Posted: Mar 16, 2020
Expert:
Simon Brownbill

We will be teaming up with a charity founded by former rugby league players to kick off a mental fitness initiative for our staff. The initiative follows a review by partner and head of practice development Simon Brownbill, who is also among staff members to train as a mental health first-aider.

hurst-mental-health-initiative

In April, Manchester based Accountancy firm HURST will be running an event for its team focusing on the importance of mental fitness. It will be staged in partnership with State of Mind Sport, which was founded in 2011 by former RL players who had each faced their own mental health challenges.

HURST is also planning an event to encourage a more active workplace.

Simon said: “There are proven links between active, healthy workplaces and good mental health. “People in all roles and at all stages of life can be affected by mental health issues. We have strong values and want to ensure the wellbeing of our people by being able to support colleagues who may be affected, as well as to help tackle the stigma associated with mental health.

“However, this initiative is much broader than that. We want to look at how we can all become more resilient and positive, which we hope in turn will reduce the chance of colleagues requiring more acute support.”

Simon Brownbill Simon Brownbill, partner and head of practice development

Simon, along with HURST manager Katie Waud and payroll team member Siouan Oliver, has undertaken training with St John Ambulance. He has become a qualified mental health first-aider and Katie and Siouan have become mental health champions.

All three have now qualified to help colleagues and signpost them for further support if required.

Simon said: “As well as being the right thing to do, there are a number of benefits for the business as a whole, including better productivity and a reduction in sickness.”

Katie said: “The training was really insightful. The reality is that, in this day and age, people are more likely to require mental health first aid than physical first aid.”

HURST has invested heavily in physical first aid and in 2016 became one of the first office-based businesses in Stockport to install and train staff to use a defibrillator.

Feel free to contact us for more details on how mental health can be addressed in the workplace. Give us a call on 0161 477 2474 or email us by clicking here.

Expert:
Nigel Barratt

Our Corporate Finance team has found new owners for a fuel and lubricants business which has been run by the same family for nearly 100 years following two separate deals. Caldo Oils was founded in 1922 by five brothers – Austin, George, John, Leo and Walter Scott. The St Helens-based business was originally called the Caledonian Oil Company and changed its name in 1951.

hurst-finds-new-owners-for-fuel-and-lubricants-business

Its bulk fuels business supplying DERV, petrol, heating oils for home and industry, gas oil and tractor diesel for farms and off-road machinery, and kerosene for oil-fired ovens, heaters and lamps has now been sold to Cheshire-based NWF along with the Caldo trading name.

The business has facilities in Newton Abbot in Devon and Rhuddlan, north Wales, as well as in St Helens. The group’s other business, manufacturing coolant, antifreeze, lubricants and greases for vehicles and engines, has been rebranded as Multispec and sold to Aztec Oils, which is based in Bolsover, near Chesterfield.

The combined revenues of Caldo’s bulk fuels and manufacturing businesses were £8.1m in the year to June 2019. They employ 29 staff.

Financial terms of the transactions are undisclosed.

Following its acquisition, Aztec will oversee the site in Worsley Brow, St Helens, where manufacturing under Multispec’s Hallett Steam Oils brand will continue.

caldo_lubricants_filling

Nigel Barratt and Ryan Niblock of HURST Corporate Finance and Liz Gallagher and James Hamilton of HURST’s tax team advised Caldo Oils’ owners Michael and Tim Scott – grandsons of co-founder Walter – on the transactions.

Paul Johnson, Rachel Clarkson and Hollie Walsh, of law firm Ward Hadaway’s Manchester office, provided legal advice.

Ryan Niblock said: “Caldo Oils has a great history, a strong reputation for quality of service and reliability, and has been a long-standing client of our firm. It was a pleasure to advise on these deals which have provided an exit for the owners.”

Michael Scott said: “As a third-generation family-run business, I have had the opportunity to see the business evolve and both Tim and I feel these deals bring a very nice end to our journey with Caldo. We are confident that Caldo and Multispec have an exciting future with NWF and Aztec respectively.

“HURST has advised us for many years and we really value the support we have received from the corporate finance team and the wider firm.”

If you are thinking of your exit strategy and would like to discuss the different options, feel free to contact a member of our Corporate Finance team for a no-obligation conversation

Expert:

Brexit and beyond – we’re here to support you, which is why we have organised a series of international visits for businesses looking to make the most of global opportunities. In these turbulent times, it is important that businesses trading abroad (or looking to trade abroad) get the right advice and support.

brexit-and-beyond-here-to-support-you-hurst

As members of Prime Global – a global association of independent, like-minded accounting firms, we can connect you to the right people around the world, helping you drive your business forward.

We will be partnering with fellow Prime Global member firms to deliver a series of tailored events for businesses who wish to mitigate against any negative effects of Brexit and/or make the most of other international opportunities.

Here's what we have lined up: 

Doing Business in China 

Date: Thursday 7th November  
Time: 6.00pm - 9.00pm 
Location: Yang Sing, 34 Princess Stree, Manchester, M1 4JY

With a population of 1.4 billion, entering China, or tapping into its supply chain is something any international business or aspiring international business should consider. At this event, we will be joined by Stephane Grand, Managing Partner of SJ Grand Financial and Tax Advisory. Stephane specialises in providing financial and tax advice to foreign firms doing business in China, including ones with established operations and those buying or selling assets.

