In Focus Full Service Edition

We have published in focus magazine for many years now, designed to share technical articles in an easy-tounderstand style, give updates from the government, HMRC and other governing bodies, highlight local business news snippets, as well as share our own news and CSR.

This services edition is all about what we have to offer to our clients – we refer to it as the ‘Full Monty’ as we are more than just an accountant.

If I can explain, the Full Monty came about from an idea for a “spoof” video for the Gloucestershire Business Awards. As headline sponsors we wanted to show that we are professional and knowledgeable accountants who take your business seriously but that we also have a fun side! So we used this forum to show that we do a ‘full monty’ of services – we didn’t actually do the Full Monty in the video – or did we? You will need to watch the video on our website to know for sure.

But in all seriousness we are more than just an accountant who ensures your business is compliant, we are Business Advisors, Tax specialists, Auditors, Management Accountants and Cloud Accounting experts, as well as being Academy specialists. This issue gives an insight into our services, and the full

details can be found on our website or can be discussed in more detail with any member of our expert team.

Contact us on 01242 776000 anytime to be greeted by our helpful, friendly receptionists, Kaye and Mel, who are more than happy to help direct your call.

Or alternatively ask for Jo Kline, our Client Experience Officer, who is here to listen. Jo has been with us for 10 years and works in our Marketing team, and backfills the reception team, so has knowledge of all that we offer and is experienced at looking at ways to improve what we do, whether for our clients or internally. So if you want to talk anything through, or find out how we can help you, without feeling obligated, she is more than happy to chat.

We hope you enjoy finding out more about us and agree that we live up to our aim: we make your success our priority.

Tim Watkins

Managing Partner

Will abbott Partner Specialism: Business Advisory

rob case

Partner Specialism: Tax & VAT

ollie newbold

Partner Specialism: Corporate Finance

ryan Moore

Partner Specialism: Audit

nikki cairns

Partner Specialism: Accounts

Shaun pegler

Partner Specialism: Accounts

James Geary

Partner

Specialism: Corporate Tax

Ben Burch

Client Director

Specialism: Audit

nicholas Gratton

Client Director Specialism: Accounts

Subscribe at www.randall-payne.co.uk/ news/subscribe-to-in-focus

T: 01242 776000

E: marketing@randall-payne.co.uk

randall-payne.co.uk

@RandallPayne Randall & Payne LLP

Chargrove House, Shurdington Road, Cheltenham GL51 4GA

printed on carbon captured paper.

Supporting the

Welcome to the service edition which will show you everything we do under one roof.

P

T IME FOR YOU ! ask expertsthe

Free Advice Clinics

One hour session on phone or Zoom

IN ThIS ISSUE

AUdIT | 4 – 5

Our dedicated audit specialists get to grips with your business so we can tailor our approach efficiently and effectively

AccOUNTANcY | 6 – 7

We provide all your accounting needs in one place whatever the sector, shape or size of business

MANAgEMENT SERvIcES | 8 – 9

Up-to-date management reporting is important to win at business and the right cloud software package is equally essential

bUSINESS AdvISORY | 10 – 11

The EPIC programme is designed to help you focus on: People, Plan, Process and our coaching will help you fit the pieces of the puzzle together to achieve success

cORPORATE FINANcE | 12 – 13

Whether you want to improve, invest, grow or exit our corporate finance team have the advice you need

TAx | 14

Whether business or personal tax we have the expertise to answer your queries

R&d TAx RElIEF | 15

Our experts have helped realise millions in savings and in sectors where you may not expect

cASE STUdIES | 16 – 17

A small selection of our case studies showing how we have worked with clients to improve their situation

whO wE ARE | 18

We don’t just work hard at business, we work equally hard at supporting each other and the local community

SENIOR TEAM | 19

Meet the people that lead the teams who work to make your success our priority

c all now on 01242 776000 or email clinics@randall-payne.co.uk randall-payne

P 16-17 read how we have helped our clients

There’s more to an audit than just ticking boxes

our Services

ryan Moore Partner

our promise

Our team is passionate about safeguarding your business and understands the challenges you and your company face. That’s why we get to know you and your goals right from the start, striking the balance between providing you with an effective, actionable service and giving you the independent assurance you require.

our process

We tailor our approach to work with you effectively and efficiently, while ensuring that your staff can continue working throughout the process.

We utilise the most up-to-date software to complete a paperless audit, and ensure that we remain compliant while we address the inherent audit risks associated with your company and sector.

All of our findings are recorded in a single document, presented at board level, and we work through any findings with you in a collaborative, helpful manner.

