In Focus Issue 28 Winter 2025 | Randall & Payne Accountants and Business Advisors

Issue 28 | winter 2025 randall-payne.co.uk

We make your success our priority

TM

Budget Day summary & insights

Business Improvement Tools

The key to unlocking opportunities BUSINESS ADVISORY

ACCOUNTING SERVICES Our team help to find the hidden cash to invest in your business and ensure success

5-month business sale success audit A trainee shares their progress after a year with the team

- CORPORATE FINANCE PAGES 16 & 17

TIM’S VIEW

community

OUR NEWS

GUEST ARTICLE

COMMUNICATION IS KEY, TIM SAYS IT’S GOOD TO TALK

VOLUNTEER SUCCESS, CHELTENHAM TRUST & CHARITY UPDATE

STAFF SUCCESS, ENVIRONMENT & CELEBRATING 145 YEARS

STORY OF INNOVATION BY TANYA BUXTON

WELCOME

MEET OUR SENIOR TEAM Tim Watkins Shaun Pegler | Partner

Managing Partner

Will Abbott Partner Specialism: Business Advisory

Rob Case Partner Specialism: Tax & VAT

Ollie Newbold

Welcome to issue 28 of In Focus.

This is my first welcome for In Focus, although you may have seen me as the ‘cover star’ of previous issues! There is a lot to share with you, which is why this is such a bumper issue.

Getting out and about to meet businesses face-to-face is key for me to keep abreast of the issues that businesses are facing and helps to facilitate the informal conversations that identify where there are missed opportunities or to make suggestions to assist in their growth journey. This is why I choose to visit clients on site and have been recently working out of the Growth Hub in Cirencester offering advice clinics, and meeting my peers at networking events such as the Budget event featured in this issue.

We give a summary of the Budget which we watched at our live screening event at Kingsholm with our event partners Rathbones and almost 100 business leaders.

What an eventful first Budget from the Labour Government it proved to be with a raft of announcements across all areas of tax. See pages 4-11 for our full Budget round-up.

Nikki’s article about finding hidden cash on page 15 explains how we discuss ways to improve efficiency and financial health for our clients, and we are bewildered when talking with new prospects who haven’t had the best advice and have missed out on potential opportunities.

On page 14, I share the story of The Wildings Campsite and my quest to help them with their growth strategy, to ultimately build their

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dream home. Our guest article on page 26 is another of my clients, Tanya Buxton from Paradise Tattoos, fresh from winning an award for her innovative business. I am very fortunate to have such a variety of interesting clients and enjoy showcasing their success in our magazine.

My colleague Ollie shares a story on pages 16 and 17, explaining how experience and collaboration achieved the sale of bespoke Cleaning Services to the Atlas FM Group, ensuring the business continues to be run with the same ethos and strong values it was built on.

Will’s article on pages 18 and 19 provides insights into the areas his business advisory tools focus on, and how changing your mindset will unlock your business opportunities. In the Business Bootcamp article on page 20 we learn how an external perspective will provide valuable validation from your peers.

We have had lots to celebrate since the last issue, from 145 years in business to recertification for ISO 14001, Environmental Management System, plus staff and charity successes too.

As I said, a bumper issue with plenty more news and useful insights in this issue which we hope you find of interest.

Partner Specialism: Corporate Finance

Ryan Moore Partner Specialism: Audit

Nikki Cairns Partner Specialism: Accounts

Shaun Pegler Partner Specialism: Accounts

James Geary Partner Specialism: Corporate Tax

Ben Burch Client Director Specialism: Audit

Nicholas Gratton Client Director Specialism: Accounts

Subscribe at www.randall-payne.co.uk/ news/subscribe-to-in-focus T: 01242 776000 E: marketing@randall-payne.co.uk randall-payne.co.uk @RandallPayne

Randall & Payne LLP

Chargrove House, Shurdington Road, Cheltenham GL51 4GA Printed on Carbon Captured paper.

Supporting the

CONTENTS

In this issue news FOCUS | 4 – 11 Budget summary and insights

Tim’s view | 12 It’s good to talk

AUDIT | 13 An Audit trainee shares his story

P4 Budget Round-up

ACCOUNTING SERVICES | 14 Shaun is helping his client to achieve their dream of building their forever home

ACCOUNTING SERVICES | 15 Nikki and the team help to find the hidden cash for your business

CORPORATE FINANCE | 16 – 17 Ollie shares the story behind his 5-month business sale success

Business Advisory | 18 – 19 Will’s business improvement tools that unlock the secrets to make the most of your business opportunities

Business Advisory | 20

P16 bespoke sale success

Keeping ahead of the pack with Will’s Business Bootcamp

In the Community | 21 Celebrating volunteers and supporting The Cheltenham Trust

In the Community | 22 – 23 Our charity fundraising achievements for Teckels

Randall & Payne News | 24 – 25 Our focus on the environment and a celebration of 145 years in business GUEST ARTICLE | 26 Tanya Buxton of Paradise Tattoos

EVENTS | 27 Key dates for your diary

P18 Unlocking opportunity

randall-payne.co.uk 3

AUTUMN BUDGET 2024

Autumn Budget 2024

Rob Case | Partner

A summary of the key announcements The most hotly anticipated budget for a generation has been delivered by our Chancellor. It was the first such fiscal event of the new parliament and an opportunity to reform taxation to meet wider economic objectives.

It was the longest budget speech we can recall, with the first 15 minutes spent talking about the black hole this Government had inherited, then the announcement of a raft of tax changes, before commentary about how the investment in public services would help improve the services and raise standards.

We hosted an event with local business leaders at Kingsholm in Gloucester and whilst there was little positivity in the audience about the impact the budget would have on growth, there was a consensus that the budget may not have been as bad as attendees had expected. As usual, the devil is in the detail, and we have been trawling through the information we have to summarise the key impacts from the announcements.

Please contact us if you have any queries or would like some help with tax planning, and how this might affect you and your business.

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Freezing of Thresholds Rachel Reeves has confirmed that the income tax thresholds will remain frozen until 2028/29 and at that point will rise.

However, with an increase in the state pension rate of 4.1% for 2025, many who did not pay income tax beforehand (due to their earnings being less than the personal allowance) or who are currently basic rate taxpayers, will be pushed into tax over the coming years. The £5,000 starting rate for savings will also remain the same which is having an impact with current interest rates on savings, but overall, more people will be liable to pay additional tax.

Fuel Duty In an unexpected announcement, it was confirmed that there would be no increase in the rate of Fuel Duty. The temporary 5p cut in the amount of Fuel Duty was due to expire in April 2025 and many expected there to be an increase from then, but the rate of Fuel Duty will

remain frozen for now, which will be a welcome boost for consumers and those operating in the transport industry or directly affected by it.

James Geary Partner

Business Tax Business Tax Roadmap Aside from the National Insurance changes, very little has changed in the business taxes area of huge significance.

However the Budget did see, as promised, the release of a “Business Tax Roadmap” setting out the various areas of commitment for the duration of this parliament.

