The Budget: trick or treat
James Pinchbeck, Marketing Partner, Streets Chartered Accountants
Yesterday Rachel Reeves, our first female Chancellor, delivered a Labour government’s first Budget in 14 years. The day before Halloween it certainly seemed to come with its own tricks and treats, but perhaps not the ones you might expect.
For a start, it would seem an incoming government chose to blame the previous one for the mess and the financial situation they have inherited. The first 20 minutes of her speech focused on, from her perspective, their predecessors’ failings in terms of delivering on promises and ‘tricks’ to disguise the £22bn black hole.
A Budget with a £40bn price tag
Against this background she then set out how she and the government were going to ‘rebuild Britain once again’ and restore economic stability. Who might have thought that would come with a £40bn price tag or in this case tax rises.
Whilst much of what is said to be raised following the Budget will seek to fill the ‘black hole’, some £20bn should also form part of proposed or rather committed investment in public spending including health, housing, infrastructure, defence and education. All of which, perhaps with the exception of defence spending, should help to improve our lives and economic prosperity.
The million-dollar question is who is going to pay for all this?
Sticking to their electoral pledge it is not ‘working people’ through changes to income tax, VAT nor employee’s national insurance.
No, the biggest contributor looks likely to be businesses, with the proposed increase in employers’ national insurance contributions by 1.2% to 15% and with the earnings threshold reduced from £9,100 to £5,000 from next April, set to raise £25bn a year by the end of this parliament. The Employment Allowance, which allows those with NICs bills of £100,000 or less to deduct £5,000 from their employer NIC bill, will be increased to £10,000.
More modest in the tax it will generate, with only £2.5bn forecast to be raised, is the announced increases in Capital Gains Tax (CGT), with the lower rate rising from 10% to 18% and the higher rate from 20% to 24%. It was also announced that the rate of CGT on assets qualifying for Business Asset Disposal Relief and Investors’ Relief will rise gradually to 14% from 6th April 2025 and to 18% from 6th April 2026.
Whilst perhaps changes to inheritance tax were not as wide ranging as we thought they might be, changes to Agricultural Property Relief and Business Property will be more impacting. From April 2026, reforms include the first £1million of combined eligible agricultural and business assets for 100% relief, with excess assets at 50%. Also, from next April the government will introduce a new residence-based system for IHT, ending the use of offshore trusts to shelter assets from IHT.
Other tax rises include the increase in Stamp Duty Land Tax for the purchases of additional dwellings, changes to company car tax and the charging of VAT on public school fees. These are along with other measures to address tax avoidance, late payment of tax due and the abolishment of the non-domicile regime.
What were the treats?
Perhaps the treats, for some, may be the announcements were not as wide ranging or hard hitting as might have been expected. Certainly, the continued freeze on fuel duty will be welcome, for lovers of beer so too might be the penny off a pint.
For those serving a pint and those in retail, hospitality and leisure it must be good news that for 2025/26 eligible properties will receive 40% relief on their business rates liability, with the small business multiplier to be frozen for 2025/26.
For those on the ‘national living wage’ so too will be the increase in rate by 6.7% to £12.21 an hour.
What challenges does it present?
This Budget raises challenges and potential issues for those looking at inter-generational wealth planning and the handing of assets from one generation to the next, both from a business and personal perspective, but especially for farmers.
Also, is the consideration around the timing of the sale and disposal of assets, businesses and property that is subject to CGT and Business Assets Relief, formally Entrepreneurs Relief.
The other key area is around absorbing or managing increased staffing costs through the increase in national insurance and the national living wage. It certainly seems more and more challenging to pass on increased costs without affecting revenue, therefore profitability could be at risk.
With this Budget setting the scene or tax landscape for the term of this government and with the announcement that we will only have one Budget a year, we should all be better placed to consider effective tax and financial advice to manage our affairs and the challenges and opportunities we face. Often uncertainty is used to defer or put off planning, perhaps for once this Budget provides, whether we like it or not, the certainty we need.
Government changes drive demand for HR expertise as Breedon Consulting expands franchise network across the Midlands
Midlands-based HR consultancy, Breedon Consulting, has welcomed two new franchisees to its team, expanding its reach across the region to meet the rising demand for HR guidance amidst a rapidly evolving legislative landscape.
Helen Dinsdale, LLM, will cover South Birmingham – including Redditch, Solihull, and Stratford-upon-Avon, while Maralyn Kitchingman will serve Warwickshire – spanning Warwick, Leamington, Coventry, and Rugby.
