Issue 32 | winter – SPRING 2027 randall-payne.co.uk
We make your success our priority
TM
Budget Day summary & insights
Buyer’s Lens:
What buyers look for beyond revenue and profit
ACCOUNTING SERVICES Outsourcing your Finance Director could transform your business
AUDIT EV Salary Sacrifice Schemes: Getting the accounting right
Sale success for Move PAGE 20-21
CORPORATE TAX
COMMUNITY
GUEST ARTICLE
EVENTS
HURDLES TO A SUCCESSFUL R&D CLAIM
FUNDRAISING FOR MENINGITIS NOW EXCEEDS £8000
HR REGULATIONS & BUILDING A CULTURE OF RESPECT
DECEMBER BOOTCAMP EMPLOYMENT LAW CHANGES
WELCOME
MEET OUR SENIOR TEAM Rob Case Managing Partner Specialism: Tax & VAT
Tim Watkins Rob Case | Managing Partner
Partner Specialism: Tax
Will Abbott Partner Specialism: Business Advisory
Ryan Moore
Welcome to issue 32 of In Focus. This issue is the first since losing our partner and dear friend Ollie Newbold, who joined the firm straight from school and spent more than 20 years with us. Ollie’s warmth, humour and ability to bring people together shaped our culture, and as a team we are still adjusting to his absence. As a firm, we have tried to respond as he would have wanted, looking after one another, being open about how people are feeling, and making sure support is there for anyone who needs it. Ollie’s wish would be for us to carry on and keep doing great things for our clients, our people and our community. With this in mind, we share another packed issue starting with the Autumn Budget and how announcements may impact you or your business, followed by an article about changes in R&D Tax Relief and how best to navigate a claim. Shaun talks about our role as Finance Director for some clients and the benefits this can bring for SME businesses. The success of the Move sale was due to strong financials and trusted relationships with advisers. And whether you are looking to sell 2
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your business or not, Hari’s article explains what buyers are looking for which will help to create a stronger, more resilient business for the future. Ben shares details about EV salary sacrifice schemes and considers the question about whether the employer is acting as the principal or simply as an agent for the employee and leasing provider which is key to getting the accounting right. Finally, we proudly share getting Bronze Runner-up for Employer of the Year at the Accounting Excellence Awards and November sees the first-year anniversary of our B Corp certification which means publication of our first Impact Report. If you have any queries or want to discuss how anything in this issue impacts you or your business please get in touch.
Partner Specialism: Audit
Nikki Cairns Partner Specialism: Accounts
Shaun Pegler Partner Specialism: Accounts
James Geary Partner Specialism: Corporate Tax
Ben Burch Partner 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 – 9 Budget Day summary and insights
CORPORATE TAX | 10 – 11 The main hurdles to a successful R&D claim
P4 Budget summary
ROB’s view | 12 Putting people at the heart of our future
In the Community | 13 Charity fundraising for Meningitis Now and Newcastle Hospitals Charity in memory of Ollie
ACCOUNTING SERVICES | 14 – 15 Outsourcing your Finance Director could transform your business
STRATEGIC CORPORATE FINANCE | 16 – 17 What buyers look for beyond revenue and profit
AUDIT | 18 – 19 EV Salary Sacrifice Schemes: Getting the accounting right
P16 Buyers Lens
FULL SERVICE | 20 – 21 How preparation and trusted advice helped Move achieve a successful sale
GUEST ARTICLE | 22 Building a culture of respect at work beyond the regulations by Gemma Irvine of HR People Support
EVENTS | 23 Key dates for your diary & Business Bootcamp
P20 Move sale
randall-payne.co.uk 3
AUTUMN BUDGET
Autumn Budget 2026
Rob Case | Managing Partner
Digest the detail before making decisions We look beyond the headlines, exploring the practical implications for you and your business, highlighting the changes, opportunities and where further planning may be needed. We were delighted to host our live Budget event at Kingsholm, bringing together local business and community leaders to hear the announcements, discuss the initial implications and share their reactions.
Rachel Roberts Tax Manager
Personal Taxes
The immediate feeling in the room was certainly that there was a lot to take in, with some measures likely to have a much greater impact once the detail has been fully considered.
Property income From 6 April 2027, income tax on property and savings income will rise by a further 2%, beyond the already announced 2%. The rates of income tax will increase to:
As ever, the headlines only tell part of the story and there is plenty of detail to digest, with announcements for individuals and businesses, with changes and proposals across tax, investments and the wider economy.
� Basic rate 24% � Higher rate 44%
Attention now turns to what the announcements mean in practice. Out tax team has been through the detail, picking out the key changes and highlighting the points that individuals and businesses should be aware of.
� Additional rate 49% Trading Allowance increased to £3,000 In one of the more significant simplification measures announced, the Government has confirmed that the trading allowance will increase from £1,000 to £3,000 from 6 April 2027. The Self Assessment reporting threshold for trading income will also increase to £3,000. The change is aimed at reducing administrative burdens for individuals with small self-employed or “side hustle”
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income streams, whilst also removing many taxpayers from the requirement to file Self Assessment tax returns. � The trading allowance will increase from £1,000 to £3,000. � The Self Assessment reporting threshold for trading income will also increase to £3,000. � The changes will take effect from 6 April 2027. The allowance applies to gross income rather than profits and is available as an alternative to claiming actual business expenses. As a result, individuals with trading income of up to £3,000 per year will generally no longer have to declare or pay tax on that income where they utilise the allowance and have no excess income above the threshold. The increase represents the first substantive uplift in the trading allowance since its introduction almost a decade ago. Given inflation and the growing prevalence of side-income activities, the previous £1,000 threshold had become increasingly outdated. By tripling the
NEWS FOCUS allowance to £3,000 and aligning the Self Assessment reporting threshold, the Government has delivered a meaningful simplification measure that should benefit thousands of small traders, freelancers and side-hustle earners from 2027/28 onwards. Improving Property Income Data Reporting The government plans to modernise how property income data is collected and reported to HMRC. A consultation is seeking views on how the changes should work. The aim is to help taxpayers get their tax right first time, reduce the tax gap and make tax administration more efficient. This includes rental income data from letting agents and tenancy deposit data from tenancy deposit protection schemes.
Debt Management The new measures introduce a power that enables HMRC to recover lower value tax debts from bank accounts through automated monthly instalments. This will be used to collect tax debt from those they have identified as being able to afford payment but are repeatedly failing to do so. This measure applies for both individuals and companies and will be effective from July 2029 for VAT and PAYE debts, April 2030 for Self Assessment and Simple Assessment debts, and April 2031 for Corporation Tax debts. There will be a range of safeguards to ensure deductions are affordable and customers with additional needs are identified, and doing so offers an alternative to recovering smaller debts through the courts.
