reform will cost employers in the UK around £85M this tax year, whilst increasing another £260M by April 2021 when the full changes will come into effect.

If you are worried about any of these forthcoming changes, please contact us at Green & Co for further help and guidance.

Green & Co Accountants and Tax Advisors specialise in business growth and tax minimisation for businesses across Wales and the South West of England.

For proactive advice, contact Green & Co Accountants and Tax Advisors on 01633 871 122, follow @Green_and_Co on Twitter or email barrie@greenandco.com.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

South Wales Argus Features Another Highly Successful Landlord Forum

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The South Wales Argus highlight another highly successful Landlord Forum, held at the end of March. Green & Co’s own Leanne Flanagan opened the evening in front of another large crowd.

Property landlords from across South Wales received advice and support in light of the recent budget as part of the bi-monthly Gwent Landlord Forum.

The event, held by Cwmbran-based Rubin Lewis O’Brien, Green & Co Accountants and Tax Advisors, and lettings agency SerenLiving, took place at the Parkway Hotel.

You can read the whole article here.

If you are interested in attending our next Landlord Forum, due to be held on May 31st, please get in touch now to register your interest.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

Barrie Kenyon Features In This Weeks South Wales Argus

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Barrie Kenyon of Green & Co features in this weeks South Wales Argus discussing how some changes in the new tax year will effect employees as well as employers.

The new tax year has seen a raft of changes, with more legislative reform scheduled to come into effect over the next few years.

From changes in dividends, stamp duty, and national insurance (with a U-turn thrown in for good measure) the way that people are taxed is an ever-evolving landscape. However, it’s not just directors, landlords and the self-employed who have been targeted with new legislation.

To read the whole article, please click here.

Proposed NIC rise has been dropped!

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As mentioned in the recent Budget, the Chancellor had intended to increase the Class 4 National Insurance Contributions (NIC). The NI rate for the self-employed (Class 4) was meant to increase from 9% to 10% in April 2018, followed by another rise to 11% in April 2019. This would have brought NIC for the self-employed more in line with the employment rate, which is currently 12%.

Today, however, the Chancellor Philip Hammond has made a complete u-turn, announcing that the government will scrap the increase. This action has been taken because many feel the change would break the manifesto promise not to increase National Insurance, Income Tax or VAT.

Chancellor Hammond has explained that “it is very important both to me and to the Prime Minister that we are compliant not just with the letter, but also the spirit of the commitments that were made. In the light of what has emerged as a clear view among colleagues and a significant section of the public, I have decided not to proceed with the Class 4 NIC measure set out in the Budget.”

This means that the 4.8 million Britons who are currently self-employed  can rest assured that, for now, the Class 4 NIC rate will stay at 9%.

If you have any questions regarding this change, or any of the other changes announced in the Spring Budget, please don’t hesitate to contact us.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

 

Accountancy firm develop its own software in bid to perfect service to clients

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This weeks edition of the South Wales Argus features an article on the development of our own software.

An accountancy firm has developed its own software suite in order to help businesses manage their taxation and finances better.

Cwmbran-based accountancy firm Green & Co Accountants and Tax Advisors has spent over two years researching what their clients need ahead of what is a busy few years of legislative changes.

The software suite is comprised of three facets; an income tax forecaster, a financial performance review and a prosperity dashboard.

Barrie Kenyon, Partner at the firm, said: “Recently, the government has made a number of adjustments to the tax system that are all coming into effect across the next three to four years such as the changes to mortgage interest relief and company car benefit. We want our clients to see how the changes in legislation will affect them so we can reorganise remuneration in a tax-efficient way.”

With Green & Co’s software suite, clients can use the forecaster to analyse the current taxable income and see what future liabilities will be for the next five years.

Explaining the financial review element of the software, Mr Kenyon said: “Some clients may not be able to fully understand the numbers thrown at them from the accounts. It is important that they know how to digest the data from key performance indicators of how the business is performing. Our graphical analysis helps clients understand how the business has been performing year-on-year and it is something we can help them work through and improve upon.

“Our prosperity dashboard reviews the business’ progression toward set goals whilst affording directors accurate up-to-date information as opposed to waiting until year-end accounts are produced.”

The theory behind the software is to provide businesses with real-time information in order to make quicker and better-informed decisions regarding the performance, direction and sustainability of the business.

Mr Kenyon continued: “As with everything we strive to achieve, our end goal is to help build a stronger business for our clients whilst increasing profit and reducing liabilities.”

Green & Co Accountants and Tax Advisors specialise in business growth and tax minimisation for businesses across Wales and the South West of England.