This strategic expansion aims to position Breedon as a go-to resource for local businesses navigating complex employment law changes and evolving workforce demands.
With the UK government preparing to implement some of the most extensive reforms to employment legislation in recent history, the new franchisees join Breedon at a critical time, particularly among SMEs, with HR services expected to be in high demand.
The changes include: ‘day one rights’ meaning employees will now be eligible for rights like paternity, parental, and bereavement leave from their very first day; and ‘protections against unfair dismissal’ that will also begin from day one, a shift that necessitates employers to rethink hiring and probationary processes.
Managing Director, Nicki Robson, emphasised the importance of Breedon’s expansion in response to this need: “There couldn’t be a better time for Helen and Maralyn to be starting their Breedon journey. The government’s recent announcement of the biggest upgrade to workers’ rights in a generation, will see the introduction of significant changes to employment legislation which all employers will need to grapple with. Many simply won’t have the resource or expertise to handle major changes like this internally, so having a HR expert on hand to guide and advise on what those changes mean and what they need to do, has a clear benefit.
“Expanding our franchise network allows us to partner with HR experts who share our passion for collaboration and a consistently high quality of service, to really add value to our clients. Together, we aim to build a robust network that thrives on shared expertise, innovation, and the continuous pursuit of excellence in the HR space.”
Franchisee, Helen, brings a diverse and extensive background in HR, with a Masters in Employment Law and experience spanning key roles at Deloitte, The AA, and South Staffordshire Water. With a career that includes leading large-scale HR transformation projects, Helen has developed a strong foundation in HR operations, business partnering, and change management. She is well-versed in the complexities of HR and understands the unique challenges faced by SME enterprises. Her expertise in implementing strategic HR initiatives, from flexible benefits to high-impact employee engagement programs, positions her well to support clients.
Helen said: “Breedon’s pragmatic and high-impact approach really stood out to me. The tools, resources, and support provided by Breedon give me everything I need to deliver high-quality, effective HR services. With the significant legislative changes ahead, I look forward to making a difference in my clients’ businesses by helping them adapt with confidence and compliance.”
With over 25 years of HR experience across diverse industries, franchisee, Maralyn, is a seasoned HR leader with a track record of aligning people strategies with business objectives to drive growth and innovation. Known for her hands-on and practical approach, Maralyn has played a key role in building HR functions from the ground up, as well as shaping corporate culture and enhancing employee engagement. Her extensive background makes her well-equipped to support businesses as they face the upcoming shifts in employment law.
Maralyn said: “For me, joining Breedon was about finding a reputable, established brand with a proven business model. Breedon offers an incredible support system, comprehensive training, and the flexibility to align with my personal goals while delivering exceptional service to my clients. I’m thrilled to be part of a team that is proactive about helping businesses manage these upcoming legislative changes and dedicated to ensuring that HR practices contribute meaningfully to business success.”
Breedon Consulting continues to seek experienced HR professionals with commercial acumen to join its franchise network, helping businesses to navigate HR challenges effectively. With its expanded network and comprehensive support framework, the business is committed to guiding organisations through compliance, fostering positive workplace cultures, and strengthening HR practices amid a shifting employment landscape.
SMB College Group launches skills bootcamp on sustainable land management skills
SMB College Group is excited to announce the launch of their brand-new Skills Bootcamp in Level 2 Sustainable Land Management Skills!
The Skills Bootcamp is an intensive 12-week course designed to equip individuals with essential practical skills and knowledge for a career in the land management sector, with a strong emphasis on sustainability.
Covering key areas such as health and safety, machinery operation, habitat and forestry management, and regenerative agriculture, students will develop confidence in working with chainsaws, tractors, brush cutters, and more, while also learning critical digital tools like mapping software and social media for the land-based sector.
With a focus on decarbonizing agriculture, sustainable forestry, and practical estate skills, this course prepares participants to thrive in a rapidly changing environmental landscape.
Upon completion, learners will be ready to pursue employment in farming, forestry, environmental management, or related fields, while contributing to a greener future.
Alex Gray, Curriculum Quality Lead and Programme and Project Lead for Agriculture at SMB College Group, said “I’m thrilled to announce that this year we’re offering our Sustainable Land Management Skills course.