The Tax Gap The tax gap is the difference between the total amount of tax that HMRC should theoretically be able to collect and the amount actually paid by taxpayers. The tax gap currently sits around £59 billion, with approximately 35% of this relating to corporation tax, 35% relating to Income Tax, National Insurance and Capital Gains Tax, 20% relating to VAT and 10% for other taxes and excise. Given the level of tax gap it is perhaps not a surprise that new measures are being introduced. More Timely Payment Currently, tax can be paid up to 22 months after the relevant income is earned. The measures introduced will require Self Assessment taxpayers to pay more of their liabilities in-year from 2029, therefore, bringing payments closer to when income is earned. From April 2029, those affected will be required to make automated payments towards their current year income tax Self Assessment tax liabilities based on a forecast of their previous liability. Where they have sufficient Pay As You Earn (PAYE) income, they can choose to make payments to HMRC through PAYE. The measure applies to Self Assessment taxpayers who meet the existing payments on account criteria, namely those with a forecast liability exceeding £1,000 and with less than 80% of their total tax liability collected at source.
Ethan Powell Senior Tax Accountant
Founders’ Relief The government is consulting on a new Founders’ Relief, aimed at rewarding individuals who have started and grown successful, innovative UK businesses. If introduced as proposed, qualifying founders could benefit from a 10% Capital Gains Tax (CGT) rate on gains of up to £10 million when selling their shares. The relief is expected to apply to qualifying disposals from 6 April 2027 and would only appear to apply to incorporated businesses. To qualify, an individual would generally need to: � Have owned at least 25% of the company when the business started trading (or began preparing to trade). � Have held their shares for at least five years. � Have been UK resident for at least five consecutive tax years before the sale. The relief is intended for larger, high-growth businesses rather than the average owner-managed company. To qualify, the company would need to: � Have a substantial UK presence and be within the UK Corporation Tax regime.
� Be actively carrying on a qualifying trade. � Have annual turnover of at least £10 million. � Employ at least 15 full-time employees. The company would also need to satisfy at least two of the following three tests: 1. Turnover growth: Average annual growth of at least 25% over a threeyear period. 2. Employee growth: Average annual growth of at least 25% in employee numbers over a three-year period. 3. Innovation: At least £1.5 million of qualifying R&D expenditure that has benefited from R&D tax relief. The proposed rules are considerably more restrictive than Business Asset Disposal Relief (BADR). While BADR remains available for many ownermanaged businesses, Founders’ Relief is targeted at companies that can demonstrate significant scale, growth and innovation. BADR currently allows qualifying business owners to pay CGT at 18% on lifetime gains of up to £1 million but the government has announced this will reduce to £500,000 from April 2027. This also helps to explain why the new relief may be particularly valuable for founders of high-growth businesses, despite its more restrictive qualifying conditions. The proposed relief could provide a valuable tax saving for founders of successful scale-up businesses. However, given the relatively high thresholds for turnover, employee numbers and growth, it is likely to be relevant to a much narrower group of business owners than BADR. For most owner-managed businesses, BADR is still likely to be the more relevant relief when planning an eventual exit. Those hoping to benefit from Founders’ Relief will potentially need to invest in a three year “readiness for sale” programme to work to make sure the growth tests can be met. The consultation is ongoing and the final rules may change before the relief is introduced. randall-payne.co.uk 5
AUTUMN BUDGET
Adam Smith Assistant Tax Manager
Pension Tax Allowance The government has confirmed that a new Pension Tax Allowance will be introduced from the 2027/28 tax year. The measure is intended to reduce the administrative burden on pensioners who would otherwise have to pay small amounts of income tax because the full New State Pension exceeds the Personal Allowance. Why is the change being introduced? In recent years, increases to the New State Pension have meant that some pensioners have found themselves with a modest income tax liability, even where their only significant source of income is their pension. The new Pension Tax Allowance is designed to prevent pensioners, whose income does not exceed the value of the full New State Pension, having to deal with paying small amounts of tax through HMRC’s Simple Assessment process. How will the allowance work? The value of the allowance will be based on the difference between the Personal Allowance and the full New State Pension. In effect, it will provide a tax reduction 6
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that offsets the income tax which would otherwise arise on that excess amount. For pensioners whose total income is no greater than the full New State Pension, the allowance should eliminate any income tax liability arising solely because the State Pension exceeds the Personal Allowance. What if total income is higher? The relief is targeted at those with lower levels of income and will be withdrawn for individuals whose total income exceeds the value of the full New State Pension. The allowance will reduce by £1 for every £3 of income above the full New State Pension amount. As income increases, the benefit of the allowance will therefore gradually be tapered away until it is fully withdrawn.
Alice Prout Client Manager
First Time Buyer ISA As part of ongoing reforms to ISAs, the Government is set to launch a new First Time Buyer ISA (FTB ISA) from April 2029. This will be offered in place of the existing Lifetime ISA, with any LISAs opened until April 2029 being able to continue under their existing terms and conditions.
Key terms of the FTB ISA: � Contributions are limited to £4,000 a year and this will contribute towards the £20,000 ISA allowance. � The Government will provide a 25% bonus, up to a maximum of £20,000, calculated at the point the account is closed, and funds are withdrawn for the purchase of an eligible property. � The 25% bonus is calculated based on the account balance, rather than the total amount paid into the account, so will consider any interest earned on the account. � This is a key difference to the LISA, where the 25% Government bonus is capped at £1,000 per year, so individuals saving the maximum £4,000 annually do not benefit from the bonus on any interest earned. � The property price cap will remain at £450,000 and will also include those who decide to move their funds over from an existing Help to Buy ISA. Any individuals who still have a Help to Buy ISA will be able to transfer their full account balance into the FTB ISA outside of the annual limit, if the transfer is made between 6 April 2029 and 1 December 2030 (the scheduled HTB ISA closure date). Individuals will not be able to transfer an existing LISA into a FTB ISA, but both products can be used towards the same house purchase.
NEWS FOCUS Transfers from any other ISAs (Cash, Stock & Shares or Innovative Finance) will be capped at the £4,000 limit.
have had a loss-making period and perhaps is looking to demerge as part of a corporate recovery exercise.
Lifetime ISA changes: In some areas of the UK, first time buyers may need to purchase a property which is above the £450,000 cap. In these instances, from 29 October 2026 the Government will allow LISA funds to be withdrawn for these purchases with a reduced withdrawal charge of 20% (compared to the current 25% charge).
� Company Purchase of Own Shares – these rules are, overall, being made more accessible. The rules to enable these transactions to be taxed as Capital Gains rather than Income are complex and stringent, so overall this reform is a positive one.
