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Family business – Looking to the future

Armstrong Watson has recently concluded a survey to help us identify the issues and opportunities facing family businesses when they decide to look to the future.  Whatever the size and structure, the main objective remains similar, with a clear focus on providing a desired lifestyle for those close family members. Family businesses are unique and there is not a magic formula to make succession easy or decide on the best exit strategy.

The future of family businesses

Family businesses have long been an important part of the UK economy, and it is undoubted they will provide the foundations for increased growth and innovation in the business marketplace for many years to come. If you talk directly to family business owners, they are frustrated by being labelled as OMB’s and SME’s, so surely now is the time to call them what they really are, owners of successful family businesses.

Making tax digital - a tax revolution?

What is it?

This has been described as the biggest change to business administration since the introduction of VAT in 1973. HMRC has issued consultation documents which will abolish the annual routine of completing a Self Assessment Tax Return. Instead information will be submitted to a Personal Tax Account throughout the year.

State Pension impacts for men and women

In last month’s edition, our article titled: Getting your state pension forecast proved very popular, so we wanted to explore this topical subject further.

For many, the state pension alone will not be enough to fund a comfortable retirement lifestyle, but how much you need is down to each individual. Here we look at the differences in State Pension entitlement for men and women dependent upon age.

Armstrong Watson’s new Forensic Accounting Service will provide bespoke support

Armstrong Watson is delighted to announce a new forensic Accounting division, which will offer the full range of forensic accounting services.

Cumbria no longer ‘keeping it in the family’ - free spaces available to Cumbrian family businesses

As an area known for its outstanding beauty and tourism industry, it’s no surprise that Cumbria is host to a huge range of family businesses many of whom stand on the global stage. The county is set to become a hub for family businesses from across the country as it hosts The Family Business Conference at the Rheged Centre in Penrith on Wednesday 12 October. Family businesses from inside the county are eligible for one free space and are being encouraged to capitalise on the opportunity.

Mitchell Dryers Limited – Update as of 09.00 Friday 30 September 2016

Mitchell Dryers Limited – In Administration (‘The Company’)

Update as of 09.00 Friday 30 September 2016

It is with regret that the Joint Administrators of Mitchell Dryers Limited announce the redundancies of 27 of the 32 staff employed by the Company.

What are warranties?

Thank you to Tim Gower, Solicitor, at berg who has written this article for us on what exactly a warranty is.
 

A recent High Court case has clarified what exactly a warranty is. The facts and context of the case were quite technical, but stripped back, the below explanation of what a warranty is should prove quite useful.

Mitchell Dryers Limited – In Administration

Mitchell Dryers Limite entered into administration on Wednesday 21 September 2016. The joint administrators, Mike Kienlen, Daryl Warwick and Mark Ranson of Armstrong Watson were appointed by the directors.

Mitchell Dryers Limited is a privately owned engineering company with a history dating back to 1859.  The company has specialised in the field of industrial drying for the last 80 years, manufacturing a wide range of equipment from its premises in Carlisle, Cumbria.

Mike Kienlen comments:

Is Airbnb fuelling the housing crisis?

Thank you to Tom White, Associate, at berg who has written this article for us on Airbnb, a digital marketplace which recently came in for criticism for ‘compounding the housing crisis’.