Much of this was already known but the key points are: � Capping the headline Corporation Tax Rate at 25%

NEWS FOCUS

� Retaining small profits rate (19%) and marginal relief rates and thresholds at current level. � Maintaining current Capital Allowances system, primarily the full expensing rules for limited companies, and £1 million Annual Investment Allowance for all businesses. They will also continue to look into expanding full expensing to assets used for leasing. � Maintaining the current rates of R&D Tax Reliefs, as well as consulting on widening the use of advance clearances for R&D claims.

There is also a commitment to work collaboratively with businesses on simplification and digitisation, suggesting that the Making Tax Digital project is by no means dead in the water.

In addition, they are committing to develop a “new process” for increasing tax certainty in advance of major investment decisions.

R&D As expected, there were no changes to headline rates or workings of the scheme.

However we have seen the publication of a couple of documents regarding the government’s approach to the scheme, including their compliance approach.

Numbers of HMRC enquiries into R&D claims are at an extremely high level have been widely criticised for the use of inexperienced officers using template refusals of claims.

This enquiry activity is likely to be the main driver behind a significant reduction in the number of claims by small and medium size businesses (55,325 in 2022-23, down from 71,905 the year before).

We have already been advising new entrants into the R&D claim regime that seeking advance assurance is beneficial in order to obtain certainty before submitting a claim, so it is good to see that the government is looking to expand this facility.

Capital Allowances The current 100% allowance on new and unused zero emission cars was due to end on 31 March 2025. This has been extended for a further year to 31 March 2026.

Benefit In Kind (BIK) rates on such vehicles are set to increase from 2% in 24/25 to 5% in 2027/28 (a 1% increase per year). This has now been extended by a further 2% increase in 2028/29 to 7%, and 2% more in 2029/30 to 9%.

Angela Munn Mixed Tax Accountant

Changes in National Insurance Currently employers pay National Insurance (NI) at 13.8% on salaries over £9,100. An employer with more than two employees generally benefits from an ‘employment allowance’ of £5,000 so no NI is paid until that cumulative liability has been breached.

From April 2025 the employer rate of National Insurance will increase by 1.2% to 15%. Furthermore, this rate of National Insurance will be applied to all earnings of more than £5,000 per employee (a significant reduction). To mitigate the effect for small businesses, the employer’s allowance will increase to £10,500. The allowance will be available for all eligible employers; it is currently not available when a company has an employer’s NI liability of over £100,000, but this cap will be removed.

Many small employers will not pay any National Insurance as a result, for example, a business employing four employees at the national living wage will pay no National Insurance. randall-payne.co.uk 5

AUTUMN BUDGET 2024

For an employer who has used up their Employment Allowance, an employee who earns £40,000 will cost a business approximately an additional £1,000 in Employers National Insurance than it does currently.

The biggest effects will be on medium to larger employers. Although not a tax on “working people”, they are likely to feel the impact as the additional cost to business may curtail their ability to reward employees through commercial pay increases and/or bonuses. This strategy is predicted to raise up to £25 billion for the government.

Class 2 and Class 3 NI rates will also increase by 1.7%. Class 2 NI is typically paid by self-employed people and Class 3 is the higher rate of voluntary NI which is used to fill in gaps in state pension credits. The weekly amounts payable will be £3.50 and £17.75 respectively, and the annual lower earnings limit (the threshold at which state pension credits are applied) will increase to £6,500.

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Joe Lock Corporate Tax Accountant

Tax treatment of double cab pick ups Following the notorious U-turn in February, the Government have stated that double cab pick-ups will no longer be treated as commercial vehicles from April 2025.

Amongst a host of announcements made in the Budget, the change in treatment of double cab pick ups (DCPUs) is something that went under the radar as it was not included within the speech itself. From 1 April 2025 for Corporation Tax, and 6 April 2025 for income tax, the vehicles will be treated as cars for the purposes of capital allowances, benefits in kind, and some deductions from business profits.

Back in 2020, HMRC won a tax case in the Court of Appeal against CocaCola which concerned certain DCPU vehicles. For many years the VAT rules have permitted DCPUs to be treated as vans rather than cars for VAT purposes where, broadly, they have a useful payload (carrying capacity) of at least

1 ton. In practice, HMRC had allowed this treatment to also apply to the rules for both Capital Allowances and employment benefits.

In February 2024, HMRC updated their manuals to clarify that in line with the Coca-Cola case, DCPUs would be treated as cars from July 2024 onwards. However, with the 2024 general election on the horizon, this decision was “U-turned” on just days later.

Fast-forward to now, the new Labour Government’s Autumn Budget Report contains details explaining that they will go ahead with the change originally made in February and will follow the decision made in the Coca-Cola case with DCPUs being treated as cars for Income Tax and Corporation Tax purposes from April 2025 onwards.

The existing capital allowances treatment will apply to those who purchase DCPUs before April 2025.

This means that any DCPUs purchased and available to the business prior to April 2025 will qualify for a 100% tax deduction the first year through the Annual Investment allowance (or full expensing if bought new and unused).

It is stated that transitional Benefit in Kind arrangements will apply for employers

NEWS FOCUS

that have purchased, leased, or ordered a DCPU before 6 April 2025. They will be able to use the previous treatment, until the earlier of disposal, lease expiry, or 5 April 2029.

These details give businesses a few months to plan ahead and potentially replace any DCPUs with new ones, as a last chance to benefit from the preferential tax treatment that they currently bring.

Rob Case Partner

VAT applied to Private School fees It was a Labour manifesto pledge for there to be VAT applied to Private School Fees and prior to the Summer Recess the Government published a consultation on how to introduce this measure. Back in July 2024 they even went so far as to release draft legislation as to how it would be enacted. So, the announcement in the Autumn Budget was not a surprise, despite many professionals suggesting it should be deferred to allow time for a more thorough implementation.

In summary, as of 1 January 2025, all education, boarding, and vocational training provided for a charge by a private school in the UK will be subject to VAT at the standard rate of 20%. Any fees paid after 29 July 2024 relating to the term starting in January 2025 onwards will be subject to VAT. The ramifications were actually wider than that as the Government also announced that schools in England with charitable status would lose their eligibility to business rates charitable rate relief from April 2025.

These measures are going ahead and the consultation has led to some amendments to the draft legislation which is encouraging. It is anticipated that these policies are expected to raise around £1.8 billion a year by 2029/30, which will help deliver the Government’s commitments relating to education and young people.

It has been confirmed that Schools within scope of this policy can now register for VAT and bespoke guidance has been issued to schools impacted by the measure.

Ethan Powell Private Client Tax Accountant

Capital Gains Tax Amongst a variety of changes announced at the Autumn Budget, Rachel Reeves confirmed an immediate increase in Capital Gains Tax (CGT) for disposals (other than for residential properties) made on or after 30 October 2024.

Whilst a change was expected, the detail of the increase is somewhat surprising; the lower rate will increase from 10% to 18%, with the higher rate increasing from 20% to 24%. This brings the general rate of CGT in line with the rate of disposals of residential properties, despite the speculation prior to the budget suggesting steeper increases.

What is Capital Gains Tax? CGT is payable by individuals when they sell a capital asset, such as shares in a company, at a ‘gain’ (i.e. they sell it for more than they purchased it for).

Individuals are entitled to an annual exemption (currently £3,000), with any gain falling within this being exempt randall-payne.co.uk 7

AUTUMN BUDGET 2024

from CGT. No changes were announced to the annual exemption.