James Geary Partner
Business Taxes Distributions framework The government have been consulting over the summer on proposed amendments to rules around certain types of distribution, which could have a significant impact on the way family business successions and restructures are carried out. As expected, a response document was released on 28 October which, in summary, states that HMRC will go ahead with their proposed changes, but these will only be effective from April 2028 at the earliest. They will consult extensively throughout 2027. The key points they have been looking at include the following: � Reductions of capital – so that when share capital is reduced, any excess over original price paid cannot obtain Capital Gains Tax treatment. This has a major impact on demerger transactions and is likely to mean that the capital reduction route (which is currently the most common) are likely to be no longer viable. � Statutory demergers – they are looking to make this form of demerger more accessible to enable a viable alternative to the capital reduction route. This is positive, although a common sticking point is that a company carrying out a statutory demerger needs to have accumulated distributable profits to enable assets or a trade to be demerged out. This is a problem where a company may
This is good news for current restructuring projects as at least we now know any changes are at least 17 months away, giving time to plan effectively. Reporting company payments to participators Following a period of consultation, the government has had a strong response that the measures would cause a huge administrative requirement for small businesses. They have announced that they will not proceed with these requirements at this time. Capital Allowances There are two changes here: � Increase of the First-Year Allowance (FYA) from 40% to 50% for equipment purchases from 1 January 2027 onwards, and � Decrease of the Writing Down Allowance (WDA) for the main pool from 14% to 12% from April 2027. The new FYA was introduced in the 2025 Budget and is available for equipment additions (other than cars) over and above the current £1 million Annual Investment Allowance. For most small businesses, this is not relevant as capital spend is likely to be within the AIA limit, but the attraction of this new FYA is that (unlike other previous first year allowances or full expensing) it can be used on assets which are to be leased out. The WDA reduction is also unlikely to affect most small businesses as most capital spend will have had full relief up front under AIA – however businesses buying cars (which are not eligible for AIA or FYAs) will be impacted by this. EMI Share Option Schemes There was a reference in the speech to “EMI2” which was very misleading and
created an impression that the EMI rules were being improved and limits doubled. However, the detail has shown that EMI is not changing, but the Company Share Option Plan (CSOP), which is available to companies of any size, is being renamed (rather confusingly) as EMI2. For most owner managed businesses, EMI share options are the typical route, so these changes will mean little. However, as companies grow beyond the size limits for EMI, they may seek to access EMI2 to incentivise key staff, and the measures announced today remove the link between the two. This appears to be good news, because previously when considering the maximum value of options for an individual under one scheme, it was necessary to consider any options under the other. There is also a measure to simplify the granting of options under EMI (EMI1, that is!) which we already knew about – from 6 April 2027 the requirement to do a specific notification of option grants to HMRC is being removed. Modernising Corporation Tax Administration Whilst the call for evidence looks forward, HMRC has also published its response to the consultation on standardising company tax returns. The project seeks to introduce prescribed formats and XBRL tagging requirements for Corporation Tax computations, improving the consistency and quality of information submitted with CT600 returns. The response confirms general support for the overall objectives, although concerns were raised around implementation timescales and the practical impact on taxpayers, agents and software developers. HMRC remains committed to the project, meaning companies and their agents should expect continued movement towards more structured, software-driven Corporation Tax compliance over the coming years. A recurring theme from both announcements is that HMRC wants better quality data, greater standardisation and are leaning towards the increased use of technology.
randall-payne.co.uk 7
AUTUMN BUDGET
Joe Lock Assistant Corporate Tax Manager
R&D Tax Relief The chancellor’s speech was quiet around R&D tax relief, which may come as welcome news to claimants and advisors. The regime has undergone substantial change over the last few years, including the transition to the merged scheme and introduction of administrative measures such as the Additional Information and Claim Notification forms (AIF and CNF respectively). The documents published after the speech gave some information around the administrative steps around making a claim and how HMRC are planning to simplify things, as well as highlighting HMRC’s commitment to reviewing the R&D claims process end-to-end. The most significant development is the planned removal of the CNF, together with a broader review of the R&D claims process. The removal of the Claim Notification requirement From 1 April 2027, companies making an R&D claim will no longer need to submit a CNF before including relief in their Corporation Tax return. The CNF was introduced in 2023 as part of HMRC’s response to concerns around error and fraud within the R&D tax relief regime. Alongside the Additional Information Form (AIF) and increased compliance activity, it was designed to improve the quality of claims reaching HMRC. According to the government, the measures have reduced the level of error and fraud and as a result, the CNF requirement will be withdrawn for claims made on or after 1 April 2027. Until then, businesses and agents must continue to comply with the existing notification requirements. My R&D article on pages 10-11 provides a more thorough insight into the requirements.
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The Simplification of the Additional Information Form Whilst the AIF is here to stay, HMRC has acknowledged that the current process could be improved and is welcoming practical suggestions. From autumn 2027, HMRC intends to streamline the AIF by removing unnecessary duplication, improving questions relating to subcontracting and externally provided workers, and providing greater clarity around project descriptions and the Enhanced R&D Intensive Support (ERIS) intensity ratio. This again will be welcome news for claimants and advisers who have found that areas of the current form are clunky or unnecessarily complex. Simplification of R&D legislation The government are also seeking stakeholder views on how to simplify the R&D relief legislation itself. They have highlighted the following areas as examples of those to be addressed: 1. The ERIS intensity ratio – clarity on the definition of the total expenditure and complexity of the aggregation rules. 2. The PAYE / NIC cap – occasions where the exemption from this cap, which is intended to support smaller, growing businesses, may not always apply. 3. Going concern requirement – occasions where a company can lose this status for technical reasons where a viable trade still exists. Following several years of HMRC focus on error and fraud, their tone now appears to be shifting towards improving the experience for existing claimants as well as a renewed emphasis on encouraging new claims to be made.
Rob Case Managing Partner
Modernising VAT There were no major changes to headline VAT rates, but the Budget reinforces the Government’s direction of travel towards a more digital and automated tax system.
The biggest long-term change is mandatory e-invoicing from April 2029, when VAT invoices will need to be issued in a prescribed electronic format. Also from April 2029, businesses will be required to have a Direct Debit instruction in place for VAT liabilities. Businesses will still be able to make payment by bank transfer or another method before a specified cut-off date, but where an amount remains unpaid, HMRC will automatically collect it by Direct Debit. This potentially significant change should reduce late payments, while making cash-flow management and ensuring sufficient funds are available increasingly important. Other measures include new VAT responsibilities for online marketplaces from October 2027, with platforms required to collect VAT on certain sales made by UK businesses. The crossborder services rules will also change from April 2027, so overseas suppliers providing services to UK businesses that are not VAT registered will generally need to charge UK VAT rather than relying on the reverse charge. There are also some small more targeted measures. Public EV charging will be confirmed as subject to 20% VAT, while the VAT relief for qualifying energysaving materials will return from 0% to 5% from April 2027. To help ease pressure on household energy costs, the temporary 0% VAT rate on domestic electricity will be extended until 30 June 2027, three months longer than originally planned. Overall, the message is less about changing VAT rates and more about modernising how VAT is reported, administered and collected.
To discuss your situation in more detail contact your usual advisor on 01242 776000, or email info@randall-payne.co.uk and we would be happy to chat this through with you. If you would like to be invited to future events please email marketing@ randall-payne.co.uk.
