Streets Chartered Accountants continues run of mergers
Preston-based Turner Accountants has merged with Lincolnshire’s Streets Chartered Accountants, seeing the establishment of Streets Turner Chartered Accountants.
This latest merger is one of more than seven that Streets Chartered Accountants have completed in 18 months and which has seen the practice grow, now with more than 27 offices and fee income over £35 million.
Mike Turner, Managing Director at Turner Accountants, said: “I am delighted and excited about the merger. The practice was founded in 1996 by myself and over the years it has grown based on our reputation and the demands of clients in and around Preston.
“As with any business we cannot stand still and to overcome the challenges we and our clients face, we needed to develop our business. We looked for some time to find a perfect partner to support us and one with which we share mutual values and we believe we have found that in Streets.
“Certainly, there is a great match, both in terms of client focus and cultural fit. The merger has also given us the opportunity to promote three, highly valued, members of the team, Henry Abell, Lynda Rainford and Catherine Clifton to directors.
“Now that Turners is part of a larger practice, we can confidently promise greater continuity of service to our clients and improved career prospects for our team.
“We also believe that our clients will benefit in that the combined firm will be able to offer a wider range of services including areas of specialist corporate and private client tax planning, banking and finance, international advice, personal financial planning and even a virtual finance office whilst still retaining those personal relationships.
“As a result of the merger, we are also now able to undertake statutory audits for larger clients, as well as businesses and organisations across Preston.”
Streets Chartered Accountants’ Managing Partner, Paul Tutin, said: “In line with our strategy to become a truly UK practice we are looking at and working with a number of firms looking to become part of Streets. The merger of Turner Accountants in Preston is the latest in line with our plans to expand our geographical coverage and provides us with an ideal presence in Lancashire.
“We were delighted to enter into a conversation with Mike Turner and his team at Turner Accountants. Very early on in our discussions it was clear that we shared the same vision and values for the profession and for supporting our clients.
“We are really looking forward to working with Mike, Henry, Catherine and Lynda to grow the practice and to further establish it as a pre-eminent accountancy, business and tax advisory firm servicing the needs of businesses and individuals across Lancashire and the North West.
“Looking ahead with a number of further mergers and acquisitions in the pipeline which include a number of practices across the UK, we are on track to achieve our target revenue of £40m by the end of the year.
“The profession is going through significant consolidation with heightened levels of merger and acquisition. In contrast to many our approach seeks to build on the success of merging firms, ensuring we retain and build on their winning approach. An approach we believe is particularly liked by many of those looking to exit routes, the challenge of growing their practice or facing increased competition and the need to widen their service offering.”
Streets Law, Streets Chartered Accountants’ dedicated corporate and commercial law offering led by Managing Director and Solicitor, Adam Aisthorpe, undertook the legal work on Streets Chartered Accountants’ behalf for the merger, including drafting the sale and purchase agreement and dealing with the due diligence process in collaboration with internal colleagues in tax and audit teams.
Global HSE Group launch fire safety qualifications
Fire safety experts Global HSE Group are launching their Global Academy during Fire Door Safety Week, 23rd – 27th September 2024.
The Global Academy specialises in elevating professional knowledge in the fire safety sector. The recognised qualifications have been designed for newcomers to the fire safety sector, for those already working, and CPD for upskilling experienced professionals.
Global HSE Group has worked with the Awarding Body of the Built Environment (ABBE) to create more than just a selection of courses, but industry recognised qualifications.
- Level 3 Award in Fire Door Inspection
- Level 3 Award in Understanding, Maintaining and Repairing Fire Doors
- Level 3 Award in Understanding and Installing Fire Doors
- Level 3 Award in Understanding and Installing Passive Fire Protection
Ross O’Loughlin, Director at Global HSE Group commented, “We created Global Academy as we knew we had the skills and expertise within the business to upskill and enhance individual knowledge within the fire industry.”
For more information about Global HSE Group or Global Academy visit here
Uptick in money laundering cases reaching courts
New figures from KPMG UK’s mid-year Fraud Barometer show that money laundering has been the most common fraud type by value in the last six months.