Our team works with organisations from almost all the business sectors and we have vast experience in the not-for-profit and education sectors.

corporate Audit – our detailed audit findings provide business owners and management real insight into their transactions, control environment and financial efficiency. We work closely with you to really understand your business.

Academies – our experience of working with schools means they understand the complex accounting needs of academies and MATs, working with Head teachers, Business Managers and Governors to ensure they feel fully supported.

Charites & not-for-profit – our reports provide trustees with useful insights into potential risks within a charity.

grant Audits – making sure that the grant has been spent correctly and within the remit of the grant being awarded.

By working with us you will have the reassurance of knowing that you are dealing with registered auditors, whose audit work must comply with the professional standards of the Auditing Standards Board, the Financial Reporting

Council and the Institute of Chartered Accountants in England and Wales

For more information about our audit services, to meet the team, and read more of what our clients say about us visit our website www.randall-payne.co.uk or call us for a chat on 01242 776000

Randall & Payne have been a valued partner during a period of significant change and growth, helping us overcome many challenges covering a wide range of financial reporting, systems, controls, and corporate governance issues. Their approach to the audit is efficient and appropriately risk-based, and they have always worked collaboratively with us to meet the reporting deadlines of our parent company.

Andrew woodruff

By making sure that your business is fully compliant, we can future-proof your company and improve its value.

Audit reforms: a once in a generation opportunity to transform audit

On 18 march 2021, the uK Government published its long-awaited white paper on restoring trust in audit and corporate governance. senior audit leaders referred to the report as a “once in a generation opportunity to transform audit and corporate governance” and there is no doubt that the contents of the report were both encouraging and exciting.

You will be forgiven for not having read the full report in detail. It is after all, in excess of 200 pages long. A brief overview of its contents is as follows:

� The requirement that large companies would be required to use a smaller “challenger” firm to conduct a meaningful portion of their annual audit.

� The Big Four could also face a cap on their market share of FTSE 350 audits if competition in the sector does not improve.

� Further details of a new regulator – the Audit, Reporting and Governance Authority (ARGA) –which could oversee the largest unlisted companies as well as those on the stock market. It would also have the power to impose an operational split between the audit and non-audit functions of accountancy firms, to reduce the risk of any conflicts of interest that may affect the standard of audit they provide.

The recommendations are encouraging, but there are a number of practical considerations with which I have concern. These include:

How the industry makes sure that audit as a profession remains attractive to young accountants

There is a risk that the actions arising from this report could be viewed as increased “red tape” which could in turn push people away from the profession. For the actions in the BEIS report to be successful, the audit world needs to be able to attract and retain the strongest young accountants and this has historically been a challenge for the profession.

Smaller firms are being encouraged to step-up as “challenger” firms, to audit a “meaningful proportion” of the subsidiary audits within a FTSE listed Group. It will be interesting to see whether firms consider that they have the technology, knowledge, expertise and risk appetite to be able to conduct this type of work and if over time, the market becomes less concentrated on the Big Four.

Having trained from within the Big Four, I understand the challenges faced by many small firms in attracting individuals with large corporate audit experience and this raises concerns that many firms may not volunteer to thrust themselves into a world of enhanced regulation and scrutiny, on the basis that they do not have the resources

available to be able to conduct this type of work.

The timeliness of implementing these actions

The report is long overdue and it has taken several years to reach this point. I attended a webcast on the reforms, where the head of the FRC, Sir Jon Thompson acknowledged that it may not be until 2025 until these measures start to take effect. For many involved in the profession, the pace of these reforms has been frustratingly slow and there is a concern that by the time these reforms come around, they could be outdated.

I see it as critical that the UK business community provides input and cooperation on this agenda, which will help audit and the wider corporate governance program to evolve as quickly as possible. I’ve been encouraged by the conversations I have had with Boards on the future of audit. If you are not obtaining the value you deserve from your audit process, now is the time to begin to act.

ryan Moore heads up our audit & assurance and offers a full range of audit and assurance services to clients. If you are not tapping into the value that audit can offer, call ryan on 01242 776000 or email ryan.moore@randall-payne.co.uk

Knowing your accounts inside out will show you the true strength of your business

that’s why we’ve developed our accountancy services with growth in mind to ensure your business reaches new heights.

our Services

We work with businesses of all shapes and sizes, from start-ups to global, including sole traders, partnerships, limited companies, charities and not-for-profit organisations.

our promise

We make it our business to get to the heart of yours, understanding what you want to achieve so that we take the stress out of managing your accounts, improve efficiency and identify areas where you can improve your financial health.