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 9
CORPORATE TAX
Claiming R&D Tax Relief
The main hurdles to a successful claim The changes made and lessons learned from enquiry activity have created an updated set of hurdles for companies to consider before making a claim.
Joe Lock Assistant Corporate Tax Manager After a few turbulent years of a changing R&D scheme along with a high-volume compliance approach being taken by HMRC, the R&D tax credits landscape feels like it is settling down. These are the hurdles which need to be considered by companies before making a claim:
Claim Notification: What period of time are we looking at? HMRC’s Claim Notification rules came in for accounting periods beginning on or after 1 April 2023 and have been tripping up potential claimants ever since. The Claim Notification Form (CNF) and which accounting period(s) a company can claim for is the first aspect to think about when looking at a potential claim. The CNF is particularly relevant for firsttime claimants or companies that have not claimed for a while and needs to be filed within six months of the end of the accounting period in question. If that 10
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deadline has already passed without a CNF being filed, then the company cannot claim for that period. Companies who have filed a valid claim in the previous three years can be exempt from the CNF requirement, but things can get complicated around what counts as a “valid” claim. If in doubt, filing a CNF on a protective basis is usually the way to go. For more information about HMRC’s R&D Claim Notification including requirements, deadlines and exemptions, visit randall-payne.co.uk and enter ‘claim notification’ into the search box.
A common issue is a company looking at the baseline in knowledge and capability for themselves internally, rather than comparing against a baseline for the wider industry.
Competent Professional: What is a competent professional and does the company have one? Every R&D claim needs input from someone who understands the science or technology behind the project. HMRC’s first question on the Additional Information Form (a form that must accompany every claim) is “What is the field of science or technology”, and it is key that a competent professional in that field can be relied upon during the claim-building process. A competent professional is someone suitably qualified or experienced in the field and HMRC give the following examples of “good evidence” that someone can be considered a competent professional: � high level qualifications in the field, alongside continuous professional development � a significant number of years experience working at a high level in the field � a good scientific publication record in the field
CORPORATE TAX � industry awards � other public recognition for contributions to the field
Baseline: Do we have a genuine advance against the field as a whole? For a project to qualify for R&D, it must seek an advance in science or technology against an existing baseline. A common issue is a company looking at the baseline in knowledge and capability for themselves internally, rather than comparing against a baseline for the wider industry. A strong claim should outline the position and give specific examples where possible. What existing knowledge or capability was already out there, and why could a competent professional not readily work out the answer?
Technological Uncertainty: Is complexity enough? HMRC are clear that a project being complex alone does not mean that sufficient technological uncertainty was encountered to make it qualifying. Many projects are difficult, expensive or commercially risky, but that does not automatically make them qualifying R&D. For genuine technological uncertainty, it needs to be unclear how to achieve the desired outcome using available knowledge or standard approaches. Claimants again will need to lean on the opinion of their competent professional and ask the question of whether each uncertainty was readily deducible or whether there was genuine technological uncertainty.
Costs: Have we incurred enough to make a claim worthwhile? Even where a project meets the technical criteria, the claim still needs to be commercially worthwhile to go ahead with. We need to identify which costs are directly connected to qualifying R&D activity and think about bringing in
The cost of preparing the claim also needs to be considered, particularly the time required from competent professionals within the business to provide the technical detail required for the Additional Information Form.
apportionments where needed. The cost of preparing the claim also needs to be considered, particularly the time required from competent professionals within the business to provide the technical detail required for the Additional Information Form. Tripping points we see often are where overseas personnel costs makes up a large bulk of the claim (often no longer qualifying under the merged scheme) and R&D-heavy directors who are paid mainly through dividends which do not count as qualifying R&D expenditure.
Subcontracted R&D: Is the claim ours to make? The aim of the subcontracted R&D rules is to prevent multiple parties claiming for the same R&D. The changes made under the merged scheme are to ensure that the company who bears the risk of the R&D activity is the one who claims. Historically, it was often possible for multiple parties to believe they had a claim into the same project. The company carrying out the work may view itself as undertaking innovative activity, whilst the customer funding the work may consider itself to be driving the R&D project. Under the current rules, HMRC expect there to be a much clearer answer as to which party has the entitlement to claim. The key point is to understand who made the decision that R&D was required. � For a customer to be the decisionmaker, and therefore eligible to make the claim, they would need to have a technical understanding of the field of science or technology being advanced. If the customer
has little or no understanding of the science or technology involved, and the contractor decides that R&D is required in order to meet the objectives set, then the claim is likely to belong to the contractor. � If the customer understands the advance being sought and the technological uncertainties that need to be overcome, but engages a contractor simply because they lack the personnel or resources to undertake the work themselves, then the claim is more likely to belong to the customer. HMRC are likely to look at both the contractual position of the relationship as well as what happened in practice. Despite these additional hurdles and the reduction in rates of relief over recent years, R&D tax relief remains a valuable incentive for innovative companies pushing the boundaries of science and technology. Businesses that take the time to understand the rules, gather the right evidence and assess their eligibility early in the process can still secure meaningful support for the investment they are making in innovation.
If you’re an innovator in your field, you could be missing out; we’ll make sure you benefit from the latest reliefs. Contact Joe Lock for more information by emailing joe.lock@randall-payne.co.uk or call 01242 776000.
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ROB’S VIEW
Rob Case | Managing Partner
Putting people at the heart of our future It’s been a busy and exciting period at Randall & Payne, with plenty happening as we continue to evolve as a firm and look ahead to the future. This is my first non-technical article as Managing Partner, which feels a little alien. I’ve enjoyed reading Tim’s perspective in previous issues, so I’m hoping I can find a tone and style that you enjoy reading too. Tim remains closely involved in the firm, continuing to support clients and colleagues. He was instrumental in creating our Budget Day event many years ago, which brings together around 100 senior business managers to watch and dissect the Chancellor’s speech over lunch. Such events reflect the value we place on bringing people together and helping our clients make informed decisions. Since becoming Managing Partner, I’ve been focused on building on the firm’s strengths while identifying ways we can work smarter. We’re continuing to embrace automation and technology to improve productivity, streamline processes and reduce time spent on repetitive tasks. Ultimately, this isn’t about technology for technology’s 12
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sake; it’s about freeing up our people to spend more time talking to clients, understanding their ambitions and providing the personal, proactive advice that makes a real difference. It’s also been a year since Randall & Payne became a Certified B Corp, an important milestone that reinforces our commitment to balancing commercial success with a positive impact on people and the planet. Do take a look at our annual Impact Report which is an opportunity to be transparent about our achievements and ensure our future commitments translate into meaningful action. We are proud to have received bronze recognition in the Employer of the Year (Mid-Tier Firm) category at the 2026 Accounting Excellence Awards. While the recognition celebrates our approach as an employer, its real importance goes much further: when our people feel supported, trusted and motivated, they are better placed to give clients the responsive, thoughtful service they deserve.