Nine cases have been heard in UK Crown Courts collectively worth £128.2 million so far this year. With the UK regularly cited as a hub for illicit finance, it is positive that more suspected perpetrators of this crime are appearing to be prosecuted.
The research, which records alleged fraud cases with a value of £100k and above heard in UK Crown Courts, has revealed 122 fraud cases in total were heard in the first six months of the year. This is up from 105 cases during the same period in 2023.
By contrast, fraud value was just over £305 million, a 14% drop compared to the first six months of the previous year, when the total fraud value stood at £354.2 million.
Roy Waligora, Partner and Head of UK Investigations at KPMG, said: “Money laundering continues to be a problem in the UK due to the complexity and sophistication of financial systems that can be exploited for illegal activities. It will be interesting to see if the relatively new requirement for overseas entities to be registered at Companies House will result even more of these cases reaching the courts soon.”
The public sector has been the biggest victim of fraud in terms of value so far in 2024. 26 fraud cases related to the government have been heard, with a combined value of £193.4 million, an increase of 30% compared to the same period in 2023.
The general public also continues to bear the brunt of fraud, with 41 cases totalling £33.2 million being heard in the UK’s courts during the first half of 2024.
Roy Waligora observed: “Greater focus on fraud in the public sector may have contributed to more effective identification and prosecution of fraudulent activities against the government. This proactive approach to tackling fraud may also result in a higher number of similar cases being seen during the second half of the year.
“However, UK courts remain under pressure to address high volumes of fraud at a time when the UK justice system is also under pressure to tackle hard crime. The widely expected publication of guidance on what constitutes ‘reasonable procedures’ by Government will kickstart the timeline for corporates to implement improved fraud management and may make the prosecution of fraud somewhat simpler.”
When examining the most common type of fraud, account takeover fraud was the highest by volume in 2024 so far. 16 cases with a combined value of £7.2 million have reached the UK Crown Courts in the last six months. This was followed by fraud related to counterfeit, pirated, or below stated quality goods (15 cases) and embezzlement (15 cases).
Roy Waligora added: “Methods for perpetrating account takeover fraud are becoming more sophisticated, so it is promising to see that so many of these criminals are being brought to justice. However, with UK Finance reporting 121,650 cases of account takeover fraud in the whole of 2023, it’s clear that only a tiny fraction of these criminals are brought to justice.”
Tech startups win chance to develop innovative ideas with help of rail companies
Ideas as diverse as capture energy from the airflow caused by moving trains and supporting autism and ADHD sufferers with condition-specific information have won nine technology startup companies the opportunity to work alongside four train operators to support innovation in the rail industry.
Southeastern, Northern, LNER and TransPennine Express joined forces as part of Future Labs to help accelerate ideas that address common and emerging issues for the sector.
In the first scheme of its kind, the successful companies will receive unique insight and mentorship during a 12-week programme to bring their products and services to life, with the opportunity to apply, test and demonstrate their ideas in a real-world environment, with access to industry data, as well as mentors and subject matter experts.
Richard Harrison, chief financial officer of DOHL, which has responsibility for the four operators involved in Future Labs, said: “Our railways are essential in connecting people across the country and play a vital role in supporting the UK’s economy.
“Working together we can find innovative solutions to drive forward growth by making the best use of technology to improve train performance, accessibility and customer experience.”
More than 100 companies applied to be part of Future Labs, each proposing innovative solutions and products which address four categories:
- Enhancing customer experience
- Improving performance and operational excellence
- Developing people and talent
- A wildcard category
The finalists were selected by rail industry leaders following a pitch day in York.
Daniel Saunders, CEO of L Marks, which is running the Future Labs programme, said: “The energy at the Future Labs Pitch Day was electric! It has been fantastic to witness the engagement from LNER, Northern, Southeastern, and TransPennine Express over the past few months and during the day itself. “I was incredibly impressed by the entrepreneurs behind the nine companies that have been selected to join the programme and I’m excited to see how Future Labs will fast track these innovations to shape the future of the rail industry.”Yorkshire Building Society names Holly Rankin as Chief People Officer
Yorkshire Building Society will have a new Chief People Officer when Holly Rankin takes post in December this year.
Holly brings more than 28 years’ experience in human resources, including 16 years in financial services.