With our accountancy services, you’ve got peace of mind that your business will remain compliant, but that’s just the start. With our help and insight you can make important strategic decisions on:

� Growth and sustainability

� Profit improvement and continued success

� Tax planning and mitigation

Making your business work for you -

We don’t just do the books. We’re here for the whole of your business journey. We make your success our priority.

By preparing the core business and management accounts, our team are central to the inner workings of your business and oversee all services we offer at Randall & Payne.

All your accountancy needs in one place:

� We make sure the deadlines are met and that you are compliant

� We can help set budgets and financial targets

� We monitor the performance of your business to help identify ways to improve your growth

� We spot opportunities and liaise with our internal specialists.

In house expertise – we bring in our Management Services team for advice on transferring physical accounting records to digital methods for Making Tax Digital or to review existing accounting processes to maximise the benefit from

your accounting programmes. We call upon experts from services within the wider team depending on the business need. For more information about our accounts service, to meet the team, and read more of what our clients say about us visit our website www.randall-payne.co.uk or call us for a chat on 01242 776000

Officeworx Ltd have been using the services of Randall & Payne for 25 years. In this time, they have supported us with everything from our standard year-end accountancy through to business advice, consultancy, acquisitions and mergers. They have experts for every requirement and offer a wide range of services. With the team at Randall & Payne behind us, we can get on with doing what we do best –running our business.

Paul berry

Accounting and business advice for the medical profession

Our specialist medical team are members of the association of independent specialist medical accountants, aisma, and have a wealth of experience in advising medical practices, Gps and consultants.

Shaun peglar Partner

When it comes to accounting, the medical sector is unlike any other business or profession. Consider the following that need special attention:

� Surgery financing and development

� NHS and private pensions

� Pension annual allowances and final pay controls

� NHS and non-NHS Income structure

� Dispensing accounting and VAT

� Primary Care Networks

� Practice mergers

� Personal expense claims

We provide pro-active advice on all of these in addition to practice finances and budgeting which can all impact directly on the profitability of a practice together with the personal finances of the partners.

Our experience extends beyond practices with specialist services for Primary Care Networks, Salaried GPs, Consultants, Registrars and other employed members of the medical profession.

Improving financial performance and profitability

We recognise the value and contribution provided by practice managers, business managers and partners. We work closely with them to build a more efficient and profitable practice, whilst easing the pressure upon the principals.

As members of the Association of Independent Specialist Medical Accountants, AISMA, we have access to powerful nationwide and regional statistical information. This enables us to benchmark your practice and provide you with focused advice on improving financial performance.

Through our experience in medical accounting we can identify tax savings and planning opportunities so that you can build a stronger, healthier practice. We appreciate the time pressures involved in running a practice so our advice will be concise, pertinent and effective.

our services are not just for doctors in practice

If you are a Consultant, Salaried GP, Registrar or other employed member of the medical profession you can also benefit from our specialist personal tax service. We can:

� prepare your annual tax returns

� advise on claims and planning opportunities

� prepare type 2 certificates of pensionable income

Specialist advice need not be expensive. At Randall & Payne’s specialist medical division our systems enable us to deal with your affairs efficiently and cost-effectively. We are pleased to agree fees in advance, so there are no hidden surprises.

For further information or a free initial consultation please contact Shaun pegler on 01242 776000 or email shaun.pegler@randall-payne.co.uk

Are you getting the right information to maximise your business?

many businesses could be better, which is why we developed our services so that our clients can concentrate on what they do best and make the right decisions at the right time.

Will abbott Partner

our promise

Keeping an accurate record of your finances is a key part of your business, but it’s often tedious and time-consuming, and can divert resources away from the revenue-generating aspects of your organisation.

With our expert insight we’ll save you time and we’ll help you maximise profits, minimise tax and plan for the future by providing accurate financial information.

Our comprehensive services include: Management Accounts

In the fast-paced world of business, management accounts give you the information you need to make a difference.

Using cloud accounting technology, your management accounts will provide you with accurate, real-time information, giving you the confidence to make more

informed decisions and ensuring you’re fully equipped for every step in your business journey.

Forecasting

Forecasting your cash flow and profits is essential and alongside identifying and accurately measuring your key performance metrics will make a huge contribution to your success.

Payroll

Managing payroll and staying up to date with frequent changes to related legislation takes up valuable time and resources.

We save you all the frustration involved in operating your payroll in-house, and make sure that everything is accurate and compliant with HMRC and government regulations and deadlines.

bookkeeping

Your financial information needs to be correct and up to date so that you can make sound business decisions, but bookkeeping can be time-consuming and stressful.

Our certified advisors can tailor and build the system around your requirements so that you have the most accurate information when you need it most.