For proactive advice, contact Green & Co Accountants and Tax Advisors on 01633 871 122, follow @Green_and_Co on Twitter or email barrie@greenandco.com.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

The Big Question: How do you motivate your staff to keep fit?

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Green & Co’s Barrie Kenyon answers the South Wales Argus Big Question this week.

As the end of January approaches, many resolutions have already fallen wayside.

People start the year with great intentions promising to get fit and do more exercise but after a few weeks, they abandon their plans.

Business Argus has been asking the local business community how they help motivate and encourage their staff to be fitter and healthier?

Accountancy firm expands with partner appointment

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Green & Co feature on the Business Insider Wales website:

Green & Co Accountants and Tax Advisors has appointed Barrie Kenyon, 30, as partner.

Mr. Kenyon has been appointed to the Cwmbran-based business as it continues impressive growth and it looks to build on recent successes.

Having started at the firm 10 years ago and qualifying as a chartered certified accountant, Mr Kenyon has built a wealth of experience in all aspects of accounting.

Speaking of his appointment, Mr Kenyon said: “I am very grateful to Ed and Nick for providing me with the necessary training and support to further my career. I have thoroughly enjoyed working for Green & Co for the last 10 years and I’m looking forward to the new challenges this position will bring. We are always looking to expand our services to support our clients, most recently we have started providing probate services and research and development tax relief services. It’s a very exciting time to be part of the team”.

Ed Gooderham, director said: “Both myself and Nick are delighted to welcome Barrie as the newest partner at Green & Co. Barrie has been a valued member of staff for a decade and his hard work and determination has seen his career with us grow from strength to strength; this partnership was a natural step for Barrie’s progression. We are sure he will succeed and continue to provide proactive advice and help our clients minimise their tax.

Green & Co was formed in 1993, in this time they have bought and developed Pembroke House into high-quality office accommodation, with staff numbers having doubled. Over the past two years the business has increased, with Green & Co Farms and Green & Co Doctors, both enjoying impressive growth.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

Landlord forum to discuss legislative changes and holiday lets

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This weeks edition of the South Wales Argus features an article on our Gwent Landlord Forum.

Cwmbran-based Green & Co Accountants and Tax Advisors, QualitySolicitors Rubin Lewis O’Brien and lettings agency SerenLiving are set to hold the latest Landlord Forum on Wednesday 28th September; hosting key speakers who will give informative talks to current and potential landlords in South Wales.

The evening, which starts from 6pm, will be held at the Parkway Hotel in Cwmbran and will feature two expert guest speakers who will present on current developments within the private lettings sector. Topics will include the legislative changes that landlords in Wales will soon be facing and holiday lets.

Due to both speakers having a lot to cover organisers have decided to keep the number of speakers at two for this event.

The first speaker will be Douglas Haig, Residential Landlord Association (RLA) Vice Chairman and Director for Wales, a private sector association who offer tailored support for landlords. Mr Haig will be discussing the upcoming legislative changes and the impact these will have on landlords.

The second speaker will be Phil Hathway of Hathway Estate Agents who will be discussing holiday lets.

Katie Williams of Green & Co Accountants said “We hope the event will be another success and that all landlords will be correctly informed on the changing legislation and the opportunities surrounding holiday lets. The forums are a great way to communicate with private landlords.

“We hope to help spread the word of bodies such as the RLA and the important service that they can offer landlords.”

Penny Jarman of QualitySolicitors Rubin Lewis O’Brien said the forum aims to build an ethos of support: “We want landlords to be as informed as possible when it comes to the continual changes in legislation and the different opportunities that are available within the rental market. We hope that through the forum all landlords are continually updated on the ever changing legal and administrative aspects of the buy-to-let market.”

Green & Co Accountants and Tax Advisors specialise in business growth and tax minimisation for businesses across Wales and the South West of England.

For proactive advice, contact Green & Co Accountants and Tax Advisors on 01633 871 122, follow @Green_and_Co on Twitter or email ed@greenandco.com.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

Get In, Go Far with Apprenticeship Schemes

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Since May of this year, the government’s ‘Get In Go Far’ advertising campaign has sought to encourage more young people to consider an apprenticeship. The four year campaign is in line with the government’s commitment to create 3 million apprenticeships by 2020.

The aim is to inform and inspire young people to consider apprenticeship as a credible route to a rewarding career, while at the same time encouraging employers to run apprenticeship programs.

Can your business benefit?
Hiring an apprentice could provide many benefits to an organisation, offering employers the opportunity to diversify their workforce and provide a pipeline for future talent aimed at their business needs. Apprenticeships are for ambitious people of all ages, who can learn while gaining real skills on the job.

For more information on hiring an apprentice, visit www.getingofar.gov.uk and see the ways your business could benefit.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.