She will join from Barclays Bank, where she has been MD HR. She previously held the roles of HR Director, Community Banks and Wealth at Lloyds Banking Group and Head of HR for the Retail Network at Santander UK. She is experienced in shaping and leading strategic people plans, covering culture change, talent and succession, reward and leadership capability.
Holly is a volunteer Board member at the charity Smart Works, Birmingham which exists to help women gain the confidence they need to secure employment and change their lives.
She said: “I am thrilled to be joining the team at Yorkshire Building Society and I am particularly proud to be joining a mutual, purpose-led organisation focused on great customer outcomes and positive impacts in society. I’m particularly looking forward to building on the great work already under way to cultivate an ambitious, inclusive culture.”
Susan Allen, Chief Exec of Yorkshire Building Society, said: “I am delighted Holly is joining the Society and I am looking forward to her bringing her skills and experience, as well as new perspectives and insight.”
Doncaster developer welcomes creation of ‘new homes accelerator’
The CEO of Doncaster-based developer Keepmoat has welcomed Government plans for a ‘new homes accelerator’, which is intended to help end the housing crisis by getting stalled housing plans through the system.
Time Beale said: “The current situation is deeply frustrating, so I am very hopeful that this will be a positive step towards unlocking the delivery of our stalled developments, helping us to continue working with our partners to build more of the high quality new homes that the UK needs.”
David O’Leary, Executive Director of the Home Builders Federation said: “The planning process and everything associated with it delivers too little land and has long been a significant constraint on house building. Government has shown a welcome desire in the weeks since the election to address the problems. A lack of planning department capacity and misaligned incentives for other public bodies and statutory consultees has created a process with huge uncertainty. This creates an abundance of risk resulting in longer development timescales and severe challenges in particular for small and medium-sized house builders.
“Adopting a pragmatic approach to planning will increase the pace at which new homes are built and help to turn around ailing housing supply. Unlocking homes and delivering new communities will boost growth and support job creation while providing young people with access to new, more affordable housing. The housing market is complex and we look forward to working with government to ensure that all aspects of the housing market are functioning more effectively.”
The New Homes Accelerator will involve an experienced team from the Ministry of Housing and Homes England working across government and with local councils to accelerate the building of housing schemes delayed by planning and red tape to drive economic growth across every part of the country.
The team will bring together government agencies, local planning departments and housebuilders, who will work to resolve specific local issues and deploy planning experts on the ground to work through blockages at each site identified. This includes looking at barriers to affordable housing delivery where relevant.
Interventions could see the New Homes Accelerator provide resources to support local planning capacity where there are barriers and work across the board to make sure planning decisions are made in a timely fashion.
Government analysis suggests 200 large sites have outline or detailed plans ready to go but are yet to begin construction, and the team is already getting started on some of those that would benefit from early interventions. The Accelerator will focus on lending a helping hand to frustrated housebuilders and local communities who want to play their part to get Britain building again, in turn driving local and economic growth.
Grimsby training provider chosen to take part in nationwide Department of Education pilot scheme
The Department of Education has chosen Grimsby-based TEC Partnership as one of eight colleges to take part in a national pilot aimed at simplifying funding, auditing, and reporting rules for Skills Bootcamps.
As part of the project, TEC Partnership’s colleges and training providers will deliver Skills Bootcamps without the need to bid for funding through procurements. The pilot will be used to judge how wider changes can be made to the way colleges are funded and audited.
Participation in the pilot aims to enable education providers to deliver high-value provision that meets both national and local economic needs and supports learners’ progress into good, sustainable jobs. This project, therefore, strongly aligns with TEC Partnership’s commitment to supporting local communities and creating new opportunities for the next generation of workers.
The launch comes as part of the DfE’s broader reforms, including merging several adult skills budgets into the single Adult Skills Fund in 2024/25.
Skills Bootcamps are short learning and training programmes that are free for participants. For employers wishing to train their staff, the programme will pay for 90% of training costs for SMEs with under 250 employees and 70% of costs for programmes for larger organisations.
TEC Partnership is proud to offer a range of Skills Bootcamps. These programmes are codesigned with employers and offer individuals a great opportunity to train in a new industry or progress in their current careers.