For more information about our Management services, to meet the team, and read more of what our clients say about us visit our website www.randall-payne.co.uk or call us for a chat on 01242 776000

It was brilliant going through the forecasts with you. You made things simple to follow and discussing the 3-4 key areas without getting bogged down in detail was really helpful. I came away with a much better understanding of the way forward and a clear idea of where we need to focus in order to beat the forecasts. Thank you so much!

laura Roberts

Most businesses are transitioning to cloud accounting to take advantage of its many benefits

cloud accounting packages can be tailored to suit your needs and will provide a realtime financial representation of your business.

We use numerous industry-standard online tools to make accounting more efficient. We are proud to be a Xero gold partner and support Sage Business Cloud, which are our preferred providers. Whether you already use a cloud-based system or are looking to transition to one, our certified advisors can tailor and build the system around your requirements so that you always have the most accurate information available when you need it most.

xero platinum partner

At Randall & Payne we are proud to be Xero platinum partners and have staff across all teams who are Xero-certified, including adviser, migration and payroll.

Using actual, up to date data from Xero linked to cloud based forecasting tools, we can monitor how your business is doing against your plan and are on hand when you need us to deal with issues as they arise, minimising disruption and maximising performance

Tricia Hay started First Base Employment in 1997 and they continue to go from strength to strength with an increasing customer base and clients who are impressed with the quality of candidates, fast response times and the quality of service.

Following the sale of their accountants, they reviewed their requirements which is where we were invited to step in. It was apparent that the accounting function was not efficient and did not lead to timely information being available from which to make decisions.

functionality, making sure postings were correct. This system now means that statements can be issued to customers directly from Xero and they can keep a better eye on the company’s debtors and, ultimately, cash flow.

ReceiptBank has since been introduced and is saving the team so much time. We will continue to support Tricia and team to ensure they are getting the most out of Xero.

Tricia commented:

Make sure you are compliant and that you are embracing the technological improvements which will benefit your business – call us on 01242 776000 and talk about a demonstration or your requirements for the transition to Xero cloud accounting.

As Xero gold partners we agreed that it would best suit their requirements. Sage 50 was converted and transferred across to provide a couple of years of history. Training was provided to allow the team to do data entry alongside the direct feed from their bank account to enable Xero to pull in the transactions. Our team provided some of the outsourced

“I have been extremely impressed with the smooth transition over to Xero and all of its capabilities. The assistance we received from Randall & Payne was instrumental in achieving a more joined up accounting function. They listened, understood our frustrations with our existing systems and proposed a solution. Randall & Payne have worked with my team and we to continue to streamline our processes”.

first Base employment needed a cloud based accounting solution and turned to us to help them make the right choice whilst taking into account their longer term strategic needs.

First Base Employment choose xero

Our aim is simple to make your success our priority

we help people to grow their businesses by bringing clarity, commitment and capability to their strategic planning.

Will abbott Partner

our promise

You know your business, but you might need some direction to help your business grow. To us, the journey is simple – we enhance your performance to improve profit and cash, allowing you to invest in your business and realise growth.

We would be pleased to demonstrate how we can help you with an initial conversation about the all-important three areas of your business; Plan, People, Process

EPIc Programme

Our EPIC programme is designed with all the elements for business success in mind. Our work with a wide range of businesses has taught us one key thing – keep it simple. We’ve designed EPIC to challenge your thinking, help you develop new perspectives, and hold you and your team accountable to your plans. Business Coaching is the ideal way to achieve these outcomes.

vision and Strategy – To win at business you need a plan: with this, you can focus valuable resources on fixing the right issues. Having a clear Vision and developing the right strategies to take you there is the key to success.

Profit, Sales & Growth – For your business to become growth-ready, you need to ensure that you have the right processes, capabilities and attitudes in place throughout.

developing People – When your people believe in their work and have the required skills, they’ll do everything to ensure your plan succeeds. Investing in your people is the way to deliver your winning plan.

Process and Productivity – The first steps are to improve your structure and efficiency; for everything in your organisation from HR to Finance, Operations to Innovation, Sales to Marketing and more.

change Management – It is well established that only 30% of change projects succeed at the first attempt. With the right support, energy and resources we can help make change stick.

For more information about our Business advisory services, to meet the team, and read more of what our clients say about us visit our website www.randall-payne.co.uk or call us for a chat on 01242 776000

Since being introduced to Will a couple of years ago, we have worked together on all aspects of our business. As a direct result of this work, whilst Covid-19 is presenting challenges, we are facing these from a position of strength and feel very positive about the future. By chatting to Will on regular video calls or recording actions and plans using the online coaching portal, we get help when we need it and we stay focused on and accountable for doing what needs to be done. To anyone concerned about the future, I recommend Will and his approach very highly.