Whether you’re employed, unemployed, or self-employed, this course provides a comprehensive overview of the sustainable land management sector, with insights into the various sub-sectors that play a vital role in environmental stewardship. If you’re passionate about a meaningful and rewarding career in the outdoors but aren’t sure where to start, this course is the perfect springboard into this increasingly significant industry.”
The Skills Bootcamp will be taught at SMB College Group’s Brooksby Campus, an 850-acre campus based in the heart of the Leicestershire countryside and specialising in land-based industries. The campus is home to Hall Farm, sprawling fields, an equine centre, and animal studies facilities.
Nottingham named 8th best UK city to start a new business
A new study has revealed the best UK cities to start a new business, with Blackpool taking the top spot.
Experts at IT service software InvGate analysed data from the Office for National Statistics to find the number of registered businesses in UK cities in 2022 and 2023. The final ranking was determined by the cities with the greatest percentage increase of new businesses from 2022 to 2023.
Blackpool tops the ranking, with a 7.24% increase in new businesses between 2022 and 2023. The city grew from 3,870 businesses in 2022 to 4,150 in 2023, for a total increase of 280 establishments. 125 of those newly registered businesses were in the transport and storage sector, and 110 were in the business administration and support services sector.
In second place is Doncaster, with new businesses increasing by 2.23% between 2022 and 2023. Doncaster recorded a gain of 220 establishments, going from 9,870 in 2022 to 10,090 in 2023. 100 of those businesses were in the business administration and support services sector, and 55 were in the construction industry.
Third in the ranking is Ipswich, with an increase of 2.06% in business establishments between 2022 and 2023. From 4,610 businesses in 2022, Ipswich climbed to 4,705 in 2023 for a total increase of 95 – 45 being in the construction industry and 30 being in the transport and storage sector.
The importance of landlords giving new tenants a proper welcome
According to recent research, nearly one-in-five homes in the UK are privately rented. In such a competitive market, landlords need to be able to build positive relationships with their tenants. A warm and well-organised welcome can go a long way to starting things off on the right foot. Here, we’ll offer a few practical tips that will hopefully foster feelings of goodwill and make a difference in terms of tenant satisfaction, retention and property care.
Making a good first impression
This can set the tone for your tenant’s entire experience. A clean, well-maintained property speaks volumes about your commitment and attention to detail. Professional cleaning prior to move-in, for instance, is recommended as it offers a pristine, move-in-ready home that tenants appreciate.
And first impressions can be strengthened through well-assembled documentation – for example the tenancy agreement, inventory and safety certificates. Including these in a welcome pack not only covers legal bases but also signals transparency and organisation, key qualities that many tenants look for in a landlord.
Effective communication from the outset
Introducing yourself, whether in person or through a well-crafted welcome letter, is a great first step. This letter can briefly outline who you are, how to contact you and any key property rules. It’s also helpful to set clear expectations about communication boundaries, such as your preferred contact methods for non-urgent requests. This clarity helps avoid misunderstandings down the line. Fran Giltinan, Managing Director of Property Management & Customer Experience at Foxtons, expands on this point:
“You should prioritise a check-in, which ensures you’ve completed all mandatory safety checks. Importantly, it sets a clear baseline for you and your tenant, aligning your expectations for the property’s condition at the tenancy’s end.”
Personalised welcome packs
This can be digital or physical, providing valuable information and resources. It should include a combination of legal documents (like the tenancy agreement and deposit protection certificate) and practical items, such as manuals for appliances, utility set-up guidance and a local amenities guide. Thoughtful additions, like a few local snacks, gift cards or a directory of nearby services, help tenants feel at home immediately and reduce the need for initial questions.
Post move-in support
Welcoming tenants doesn’t stop at move-in day. A follow-up message or call a few days after moving in shows tenants that you are approachable and committed to their satisfaction. This simple gesture can be an invitation for them to raise questions they may have hesitated to ask otherwise, such as about recycling schedules, security systems or parking rules. Proactively providing guidance on common issues, like preventing damp or managing utilities, can also be a valuable aspect of post-move support.
Building strong relationships
Establishing a genuine relationship benefits both parties. When your tenants view you as approachable and considerate, they are more likely to communicate openly, care for the property and stay longer. By engaging with them personally, rather than through agents, you’ll find it easier to resolve issues directly and maintain positive interactions. Over time, tenants who feel valued are generally more cooperative, punctual in rent payments and respectful of the property.
