Latest News

Innovation and the Glencroft chair of wool

In our recent Family Business survey, we asked how often companies “felt pressure to adapt and innovate in order to keep up with an ever changing environment”.  As I look at the results it occurs to me that one survey question cannot do justice to the vast subject of innovation.

There were some really interesting results from the original question.  38% did not feel any pressure to adapt or innovate at all. A further 11% felt that they “sometimes” felt the need to adapt or innovate. 

Proud sponsor of Cumbria Family Business Awards

This Friday 9th March we’re proud to join forces with businesses across Cumbria as we celebrate the second Cumbria Family Business Awards. The county’s family firms will battle it out in 11 categories, with the winners from each then competing for the coveted ‘Outstanding Family Business of the Year.’ With nearly 90% of businesses in Cumbria being family run, and with Armstrong Watson’s 150 years of experience advising and supporting family firms, we are delighted to see the awards return for a second year and repeat our role as a main sponsor of the event.

GDPR is here to stay...is your business ready?

The EU’s General Data Protection Regulation (‘the GDPR’) comes into effect on 25 May 2018 with the ICO’s enforcement powers to include powers to ban or suspend data processing, potentially at great cost and inconvenience.

The ICO will have the power to issue increased fines of up £17 million or 4% of global turnover, whichever is the higher. Currently, fines are capped at £500,000.

The Tractor or The Tax?

What are the most common methods used to reduce a tax liability? Find out what factors you need to consider before taking action.  The common solution to reduce taxable profits and therefore your tax liability is to buy some machinery that will qualify for full relief in the year of purchase (expenditure covered by the Annual Investment Allowance) so that the taxable profit is much lower than the accounting profit made - generally the higher the cost, the more tax relief you will get. 

Life and Death

Losing a loved one is a difficult enough thing to come to terms with, but if you add in the complication of the financial status quo being disrupted, the grief is compounded. Most people want to know that their loved ones are taken care of should they die, but how many have made sure that this is the case?

The Company Car of the Future

Car manufacturers are always trying to convince us of the merits of their newest innovations and the most up to date versions of their cars.  There is a lot of news about the impact of technology on the cars we drive; from in car entertainment systems, sat-navs, automation and electronic power all informing us about the cars we will have in the next 5 – 10 years.

HM Revenue & Customs’ figures suggest that there are almost 1 million company cars in the UK.  The taxation of company cars raises significant revenue for the Government.  What will the future company car be like?

Find out your hotel occupancy rates compare in our latest 2018 report?

Our new hospitality occupancy benchmarking report for hotels based in the North of England and Scotland has recently been released.

Our report focuses on the trends in six distinct regions across the North, Scotland, Carlisle, The Lake District, The North East, Leeds & Bradford and Harrogate & York. This allows you to focus on regional trends applicable to your business alongside wider movements affecting the industry as a whole. As our report makes clear, the UK hospitality industry continues to face a time of uncertainty, but also of great opportunity.

Armstrong Watson Welcomes New Partner to Head-up Healthcare

Morag Miller has joined Armstrong Watson LLP, Accountants, Business and Financial Advisers to head up the firm’s Healthcare sector.

Based at their Leeds office, Morag joins Armstrong Watson from BDO and has taken up the role of Partner, bringing with her team members Anna-Marie Burke and Andrea Burnett.

Morag has extensive experience within the medical sector, having worked with NHS organisations (primary and secondary care) and latterly, GPs, providing compliance, advisory and consultancy services.

Armstrong Watson Acquires Haines Watts Glasgow Office

Armstrong Watson, Accountants, Business and Financial Advisers have acquired Haines Watts Glasgow office as part of their plans to expand the business across Scotland and the North of England.

What is the right staffing cost for your business?

After sitting with the Board of DIrectors for a maunfacturing client, reviewing their monthly managment accounts, Tony challenged them on what was the right salary cost for their business? This lead to a review which uncovered some interesting conclusions.