Rob cole

If you ask yourself the question: EPIC business coaching is the answer.

How can I fix my business? our promise

It is important to understand both the short-term and long-term issues and by using knowledge and introducing the right process, skills and behaviours, we help you to develop the appropriate plans in order to get you where you want to be.

THE KEYS TO SUCCESS:

THE KEYS TO SUCCESS:

At Randall & Payne we know that most business problems occur when there is a piece of the puzzle missing. We will work with you to determine what this missing piece is and how we can work together to complete the puzzle and ultimately improve your business.

HOW WE CAN HELP:

Purpose Why are we here?

Vision (3/5yrs): Where are we going?

Competitive Advantage How will we win?

Forecast: What is possible?

Measure: What is important?

Monitor: Performance and results.

Me: How will i change?

Team: How will my team change?

Develop: train and coach.

Strategies: Focus for next 12 months.

Actions: What are the next 90 day steps?

Commit: Who will do what by when?

HOW IT WORKS:

HOW IT WORKS:

We work with you to get each part of the puzzle in place as together all the pieces are important to ensure you achieve your goals and overall business success.

To find out how we can work with and make your success our priority email will.abbott@randall-payne.co.uk or arrange a free advice clinic by emailing clinics@randall-payne.co.uk

Looking forward to the future but not sure how to get there?

whether you’re aiming to acquire a new business, raise finance or sell your company, our corporate finance experts offer a cradle-to-grave service.

ollie newbold

Partner our promise

We pride ourselves on offering a personal, in-depth service, giving the support and advice you need to deliver your transaction successfully.

our Services valuations

We have a breadth of experience undertaking valuations in fluctuating economic conditions. We use robust data from actual transactions undertaken in the relevant sector to underpin our valuations and our experience allows us to consider whether the valuation ‘feels right’.

Acquisitions

Our team can help you grow your business by completing an acquisition and have a flexible approach, either helping you source a potential acquisition or advising on an opportunity you’ve found yourself.

From an expert valuation all the way through to completion we will support you throughout the transaction process,

including negotiations, raising finance, Due Diligence, reviewing documentation, advising on tax implications and liaising with bankers and reviewing tax covenants.

Raising Finance

Throughout the years, we’ve helped our clients fund millions of pounds worth of lifechanging projects, including acquisitions, relocations and asset purchases.

Forecasting

Financial forecasting is an invaluable tool for businesses, large and small, helping you set important goals and making sure you’re on track for the future.

Succession/Exit Planning

With a comprehensive succession plan, we find that many business owners have a shift in priorities – when the business is being run so well, there’s less incentive to sell. Don’t fall into the trap: this is probably the best time to sell, as your business will be more attractive and therefore at its most valuable!

Selling Your business

After many years of success, there may come a time when you look to sell your business or part of your organisation.

If you decide to undergo a disposal, you’ll need an experienced pair of hands that understands and appreciates the

emotions attached to a sale process as well as how to achieve the best possible value.

For more information about our corporate Finance services, to meet the team, and read more of what our clients say about us visit our website www.randall-payne.co.uk or call us for a chat on 01242 776000

Having the knowledge and professionalism of Randall & Payne at the very beginning of the negotiations was imperative to WHC. Ollie took control engaging with all the legal, financial and accountancy experts on our behalf. We had 100% commitment from Ollie and his team, all questions were dealt with immediately and efficiently, even outside of working hours. Randall & Payne have a brilliant, forward thinking approach that suits the WHC ethos.

James clutterbuck

Sale specialism: success for the darch family business

in september 2020 ron darch & sons co ltd, a distinguished south west based family business, was acquired by nwf Group plc – an exceptional milestone for the company.

Acting on behalf of the shareholders of the company, Randall & Payne supported the Darch family throughout the transaction which, despite its complexities, fulfilled the desired outcomes of the shareholders and allowed them to exit the business safe in the knowledge that the business would be in the best of hands.

Founded by Ron Darch during the early 1960s, the company initially supplied solid fuels to the local community. As demand from customers grew, the business expanded accordingly which led to the introduction of liquid fuels and lubricants to their offering.

Randall & Payne, having advised on the sale of Hobbs Bros Ltd in 2017, were approached by the Darch family to discuss the sale of the business due to their intention to retire. It was important to the family that the business was not commoditised and that the legacy of the business would continue under new ownership. Additionally, the family were concerned that the oil and coal elements of the business might be separated or that the coal element of the business may be too niche for distributors who trade only in liquid fuels.