We will continue to put our people at the heart of everything we do. That means investing in our team, creating an environment where people can thrive and ensuring our clients feel genuinely supported and understood. Growth isn’t simply about getting bigger; it’s about becoming better. By empowering our people, embracing change and staying true to our values, we can build a stronger, more sustainable firm for the future.
Contact Rob Case for more information by emailing rob.case@randall-payne.co.uk or call 01242 776000.
IN THE COMMUNITY
Almost £8,000 raised for Meningitis Now! The past year has seen an incredible team effort, with a range of fundraising events bringing people together and raising vital funds.
Jo Kline Client Experience Officer Almost at the end of our first year fundraising for Meningitis Now and I’m pleased we are well over our target of £5,000 at the half way point! Our annual Quiz Night was another fantastic success. Thanks to everyone’s generosity and enthusiasm, we raised an amazing £2,400, which was split equally between Meningitis Now and Maggie’s in Cheltenham. A huge thank you to everyone who attended, donated and helped make the evening such a success. We’re already looking forward to next year. One of our favourite fundraisers was our very own Bake Off. The winner was Fiona’s delicious, and distinctive, G&T sponge cake! It was a great way to get everyone involved, enjoy some homemade treats and raise money at the same time.
Not forgetting the skydive, which was certainly a fundraiser to remember. Six of us took the plunge and jumped out of a plane, raising an incredible £3,500. Once again we supported the flagship event of the Five Valleys walk. Five hardy walkers took on the challenge and successfully completed it, raising over £300. Will and Kieran have recently run the Stroud Half Marathon and raised over £1,000. It’s brilliant to see the support continuing. I’d like to say a massive thank you to everyone who has donated, taken part in an event, baked a cake or supported all our fundraisers in any way. The generosity and enthusiasm shown over the year have been fantastic, and we couldn’t have done it without you.
Other charity news In memory of Ollie Newbold and to support the family in their fundraising for Newcastle Hospitals Charity, Rob and Shaun ran the Stroud Half marathon raising an amazing total of over £1400.
In Loving Memory In June 2026 our dear friend, Partner & colleague Ollie Newbold passed away. Ollie was a valued member of our firm for over 20 years and made an immeasurable contribution to clients, staff, colleagues and the wider community during his time at Randall & Payne. He will be remembered not only for his professionalism and dedication, but also for his friendship, kindness and ever-present smile, which brightened the lives of so many who knew him.
Meningitis Now does such important work supporting people affected by meningitis and to continue much needed research and development, and it’s great to know that our efforts are helping make a difference.
Contact Jo Kline for more information by emailing marketing@randall-payne. co.uk or call 01242 776000. randall-payne.co.uk 13
ACCOUNTANCY
Shaun Pegler | Partner
Why outsourcing your Finance Director could transform your business As someone who works closely with businesses that have outsourced their finance function to us, I’ve seen first-hand the value that the right financial support can bring. For many SMEs, having access to experienced financial leadership doesn’t need to mean employing a full-time Finance Director (FD). In this article, I explore how outsourcing the FD role can help businesses gain greater financial clarity, make more informed decisions and create a stronger foundation for growth.
The benefits of outsourcing a Finance Director into your business In today’s fast-paced and competitive business environment, companies, especially SMEs and startups are increasingly turning to outsourced solutions to streamline operations and enhance efficiency. One of the most impactful areas to outsource is the finance function, specifically the role of an FD. Bringing in an outsourced FD offers several strategic advantages that can drive growth, improve decisionmaking, and reduce operational costs.
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Cost-effective expertise
Flexibility and scalability
Hiring a full-time FD is often prohibitively expensive, especially for small and medium-sized businesses. Salaries, benefits, bonuses, and recruitment fees can amount to a significant financial commitment. Outsourcing this role allows businesses to access top-tier financial expertise at a fraction of the cost. Instead of paying a full-time salary, businesses can engage a finance professional on a part-time or project basis, aligning cost with need.
Outsourced FDs offer flexibility that in-house staff cannot. Whether your business needs strategic financial input during a growth phase, funding round, or turnaround situation, an outsourced FD can scale their involvement to match your requirements. This adaptability ensures you have the right level of support without long-term commitments.
Strategic financial insight An outsourced FD brings a wealth of experience and an objective, external perspective. These professionals typically work with a variety of clients and industries, giving them broad insights into financial best practices, risk management, and growth strategies. They help business owners interpret financial data, manage cash flow, develop budgets, and forecast future performance, key elements for informed decision-making.
Outsourcing this role allows businesses to access top-tier financial expertise at a fraction of the cost.
ACCOUNTANCY
I explore how outsourcing the FD role can help businesses gain greater financial clarity, make more informed decisions and create a stronger foundation for growth.
Truturn Precision Engineering
benefit from monthly strategic input Focus on core activities By outsourcing the FD role, business leaders can redirect their time and energy toward core functions such as product development, sales, and customer service. With a seasoned FD managing the financial aspects, business owners gain peace of mind knowing that critical financial tasks are in expert hands.
Improved compliance and risk management Finance regulations and tax laws are complex and constantly evolving. An outsourced FD stays up to date with compliance requirements and ensures your business adheres to relevant financial regulations, reducing the risk of costly mistakes and penalties. Their oversight can also improve internal controls and identify areas of financial vulnerability before they become major issues.
Conclusion Outsourcing an FD is a strategic move for businesses seeking high-level financial leadership without the burden of full-time costs. It provides access to expert advice, enhances financial control, and enables smarter, datadriven decisions that fuel sustainable growth.
Contact Shaun Pegler for more information by emailing shaun.pegler@randall-payne.co.uk or call 01242 776000.