Gains (other than residential property gains) are taxed at the individual’s marginal rate of tax. Where the gain spans across tax bands, such gains are taxed at the lower rate to the extent that the gains do not exceed the individuals unused basic rate band, and at the higher rate thereafter.

Example An individual sold 1000 shares in X Plc on 30 October 2024, at £100 per share.

They purchased the shares many years ago, at £20 a share, meaning they have a total gain of £77,000 (£100,000 proceeds less £20,000 cost and £3,000 annual exemption).

The individual’s taxable income (i.e. post deduction of personal allowance) within the year is £27,700.

Therefore, the first £10,000 of the gain will fall within the individuals unused basic rate band (up to £37,700) and subject to the lower rate of CGT, with the remaining £67,000 subject to the higher rate.

Old Rates £10,000 @ 10% £67,000 @ 20% Total 8

£1,000 £13,400 £14,400 – Winter 2025

New Rates £10,000 @ 18% £67,000 @ 24% Total

£1,800 £16,080 £17,880

Business Asset Disposal Relief (BADR) and Investors Relief (IR) Business Asset Disposal Relief (BADR), formerly known as Entrepreneurs Relief (ER) provides a lower rate of CGT for individuals who make a material disposal of business assets, which has previously been in line with the lower rate of CGT (10%).

Investors Relief (IR) differs to BADR in that it offers a lower rate of CGT (previously 10%) for external investors who are not connected to the company. Rachel Reeves confirmed the lifetime limit for IR will be reduced from £10 million to £1 million for all qualifying disposals made on or after 30 October 2024, bringing it in line with the lifetime limit for BADR. With the lower rate of CGT increasing to 18%, there will be a staggered increase to BADR/IR over the coming years to ensure they align with the lower CGT rate. Specifically, they will increase by 4% to 14% from 6 April 2025, and a further 4% to 18% from 6 April 2026. This means there is potentially an incentive in relation to those looking to exit a business in the short term as the tax rates will be lower.

Carried Interest Carried interest is a performance-related reward received by fund management executives. However, unlike other forms of compensation, carried interest may be subject to CGT rather than Income Tax, provided specific criteria are met. From April 2026, the Government will change this so that carried interest is taxed fully as income. In anticipation of the change, the CGT rates applied to carried interest will be increased to 32% from April 2025, during the transition period.

Rachel Roberts Private Client Tax Assistant Manager

The abolition of Furnished Holiday Lets It was previously announced that the Furnished Holiday Let (FHL) tax regime would be abolished from April 2025. This has been further confirmed following the Autumn Budget, by an update to the policy papers and the draft legislation.

This abolition will remove the various tax advantages of short term holiday lets, from both an income tax and capital gains tax perspective.

NEWS FOCUS

Increases to Stamp Duty Land Tax

Nil-rate band and Residence Nil-Rate band

Agricultural Property Relief and Business Property Relief

Anyone buying an additional residential property in England is subject to higher rates of Stamp Duty Land Tax (SDLT).

This previously equated to an extra 3%, however, this additional charge is now being increased to 5% with effect from 31 October 2024 i.e. a 2 percentile point increase.

The Inheritance Tax nil-rate bands were already set to be frozen at current levels until 5 April 2028 and have now been confirmed that they will stay fixed at these levels for a further two years until 5 April 2030. The nil-rate band will continue at £325,000 (the allowance set in 2009), the residence nil-rate band will continue at £175,000, and the residence nil-rate band taper will continue to start at £2 million.

Qualifying estates can continue to pass on up to £500,000 and the qualifying estate of a surviving spouse or civil partner can continue to pass on up to £1 million without an inheritance tax liability.

The Government has announced that it will reform these inheritance tax reliefs from 6 April 2026. In addition to existing nil-rate bands and exemptions, the current 100% rates of relief will continue for the first £1 million of combined agricultural and business property to help protect family businesses and farms. The rate of relief will be 50% thereafter, and in all circumstances for quoted shares designated as “not listed” on the markets of recognised stock exchanges, such as AIM (Alternative Investment Market).

This measure also applies to the purchases of residential properties by companies and to the single rate of SDLT payable by companies and other entities when purchasing residential property worth more than £500,000 (where the rate will increase from 15% to 17%).

Rob Case Partner

Inheritance Tax It was known in advance of the Autumn Budget that the Government was going to make some changes to the Inheritance Tax system. Apparently the Government is making the inheritance tax system fairer.

Unused pension funds and death benefits The Government will bring unused pension funds and death benefits payable from a pension into a person’s estate for inheritance tax purposes from 6 April 2027.

Whilst this will have a significant impact for many given the pension flexibilities now afforded, this will restore the principle that pensions should not be a vehicle for the accumulation of capital sums for the purposes of inheritance, as was the case prior to the 2015 pensions reforms.

This is a significant step, and will impact the potential Inheritance Tax position for agricultural estates and the farming sector especially. The Government calculates that this will affect around 0.3% of estates each year, however it feels like the impact will be greater than that. In effect this will bring in a 20% Inheritance Tax charge on amounts in excess of £1m.

Finally the Government has announced that it will invest £52 million to digitalise the inheritance tax service from 2027-28 to provide a modern, easy-to-use system, making returns and paying tax simpler and quicker, which can only be of benefit in a modern society. randall-payne.co.uk 9

AUTUMN BUDGET 2024

Rachel Roberts Private Client Tax Assistant Manager

Abolition of the non domicile regime With effect from 6 April 2025 the current tax rules available to non UK domiciled individuals will end.

The rules will be replaced by a system based on tax residency instead.

What is domicile?

There are various types of domicile. As a simplification it often refers to where someone is born. However, this is not always the case as it can also follow those they are legally dependent on and can be chosen.

An individual will become deemed UK domicile if they have been tax resident in the UK for at least 15 out of the previous 20 tax years.

What are the current rules?

Under the current rules non-doms who are UK tax resident can choose to be taxed on the ‘remittance basis’, which means they only pay tax on foreign income and gains brought into the UK. Although, there can be significant charges imposed to use remittance basis.

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What will the new rules be?

In short, the domicile rules are being scrapped. This means that from April 2025 non-doms will be taxed under the same rules as UK domiciled individuals. This means any individual who is UK tax resident will be taxed on all their worldwide income, regardless of whether their foreign income and gains are brought into the UK or not.

There will be a regime available to individuals in their first four years of UK tax residency, which applies 100% relief to foreign income and gains.

There will also be a temporary facility available to individuals who have previously claimed the remittance basis, allowing them to benefit from reduced rates of tax on foreign income and gains that arose prior to the changes.

The current domicile-based system of Inheritance Tax will also be replaced with a new residence-based system.

Nikki Cairns Partner

Agricultural Property Relief Agricultural Property Relief (APR), was widely expected to be changed and has probably been the area I have been asked about the most in the lead up to the budget. With a general expectation from the farming

community that APR might be completely abolished, the announcements that have been made are not quite so far reaching as some imagined they might be.

From April 2026 the first £1m of agricultural property within an estate will still attract 100% relief from IHT. The remainder of the agricultural assets will then receive 50% relief thereafter. Importantly, it should be noted that the £1m threshold includes not only agricultural assets but also other business assets of an estate i.e. company shares. The combined threshold may mean that even less of the agricultural assets are able to benefit from the 100% relief.