We worked with Andrew and Jamie Darch to gain a full understanding of how the business operates, including the employee and customer base as well as undertaking site visits.

This meant we were well positioned to produce a comprehensive Information Memorandum upon which multiple interested parties were able to make informed offers. Having received several offers for the company, the family were able to identify NWF as the buyer who fulfilled their desired outcomes.

NWF’s focus on building a sustainable business through strong customer service and fair pricing truly mirrored the culture and ethos of Ron Darch & Sons. Additionally, despite not having a coal division, NWF embraced the coal element of the business and felt that it represented an opportunity to complement their existing product base and ensuring that they could continue to offer both liquid and solid fuels to the company’s dedicated customer base.

At Randall & Payne, we recognise that, particularly in the oil industry, it is difficult to dedicate enough time to your business sale, whilst also maintaining a hands-on operational role within your business. Our role (and what we do best) is to manage the transaction on your behalf and in your best interest from beginning to end. From the initial sale preparation and identification of potential purchasers, to reviewing completion agreements, our objective is to keep the deal running smoothly, working collaboratively with all parties to enable you to continue to do your job without extra worry or burden.

Additionally, our knowledge and experience of the oil industry enables us to understand the sticky points and stumbling blocks inherent in these transactions. This enables us to address complex issues such as working capital requirements of a seasonal trade, the due diligence process and warranty exposure in an efficient, fair and effective manner.

The shareholders of Ron Darch and Sons exited the business safe in the knowledge that the Darch brand and legacy of the company – testament to the hard work of the Darch family – will long continue. At Randall & Payne, it is our objective to ensure that our clients’ success is at the heart of our business and we are pleased that we have been able to assist the Darch family in achieving this result.

The relationship we built with Randall & Payne was fantastic. They offered a very personal and professional service, with great communication and we had every confidence in their team. This resulted in a successful sale of the business.

Jamie Darch, Director

Questions regarding tax?

whether you need assistance with vat, r&d tax relief, corporate tax issues or personal tax, our expert team of tax accountants can help.

rob case

Partner our promise

Tax legislation is constantly changing, what is good today, may not be good tomorrow, so you need experts who know what’s going on and who keep your overall objectives in mind. We will not only seek to minimise your tax burden but we will also reduce the risk of any tax investigations.

our Services

corporate Tax

It can be easy to miss tax relief strategies that may be integral to your business. Our experienced team know the rules and how they apply, so we can help plan an overall tax strategy that fits in with your goals – whether it’s Business Structure, Corporation tax, or Remuneration.

Personal Tax

If you find self assessment tax returns confusing, or are struggling with personal tax planning, our expert team are on hand to take the stress out of it all.

If you’re a landlord, self-employed, a sole trader, in a partnership, a company director or someone that receives dividends, whatever your situation, we’ll help you stay compliant.

Inheritance Tax

Although our advice can potentially enhance the value of assets you can pass to your loved ones, we don’t promote schemes, and our tax planning is based on ethical opportunities – giving you peace of mind.

Employment Tax

Providing your employees with benefits and incentives can result in significant tax and National Insurance consequences. We’ll look at your options and provide you with a tax efficient strategy.

vAT

VAT is time-consuming, complex and challenging, and can have a huge impact on your business. We regularly carry out reviews for all our clients as a matter of course to ensure they’re making the best use of the different VAT accounting schemes available.

wealth Management

By building a complete picture, we work with you and a recommended financial advisor to provide specific wealth management and tax advice.

Tax Investigations

If HM Revenue & Customs choose you or your company for investigation, there’s no need to panic – we can help you avoid additional payments or high penalties. For more information about our Tax service, to meet the team, and read more of what our clients say about us visit our website www.randall-payne.co.uk or call us for a chat on 01242 776000

I have been a client of Randall & Payne’s for many years now, both for personal and company accounting services, and I cannot fault them. The firm is excellent across the spectrum, from business leadership coaching and financial planning to practical tax advice. I feel I know the advisers personally now and am always met with the same level of professionalism and friendliness.

bridgette Smith

R&D Tax Relief massive cash boost for local businesses

James Geary Partner

our promise

Our team is highly knowledgeable and will work with you to determine if your business could qualify for R&D tax relief. Using our experience we will expertly advise on claiming only if we consider that it has a strong chance of success, we will also work with you to complete the application to keep the constraints on your valuable time to a minimum.

can you qualify?

We have worked with many businesses from a variety of sectors but still understand that many businesses are unaware that what may seem like routine changes, enhancements or developments to improve their products or systems could mean that they benefit from a successful claim.

