Pierce employees take on three peaks

Fourteen employees from Pierce have started training ahead of their Yorkshire three peak challenge this summer to raise money for local homeless charity Nightsafe.

Lewis Withnell, Elizabeth Stebbings, Charles Hopkinson, Lisa Kennery, Fred Green, Daniel Burrows, John Corteen, Philip Johnson, David Barker, Gary Speak, Paul Moulding, Thomas Brassey, Scott Hughes and Katie Nicholson-Taylor have joined forces to raise money for charity.

The team will face Pen-y-Ghent at 694 metres tall, followed by Whernside at 736 metres then climb 723 metres up Ingleborough.

Lisa Kennery, payroll manager at Pierce, said: “Last year a group of employees did Tough Mudder and this year we have chosen to do the Yorkshire three peak challenge.

“It is a great team-building activity and will be very worthwhile as we hope to raise lots of money for our chosen local charity, Nightsafe. All team members have shown their dedication to the challenge and everyone at Pierce is right behind the team.

“Nightsafe is based locally to our office in Blackburn and helps support homeless young people aged 16-24 through its day centre, night shelter and supported housing projects. A donation of just £2.00 would provide a young person with their breakfast and £25.00 would pay for a night in the night shelter, so every donation would make a huge difference to a young person.”

Please follow the link to donate https://www.justgiving.com/fundraising/pierceaccountants 

 

Making Tax digital – What will the future bring?

The government announced on 13 July 2017 that Making Tax Digital will commence in April 2019 for all VAT registered entities with a turnover above £85,000. Vat registered businesses with turnover below this amount will not be required to use the system but can choose to do so. They will also be able opt in for other taxes, benefitting from a streamlined, digital experience.

 Making tax digital will extend to other areas of tax for example,  self-assessment tax returns  in April 2020 . This gives you two years to adapt to the change of reporting digitally,

 Challenges you may face:

  • Converting manual records to digital version
  • Converting spreadsheets to recognised book-keeping software that will link direct with HMRC
  • Upgrading old software that will not be compatible
  • Adapting bespoke software
  • Cost of doing the above
  • Time processing

How can we help

  • Assisting in selecting the correct software for you
  • Implementing the software
  • Provide training initially and as and when required
  • Take the headache away and provide a full package

Opening the Funding Treasure Chest

 

I always liken the availability of funding to opening up a treasure chest.

Every week at Pierce, we meet funders representing a variety of financial institutions to keep ourselves up to date with financing availability and options.

Just this last week, we’ve met a Merseyside-based invoice finance firm and a London-based private equity house looking to provide debt-based private capital to Lancashire companies.

There really does seem to be more funding available than there are homes for it.

In my opinion, if your business is profitable, there will be funding available to provide for both working capital and growth investment.

Our job at Pierce is to find that money for our clients and thereafter to structure the lending so that it works for them and comes at the best possible price.

If you are looking at wholesale expansion or a management buyout, then you need something sophisticated – which will clearly be at a higher cost, but options are still available to you.

We work closely with all the banks locally and they all have money to lend. Their appetite towards sectors may come and go, so it is all about knowing the man or woman who can.

As ever, give yourself a fighting chance by presenting your case well with your accountant’s help.

Ensure you have financial information such as your latest year end and management accounts, budget for the current year and detailed projections including monthly cashflow forecasts.

Then you can open up the treasure chest……………………………

Spring Statement 2018

Chancellor Philip Hammond has delivered his Spring Statement 2018, and on his promise to move away from two major iscal announcements every year.

There was no red briefcase, no red book, and no tax changes as the chancellor announced updated economic forecasts in a speech lasting less than half the length of any of his previous statements.

Click here to download our in-depth report.

Pierce tells apprentice they’re hired

Lancashire-based accountancy and business advisory group, Pierce has promoted Layton Smalley to payroll assistant after completing his 18-month apprenticeship during National Apprenticeship Week.

Layton, 19, from Accrington completed his Business Administration qualification after working full-time in the payroll department since 2016.

Playing a key role in the department, Layton is responsible for the administration of the department, processing payrolls with the support of other team members and dealing with client queries.

Keen to continue his learning, Layton will now study for a Chartered Institute of Payroll Professions (CIPP) qualification to strengthen his skills further.

Layton said: “I would definitely recommend an apprenticeship to anyone looking to get into a career in payroll. You gain qualifications and work experience whilst getting your foot in the door of the industry.

“Everyone at Pierce has been so supportive and has provided me with a lot of advice and guidance. I’m not sure what my future career plans are, but I would like to develop my role and continue my learning here at Pierce.”

Lisa Kennery, Payroll Manager at Pierce, said: “Layton has worked so hard during his apprenticeship and his promotion is well deserved.

“It is very fitting that he completed his apprenticeship during National Apprenticeship Week. Layton has developed his core office skills enabling him to now concentrate and develop his technical payroll knowledge. Layton has a very bright career ahead of him and I can’t wait to see him continue to progress here at Pierce.”

If you’re interested in a career in accountancy and business advisory, Pierce is currently recruiting for various roles. To find out about the latest vacancies, please visit http://www.pierce.co.uk/about/careers/.

Pierce employees gain chartered status

Two employees from leading Lancashire-based accountancy and business advisory group, Pierce have become Chartered Accountants after gaining their ACA (Institute of Chartered Accountants in England & Wales) qualification.

Fred Green, who has followed in the footsteps of his father John, chairman of Pierce, and Charles Hopkinson, whose father is also an accountant and a client of Pierce, have completed the three-year accreditation after combining their work with studies.

