Insider – Newsletter April 2023
4th April, 2023
Finance sector increases female representation
Chancellor removes lifetime pension limit
Super-deduction replaced by “full expensing”
Our team of expert accountants, business strategists, tax specialists and auditors have worked with owners of a broad range of businesses at every stage of their development to grow, prosper and consolidate. In fact, we’re immensely proud that other accountants in Suffolk and UK-wide consult our tax saving experts for advice; we believe that speaks volumes about the depth of expertise and knowledge we possess.
…Again – thank you for all your kind help and attention. With best wishes.”
Patricia MI would like to take this opportunity to thank Mark for the help he afforded us in completing this year’s audit. As in the past our work was very much aided by the quality and clarity of his working papers.”
Paul CFantastic, thank you. I’m not used to this level of efficiency…”
Taff GA 3-year project including an unsuccessful low-profile marketing process, a proposed MBO that did not proceed and ultimately a successful sale to 3rd party. Negotiated and structured the final deal.
I would like to take this opportunity to convey my thanks and best wishes to you all for all the help and advice you have given me over the years. The service I have had from you has been first rate, and I would not hesitate to come back to you if my circumstances change.
Angelika VOwners were divorcing and wanted to dispose of the business promptly. Business was marketed for sale, a buyer willing to complete quickly was identified and deal agreed.
Helping a client to identify their personal and business goals, resolve their dilemma over the continuation or sale of their business and exit the business in a structured way, maximising the sale potential.
Advising on tax free extraction of profits for an active corporate client, saving approximately £300,000 in one year.
Thank you so much for everything you have done, you have been ace!”
Claire EAs always, a very good price for an outstanding service.
Tim PThank you for your letter last Friday… We really appreciate all the help given from Jacobs Allen.”
David FNegotiated deal and obtained the necessary finance by preparing business plan and projections to support £2m refinancing of the purchaser.
Following the sudden death of owner, worked with widow to reorganise business and keep in operation in preparation for sale. Successfully marketed and sold 2 years later.
Developing a scheme involving the retirement of a managing director of a farming company and the tax effective extraction of a freehold property involving a company purchase of own shares.
You guys are the bee’s knees!”
Jake BThank you for the meeting, you gave us great advice!”
Martin EStructured and negotiated deal with vendor, prepared financial projections for MBO team and carried out due diligence work.
Thanks very much for your advice Keith. It gave us plenty to think about and will help ensure that we are able to make the most of our savings and earnings”
Dave RAlison used to work for my accountants, Jacobs Allen, and I must tell her in this difficult time they have kept me informed all the time without me contacting them. It has been really helpful. I used to think they were expensive but I know someone who pays a lot more than me and has had no contact from their accountants. I am really impressed!
Fiona P – Pilates East AngliaMany thanks for all your hard work and I trust you and your team are keeping well.”
Rachel BMany thanks again for your excellent work this year.”
Elaine BArranged bank finance of £600k, prepared supporting financial projections, advised on tax implications and completed report to bank.
Chris, I wanted to thank you personally for all your help in finding a suitable Buyer as well as the advice provided along the way. I do not think we would have reached a successful conclusion without your input.
You invested the time to understand our requirements as well as the business and this enabled you to identify high quality potential Buyers very quickly. Once the Buyer was found, you negotiated on our behalf to ensure our requirements were satisfied. You were available day and night as well as during your days off which provided a huge amount of comfort to us in what was a real emotional rollercoaster. The service you provided was excellent and I would have no hesitation in recommending you to others.
When we wanted to sell our company, the wisest decision we made was to put our trust in Chris Kelly at Jacobs Allen. He made the marketing of the company very simple, talking us through each stage, and we ended up with a potential buyer. He then helped us navigate the process of selling and, again, he was always there with support and advice when we needed it. We would not hesitate to recommend his services to anyone looking to sell a company.
Mark HIt was lovely meeting you, Michael, you put us at ease and explained everything to us. We will definitely be using your company. Thank you so much for your time as this is a big step for me.
Linda PPlanning through the use of trusts for an individual to pass on to his children properties worth approximately £1m when completed and save inheritance tax of £400,000, also providing them with future income to fund higher education costs.
Negotiating with HMRC on the valuation of shares in a family company, saving the client approximately £270,000 of capital gains tax.
You are obviously very knowledgeable and able to relate your expertise in an easy to understand way. We will definitely use Jacobs Allen Chartered Accountants again and believe that it was a relatively small amount of money, well spent to have this financial and tax review.
Maddy RMany thank for the excellent service Jacobs Allen has provided to the Wentworth, and I hope we shall continue our association for many years.”
Michael Pritt, The Wentworth Hotel, AldeburghWe would like to thank you and your team for the outstanding service we have received over the years. I must, however, single out Carl for his personal efforts. His attention to detail and his ability to remember my history has been quite remarkable
John AEnabling an individual to assist her daughter to acquire a property, obtaining tax relief for some of the mortgage interest and allowing the property to pass into the daughter’s possession and eventually be sold without incurring capital gains tax or inheritance tax.
Business successfully marketed with a view to quick completion, in order to resolve a shareholder dispute.
Why am I not surprised to see such an admirable, thoughtful, organised mission from Jacobs Allen, to be there for everyone during this Coronavirus crisis?