These examples barely scratch the surface in terms of how wide this relief can be:

Food and drink

Devising new specialised beer or new blends; modification of coffee machines,

both vending and for coffee shops; design of new snack product ranges; or small packets of ingredients for cooking are just a few changes our clients made that brought a successful tax relief claim on the innovation.

construction and Utilities

From a new method of laying mains services under roads; modification of boilers by service engineers in the field; and developing a safer means of securing excavators to trailers, are just a few examples where changes to improve the way things are done brought about successful claims.

IT and Software

The use of advanced radar and infra-red technology; adapting digital marketing methods for new software; design and integration of advanced ordering and accounting systems for a company selling gift hampers; or computer modelling of rail signalling systems all are successful examples where technology can bring in a cash boost through R&D tax relief.

Manufacturing

From small batch manufacturing; or modifying and improving a farm trailer design can be simple examples of how changing how you do things can bring tax relief for your business.

With a strict two year time limit for making claims, you really might be leaving cash on the table.

For more information about r&d Tax relief, to meet the team, and read more of what our clients say about us visit our website www.randall-payne.co.uk or call us for a chat on 01242 776000.

We recently worked with Randall & Payne on our first R&D claim. Quite early on they realised that trying to run a business and find time to deal with the claim was very difficult for us. They helped enormously and made the entire process manageable for us and with a very successful outcome. We look forward to working with them again this year

clare gulley

innovation is crucial for business growth and survival, and r&d tax relief exists specifically to help uK companies to invest and grow.

Officeworx Ltd directors, Rob and Paul, were intrigued when they received a company sale notification for another stationer based in Corby as it was an ideal location to enable them to expand their geographical presence.

They met with Ollie, our Head of Corporate Finance, to assess the viability of the proposed transaction and to help with the construction of a letter that outlined the offer details and the reasons why they would represent an ideal fit.

We recognise that the acquisition process can seem complex but we made things as clear as possible, from aiding their understanding of both the technical and legal language, to explaining the bigger concern of the operational and financial risks associated with the transaction.

When the Unmumsy Mum, Sarah Turner’s hilarious tales of parenting became a Times best-selling book, her success meant she needed to quickly get to grips with operating as a business.

After seeing her plea on Twitter, our tax team were able to share their experience in working with authors and the issues they face, including the requirements of overseas books deals and HMRC approvals.

We incorporated her business into a limited company, enabling more stable tax rates and allowing her to plan better for the future with a tax-efficient remuneration strategy. We look forward to helping her on the rest of her journey.

The discovery of a potential research and development tax credit claim, whilst on boarding Regency Hampers, resulted in a claim of £54,000 in R&D tax relief – vital for helping the business grow.

To help drive the business forward, we also developed bespoke management information, helping to monitor key information with a view to improving profitability further. We are also working with Regency Hampers to provide scenario planning around potential new product ranges and future growth plans, while mitigating tax where possible.

We look forward to supporting Neil and his team as they prepare for future growth and other opportunities.

An unexpected opportunity for a local stationer called for expert advice resulting in a successful acquisition

Cry for help from one of the country’s best-known bloggers saw us assist with increasingly complex accountancy and tax needs

What started as a routine request for accountancy and tax services became a substantial R&D tax credit claim of over £50,000

We have worked with HW Smith & Son for many years so when they decided it was time to move to cloud accounting we helped them get set up and provided training so that they could make the most of the options available to them.

The new system has helped them to produce their year-end figures more quickly and plan other expenditure, keeping tax liabilities to a minimum to leave more working capital in the business.

Our accountancy team continue to work with the family, keeping them armed and ready with the financial information they need to make their business a continued success.

HW Smith & Son

Through our audit process, we identified several areas within the company’s financial systems that had come under significant strain as a result of its fast growth.

We completed a full investigation, providing advice on how to rectify and improve the controls moving forward. Our efficient reports allowed SOHO to act quickly to ensure robust systems were put into place.

Regular communication with the client is important to keep up to date with strategic plans and further growth discussions.

Will Abbott met with the senior leadership team at Lister Communication and with our advice they were confidently able to predict doubling their turnover within five years.

We had monthly update meetings to keep on plan and an annual off-site meeting to adjust the goals for the following 12 months.

Even in the preparation phase, growth accelerated and is now averaging over 15% per annum –which was a strong measurable first step on the way to doubling turnover. We continue to be available on demand to support individual members of the team whenever the need arises.