Taking this into account, the £1m threshold will only fully exempt small farms bringing several farms, that have until now been largely IHT free, into the realms of taxation on death. That being said, the timing of the changes should allow ample time for some IHT planning to take place.

A first step for any landowner should be to obtain a valuation to assess the extent of the potential issue they may face. The team at Randall & Payne can then assist with tax planning around mitigating the impact any future IHT liability.

To discuss your situation in more detail contact your advisor on 01242 776000, or email tax@randall-payne.co.uk and we would be happy to chat this through with you.

NEWS FOCUS

A big thank you to everyone who joined us for our Autumn Budget event with Rathbones at Kingsholm. Not only was it an opportunity to network and meet new people, but also informative to hear from the experts who dissected the announcements in an enjoyable way. The event was well attended with 100 Gloucestershire business leaders in the room.

randall-payne.co.uk 11

TIM’S VIEW

Tim Watkins | Managing Partner

It’s good to talk We have just had the first Labour budget in 15 years and there was much speculation in the lead up to it, some of it spot on and a fair bit a long way wide of the mark.

The Budget did though herald change a plenty, some of it immediate and some of it still to arrive. I couldn’t make our Budget Day event at Kingsholm unfortunately but from all I have heard it went well with plenty of interaction so thank you to all those that came along whether that be our guests, our joint presenters, Rathbones, or our own teams. Being together to experience this and having that immediate communication with others is invaluable.

We have communicated the major changes the Chancellor brought in on the previous pages. There was more change than we have had recently and whilst we can explain them, I appreciate this is not necessarily covering everyone’s personal circumstances. We are all different and have our own set of circumstances and different elements of the new rules will apply.

Shaun has written his first “Welcome” in this issue and you will see from his

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words that he likes to get out and meet his clients. This is something that is important to all of us here and we feel is equally important to our clients. As we get to grips with the content from the Budget we will be speaking with as many of you as we can to outline the effects because some of them this time will be significant. Nikki has already put together the changes to Agricultural Property Relief for Inheritance Tax which I am sure will be on the minds of our farming clients.

Later in this edition Will talks about unlocking the ideas we all have to make our businesses grow and succeed.

Again, this all comes down to communication and Will is excellent at getting people to talk and explain their ambitions and then to help people move towards achieving those ambitions.

This is done most effectively person to person and reinforces Shaun’s words about meeting people.

Whilst any form of communication is valuable, we get most from sitting and talking and letting the conversation flow.

For us it means we can better understand what our clients want and means we get to learn the individual circumstances that provide the drive to them to make the changes they want to meet their ambitions.

Communication is also key internally, whether its business strategy, working together on a client’s needs or our staff wellbeing. Staff are the biggest asset of any business which is why engagement and consultation is so important.

Many years ago, there was an advert for a certain communications company that said, “It’s good to talk”. It certainly is!

Contact Tim Watkins for more information by emailing tim.watkins@randall-payne.co.uk or call 01242 776000.

AUDIT

Learning as part of a successful team

Ryan Moore | Partner

Freddie shares his story University and further education is one way to reach someone’s desired career as an Accountant, but that is not for everyone, so the option of an apprenticeship was perfect for Freddie.

We are always on the look out to find engaging, positive and proactive individuals to join the Audit team.

We are very fortunate that we have dynamic trainees who share our passion for learning and auditing.

I am pleased to introduce Freddie Cooper, our newest trainee. Freddie started working in the Audit team as a apprentice in August last year, just after he finished school and shares his experience of his first year as a trainee.

Contact careers for more information by emailing careers@randall-payne.co.uk or call 01242 776000.

Freddie Cooper Trainee Audit & Assurance Accountant “When I first started, I didn’t have any experience in accountancy or working in an accountancy firm, but throughout my year at Randall & Payne, with the support of Ryan, Ben and the other members of the team, I have developed my knowledge and skills, and I have been fully integrated into the team and the whole firm.

Over the year, I have learnt many things.

These include how to complete different types of audit tests (such as bank testing, expenditure testing and minutes review), how to use Caseware to prepare the accounts and how to effectively communicate with clients.

I have had the opportunity to work with multiple different clients, whether it’s an academy, charity or a corporate firm.

I have also had the opportunity to go on multiple client visits and experienced what it was like to work onsite. Throughout all of this, the whole team has been there to support me whenever I’ve had any issues, which in turn has helped me improve each time I do a specific job.

The team has also been very supportive with my study, and they always make sure to congratulate me on any exam success I have. As I developed my skills, I have been trusted with taking a more leading role in certain jobs, such as independent examinations and grant claims.

Overall, I have really enjoyed my time so far. The experience I have gained over the past 12 months has been invaluable to me and I have also created strong relationships with many people here.

I haven’t only developed as a member of the team and a member of the firm, but also as a person, and I believe that I will continue to develop over the coming years.” randall-payne.co.uk 13

ACCOUNTING

Shaun Pegler | Partner

Helping to achieve a client’s long term vision Kim was looking for a new accountant who could help her to grow her business and make her dream of building her forever home become a reality.

I received the enquiry through our website and set up an initial meeting with Kim and her husband, Angus, who own The Wildings Campsite near Bourtonon-the-Water. They planned to use a plot of land on the family farmland to create a small, friendly campsite in 2019 which was part of a longer-term plan to build their dream house.

At the point that we were engaged to help achieve growth for the business they had already established their campsite which had been running successfully for a couple of years. Their vision for the campsite was to establish a welcoming, comfortable and nature filled campsite to give their visitors peace and relaxation.

Explaining clearly, whilst helping Kim to better understand the numbers gave them the confidence to grow having total financial clarity. At the time, there were many challenges to navigate including the numerous Covid restrictions on top of starting up a new business – and with a young family in the mix!

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As the campsite continued to grow and they started to take on employees, I introduced the larger Randall & Payne team as they had requirements for additional services in areas such as payroll and VAT. In time, we organised payroll and Xero training for the Wildings team so they could do the payroll and VAT returns themselves saving them some money. This would in turn allow us to help in more specialist areas as the business grew further.

Our Accounting Services team take care of the year-end accounts and our Tax team do the personal tax returns. These are completed quickly and efficiently, which is much appreciated by Kim and Angus who are able to plan their tax exposure, setting their minds at ease and reducing their stress levels.

Angus’ personal tax affairs and their other business’s accounts soon followed which means everything is in one place and they can understand the bigger picture more easily, connected to the ultimate goal of building their forever home.

Our team are always on hand with friendly, helpful and knowledgeable advice and take the time to find out what the client is trying to achieve.

We do everything we can to help them accomplish their goals.

I always like to meet my clients faceto-face on their premises to better understand their business. My colleagues and I update Kim and Angus regarding any relevant changes in legislation and advise on how best to navigate them for the best outcome, as well as discussing any new ideas they have for additional revenue streams and any implications these may have.

Kim and Angus are on their journey to raise enough capital to build their forever home and they know they are supported every step of the way.