Register for this event


Doing Business in Australia 

Date: Tuesday 12th November  
Time: Individual time-slots available 

Australia is particularly attractive for clients looking at branching out to English speaking territories overseas. Robert Lissauer of Hall Chadwick Australia will be holding one-on-one session with business owners considering setting up down under. Robert will be providing tailored advice during these one-on-one sessions where business owners will have the chance to have specific queries answered.

Request time-slot

If you would like any guidance or support with setting up overseas, feel free to get in touch either by emailing us or by calling 0161 477 2474

 

 

Doing business in the Netherlands is a viable option for businesses looking to mitigate against any potential adverse effects of Brexit. With the new deadline of 31 October 2019 fast approaching, and a no-deal scenario looking likely, we are advising business owners to have contingency plans in place if they wish to operate/continue operating within the EU.

We understand that selling your business is one of the most important decisions you will make so it is imperative that you plan and get it right. To prepare business owners for this transitional period, we have designed a series of workshops which provide insight into all aspects of exit planning. The third in our series of workshops will cover everything you need to know about the exit process. Our head of Corporate Finance, Nigel Barratt will present alongside Ian Dawson, associate partner and Ryan Niblock, corporate finance executive.

Posted: Jun 14, 2021
Expert:

Staff at accounting and business advisory firm HURST have chosen a Greater Manchester hospice as their charity of the year for 2021.

Willow Wood

Willow Wood Hospice in Ashton-under-Lyne provides specialist care for adults with life-limiting illnesses from across Tameside and Glossop.

It has a 12-bed in-patient unit for palliative and end-of-life care, while its day services START (Support, Treatment, Assessment, Rehabilitation and Therapy) Clinic provides assessments and treatment for people living with a life-limiting diagnosis.

Willow Wood, which opened in 1999, makes no charge for any of its services and has running costs of £7,650 a day. Its patrons include comedian Justin Moorhouse and actress Julie Hesmondhalgh.

The hospice came top in a vote by staff at HURST after being nominated by trainee accountant Abby Carey, whose late mother was cared for at Willow Wood.

HURST has raised more than £60,000 for good causes in the past five years.

Partner Simon Brownbill, the firm’s director of practice development, said he hoped HURST would raise a significant sum during 2021 to benefit Willow Wood.

“COVID obviously presents a challenge but we are planning a range of fundraising days and other activities during the course of the year, including hopefully a return to our regular charity football tournament,” he said.

“We like working with local charities that impact a wide range of people and hope our contribution to Willow Wood will make a difference. It’s a tremendous charity which fully deserves our support.

“Our wellbeing team is working with Willow Wood to determine how best we can also support them with non-fundraising activity, such as volunteering.”

Elaine McConnell, corporate fundraiser for Willow Wood, said: “We are thrilled that HURST has adopted us as its charity of the year.

“The last 12 months has been a very difficult period for us. Our running costs are £7,650 every single day, and we are funded for less than 21 per cent of that figure.

“It’s amazing to think that eight out of every 10 patients are cared for by community donations, and knowing that we have HURST’s guaranteed support will help us maintain and develop that loving care for the people of Tameside and Glossop.”

Willow Wood is supported by more than 600 volunteers who help in its shops, gardens, reception and throughout the hospice itself.

Posted: Jun 9, 2021
Expert:
Liz Gallagher

A recently released report on capital gains tax (CGT) by the Office of Tax Simplification (OTS) has made several recommendations on the future of a tax, about which it says many people have limited awareness or understanding. The 30-day reporting and payment deadline for residential property disposals comes in for particular criticism.

capital gains tax advice

Although around half a million people need to report disposals each tax year, the majority will only be affected on a one-off basis. Reporting may be via self-assessment, 30-day reporting or the real time CGT service, so the OTS has suggested integration into a single customer account.

Residential property

The OTS considers 30 days to be a challenging requirement and has therefore recommended the reporting deadline is increased to 60 days. An alternative proposal suggests estate agents and conveyancers could be more involved.

However, HMRC may well resist extending the deadline given that over £1.3 million was raised in late filing penalties for the last six months of 2020.

Private residence relief nominations

The OTS found a lack of awareness of the nomination procedure for second homes, and recommends:

  • A review of the practical operation of nominations;
  • Raising the level of awareness of how the rules operate; and
  • Using a new, single customer account for nominations.

Some 1.5 to 2 million homeowners are estimated to benefit from private residence relief annually, although a common misunderstanding is to assume all private homes are exempt.

Divorce and separation

Divorced and separated couples do not incur any CGT on transfers between themselves for the tax year of separation, but very few are able to come to an agreement and transfer assets during this timeframe unless separation occurs near the start of the year.

The OTS therefore suggests relief be extended until the later of:

  • At least two years after separation, and
  • Any reasonable time set for the transfer of assets in accordance with a financial agreement.

Whether the government takes on board any of these suggestions may be unveiled in the anticipated autumn Budget.

Are you looking for advice on Capital Gains Tax? We can help. email inspired@hurst.co.uk

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