The qualification means that Fred and Charles will take a more active role in the business managing client accounts as well as junior staff.

Fred said: “Becoming a qualified accountant provides great long-term job security as there will always be a demand for accountants and financial advisors.

“It does open the door to take on some additional responsibility. Ultimately, the sky is the limit in terms of what you can do with the qualification.

“Pierce have been incredibly supportive throughout my studies and have enabled me to create a strong work/life balance.”

Charles added: “Throughout my three years at Pierce, they have provided me with unlimited support and given me the opportunity to work on a variety of tasks and clients. As my colleagues understand the commitment required to gain the ACA they have allowed me the time that I needed to complete my exams.”

John Green, chairman at Pierce, said: “It is very rewarding to see both Fred and Charles become Chartered Accountants, the whole business is immensely proud of them. They are both home-grown talent and it is a well-deserved achievement.

“They are hard-working and talented individuals and will have a bright future ahead of them at Pierce.

“As a business, we are continually searching for graduates looking for a quality training opportunity as well as newly and recently qualified accountants and professionals looking for an exciting career at a friendly firm.”

If you’re interested in a career in accountancy and business advisory, Pierce is currently recruiting for various roles. To find out about the latest vacancies, please visit http://www.pierce.co.uk/about/careers/.

Trio of clients scoop Red Rose Awards

Pierce is celebrating after three clients scooped the top prizes at Lancashire Business View’s Red Rose Awards.

Wholesaler Albert Harrison & Co won Ecommerce Business Award, Bespoke Healthcare collected the Health and Care Business Award and Barnfield Construction was named the winner of a new category – the Lancashire Business View Award.

The results come after seven of Pierce’s clients were shortlisted for the prestigious Lancashire award ceremony held on March, 8 at Blackpool’s Winter Gardens.

Associate Director, Simon Diggle, who attended the awards said: “The Red Rose Awards 2018 was a fantastic event to celebrate the high level of talent we have here in Lancashire.

“Seeing seven of our clients being shortlisted and three clients winning awards made it an incredible evening for Pierce.

“Congratulations to everyone who was shortlisted and to all of the worthy winners on the night.”

They’re hired! Starters join Pierce

Leading Lancashire-based chartered accountancy and business advisory group, Pierce has added three new members of staff to its team.

Janet Moorhouse, Waqas UrRehman and Adam Zinga join the firm as payroll administrator, semi-senior accountant and accounts assistant respectively.

Thanks to a mix of new client wins and increased business activity, Pierce is performing well and has appointed the trio as part of an ongoing recruitment drive.

John Green, chairman, Pierce said: “With a growing portfolio of accountancy and payroll clients plus a busy pipeline of deals, acquisitions and disposals – Pierce is entering 2018 with a lot of momentum.

“This is fuelling a need to attract bright new staff members, so we’re delighted to welcome Janet, Waqas and Adam to the team. They’re all passionate individuals with a talent for client service so I look forward to working with them at Pierce.”

Pierce specialises in business advice, tax, accounts, auditing, payroll and offers wealth advisory services with chartered financial planner Marcus Pilkington on hand to provide advice to clients.

John continues: “At Pierce our aim is to help clients solve their challenges by delivering a broad range of services underpinned by deep expertise. This absolutely depends on attracting and retaining the very best people.

“Speaking to business owners in our network, the appetite for investment and deals is on the rise in 2018, so we’re keen to gear up for a busy year by increasing our capacity and boosting our knowledge base.”

John concludes: “We would encourage newly and recently qualified accountants and all professionals looking for an exciting career at a friendly firm or graduates looking for a quality training opportunity to get in touch via our website.”

“Recent exam successes, Charles Hopkinson and Fred Green are now fully fledged Chartered Accountants.  It is very rewarding for the whole firm when our home-grown talent makes it through this qualification.”

If you’re interested in a career in accountancy and business advisory, please visit http://www.pierce.co.uk/about/careers/.

For more information about Pierce services, please visit www.pierce.co.uk or call 01254 688 100.

 

Changes to company car benefits – are you ready?

From April 6, 2018 there will be a change to the way company car benefits are payrolled, improving the process for both the employee and employer.

From the new tax year, if you choose to payroll company cars, the car information must be submitted via payroll and tax will be collected in real time through a monthly deduction.

The new streamlined process will reduce the number of tax calculation errors, eliminating the chance that employees will be landed with a big underpayment bill. The changes are easier for employees to understand as the tax code will remain at the personal allowance, presuming the employee has no other adjustments.

There’s benefits for employers too as P11Ds and P46 cars will no longer be required, reducing the amount of paperwork and saving valuable time.

Form P11D(b) is still required to report class 1A National Insurance due and companies need to provide the employee with a summary of the benefits payrolled, the cash equivalent as well as details of any benefits not payrolled, before June 1 every year.

The change means that all benefits apart from beneficial loans and employer provided living accommodation, can be processed through payroll.

If employers wish to payroll benefits in the 2018/19 tax year, they will need to act fast and register prior to the start of the tax year. If you use payroll software, then most platforms are ready for the change.

Although the payrolling of benefits is still voluntary, HMRC are moving to real time, so we predict that this will become mandatory in the near future.

After successfully completing payrolling benefits with a client, we are looking to roll it out to other businesses ahead of the implementation date. If you would like Pierce to help you with the changes, contact Lisa Kennery on 01254 688 110 or email l.kennery@pierce.co.uk.

Lisa Kennery is the payroll manager at Pierce.