Contact Shaun for more information by emailing shaun.pegler@randall-payne.co.uk or call 01242 776000.

accounting

Our accounting services team Nikki Cairns | Partner

help find the hidden cash

When you find cash you weren’t expecting, whether it’s a stray tenner left in a jacket pocket, or a few quid down the back of the sofa, it’s a win, right?

Imagine how a hardworking business owner would feel when their accountant finds a considerable sum of unclaimed cash which they are entitled to from their business.

When we meet a new prospect, as part of the initial conversation, we ask if they are making the most of the taxable benefits and allowances which can release cash they are entitled to. We do a thorough review ensuring their business is structured effectively and is strategically robust. We also look at personal tax as well as for the business and ask if they are protecting your wealth in the most efficient manner.

Not knowing how the numbers can be used to make a business work better is possibly the easiest thing to set right and realise where efficiencies can be made and tax relief applied. There are many ethical ways to release cash that can be reinvested in your business or improve your personal finances.

Alongside Shaun, I oversee the Accounting Services team and we identify areas to improve the financial health for our clients.

We are bewildered when talking with

new prospects who have missed out on potential opportunities.

Examples of missed opportunities: � Not being told about alphabet shares, so they were able to restructure the shares to improve the remuneration structure, get more cash out of the business and pay less tax. � Claiming annual employment allowance which wasn’t being claimed, going back two, three or four years, meaning in some cases thousands of pounds being refunded. � Changing how a business invoices on sales of product, maintaining cashflow for as long as possible and ensuring on the correct VAT scheme. � Being unaware the business could make pension contributions to get tax relief.

There are so many areas which may have been in place for years, such as checking you are on the correct remuneration package or that the structure/shareholding of the business is appropriate.

Quite often we find that the absence of appropriate reports resulted in errors,

leading to the wrong decisions being made as a result. Our team can help to get clients set up on, or transfer to, a software package, such as Xero, to bring your numbers to life.

With the challenging times businesses are currently going through, whether connected to the cost-of-living crisis or energy costs, businesses are understanding the need to be agile, so they are able to adapt quickly to changes in their marketplace.

Our mantra is “We make your success our priority” so it’s important for us to understand right from the beginning what success looks like and whether a business needs help to bring their vision to life. To achieve this, we involve the relevant expert when required, whether it’s from our Business Advisory and Corporate finance team to help with their strategy and plans, or the Tax team to help with the structure of the business if it’s not set up in a tax efficient way.

Contact Nikki Cairns for more information by emailing nikki.cairns@randall-payne.co.uk or call 01242 776000. randall-payne.co.uk 15

CORPORATE FINANCE

bespoke Cleaning Services Ltd acquired by Atlas FM Group Ltd Ollie Newbold | Partner

A well planned and orderly sale process allowed bespoke’s shareholders Jackie Woodall and Anna Symes to exit the business in just five months, safe in knowledge that they were ‘passing the baton’ to a like-minded buyer with strong values at heart.

The team at Randall & Payne had enjoyed a successful working relationship with bespoke Cleaning Services since 2013. Throughout the entire engagement period we had prepared quarterly management accounts and met on a quarterly basis to dig into the numbers and establish short-, medium- and long-term strategy.

We truly felt invested in the journey that the business was taking and built the appropriate service offering which met with their growing needs over the period.

Jackie, Anna, and Jackie’s husband Mark, had all previously worked with national facilities management companies and were confident they were able to provide a more client-centric service model.

In light of this, they formed bespoke Cleaning Services in 2002, which grew to a £10m turnover company prior to sale. Since its inception, the company has enjoyed an enviable reputation and has established itself nationally as a leading provider of cleaning services 16

– Winter 2025

into the education and daily office cleaning sector.

In 2023 Jackie and Anna commenced discussions with us to understand how exiting the business could best be achieved and the steps within the process. We were able to run through the phases in our tried and tested sale mandate approach, which provided Jackie and Anna the comfort they needed to embark on this critical next step in their business journey.

We carefully selected potential acquirers of the business and carried out a robust follow up process, leading to the release of a high-quality Information Memorandum to carefully vetted parties.

The Information Memorandum aimed to capture the culture and ethos of the company, along with its strengths in resources and operations. The purpose of the Information Memorandum was to provide the buyer with all the necessary details that allow them to make a considered preliminary offer.

We recognise that a business sale can sometimes feel overwhelming. Explaining the process in detail from start to finish allows the client to rationalise the process and through our knowledge and experience we make the process as streamlined and efficient as possible.

CORPORATE FINANCE

From initial conversations all the way through to completion, we work in collaboration with all parties to ensure you can exit your business safe in the knowledge that the success of our client is our top priority.

The pre transaction preparation allowed our Corporate Finance team and Higgs LLP lawyers to maintain a streamlined sale process. The team used all-party catch-up calls on a weekly basis to maintain momentum through to completion. This was aided by exceptional C-suite level buyer engagement from Atlas FM Group Limited which ensured swift decision making and pragmatism.

The Atlas FM Group, the fastest growing privately-owned support services business in the UK, focuses on business growth coupled with the desire to maintain a culture of family, with staff being ‘the beating heart’ of the company. This business culture, which was so evident to Jackie and Anna from their first face to face interaction, provided the reassurance they needed that Atlas would support bespoke on the next steps in its journey.

At Randall & Payne, we recognise that a business sale can sometimes feel overwhelming. Explaining the process in detail from start to finish allows the client to rationalise the process and through our knowledge and experience we make the process as streamlined and efficient as possible.

“It was difficult to decide when the time was right for us to find a new buyer for the company. After so many years it was like handing our baby over to someone else. Reaching the decision to sell, we found the process with R&P structured from day one and they gathered all of the required information that would make us a viable company to be purchased. At no time did we feel stressed during the process as we understood everything that was happening. The whole process took just 5 months, with only 2 months from the initial meeting with Atlas through to completion. When this timeline was first discussed we did not think it was possible to achieve this. With R&P taking the lead and us providing all of the relevant information for the data room we reached the milestone date of the sale. Thank you to R&P for making this process truly painless. We have now merged with Atlas and it was the right decision for the directors and for bespoke. I can see a truly wonderful future for bespoke and its many staff members.”

Jackie Director, bespoke Cleaning Services Ltd

Contact Ollie or Hari for more information by emailing oliver. newbold@randall-payne.co.uk or hari.pillai@randall-payne.co.uk call 01242 776000. randall-payne.co.uk 17

BUSINESS ADVISORY

Will Abbott | Partner

You have the secret We have the key You have the idea of how you want your business to grow and succeed, but how do you unlock these “secret” ideas and make the most of the opportunities.

I am writing this in advance of the Budget but I think it is safe to say that Rachel Reeves will have confirmed some Halloween scares for businesses and their owners. There were very few secrets about what was planned, we just need confirmation of the extent of the pain.

We should, of course, focus on the things we can control and Labour Government tax policy is probably not one of those.

Focusing on what we can control is a Mindset issue and one of the three areas our business advisory works on. Along with Mindset (Want to change) we need a Toolset (What to change) and a Skillset (How to change).

So, we come back to the secrets and the hidden potential in your business: the opportunities to improve things and move more quickly towards your goals (despite Government policy!).

The key is the Toolset as that unlocks the opportunity. Implementing the changes requires the right Skillset and Mindset.

