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Will firms run out of cash and what should they do about it? – Professional Practices Alliance Webinar, 13 October 2021, 9.30 am – 10.30 am BST

Join the Professional Practices Alliance (PPA) for the expert panel discussion “Will firms run out of cash and what should they do about it?”, on Wednesday, 13 October 2021, in which our expert panel will discuss forward-planning strategies for firms to address the implications of tax changes and basis period reforms.

Earlier this summer, the Treasury launched a consultation to reform taxation for self-employed businesses where the accounting year for the business differs from the tax year.  Under the proposals, the transition for the change was due to take place in 2022/23, however last week the Treasury announced a delay by at least 12 months with the transition not coming into effect before 2023/24.  In addition, the Government recently announced a new health and social care levy by increasing National Insurance Contributions by 1.25% to take effect from 6 April 2022, before the Budget announcement on 27 October.  This Professional Practices Alliance webinar will explore the changes that all Partners and Finance Directors should consider and the impact to their businesses, including:

  • What are the changes that have been announced?
  • How will they affect tax payments?
  • Will you need to review how your firm is capitalised and the strategic implications, in light of the new requirements?
  • How will the changes affect a business’s ability to invest in its future?
  • Will there be an impact for senior employees in LLPs?
  • How should firms promote senior employees?  What are the wider implications and how should new partners be rewarded?
  • What will the effect be on structuring (and even the nature of the entity) and partner/LLP status?

Register for this event here

Date: Wednesday, 13 October 2021
Time: 9.30 am – 10.30 am BST

Should you have any questions or issues that you would like addressed by the panellists, please email panel Chair Claire Watkins.

Speakers:

James Currie, Senior Tax Manager, Buzzacott LLP
Zulon Begum, Partner and Head of Non-Contentious Partnership Practice, CM Murray LLP
Rob Millard, Founder, Cambridge Strategy Group
Corinne Staves, Partner and Head of Professional Practices, Maurice Turnor Gardner LLP

Claire Watkins, Partner and Head of Professional Practices, Buzzacott LLP (Chair)

You can also register for upcoming PPA webinars below:

3 November 2021: Things we learnt in the pandemic – re-envisioning your firm’s strategy and structure post-pandemic and taking your partners with you. We plan to trial a hybrid session so that attendees can choose whether to attend virtually or in person – register here

1 December 2021: ESG and professional services firms – register here

The Professional Practices Alliance is a multi-disciplinary collaboration between leading UK independent legal, accounting and law firm management specialist advisers, CM Murray LLP, Buzzacott LLP, Maurice Turnor Gardner LLP, Pep Up Consulting and Cambridge Strategy Group.