A local farming family needed to be able to cope with the modern demands of their business and get a real-time picture of their accounts

In order to support their continued growth, SOHO Coffee Co turned to our audit team to help them implement robust financial systems

With growth a priority for a Stonehouse-based technology company, they turned to our business advisory team to provide clarity

Read the full case studies and more featuring other local businesses on our website and see how we can help you.

Meet our Senior Team

Tim watkins Managing Partner

Tim’s primary area of expertise is agriculture so he looks after all our farming clients, handling everything from accounts and tax to business advice. As Managing Partner, he can often be found tending to the day-to-day running of the firm, but always has time to speak to clients.

Tim is the treasurer of the Friends of Gloucester Cathedral, and enjoys running. He’s a lifelong (forever suffering) Leeds United fan!

Ollie Newbold Partner

With an eye for a promising opportunity, Ollie leads our Corporate Finance team, securing futures for ambitious businesses and their owners.

He handles company acquisitions and sales, financing, due diligence and valuations.

Out of the office, he loves spending time with his two children – their artwork is often proudly on display at his desk.

Shaun Pegler Partner

Shaun has a substantial portfolio of clients and meets with new prospects to understand their business goals.

Shaun works closely with clients to prepare financial statements, year-end planning and identify key tax-planning opportunities.

Any free time is spent with his two boys, going on adventures and playing games – generally boys being boys.

Nicholas gratton

Client Director

Whilst many of Nic’s clients are involved in farming and related industries he also enjoys working for a wide range of other owner managed businesses in the local area and beyond.

In his spare time, Nic is a member of an amateur dramatics group and a lifelong supporter of Swindon Town. A condition he is now imposing on his two sons!

w ill Abbott Partner

Will is partner and head of Management and Business Advisory Services. Helping business people achieve success by bringing clarity and commitment to their plans, he works with many sectors to develop and implement strategy. With over 30 years’ experience in practice he is passionate about helping clients solve problems.

A dedicated MAMIL he can be seen cycling the highways and byways of Gloucestershire and further afield most weekends.

Ryan Moore

Partner

Ryan works closely with executives in organisations across a number of sectors, including Charity Boards and Academies.

Having trained at the Big 4, Ryan draws on his experiences to help clients create value and develop their business ambitions.

He is a member of the Disciplinary and Regulatory Committee for the ACCA. Ryan enjoys spending time with his growing young family and can often be found riding the waves on his surfboard!

James g eary Partner

James is our lead in corporate tax and specialist in R&D tax relief. He also specialises in corporate restructuring, employee share incentives and investment tax reliefs.

He volunteers for the Chartered Institute of Taxation on one of their technical committees with direct links to policy makers in the government.

He’s a keen stage performer and musical director for stage musicals.

Richard Szarszewski

IT & Systems Director

Richard possesses detailed technical knowledge in numerous technologies and security areas. He is a cloud visionary, utilising the cloud to improve process efficiencies.

Out of work, as a father he enjoys spending time with his family, and going on long scenic bike rides.

Rob c ase Partner

Rob oversees the Tax department and its specialisms, with his own being VAT.

Rob helps clients to meet their obligations and minimise their liabilities, and works heavily within the education, charity and property sectors.

If you’re a keen runner like Rob, you might spot him pounding the streets or taking part in a parkrun event.

Nikki c airns

Partner

Nikki has an impressive and diverse portfolio of clients, with a focus on agriculture and hospitality. Day-to-day, she’s always on the other end of the line when clients need advice and guidance and is proud to be a partner in a highly regarded local firm with a long standing history.

Most of Nikki’s free time is now taken up with her young family, including the dog. However, she will take the opportunity to fit in a skiing trip if she can!

ben burch

Client Director

Ben has developed a wealth of practical experience in his decade of auditing a diverse client portfolio and was awarded Responsible Individual status by the ICAEW in 2022. Ben previously chaired the Finance Committee of a local multi-academy trust, providing guidance and oversight to its financial operations. In his spare time, he can be found searching for his ball in the rough at his local golf club.

Kate Thorburn Private Client Tax Manager

Kate manages our private client tax team and has a background of providing bespoke tax advice for high net worth individuals and internationally mobile clients. With experience in complex tax returns, inheritance tax and trusts, she helps to ensure that we provide an all-round service to clients.

Out of work she enjoys country walks with her two dogs, spending time with family and friends and is partial to a wine tasting!

HMRC can target you at any time

HMRC conducted 337,000 tax enquiries last year, showing just how many UK taxpayers it suspects of underpaying tax.

From the agricultural industry to the ownership of rental property, it doesn’t matter what sector you operate in.

HMRC do not discriminate between big and small and anyone who submits a tax return can be at risk of investigation.

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