Giving your tenants a warm welcome isn’t just about goodwill; it’s a strategic approach to property management. If you can create an environment where they feel respected and at home, this will likely lead to a smoother tenancy, benefiting both sides of the agreement.
Awards…yes it COULD be you, but you need to buy a ticket to win a raffle: by Greg Simpson, founder of Press For Attention PR
Greg Simpson, founder of Press For Attention PR, shares why businesses should be entering awards.
Picture yourself in the audience at the Bricks Awards next year or at any awards for that matter.
The mystery celeb (or if you’re unlucky, ME) has the envelope clutched tightly. A chance beckons for glory, a whole heap of marketing opportunities, and the kind of positioning and brand boost that only awards can provide.
But you haven’t entered.
You’re there because it’s a great event full of energy, some networking opportunities and great stories and well, you know some of the finalists, so you’ve popped along to show your support.
Well done you!
One question remains…why HAVEN’T you entered?
You know what winning an award could do for your business. Don’t you?
- The immediate photo opportunity with the celeb or the judges.
- A chance to share your story with the audience.
- Then the thousands of readers of the associated media partner who will get to know who you are and your offering.
- The social media campaign kickstarted with a blaze of glory.
- The e-newsletter you can put out again because “I finally have something to say.”
- The newspaper front page mock-up you send to your prospects.
- The blog series that shares how you got to where you are today.
- The interviews you set up with fellow winners that elevate the opportunity for all of you.
- The chance to come back NEXT year perhaps to present the award to the winner and do it all again.
‘Rebels of accountancy’ make further acquisition
Cooper Parry (CP) has completed the acquisition of fast growing NetSuite consultancy, MacroFin.
The firm’s 11th deal in less than 2 years sees the ‘rebels of accountancy’ target £185m group turnover for the current financial year. The deal is also the second of their rapid expansion within the digital and tech space following the recent acquisition of Salesforce consultancy, Cloud Orca.
MacroFin is a NetSuite-certified ERP consultancy specialising in the implementation of NetSuite products and other support packages.
Co-located in London, Manchester and the Philippines, MacroFin has proven experience across all sectors, including fintech, professional and financial services.
The deal further accelerates CP’s creation of the UK’s next-gen professional services group – embracing accountancy, wealth management, tech and law.
The firm’s headcount now tips 1,450 including 128 Partners, across superhubs in London, the Midlands, Manchester and the Thames Valley.
Cooper Parry CEO, Ade Cheatham, said: “This MacroFin deal is another massive statement for CP – both for our offering in the digital/tech space, but also for our sustainable next-gen group ambitions.
“The momentum across the UK grows and grows, right on the back of our two transformational deals last month in Manchester and Thames Valley – as well as some brilliant strategic hires. Ross, Steve and his team have created a cracking business and it’s another key piece in our tech expansion.”
MacroFin CEO and co-founder, Ross Latta, added: “The reason that Steve and I launched MacroFin was that, as two chartered accountants with 10+ years client-side experience, we believed that finance and ERP implementations could, and should, be more successful if they were predominantly finance-led. Truly, we have built a business which is NetSuite for accountants, by accountants.
“So, it’s no surprise that the business fit with Cooper Parry is a natural one.
“Not only are they accountants, but they’re also one of the most dynamic, fastest-growing, team-focused accountants around who share our ambition and dedication to growing both our, and our clients’ businesses.
“Steve and I are incredibly proud of, and grateful to, the team we have built and this move brings a completely new level of opportunity for our team to grow and reach the potential we know it has. We cannot wait to see how far we can all go together.”
Corby Town Centre agrees 10-year lease with B&M
Corby Town Shopping & Willow Place (Corby Town Centre) has agreed a 10-year lease with B&M. B&M will take up 40,242 sq ft of space at 1 Queens Square, in the heart of the town centre.
This is the latest in a string of major leasing initiatives undertaken at Corby Town Centre. Leases have been exchanged with both Cards Direct and Boyle Sports, both of whom are due to open in time for Christmas.
A new lease has also been completed with Shoezone, which relocated within the town centre to upsize its premises. The recent strong demand from both the national market and local independents has pushed the centre’s occupancy to 95%.
With an annual footfall of 8 million, Corby Town Centre is home to Primark, TK Maxx and H&M. The centre comprises over 150 shops, bars and restaurants.
Corby Town Centre was acquired by Northdale Asset Management and Magnetar Capital in late 2022. Sovereign Centros from CBRE act as Asset Managers of Corby Town Centre and are advised by Wright Silverwood and Knight Frank.