We are often working with clients on all three areas.

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One of the challenges that we all face in business is “noise”. We are overloaded with data but lack knowledge.

Automation is driving the speed and quantity of information but what is it telling me?

Information needs to be timely, accurate and insightful. How certain are you that your data meets these three fundamental criteria?

AI may provide some of those answers, but it is yet to be a complete solution.

The real risk with automation is producing information at the touch of a button without any testing of accuracy or meaningful insight. Making the wrong decision faster is not the answer!

Our work with many businesses over many years has allowed us to build a wide variety of tools to offer to clients to help them realise their potential.

This includes diagnostic assessments on our website that are freely available to you and your teams, provides fundamental assessments of your business. These provide processes and

The key is the Toolset as that unlocks the opportunity. Implementing the changes requires the right Skillset and Mindset. key issues. The value in completing the assessments to understand what to tackle first and how to go about fixing it is obvious.

We can add an analysis of teams (Team Performance Scan) and Individuals’ behaviour and relationships (Everything DiSC ©), which are two of the most powerful tools in the set, as they explore the most common and most impactful issue: people. These are much more than just diagnostics.

They are designed as learning tools to generate dialogue, knowledge and increase understanding and trust when

BUSINESS ADVISORY

used appropriately. Successful use of these tools does require an experienced facilitator so for more information please contact us.

What is the value?

One key part of the value that may be overlooked in using any of these tools, is the dialogue that is generated between participants.

This can really bring issues to the surface and then identify actions needed to remedy. It does need a skilled facilitator in the room to ensure positive and constructive outcomes. This provides internal communication and ideas and builds team buy in and trust that is essential for successful implementation.

Where is the external perspective coming from?

This is where our quarterly Business Bootcamp comes into play: a group of business peers coming together to gather some of the latest global leadership ideas, learn from and share problems and progress with each other and commit to clear actions in the next 90 days. Remember how you keep promising to work on your business? This is where you spend time doing just that and bringing external ideas and thoughts into your strategies (more information about Bootcamp is shared on page 20).

How does this all fit together?

The final piece of the jigsaw is the oneto-one mentoring and coaching.

This is where we can really home in on your goals, your issues and your secrets to unlock the unique solutions for your business needs.

Our experience is that you want to be constructively challenged and working with your teams and peers in a group will provide an element of that. The truth is that there is nowhere to hide in a oneto-one session and it is where you are focussed on becoming the best version of yourself. My belief is that the best and only way to grow your business is to grow yourself.

The analogy I use is the hare and hounds. You need to keep growing to keep ahead of your hounds (your teams) and we need to keep growing to keep ahead of you, our client. It is why we continue to innovate and offer unique advisory solutions to our clients.

Here are a few questions for you to reflect on to help you understand how our experience and approach may help you in your business and a suggested diagnostic assessment to inform your thinking: � How do you identify which issues to focus on now? Business Performance Assessment

� What elements are missing from your Strategies? Strategic Planning Assessment � How well do you rate as Leader?

Leadership Performance Assessment � What could you do differently to build your Team? Team Attraction and Retention Assessment � How could you add value to your business? Exit Readiness Assessment � How could you generate more sales?

Sales Performance Assessment � What are the key strengths and weaknesses in your business? Business Performance Assessment � What are the key strengths and weaknesses in your team? Team Performance Assessment or Team Performance Scan.

My belief is that the best and only way to grow your business is to grow yourself. randall-payne.co.uk 19

BUSINESS ADVISORY

Quarterly Business Bootcamps Will Abbott | Partner

Challenge thinking, share experience & deliver results The quarterly Bootcamps provide the external perspective to compliment the internal communications, to validate our ideas and share best practice.

As the marketplace brings new challenges and opportunities, it is critical that busy business leaders invest time to continually build and refine their skills and focus on the few key actions that will have the greatest impact on their business and their success.

We know from working with many businesses over many years that whilst, there will be differences, many of the problems the owners/managers face are the same. By bringing leaders together, the Bootcamp creates the opportunity to benefit from interacting with each other and sharing ideas and experiences.

It is important that the delegates define what success looks like for them and the significant people in their lives who will play a part in realising it. Releasing the hidden performance and profitability improvements in the business is often the key to achieving those personal goals.

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At every Bootcamp workshop there will be learning and insights and, using the right tool, we will focus on these five steps: 1. Now. Understanding where you are now and share insights into current performance.

2. Where. Invariably improvement in performance and profit will be identified. Whilst we will challenge you at this step, you remain in control of the targets being set.

3. Gaps. The gaps will show the greatest impact and suggest the areas of initial focus for action.

4. Action. Nothing changes unless something changes and identifying the actions that will be needed to close the gaps and prioritising them is the heart of the improvement process.

5. Monitor. A monthly accountability discussion will keep these actions on track as we assess whether the actions taken are achieving the results expected.

Reflect on the outcomes Where there is a successful outcome: Move on to the next actions and periodically loop round to Step 1 to reset and revise the plan.

Where the outcome was not as expected: Understanding what has stopped actions being implemented, learning from and addressing those challenges may well be the most important part of the process.

Every Bootcamp workshop will provide you with actionable plans to take away for your business and for you as a leader.

For information about Bootcamps, Team Performance Scan and Everything DiSC© assessments, please contact us.

Contact Will for details of our coaching and mentoring by emailing will.abbott@randall-payne.co.uk or call 01242 776000.

IN THE COMMUNITY

Volunteers and their valuable contribution to our community

We are proud to have many of our staff who give hours of their time selflessly to various causes which are close to their hearts.

We are more than proud of one of our employees who was recognised for her support and continued volunteering commitment having been awarded Highly Commended Lifetime Achievement Award in the National Crimestoppers Volunteer Awards earlier in the year.

Danny Andreassen, Chair of Gloucestershire Crimestoppers, nominated Jo Kline, who has been Secretary to the Board for over twenty years.

Danny said in his nomination “Jo has worked tirelessly to juggle her busy job, her family, her achievements within martial arts, latterly within a darts team, and all whilst continually giving the very best of herself to the Crimestoppers Committee and as a critical and vital member of our team that is underpinned

by Jo’s incredible dedication and contribution.”

Jo said “Twenty years does sound like a long time but on reflection it doesn’t seem like it at all, thanks to my fellow selfless and positive Board members.

I am fortunate to have the support of Randall & Payne too, who have allowed me the time to volunteer as well as supplying the storage space for the Crimestoppers merchandise and display equipment.”

THE CHELTENHAM TRUST CORPORATE PARTNERSHIP PROGRAMME

We are excited to support The Cheltenham Trust, an independent charity, which manages some of the most historic and iconic venues in Cheltenham.

The Cheltenham Trust manages venues such as Pittville Pump Room, Cheltenham Town Hall, The Wilson Art Gallery and Museum, Leisure at Cheltenham and the Prince of Wales stadium.

The Cheltenham Trust have launched a corporate membership programme with a range of corporate packages to suit different business needs. We are proud to have signed up as one of their first corporate members and hope that other local businesses will do the same.

“We are proud to become one of the Cheltenham Trust’s first corporate members, We value the trust’s contribution to our town, preserving Cheltenham’s heritage and supporting our community, and share in their ethos. Their wonderful and varied events are important for our community and valued by those who attend.”