As our part time FD approached retirement we quickly realised that we were not accountants. We knew we were very good at what we do but numbers were not our thing! Knowing that our existing accountants Randall & Payne offered a fractional FD service we approached them. Randall & Payne took on the Financial Controller role and Will joined our monthly Board meetings to explain and help us understand what the monthly management reports were telling us and give strategic input. Following further retirement from the senior management team, Will’s role has expanded and he now spends a day each month with us in addition to the Board meetings. The ability to flex the role to suit the circumstances of the business at any particular time is helpful. We have really valued Will’s support which goes way beyond just talking about the numbers. He helps us think strategically on a wide range of areas including process improvements, workshop productivity, investment in new machines, sales, pay reviews, cashflow planning and bank
relationships amongst others. Spending a day a month with us allows Will to really understand what we do and build closer relationships with Board members. It allows us to dig deeper into issues and develop better solutions. That makes his advice much more targeted and relevant. He is also available when critical issues arise and a quick response is needed and he speaks from a position of deep knowledge and understanding. With the world of business changing so rapidly we see this level of support from Will as a key part of our continued success and would highly recommend a conversation with Will to explore how he can help your business succeed. Becky Beacham, MD
randall-payne.co.uk 15
Strategic Corporate Finance
Buyer’s Lens
What buyers look for beyond revenue and profit A successful business can look very different through the eyes of a potential buyer. Beyond profit and growth, they are looking for confidence: a company that is resilient, transferable and ready for its next chapter. The story behind the numbers Hari Pillai Corporate Finance Manager You have spent years building a business. You know the customers, understand the rhythm of the market and can often sense a problem before the numbers reveal it. From your side of the desk, the company’s value may feel obvious: in its reputation, its team and the opportunities ahead. Then a potential buyer walks through the door. They admire what you have created, but they look at it through a different lens. Their question is not simply, “Is this a good business?” It is, “Will this remain a good business after ownership changes?” They are looking for predictability, transferability, capable leadership, manageable risk and the prospect of future returns. . 16
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The buyer’s journey usually begins with reviewing the financial performance. Is revenue growing? Is the company genuinely profitable? How effectively does profit turn into cash? Measures such as EBITDA margin, cash conversion and working-capital management help them see whether the financial engine is healthy. One strong year, however, is not enough to command a premium valuation. Buyers are also interested in the quality and predictability of revenue. Income that recurs, is contracted, or comes from loyal repeat customers gives them greater confidence about tomorrow. They will look at customer attrition and revenue visibility, asking how much of the next year is already supported by dependable demand rather than hope.
A broad and resilient customer base Imagine that a large proportion of revenue comes from one customer. The relationship may be excellent and
long-standing, yet a buyer will still see concentration risk. What happens if that customer changes supplier, reduces its spending or is itself acquired? Diversification can make the business more resilient. Buyers will explore how revenue is spread across customers and contracts, as well as the strength of those relationships. Concentration is not automatically a deal-breaker; it is a risk that must be understood and managed.
Can the business thrive without its owner? In many successful companies, the owner is the driving force. They win the work, solve operational problems, hold the technical knowledge, maintain key relationships and make the important decisions. That commitment may have created the business, but, from a buyer’s perspective, it can also create dependency. The central question is transferability. If the owner steps back, do customers remain? Can others make decisions? Is knowledge held across the organisation,
Strategic Corporate Finance or does it live in one person’s head? A business becomes easier to transfer when relationships, expertise and responsibility are shared rather than concentrated around its founder.
The team behind the business Once the buyer looks beyond the owner, attention turns to management depth. Is there a capable leadership team with clearly defined responsibilities? Can managers operate with genuine autonomy? Are the right incentives in place, and can the team think strategically as well as deliver operationally? Management depth gives a buyer confidence that performance can continue through change.
Built to grow, not just to cope A company can be successful at its current size yet struggle when demand increases. Buyers therefore look closely at operational scalability and process maturity. Are the important processes documented? Is capacity actively managed? Do technology and systems support the way people work? Are quality, delivery and performance measured consistently?
Buyers may admire the business you have created, but they look at it through a different lens. Their question is not simply, “Is this a good business?” It is, “Will this remain a good business after ownership changes?” They are looking for predictability, transferability, capable leadership, manageable risk and the prospect of future returns.
Clear processes and meaningful KPIs allow a business to grow with control.
The reason customers choose you
new products or services, reach new customers or cross-sell more effectively to existing ones?
Numbers and processes matter, but buyers also want to understand the company’s position in the market. What makes customers choose this business rather than a competitor? The answer may lie in a trusted brand, a strong reputation, specialist expertise, clear differentiation, barriers to entry or the ability to hold pricing.
This is where value becomes more than a record of past success. A buyer is investing in the next chapter, so they need to see a credible route to growth. Opportunity is most persuasive when it is supported by market demand, commercial capability and a business that has the people, processes and controls to deliver it.
Competitive advantage explains not only why the business has succeeded, but why it should continue to succeed when competitors react and markets evolve.
Seeing your business with fresh eyes
Confidence through control As the buyer’s interest in the business becomes more serious, the quality of financial information and governance comes into focus. Regular management information, reliable controls, effective budgeting and forecasting, and consistent KPI reporting all help a buyer understand what is happening inside the business. Good information builds trust and allows performance to be explained, risks to be spotted and decisions to be made with confidence.
The next chapter Finally, the buyer looks forward. Where is the strategic headroom? Is the market attractive? Is there a strong sales pipeline? Could the business launch
Buyers want sound performance, dependable revenue, a balanced customer base, low owner dependency, capable management, scalable operations, a defensible market position, reliable controls and genuine room to grow. The most valuable preparation may therefore be to pause and look at your company as a buyer would. The business you know so well may look different through the Buyer’s Lens. Learning to see that view does not just prepare the company for a future transaction. It can help create a stronger, more resilient and more valuable business today.
Contact Hari Pillai for more information by emailing hari.pillai@randall-payne.co.uk or call 01242 776000.
randall-payne.co.uk 17
AUDIT
EV Salary Sacrifice Schemes: Getting the Accounting Right Ben Burch | Partner
For finance teams and auditors, the key question concerning EV salary sacrifice schemes is whether the employer is acting as the principal or simply as an agent for the employee and leasing provider. Electric vehicle (EV) salary sacrifice schemes have become increasingly popular, offering employees a taxefficient way to drive a new electric car while helping employers attract and retain staff. However, these arrangements can present an accounting challenge, particularly as the revised lease requirements under FRS 102 come into effect for periods commencing on or after 1 January 2026.
What makes EV salary sacrifice schemes so popular?
� Access to a new electric vehicle without a large upfront payment. � Additional benefits such as insurance, servicing and maintenance. � Potential National Insurance savings for employers, alongside wider employee benefits and sustainability objectives. Although the arrangements can be commercially attractive, their accounting treatment requires careful consideration.
Under a typical scheme, an employee agrees to reduce their gross salary in exchange for access to an electric vehicle. The employer usually enters into a lease agreement with a third-party provider, while the employee uses the vehicle.
Principal or agent: why does it matter?
The schemes have grown in popularity because they can offer: � Lower costs for employees through income tax and National Insurance savings.
If the employer acts as principal, it may be the lessee under the agreement with the leasing provider and responsible for providing the vehicle to the employee
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The starting point is to understand the substance of the arrangement, rather than relying on the scheme’s description or the fact that payments are deducted from employees’ salaries.
as part of their remuneration package. Where the employer is the lessee, it will generally need to recognise a right-ofuse asset and a lease liability under the revised FRS 102 requirements, unless a recognition exemption applies. If the employer acts as agent, it may simply facilitate an arrangement between the employee and the leasing provider. Where the employer does not itself hold the relevant lease rights and obligations, it would not normally recognise the vehicle lease as its own asset and liability. The distinction is not always straightforward. The fact that the employer signs the lease or makes payments to the leasing company is important, but it does not answer every accounting question on its own. The contractual terms and the commercial substance of the arrangement must be considered together.
audit Relevant factors include: � Who is contractually responsible for the lease payments? � Who controls the use of the vehicle and determines how it is provided to the employee? � Who bears the financial risk if an employee leaves, becomes unable to pay or terminates the arrangement early? � Who is responsible for excess mileage, damage and other termination costs? � Can the employer substitute the vehicle, restrict its use or require it to be returned? � Are salary deductions simply passed to the leasing provider, or does the employer have discretion over the charges? The conclusion may be determined by a combination of the factors about, and the judgements made in reaching a conclusion should be fully documented.