Tom Nuttall, Asset Manager at Sovereign Centros from CBRE, said: “Corby Town Centre is the premier shopping and leisure destination for North Northamptonshire, home to many of the country’s leading retailers. Following a proactive leasing strategy, B&M’s new anchor store, in addition to other significant lettings, further positions Corby as a vibrant hub for residents and visitors.”
CT Skills launches new payroll apprenticeship
CT Skills, the apprenticeship and training providers, has launched a new Payroll Administrator Apprenticeship.
The new Level 3 apprenticeship has been created to meet demand for people with payroll qualifications from companies across the UK, and from learners who are keen to continue their professional development and specialise within this area.
Alex Ford, CEO at CT Skills, said: “We are witnessing strong demand from employers for people with payroll qualifications. As it is a qualification that can be used across all sectors there is plenty of opportunity for people looking to develop their skills in this area.
“We have learners that are undertaking HR or accountancy apprenticeships, so the Payroll Administrator Apprenticeship has been designed as a progression route for both these courses. Also, many existing payroll staff are self-taught and whilst having a wealth of on the job experience, this gives the opportunity to get additional training, a formal qualification and recognition for that expertise.
“It provides another option for people to build on the knowledge they have gained in their current role, as part of a HR or accountancy apprenticeship and, if they want to, move into a slightly different job role.”
The Payroll Administrator Apprenticeship is a 16-month programme that covers the practical skills required for a career in payroll, and also the range of legal and financial knowledge, such as tax and pensions, that is necessary to be successful in the role. It will also include training on how to comply with any changes outlined in the Autumn Budget to payroll legislation, pension contributions and Employers National Insurance.
Learners undertaking the apprenticeship will study for the qualification through in work training and online with the support of CT Skills’ expert training team. The company is expecting strong demand, with an initial cohort of 30 spaces available over the next three months.
CT Skills works closely with the Department for Education (DfE) and employers to develop apprenticeships that provide learners with the skills they need for a successful career. When developing the Payroll Administrator Apprenticeship, CT Skills collaborated on a DfE ‘trailblazer group’ that fine-tuned the skills required on the course to make it as relevant and effective as possible.
Michelle Phoenix, CT Skills’ Head of Quality and Curriculum, adds: “We want our learners to go into employment and therefore we need apprenticeships to be applicable and give people real skills and experience that they can take into the workplace.”
Stannah colleagues brave charity abseil at Northampton Lift Tower
32 of lift specialist Stannah’s colleagues participated in a thrilling and challenging charity abseil at the iconic Northampton Lift Tower on Saturday 26th October 2024.
Originally designed as a testing facility for lifts and now a centre for research and development, the 127-metre (418-foot) Northampton Lift Tower is the UK’s tallest permanent abseil tower.
The team faced the daunting drop with courage, overcoming personal fears and challenges as they descended this iconic structure. Through their collective efforts, they raised an impressive £8,124 for the UK Lift Industry Charity, which provides financial aid to the families of lift industry workers who have been injured or lost their lives at work.
The Stannah Group generously covered the costs of the abseil and matched the donations, bringing the total to £16,248 for the UK Lift Industry Charity.
Jools Black and Gemma Moore, Trustees of the UK Lift Industry Charity, attended the event and even took on the challenge of abseiling themselves. Jools expressed their gratitude, saying: “A huge thank you to everyone at Stannah who contributed and participated in the abseil. Every penny raised goes towards supporting engineers or anyone in the lift industry who’s been unfortunate to get injured while on the job.”
Gemma continues: “Just before I went over the edge of the tower, I received a text from one of the lift engineers we’re currently assisting through the charity. He thanked us for the financial and wellbeing support, saying it eased his mind so he could focus on recovery. His message gave many of us the courage to take that step and complete the challenge.
“A massive thanks to everyone for raising funds for the UK Lift Industry Charity.”
Dan White, Service Director from Stannah Lift Services, said: “It was lovely to have so many staff from across the branches and divisions within Stannah to come together on the day. I’ve heard the camaraderie and team spirit was great with many families coming on the day to support their loved ones and the whole team.
“Not only was it a fantastic team and personal achievement for everyone, but it’s also a meaningful way for us to give back to communities and charities close to our hearts.”
Donations to support the Stannah team’s fundraising efforts can be made through their fundraising page at Just Giving.
