As part of Menzies commitment to sharing #BrighterThinking our teams of accounting and business advisors have been providing their opinions on some of the leading hot topics raised within some of the UK’s leading national, regional and specialist press titles.
Here follows a summary of Menzies in the media for October 2019.
VAT reverse charge
UK construction online – 1st October 2019
VAT specialist Sarah Barron examines what impact HMRC’s VAT reverse charge may have on businesses and how business owners should be regularly reviewing their cashflow.
Be on the look out for pension fraud
FT Adviser – 3rd October 2019
Forensic Partner Gavin Cunningham explains how fraudsters are creating schemes with sole aim of siphoning off funds that individuals may have extracted from safe schemes.
“Often tied into a self-invested personal pension scheme, a common trait of these fraudulent schemes is that they are unlikely to have the required regulatory approvals – a fact that could be picked up by some relatively simple due diligence.”
Insider Media (Wales) – 4th October 2019
Insolvency Partner John Cullen explains how for the majority of business who operate on a project-by-project basis understanding cashflow is crucial to remaining solvent.
“Delays between new streams of work and, in sectors such as construction, the need to spend money on materials and labour before collecting payment can leave businesses with cash flow difficulties. “
Links of London
Retail Gazette – October 2019
Following the announcement that Links of London had collapsed, Business Recovery Partner Simon Underwood’s comments were featured across a number of business and specialist retail publications offering the following advice:
“Keep a close eye on the cash position of the business in an extremely challenging trading environment to ensure accurate cash-flow forecasting is possible. These are basic principles, which when combined with access to accurate, real-time management data, will enable the business to take preventative action to protect the business if profitability and/or turnover dips.”
Read Simon’s comments via Retail Gazette.
Tech sector taxation
Information Age – 21st October 2019
Tax Partners Stephen Hemmings and Nick Farmer explore the changes to the tax system and how this is likely to impact the UK and international technology sector.
“An international tax framework to control the tax liabilities of large tech companies has moved a step closer, following the publication of a new OECD consultation document. But will the proposals end up striking the right balance and what impact could the new rules have on the wider tech sector?”
Corporate Finance Done Deal: Aquatreat
Insider Media – 23rd October 2019
Following the acquisition of Aquatreat by Marlowe, Insider Media follows up with with Menzies Corporate Finance Director Kevin Paget on this latest ‘done deal’
“Aquatreat Group Ltd is a great fit with Marlowe’s acquisition strategy and enhances its reputation as a UK leader in providing specialist services that assure the safety and regulatory compliance of commercial properties, whilst helping them to improve their risk profiles.”
Various – October 2019
Following the announcement of QuickQuids decision to close its UK operations, Insolvency Partner John Cullen reports on the fallout for it’s customers and what happens next.
“For former customers, who feel they have been taken advantage of and are in financial hardship, the future is still uncertain. The value of any compensation payouts will now depend on the process of closing the company.”
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