The role of the FRS 102 Periodic Review 2024 The FRS 102 Periodic Review 2024 introduced a substantially revised lease accounting model for lessees. The changes apply to accounting periods beginning on or after 1 January 2026, unless adopted earlier in accordance with the transition requirements. Under the previous requirements, operating lease payments were generally charged to profit or loss over the lease term, with the lease itself usually remaining off the balance sheet. Under the revised requirements, most leases are recognised on the balance sheet through a right-of-use asset and a corresponding lease liability. Exemptions are available for qualifying short-term leases and low-value assets, although it is worth noting that EVs are highly unlikely to fall under either exemption. Before the review � Lease rentals were generally recognised as an operating expense in the year that they were incurred. � Operating lease commitments were disclosed rather than recognised as lease liabilities on the balance sheet.
� Salary sacrifice arrangements were sometimes treated as payment arrangements, with no lease recognised by the employer. After the review � Employers acting as lessees will generally recognise right-of-use assets and lease liabilities. � Depreciation and interest replace the previous straight-line operating lease expense for recognised leases. � Additional disclosures are required, including information about lease assets, liabilities, expenses and cash flows. The principal or agent assessment remains important in determining whether the employer has a lease to recognise on the balance sheet. It is vital for finance teams to collate all relevant information to make this judgement.
What information is needed? To reach and support the appropriate accounting conclusion, finance teams should obtain the following information: � Master lease agreement: Establish who the contracting parties are, who holds the rights to use the vehicle and who is responsible for payments and other obligations. � Employee salary sacrifice agreement: Understand the employee’s rights, salary deductions, responsibilities and the consequences of leaving employment. � Provider and employee terms: Identify whether the employee has a direct contractual relationship with the leasing provider. � Risk allocation: Determine who bears early termination costs, excess mileage charges, damage costs and other financial risks. � Vehicle arrangements: Understand who selects the vehicle, controls its use, can require its return and is responsible for its ongoing provision. � Lease data: Obtain commencement dates, lease terms, payment schedules, extension or termination options, discount rates and any relevant service or maintenance components.
The principal or agent assessment remains important in determining whether the employer has a lease to recognise on the balance sheet. It is vital for finance teams to collate all relevant information to make this judgement.
� Disclosure information: Gather the information needed to calculate lease balances, depreciation, interest, cash outflows and lease maturity disclosures where recognition is required. Schemes may differ between providers and thus it is necessary to review each scheme that a business is exposed to individually.
Summary and tips for employers EV salary sacrifice schemes can offer real benefits to employers and employees, but their accounting treatment can be tricky. The revised FRS 102 lease requirements make it particularly important to establish the employer’s role and identify the rights and obligations created by each agreement. Starting the assessment before a company’s reporting date will help businesses prepare for the revised reporting requirements, avoid unexpected balance sheet adjustments and ensure that their financial statements provide clear and appropriate disclosures.
Contact Ben Burch for more information by emailing ben.burch@randall-payne.co.uk or call 01242 776000.
randall-payne.co.uk 19
FULL SERVICE
How preparation and trusted advice helped Move achieve a successful sale Selling a business is one of the biggest decisions an owner can make. The most successful transactions are achieved by businesses that have spent time building strong financial foundations and developing trusted relationships with advisers who understand their business.
James Cook Corporate Finance Senior Executive Having worked with Randall & Payne for almost six years, director George Tatham-Losh of Move Estate Agents, had already established a strong relationship with our team before deciding that the time was right to explore a sale. During this period, we supported Move with annual accounts preparation, regular management accounts, tax advice and wider financial support, giving us a detailed understanding of the business, its financial performance and the aspirations of its owners. Established as an independent estate agency, Move had built a strong reputation through its focus on delivering a personal service and developing lasting relationships with its clients. When George decided to consider his exit, it 20
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was important that any future owner would recognise the strengths of the business and continue to build upon the reputation and culture they had created.
Finding the right buyer The sale process did not begin without challenges. Move had initially agreed a transaction with another buyer, with completion expected at the end of January 2026. However, despite significant progress, the transaction could not proceed when the buyer was unable to secure the required finance. Rather than allowing this setback to prevent their plans from moving forward, George continued to explore opportunities and identified Dwelly as a potential buyer. Discussions progressed quickly, with Heads of Terms agreed by the end of January 2026 and the sale completing on 1 April 2026. A key priority for George was finding the right purchaser who would continue
to build on the legacy created. The successful sale to Dwelly provided the opportunity for Move to continue its journey under new ownership while achieving the outcome the directors were looking for.
Preparation made the difference We advised Move on the financial aspects of the transaction, with myself leading the day-to-day engagement alongside Rob Case, who provided advice and oversight throughout the process. Working alongside the legal team at Willans and the purchaser’s advisers, we supported Move throughout the transaction. Our longstanding relationship with Willans also helped ensure effective communication and collaboration between advisers, contributing to the smooth progression of the deal.
FULL SERVICE
Because we already understood the business and its finances, we were able to respond quickly to requests and provide clear information throughout the process.
Our support included: � Preparing and presenting financial information throughout the due diligence process. � Acting as a key financial contact for all parties involved. � Working closely with the legal advisers and purchaser’s team to address queries and maintain momentum. � Preparing the Completion Accounts following completion to finalise the transaction. Because we already understood the business and its finances, we were able to respond quickly to requests and provide clear information throughout the process. Completing a business sale in around three months from Heads of Terms requires preparation, collaboration and strong communication from everyone involved. Several factors helped make the transaction a success: � Years of accurate, up-to-date management accounts meant financial information was readily available. � Our longstanding relationship with Move meant there was no learning curve when the transaction began. � Existing relationships between advisers helped facilitate efficient communication throughout the process. � George worked collaboratively with advisers and the purchaser to achieve their objectives.