Tim Watkins

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IN THE COMMUNITY

Charity update It’s been a challenging start When I say challenging I don’t mean the fundraising, I am talking about the fabulous ways that our staff have taken on new challenges in aid of Teckels Animal Sanctuaries.

Jo Kline Client Experience Officer

We are a firm where all the employees pull together in support of our corporate charities, but this first year for Teckels has shown that we are also ready to take on new challenges ourselves, no matter how out of comfort zone this may be.

Rachel Roberts swam the English Channel for Teckels Not the actual Channel, but the 21 miles as the crow flies which equated to 1352 lengths of a 25m swimming pool. This meant swimming just over 330 lengths every week!

The Randall & Payne team also supported her by contributing lengths to match the distance she swam, in effect the return swim! Her ‘support team’ included Adam, Alison, Ethan, Mel, Rob, and Ryan.

They absolutely smashed their challenge as they went well over and swam 3,182!

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A fantastic effort, and all for a good cause raising £400.

Rachel said: “I just wanted to say a huge thank you to everyone that took part and donated. It’s amazing to see the distance we all covered.’’

Darts Doubles Fundraiser We had enjoyed a couple of internal singles and doubles tournaments over the last year so decided to trial it as a fundraiser for the first time, as we had tested the format. I was delighted to have 16 teams sign up who joined us for the evening co-organised by Matt, along with some spectators too.

There was a range of skill and experience in the room, but everyone enjoyed the evening which got particularly tense towards the end. The tournament was won by one of our team, Josh and his mate Tom, with Nikki’s husband Mike and his mate Brian coming a close second!

The event raised another £395 for the charity pot.

Run Cheltenham in September saw athletes of all abilities taking part in a Half Marathon, 10K or Community Mile.

Ten colleagues and I were amongst the thousands of runners who donned their trainers and pounded the roads in and around Cheltenham raising money for charity by taking part in Run Cheltenham.

The suggestion was made at the end of 2023 when some of the more expert runners thought it would be a great way to raise funds for Teckels. Eight of us signed up for the Half Marathon and, personally I agreed to attempt the 10K along with a couple of others. I’m not a runner, having never run any distance or competitive race before, but thought it was time to stop saying I can’t, but maybe with some training I can!

We were mixed abilities, some having run before, some having never ever run, with varying levels of preparation needed beforehand, but we all agreed although not the easiest thing we have done, it was rewarding to see that finish line and know that we had completed the challenge.

IN THE COMMUNITY

Despite the challenge of the unexpected sunshine, we all achieved what we set out to, whether the Half or the 10k and raised a wonderful £1,110.

Congratulations to Rob, Will, Shaun, Ben, Andy, Ethan, Harvey and Harry for completing the Half and to Adam and Keiran who completed the 10K alongside me!

Would I do it again? I don’t think so, but as they say about childbirth, “you don’t think about the second child after just having the first”!

Fundraising activities for 2024 & 2025 for our charity partnership Our 13th annual Quiz night with WSP solicitors took place in July at King Stanley Village Hall co-hosted by Rob with quiz master Faye Hatcher, ex BBC Radio Gloucestershire presenter and producer. Faye donated a Pet Portrait commission which was particularly relevant to Teckels and won by one of the WSP team members.

Skye from Teckels spoke to the room and we were surprised to learn the £45,000 monthly cost to run the sanctuary.

The overall winning team, named Shed 7, have been attending for many years. We are always grateful to the individuals and local businesses for the generous donations to the raffle which raised £685 of the £1,050 raised for Teckels and the same amount for Young Gloucestershire.

We will continue to do the activities which work year after year and help make up the pot we raise annually.

As well as the quiz, these activities include the annual charity bake off, the monthly breakfast bap days, dress up and down days, book shop, Christmas Bazaar and a bonus ball sweepstake.

We had a staff meeting recently where we asked our staff to come up with some more new fundraising ideas as it’s a great opportunity to spice things up and get different people engaged. We are looking forward to going through some of the many ideas that have been put forward and organising some different fundraising.

TECKELS

Teckels is a small independent charity based on the Bristol Road in Whitminster, Gloucestershire. The rescue and rehoming centre cares for and rehabilitates homeless cats and dogs and finds them forever homes.

The staff have been very engaged and have brought along some of the dogs to meet us and are open to us visiting and helping at the centre.

Contact Jo Kline for more information by emailing marketing@randall-payne. co.uk or call 01242 776000. randall-payne.co.uk 23

RANDALL & PAYNE NEWS

OUR CONTINUED EFFORT TO PROTECT THE ENVIRONMENT We are proud to have achieved our second recertification of the ISO 14001 Environmental Management System.

We first achieved this back in May 2022, which made official many years of taking steps to reduce our carbon footprint and our impact on the environment. Over the years we have ticked many of the boxes but being an office-based business, it becomes more of a challenge and requires greater effort to reduce our environmental impact.

The lights throughout the office have been replaced with energy efficient lighting and as a result our electricity usage is decreasing (excluding the power required for the EV chargers). There are a few more electric vehicles in the car park including two electric vans belonging to one of our tenants, the Big Green Cleaning Company.

With clients using Xero and our secure document sharing software, remote access to the numbers is quick and easy, so we are making less car journeys to visit clients. We do however value meeting with clients face to face as it helps to cement our relationship, better understand their business and identify any new opportunities for them. We will never cut these out, and are happy for anyone to come to our offices for a coffee, because face to face is also valued by our clients.

We have shown a reduction in many of the other areas we are tracking, such as printer usage and stationery. We continue to print less due to moving to paperless working paper software several years ago which means we buy less paper, use the printers less and don’t post out as many letters, which all has a positive knock-on effect.

Our Zero to Landfill data from Printwaste shows our waste reducing over time. Our continued use of refillable glass bottles rather than plastic for example is far better for the environment. We are still recycling crisp packets, using a local group who collect and send packages to Terracycle to raise money for charity.

The next changes need to be planned over the coming years such as replacing the old windows to prevent drafts and become more energy efficient as a result. The boiler will need replacing with a new energy efficient heating system further down the line.

As a firm we are rightly proud of our achievements and will continue to do our bit. We are keen to work with likeminded partners and suppliers and have found this to be the mindset of many of our clients.

Celebrating staff success Congratulations to the following staff for their achievements:

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�

Adam Smith passed his final CTA exam

�

Joe Fowke passed his final ACA exam

RANDALL & PAYNE NEWS

CELEBRATING 145 YEARS IN BUSINESS

We invited staff and families for a gathering in the grounds to mark the firm’s 145 years in business.

Randall & Payne was founded by John Randall and George Payne in 1879 and this gave us a good excuse for a summer celebration.

We enjoyed an ‘afternoon tea’ style spread with sandwiches and delicious cakes from Beau’s Bakehouse, plus a sweet stall which went down very well with adults and kids alike! We also enjoyed garden games with a huge inflatable football darts board!

An unusual highlight for the children was an office tour led by one of our partners, Ryan.

Randall & Payne started out as a bookkeeping firm based at Rowcroft in Stroud for decades, and part of this history included a now famous member of staff. In 1931 Laurie Lee took a job as an errand boy for a short spell and went on to become the world-famous poet and author that we know today.

