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News & Blogs

Assumptions can be expensive!

The First-Tier Tribunal (FTT) refused an application for a late appeal even though HMRC had not copied a notice to the taxpayer’s agent.  The FTT held that it was the taxpayer’s responsibility to make a timely appeal based on previously decided cases. It appears that at some point during the enquiry into the taxpayer’s...

Date: 18th July, 2016   |   Author: Cathy Corns   |   Comments: 0


The darling buds of May…..

So what can we expect on tax going forward? Based (solely) on Theresa’ Mays recent speech in Birmingham it looks like more, possibly considerably more, of the same.  The highlights and lowlights for me were: - we believe in a low-tax economy, in which British businesses are more competitive and families get to keep more of what they...

Date: 15th July, 2016   |   Author: Cathy Corns   |   Comments: 0


The provision of workers in the public sector - a summary of the proposed changes

The draft legislation on the provision of workers to the public sector is not included in the 2016 Finance Bill, rather the Government has issued a Technical Note (TN) with a view to introducing legislation in 2017. There seems to be an acceptance that the current “IR35” provisions requiring people operating through Personal Service...

Date: 14th July, 2016   |   Author: Cathy Corns   |   Comments: 0


The provision of workers in the public sector - a summary of the proposed changes

The draft legislation on the provision of workers to the public sector is not included in the 2016 Finance Bill, rather the Government has issued a Technical Note (TN) with a view to introducing legislation in 2017. There seems to be an acceptance that the current “IR35” provisions requiring people operating through Personal Service...

Date: 14th July, 2016   |   Author: Cathy Corns   |   Comments: 0


Corporate restructuring during the proposed moratorium

Mercer & Hole has, for many years, championed the benefits of creating a breathing space during which a financially stressed business can seek to invoke a real restructuring and avoid formal insolvency. While an insolvency process may become a necessity both to protect the creditors’ interests in any residual assets and to protect the...

Date: 13th July, 2016   |   Author: Henry Page   |   Comments: 0


Purchase price and working capital adjustments in M&A transactions

On an acquisition, it is usual for the initial purchase price offered to be stated on a 'debt-free cash-free' basis.  In simple terms, this means that any cash in the business is retained by the seller and that all debt is repaid by the seller upon completion. Most deals also involve a purchase price adjustment mechanism in...

Date: 13th July, 2016   |   Author: Ross Lane   |   Comments: 0


Caveat emptor?

Or to put it more colloquially – make sure you are not buying “a pig in a poke”!  If you buy a company, you take over not only its trade, assets and goodwill but all of its history, including any skeletons in closets. The sellers may not realise they have a problem - which makes unearthing details and disclosure somewhat...

Date: 13th July, 2016   |   Author: Natalie Taylor   |   Comments: 0


While every accelerated M&A is different, finding the right adviser is always essential

Buying and selling a company or business, often referred to as an M&A (mergers and acquisitions) transaction, typically takes several months to prepare and execute. But sometimes you just don’t have several months. If cash is running out and the transaction needs to be accelerated, more specialist skills and experience will be required to...

Date: 13th July, 2016   |   Author: Chris Laughton   |   Comments: 0


Managing Change

Evolving businesses require change as they develop and the extent of change and the actions necessary need to be continually addressed by a company’s directors. It makes commercial sense! A change in approach will arise from either a vision for the better future for a business, or to resolve problems that are preventing a business from...

Date: 13th July, 2016   |   Author: Steve Smith   |   Comments: 0


M&H Financial Planning shortlisted for Retirement Adviser of the Year

Mercer & Hole Chartered Accountants are delighted to announce that M&H Financial Planning is a finalist in the Retirement Adviser of the Year category in the Investment Life & Pensions Moneyfacts Awards 2016. Director of Financial Planning, Iain led the entry for the awards, completing a detailed questionnaire on the level of the...

Date: 12th July, 2016   |   Author: Natalie Taylor   |   Comments: 0


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