Barnett & Turner Accountants Ltd | Latest News
Chartered Accountants & Chartered Tax Advisers based in Mansfield, Nottinghamshire
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08 Dec Pensions come into their own

If you’re a business owner who’s ignored pension provision until now, the new regime should make you sit up and take notice, argues David Wilson of accountancy firm Barnett & Turner. In the past, it’s been hard to persuade some small business owners to take pensions and related guidance particularly seriously. Many may have had other investments and will have been relying on them to produce a suitable income in retirement. The restrictions in the pension rules and what you were able to draw down was certainly a psychological obstacle for a number of people. Since the change in the regulations earlier...

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01 Dec Could growth vouchers eventually grow on business?

Jonathan Wilson from accountancy firm Barnett & Turner reviews the recent growth voucher programme and wonders what lessons we can learn from its apparent lack of success. Back in January 2014, the government launched a ‘growth voucher’ scheme aimed at supporting small businesses. It was designed to help SMEs gain access to technical and financial advice and offered £2,000 if companies were to match the funding with their own cash. The idea was that small firms and start-ups would benefit from financial advice, assistance with business planning and marketing consultancy. Just the kind of boost that would allow them to take the...

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24 Nov Building for the future with bricks and mortar

Property investment can undoubtedly bring rewards, but it’s important to recognise the potential pitfalls too, writes Jonathan Wilson of Barnett & Turner. Although there are all kinds of possibilities when it comes to investing for your future, property understandably seems an attractive option for both individuals and businesses. It’s worth bearing a number of factors in mind though before taking the plunge with bricks and mortar. First of all, there’s no guarantee of a quick profit. You may well see a good return in the long run, but it’s important to be patient. It’s also not particularly wise to see property as...

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17 Nov Finding the accountant that’s right for you and your business values

How can you tell whether an accountancy firm is matched to the needs of your business? According to Jono Wilson of Barnett & Turner, it’s worth looking at the way in which they’re organised and whether they have a clear sense of the values of their business. Core values are very important in any business, but when you’re working in a professional capacity with a client’s finances, they take on a particular significance. If you’re considering which accountancy practice to partner with, it’s worth asking whether the firm has given serious consideration to the principles that guide their own business. On a...

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10 Nov Time to invest for the future

If you want your business to operate efficiently in the modern age, you need to embrace change argues Jono Wilson of Barnett & Turner. But how can you plan for the investment needed? Business life changes constantly and new competitive challenges come along all the time. Take communications, for example. If you’ve been trading for a number of years, you probably have a range of well-established channels with your customers. Often, in the past, we were used to face-to-face meetings, phone calls and so-called ‘snail’ mail. To the millennial generation, however, the world’s a very different place. Chat rooms and social networks...

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03 Nov Buy to let: still an attractive proposition?

If you’re someone who rents out residential property – or you’re considering it – it’s important to take stock of some important changes in the July Budget, writes Tracy Henson of chartered accountants Barnett & Turner. ‘Buy to let’ tend to be the three little words to make investors go weak at the knees. For a number of years now, becoming a landlord has been seen as a clever ploy. Indeed, people purchasing property with the aim of renting it to tenants have almost certainly been playing a significant part in the recent property boom. The Chancellor’s announcements in the July Budget,...

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27 Oct Start planning for the future with your accountant

Accountants do a lot more than simply crunch numbers, writes David Wilson of Barnett & Turner. They can be trusted partners who’ll help you draw up a compelling business plan. When I started out in the accountancy profession, business planning was not an essential part of life. The small businesses we dealt with didn’t recognise the importance of looking forward and planning for the development of their company. Times have changed and, today, business planning is very much an essential part of corporate life. Why the transition? Well, the most common reason to prepare a plan is to explain your business priorities, capabilities...

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20 Oct Why trusts are giving way to Family Investment Companies

For people with significant wealth, Family Investment Companies are now a more fashionable way of planning for the future, argues David Wilson of Barnett & Turner Accountants. Trusts have for many years been an option when looking at tax-efficient ways of planning for the future and helping children and grandchildren. Recent changes, however, have limited what you’re able to put into trust – in most cases to £325,000 in a seven-year period. This is one of the reasons we’re seeing more and more interest in Family Investment Companies (FICs) today, despite the fact that the concept has actually been around for...

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08 Sep Free up your time with professional, strategic support

Many professional services firms – including accountants – employ a ‘practice manager’ to oversee and co-ordinate their work. Plenty of companies in other sectors could benefit from exactly the same kind of approach, writes Jono Wilson of Barnett & Turner. An increasing number of accountancy and legal firms now employ a Practice Manager to look after the day-to-day running of their own business. It’s a recognition that it’s very difficult to focus on the priorities of clients and to deliver a seamless service, unless you have someone working behind the scenes to make sure that everything is running efficiently internally. In simple...

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01 Sep Prepare to share

Before May’s election, many businesses were uncertain about whether they would pursue shareholder status for key employees. Now, observes Tracy Henson of accountancy firm Barnett & Turner, there’s a definite flurry of interest. One initiative of the Coalition government back in 2013 was the introduction of ‘employee shareholder status’ or ESS. With Labour signalling that it was likely to scrap the provision – which allows staff to trade employment rights for equity – there was relatively little take-up. But with the election of a majority Conservative government in May 2015, companies now have a reasonable degree of certainty that the policy...

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