Our firm later moved to Rodborough Court just outside Stroud in 1965 and fast forward forty odd years to 2007 Randall & Payne had a short period of acquisition which resulted in offices in Stonehouse, Cheltenham, Gloucester and Tewkesbury. Then over a decade ago we relocated into the one open plan office in Cheltenham.

Tim has been Managing Partner for most of this time at Chargrove House and a few years ago celebrated his 40th work anniversary having started as an apprentice in 1981, with Will alongside him for 30 of those years.

Our reception team, Kaye and Mel, have been welcoming clients for an impressive 30 years too.

Many of our current partners have grown up with the firm with Rob, Ollie, Shaun and Nikki having all started as trainees. Nowadays it may be considered unusual that only two of

the eight partners, James and Ryan, joined from other firms, but explains the family feel without it being a traditional family-owned business.

Despite our firm’s long history, Randall & Payne is relevant today thanks to the partners who understand the importance of being agile, embracing change and keeping up with advances in technology across all their different specialisms and areas of expertise. It’s the most recent history which has seen the biggest shake ups for the accounting sector with the introduction of cloud accounting and the Government’s Making Tax Digital initiative.

Our strapline “We make your success our priority” applies to our wider team just as much as our clients and is evident on a day like today, taking time to celebrate this milestone with our staff and families

randall-payne.co.uk 25

GUEST ARTICLE

Tanya Buxton, Owner | Paradise Tattoo Studio

Changing lives, one tattoo at a time I have seen first-hand the impact tattoos have on people.

From decorating a scar to creating a realistic 3D areola-nipple tattoo after breast cancer surgery, tattoos can help heal a person inside and out.

My tattooing career began in 2009.

As well as creating custom tattoo designs for people I also specialise in Medical and Cosmetic tattoo services.

It was through Cosmetic and Medical tattooing that I realised just how wonderful tattooing can be for people and the many positive effects it can have on a person’s well-being.

Tattooing enables people to reclaim their bodies and transform their skin into something they love, helping to improve self-esteem and boost body confidence.

Trailblazing being the first tattooist employed by the NHS, offering areola tattoos to their patients at Kingston Hospital, I am also proud to be pioneering new relationships within the medical sector. In particular, as the first tattoo artist to work with private hospitals Nuffield Health and HCA Healthcare UK providing medical tattoos to patients within their facilities.

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In 2021, I opened Paradise Tattoo Studio in Cheltenham. Paradise is a unique and welcoming space dedicated to showcasing the empowering capabilities of tattooing and helping people feel more confident and comfortable in their skin. We are a well-respected business within the tattoo industry and medical field for our trailblazing work, and most recently gained recognition locally winning the SoGlos Innovative Business of the Year award in October 2024.

I am extremely passionate about the healing powers of tattooing and the importance of giving back to the community, which is why in 2021 I founded the Mastectomy Tattooing Alliance, a charity dedicated to supporting people in their healing journey after mastectomy surgery.

The charity provides funding, information and trusted artists for areola and mastectomy tattoos, helping to make these important tattoos more accessible

to the breast cancer, BRCA and gender-diverse communities after their mastectomy surgery.

It has been an incredible journey so far with my business and my charity, I am excited for the future and all the wonderful possibilities ahead.

Tattoo artist, Tanya Buxton, is a worldrenowned expert and educator in her field. Instagram: @tanyabuxton www.tanyabuxton.com Paradise Tattoo Studio, Cheltenham. www.paradisetattoostudios.com Mastectomy Tattooing Alliance. www.mastectomytattooingalliance.org

Key Events KEY DEADLINES NOV 24

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Corporation Tax due – period ended 31/01/24 Due for 2024/25 PAYE month 7 PAYE & Class 1 NIC payments (electronic) Accounts deadline to Companies House – periods to 28/02/24 Corporation Tax return deadline to HMRC – periods to 30/11/23

FEB 25

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DEC 24

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JAN 25

Corporation Tax due – period ended 29/02/24 Due for 2024/25 PAYE month 8 PAYE & Class 1 NIC payments (electronic) SA Tax return deadline 2023-24 – tax to be coded out Accounts deadline to Companies House – periods to 31/03/24 Corporation Tax return deadline to HMRC – periods to 31/12/23

MAR 25 Corporation Tax due – period ended 30/04/24 Due for 2024/25 PAYE month 10 PAYE & Class 1 NIC payments (electronic) Accounts deadline to Companies House – periods to 31/05/24 Corporation Tax return deadline to HMRC – periods to 29/02/24

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Business bootcamps Our peer-to-peer workshops are designed for Owner Managed Businesses and aim to challenge thinking and deliver results.

Held quarterly.

The next two bootcamps are 3 December 2024 and 4 March 2025.

Follow us on social media or visit the events page of our website in the month preceding for details of the workshop theme.

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orporation Tax due C period ended 31/03/24 Due date for 2024/25 PAYE month 9 PAYE & Class 1 NIC payments (electronic) Accounts deadline to Companies House – periods to 30/04/24 Corporation Tax return deadline to HMRC – periods to 31/01/24 SA Tax return deadline 2023-24 Due date for balance payments for 2023/24 and/or 1st payment on account for 2024/25

APR 25

Corporation Tax due – period ended 31/05/24 Due for 2024/25 PAYE month 11 PAYE & Class 1 NIC payments (electronic) Accounts deadline to Companies House – periods to 30/06/24 Corporation Tax return deadline to HMRC – periods to 31/03/24

We future proof your company and improve its value.

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orporation Tax due C period ended 30/06/24 Due date for 2024/25 PAYE month 12 PAYE & Class 1 NIC payments (electronic) Accounts deadline to Companies House – periods to 31/07/24 Corporation Tax return deadline to HMRC – periods to 30/04/24

Advice Clinic Any weekday in office hours depending on availability of the relevant expert and are completely free.

Got a tricky business question or need advice to move forward?

We can help with a wide range of issues in an hourly clinic. These are private and confidential, with no obligation, and open to anyone with a personal tax or business issue, whether a client or not.

For more information or to request a free Advice clinic call 01242 776000 or email clinics@randall-payne.co.uk.

Xero Advice Clinic Charity Events For details of upcoming charity events follow us on social media or visit the events page: www.randall-payne.co.uk/insights/events/

Following on from the success of our Xero taster workshops we are offering a free hour with a Xero expert who can navigate you through the systems, trying out the various tools so you can see for yourself if Xero would work better for you and your business.

These are completely free and open to anyone who would like to consider the benefits of using this cloud-based software.

For more information or to request a free Advice clinic call 01242 776000 or email clinics@randall-payne.co.uk.

randall-payne.co.uk 27

HMRC can target you at any time

HMRC conducted 337,000 tax enquiries last year, showing just how many UK taxpayers it suspects of underpaying tax.

From the agricultural industry to the ownership of rental property, it doesn’t matter what sector you operate in.

HMRC do not discriminate between big and small and anyone who submits a tax return can be at risk of investigation.

Call us on 01242 776 000 or visit randall-payne.co.uk to take advantage of the benefits included with our Tax Investigation Service.

Tax Investigation Service