Latest News

HMRC accessing bank accounts – should you be worried?

Once the Finance (No 2) Act 2015 receives Royal Assent (likely to be in late September or early October), HM Revenue & Customs (HMRC) will gain powers to collect tax debts directly from taxpayers’ bank accounts.

The debts affected by this include any tax liability, penalties, interest, overpaid tax credits and amounts included in an Accelerated Payment Notice.

HMRC have said that these powers are aimed for those who won’t pay rather than those who can’t pay, and as such there are certain safeguards which have been put in place.

One of the most effective ways to boost law firm income – if implemented properly

I was recently asked to present a training session on cross-selling to a law firm client of mine. I’ve deliberately not used that terminology in the title of this article as I don’t think the term cross-selling helps lawyers at all, as I will explain shortly, but the concept should.

In order to generate work for the firm as a whole when clients instruct a particular fee earner or department, three things are required.

TeamSport races to acquire longest indoor karting track in Yorkshire

The Yorkshire Corporate Finance Team at Armstrong Watson has successfully led the disposal of the Pole Position Indoor Karting (“PPIK”) business to Teamsport, Europe’s largest indoor karting operator for an undisclosed sum.

Located in Hunslett, the venue will undergo a major re-brand and refurbishment and will take the company’s existing 13 tracks to 14 as part of its continuing UK expansion.

How important is price to clients?

Recent developments are pushing the legal sector towards the two Cs – Consolidation and Commoditisation.

Probate and estate administration

The time after losing someone close to you is always difficult.

There are a lot of administration requirements following a death, and it can be very confusing and painful to deal with when you are also grieving.

Many people are reassured by having someone they trust assisting them with these duties, in order to enable them to be able to focus on their family whilst knowing everything else is being taken care of.

Administration requirements following a death

The process involved in estate administration includes:

Greek Gods?

If the current standoff ( pre-referendum) was not so serious, it would be funny. It reminds me of a Marx Brothers film from the 1930s, in which Groucho said “he did not care to belong to any club that allowed him to be a member.”

It has been entertaining watching the Euro elite grappling with the profligacy of their Mediterranean club member, and last week, we saw Jean Claude Junkers, the EU President, reduced to tears pleading with the motorbike riding leather clad Greek Finance Minister Mr Varoufakis.

Financial forecasting; pie in the sky or a useful tool for gaining a bigger slice of profit?

Whether you are preparing a business plan for your ABS application or simply attempting to gain some idea of your income and expenditure over the next couple of years, you’ll need to get involved in financial forecasting.

Law Society Financial Stability Toolkit

Buy the Financial Stability Toolkit book by Peter Scott from The Law Society and Andy Poole from Armstrong Watson.

Five reasons for couples to include a trust in their wills

If you're reviewing your will, or maybe even writing one for the first time, you may not have thought of including a trust in it. There are several reasons couples may wish to include a trust in their will, from historical practice to forward planning. Here are five reasons you may wish to consider including a trust in your will that you may not have thought of.

Three small changes that could save you a lot of time

In this modern world almost everything happens quicker than ever before, and the old adage ‘time is money’ couldn’t be more true! I say ‘almost everything’ because there’s one thing that consistently takes many a consistently long time; filing a tax return. If you spend too long dealing with your accounts and tax return, you’re not alone.