“Selling Move was one of the biggest decisions I’ve ever made and having Randall & Payne by my side throughout the process gave me complete confidence. They had worked with us for almost six years, so they understood our business inside out and were able to respond quickly to the countless financial and commercial queries that arose during the transaction. When our first sale unexpectedly fell through, it would have been easy to lose momentum. Instead, James, Rob and the wider team remained proactive, pragmatic and supportive, helping us prepare for the next opportunity. When the sale to Dwelly progressed, their knowledge of the business, attention to detail and ability to work seamlessly with our legal advisers and the purchaser’s team played a significant role in keeping the transaction on track. Their advice was always commercial, responsive and easy to understand, and they genuinely felt like an extension of our own team rather than external advisers. I wouldn’t hesitate to recommend Randall & Payne to any business
Completing a business sale in around three months from Heads of Terms requires preparation, collaboration and strong communication from everyone involved. A successful outcome built on preparation Despite the original sale falling through, this transaction demonstrates that setbacks do not have to prevent a successful outcome. With good
owner looking for trusted advisers who can support both the day-today running of a business and the complexities of a successful sale.” George Tatham-Losh Founder, Move Estate Agents
preparation, reliable financial information and experienced advisers who know the business, a sale can move quickly when the right opportunity comes along. Even if now is not the right time to sell, preparing in advance can make a significant difference when the opportunity arises. For business owners considering a future sale, investing in robust financial reporting and building trusted relationships with advisers well before a transaction begins can make all the difference when the time comes to sell.
Contact James Cook for more information by emailing james.cook@randall-payne.co.uk or call 01242 776000. randall-payne.co.uk 21
GUEST ARTICLE
Gemma Irvine | HR and Operations Director, HR People Support
Building a Culture of respect at work beyond the regulations Further to the Worker Protection Act 2023, new legislative changes are enhancing the duty on employers to demonstrate they’ve taken ALL reasonable steps to prevent sexual harassment at work. Yet 41% of businesses are still not compliant with the original duty, according to ACAS.
For employers, this is more than a policy issue: it is a significant people, culture and business risk. [Acas] Two years on, the duty is being strengthened. From 30 October 2026, employers will be required to take ALL reasonable steps to prevent sexual harassment at work, with employer liability also extending to interactions with third parties. Sexual harassment is therefore a key workplace risk that every business must actively manage. Inappropriate comments can no longer be dismissed with phrases such as, “That’s just John; he doesn’t mean anything by it.” Intent does not remove the impact, nor does it remove the employer’s responsibility to act. Employers must be able to demonstrate the steps they have taken to prevent behaviour that could constitute sexual harassment, whether it involves employees or people attending the workplace in an external capacity. 22
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This includes carrying out appropriate risk assessments, providing meaningful training and equipping managers to identify risks, set clear expectations and address behaviour that falls short. These enhanced duties sit alongside a wider programme of employment law reform under the Government’s Make Work Pay agenda. Further changes include: � unfair dismissal rights after six months’ service; � trade union reforms; and � new provisions around fire and rehire practices Looking at the changes through a broader, strategic lens, there are easy measures that must be put in place first. However, the real impact here for businesses, will be where those employers with strong cultures of trust, respect and engagement, with equipped managers, will be able to uphold expected values and behaviours, consistently across the business.
HR People Support is pleased to have been invited to deliver a Business Bootcamp session in December 2026. We’ll explore how employers can assess organisational risks, set clear expectations, build a culture of trust and respect, and recognise how easily that culture can be undermined. We are committed to helping employers navigate these evolving responsibilities, from reviewing and implementing policies to ensuring the right measures are in place to prevent sexual harassment and promote a safe, respectful workplace. If you would like support reviewing your existing policies or introducing new measures to meet your obligations. Email gemma@hrpeoplesupport.co.uk Join Gemma at the December bootcamp by contacting marketing@ randall-payne.co.uk to express your interest.
EVENTS
Key Events KEY DEADLINES NOV 26
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Corporation Tax due – period ended 31/01/26 Due for 2026/27 PAYE month 7 (postal/cheque payments) PAYE & Class 1 NIC payments (electronic)
Accounts deadline to Companies House – periods to 28/02/26 Corporation Tax return deadline to HMRC – periods to 30/11/25
FEB 27
1 19 22 28
DEC 26
1 19 22 30 31
JAN 27 Corporation Tax due – period ended 28/02/26 Due date for 2026/27 PAYE month 8 (postal/cheque payments) PAYE & Class 1 NIC payments (electronic)
SA Tax return deadline 2025-26 for collection through PAYE tax code (where eligible) Accounts deadline to Companies House – periods to 31/03/26 Corporation Tax return deadline to HMRC – periods to 31/12/25
MAR 27 Corporation Tax due – period ended 30/04/26 Due for 2026/27 PAYE month 10 (postal/cheque payments) PAYE & Class 1 NIC payments (electronic)
Accounts deadline to Companies House – periods to 31/05/26 Corporation Tax return deadline to HMRC – periods to 28/02/26
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(electronic)
Accounts deadline to Companies House – periods to 30/06/26 Corporation Tax return deadline to HMRC – periods to 31/03/26
Our Business Advisory team, led by Will Abbott, runs the Business Bootcamp each month. These peer-to-peer sessions are designed to challenge thinking, share experiences and deliver tangible results. Each session offers an external perspective to complement your internal discussions, validate ideas and share best practice.
On occasion we collaborate with other professionals as topics align and are delighted to present with Gemma Irvine of HR People Support to deliver practical, informed advice on the latest employment law changes, dispelling common myths and highlighting the key facts you need to know about recent and forthcoming legislation. The session will also explore the art of effective delegation and provide practical guidance on how to approach those difficult conversations with your employees.
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(electronic)
ccounts deadline to Companies A House – periods to 30/04/26 Corporation Tax return deadline to HMRC – periods to 31/01/26 SA Tax return deadline 2025-26 (online)
ue date for balance payments D for 2025/26 and/or 1st payment on account for 2026/27
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orporation Tax due C period ended 30/06/26 Due date for 2026/27 PAYE month 12 (postal/cheque payments) PAYE & Class 1 NIC payments (electronic)
Accounts deadline to Companies House – periods to 31/07/26 Corporation Tax return deadline to HMRC – periods to 30/04/26
AGENDA - Tuesday 1 December 2026 9-00 -9.30 am
Networking: Engage with your peers
9.30-10.30am
Difficult conversations & embedding culture: Cutting through with greater impact
10.30-11.30am
Employment legislation changes: Dispelling the hype, cutting through what is important; with particular focus on Sexual Harassment and Unfair Dismissal
11.30-12.10pm
Delegation that frees up your week: Discover the quick wins
12.10-12.30pm
People performance roundtable: Discover best practice from your peers
12.30-1.00pm
Taking your strategy to action: Top 3 insights for your day-to-day role
1.30pm
Finish with buffet lunch
The sessions are free to attend and forms part of our ongoing commitment to helping you and your business achieve success. You’re welcome to join us at any of our monthly sessions, but I’d particularly like to draw your attention to our December Business Bootcamp.
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orporation Tax due C period ended 31/03/26 Due date for 2026/27 PAYE month 9 (postal/cheque payments) P AYE & Class 1 NIC payments
APR 27
Corporation Tax due – period ended 31/05/26 Due for 2026/27 PAYE month 11 (postal/cheque payments) PAYE & Class 1 NIC payments
BUSINESS BOOTCAMP First Tuesday of every month
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If you are interested in finding out more, please email marketing@randall-payne.co.uk randall-payne.co.uk 23
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