I only thought yesterday that I would drop you a line and ask if we can keep going remotely as time at home brings helpful reflection and planning time often short-changed through busy lives.
Blooming well done everyone at Jacobs Allen!. Such an email exuding the humility we all need to more deeply reacquaint with as together we get through this wartime.
Stay well, stay safe and thank you warmly for your continued support!
Janice JThank you very much indeed. Your advice on VAT and other taxes has changed the financial landscape of my project significantly – for the better!”
Richard SAssisted MBO team in buyout including provision of MBO training. A few years later they decided to sell, and we approached several potential acquirers. Led protracted negotiations, managed the due diligence process and subsequently sold at a significant uplift on original cost.
Owners wanted to retire to spend more time with their grandchildren. Business was marketed for sale after the first COVID lockdown and subsequently completed in the last lockdown.
Planning a group reorganisation for a major corporate client, dealing with tax free exchange of shares and eliminating charges to tax on the transfer of assets within the group.
Many thanks for all of your help! You’re all such a friendly, helpful bunch!”
Mike AMany thanks as always for your excellent service.
Lynda W
May I take this opportunity of thanking you for all your guidance and the friendly manner you approached every challenge I threw at you.”
Pat LThank you very much for your diligent service again this year.”
David P (MBE)Celia, It’s been a pleasure working with you – thanks again for your support.
Ryan BHelping a client set up a new growth business alongside an existing business, advising on a structure that protects the existing business from inherent start-up risks, provides a ready made exit strategy and creates an environment for minimal additional tax liabilities for five years.
Putting together a scheme and obtaining Revenue clearance on it, resulting in the avoidance of Income tax and the minimisation of capital gains tax on the retirement of the founding directors from a company, involving the contemporaneous transfer of shares by way of gift and sale and company purchase of own shares.
Chris was able to find a company who were in the same industry and who wanted to expand the geographic area to increase sales. He obtained a good price for me and gave me the opportunity to have 6 months of wind down before retiring.
He is a very calm and patient man who has tremendous experience in a specialist area of business and is honest about the possible options. His valuation and negotiation skills with Heads of Terms etc were spot on. We had a few changes along the way, but they were dealt with calmly and promptly.
He introduced the lawyer for the legal side who was also excellent. A good team. I’m very happy that Chris achieved the sale of my business which I built from nothing over 18 years.
KevinKeith, we much appreciate the advice you yourself gave us when we first met you in early December 2023, and I also wanted to say to you how impressed I was with Celia – she was so clear, so helpful, so efficient ….and so nice!
Tony (and Ann) PMany thanks for this advice and your admirable concision; it is most helpful.”
Bruce BOutstanding service and knowledge. Very highly recommended. We met with Keith Senior for advice relating to starting a new business in Bury. Keith met with us for close to an hour at no charge and provided both a referral and excellent advice. Everybody we met has been a pleasure to deal with and we feel much more confident moving forward with our plans. You will be in good hands with this firm.
Joe ARobert has characteristically suggested a neat solution to the problem…”
Nicholas AWe used Chris to help sell our family business. He found us an international buyer and facilitated the whole process from beginning to end. He made it a simple uncomplicated process. His knowledge and communication were first class. I would definitely recommend Chris to anyone looking to buy or sell a business.
Mark HolmesThanks to Michael, he has managed my business account and tax returns for many years now. He has always been a pleasure to deal with and been both professional and empathetic. He is an excellent role model for your business.
Kathryn CMarketed business and obtained indicative offers. Negotiated and completed deal with the preferred multi-national purchaser.
Many thanks Carl. It has been a pleasure working with you and for all the help you have been.
Graham SThank you for your most helpful advice and explanations. Much appreciated… I would add that the lady who greeted me was very welcoming and considerate and there seemed to be a pleasant atmosphere in your offices, which was most reassuring. Thank you again for your help.”
Paul NWe have truly appreciated the advice and support provided to us by Jacobs Allen since April 2009, and will not hesitate to get back in touch if we need further services.
Stephen HOnce again many thanks for your work and prompt attention to my Returns.”
Mike BI chose to come to Jacobs Allen for advice as I felt you as Chartered Accountants were clearly knowledgeable yet very approachable, friendly and welcoming. To have all of my queries dealt with so professionally in a relaxed manner allayed any concerns I had about my tax affairs, past present and future. Your advice giving me a clear plan of the actions I have to take and your offer of assistance to put it into practice helped enormously in focussing my attention on building my business.
John HRenegotiated proposed deal to reduce up front consideration and eliminate requirement for bank finance. Carried out a limited scope due diligence assignment and liaised with solicitors to completion.
Assisting a client in extricating themselves from unsuitable banking arrangements and working with them to produce a business plan to enable them to trade cash positively in the future.
Thank you so much Jaclyn & thank you also to Jacobs Allen for helping me to sort out my taxes.”
Jill MThank you all for your very kind card which it was lovely to receive. Best wishes.”
Pat MA big thank you to Sheila and her husband for delivering my documents safely. It was very kind of them, especially after working all day. Thanks for offering that service!
Pat GI did interview several accountants with my Father and most definitely you stood head and shoulders above the rest. We absolutely made the right decision that day. Thanks for everything, Robert, and best wishes to you.”
Shawna K