Doncaster Chamber to stage ‘invitation only’ opportunity to meet Bank of England Governor
Selected Doncaster businesses will soon be invited to meet Bank of England Governor Andrew Bailey at the Yorkshire Wildlife Park on Friday 4th October.
At a breakfast session with more than 100 Chamber members he will share the ongoing efforts to create monetary stability in our country and manage inflation, followed by an open Q&A session.
Dan Fell, Chief Exec of Doncaster Chamber, said: “It is heartening to see the UK’s central financial institution proactively connecting with firms on the ground like this and outside of the UK’s core cities. SME communities in places in Doncaster form the backbone of the UK’s economy; consequently, it’s vital that they – as representatives of the real economy – be part of the conversation about where our economy is heading next, and that their perspectives are heard by those with the power to enact change.
“Additionally, we are excited to hear from the Governor himself, as he shares his authoritative insights with the room and helps us come to a better understanding of the country’s economic circumstances. The fact that the invitation-only event will follow hot on the heels of an interest rates decision meaning there will, no doubt, be lots to talk about.”
New £38m centre to develop planet-friendly alternatives to animal proteins
The University of Sheffield will co-lead a new £38 million centre to develop planet-friendly alternatives to animal proteins that could soon be a sustainable and nutritious part of diets.
The researchers of the National Alternative Protein Innovation Centre (NAPIC) aim to secure a continuous supply of safe, tasty, affordable, and healthy proteins which also support Net Zero goals and futureproof the UK’s food and animal feed security.
NAPIC will receive £15m in funding from the UKRI Biotechnology and Biological Sciences Research Council (BBSRC) and Innovate UK, with the rest being invested by the centre’s partners. It will be co-led by the University of Leeds, James Hutton Institute and Imperial College London.
Alternative proteins (APs) such as cultured meat, plant proteins, insect-based proteins and proteins made by fermentation are derived from sources other than animals. They include terrestrial and aquatic plants such as cereals, legumes, tubers and nuts; fungus such as mushrooms; algae (such as seaweed); insects; proteins derived via biomass or precision fermentation, and cultured (or lab-grown) meat.
NAPIC’s partners believe the centre will bolster the UK’s agri-food sector by harnessing world-leading science to turn ideas into reality and strengthen the UK’s position as a leader in this rapidly emerging global market.
Professor Louise Dye, Co-Director at the University of Sheffield’s Institute for Sustainable Food and NAPIC, said: “With a growing world population projected to reach 10 billion by 2050, the demand for protein and the need for people to have access to a safe, nutritious diet will continue to rise.
“However, for this to be sustainable, it’s imperative we find ways to meet this demand by supplementing traditional animal agriculture with alternative protein sources including from plants and other sources.
“The key to helping consumers transition towards including alternative proteins in their diet will be ensuring consumers are aware of the safety and health benefits of alternative proteins. We will promote the integration of alternative proteins into people’s daily diets in ways which are affordable and are as desirable and healthy as conventional protein sources.”
The University of Sheffield will lead on the centre’s research to deliver alternatives that offer benefits for health, and which are affordable and appealing to the public. The researchers will also identify new business opportunities for farmers and producers, and work to future-proof the UK’s protein supply against reliance on imports.
Professor Tuck Seng Wong, from the University of Sheffield’s School of Chemical, Materials and Biological Engineering, said: “Traditionally, high-protein sources have come from animal products like meat, eggs, and dairy. However, animal agriculture is unsustainable, and meeting the protein needs of a growing and ageing global population presents a significant challenge to the world.
“So it is crucial we consider alternative protein sources, such as plant-based options, precision fermentation, biomass fermentation, and even insects. These alternatives offer additional benefits for consumers and industry – with precision fermentation, for example, production of specific proteins can be done without the complexity of traditional mixtures or the risk of allergens.
“It’s important that public trust is built in affordable, healthy, alternative protein-based foods, so we’ll be working with key stakeholders to ensure APs taste good, are nutritious, safe, sustainable and competitively priced; as it’s the consumers who will ultimately decide the success of the alternative protein sector.”
Over 30 researchers from the four institutions and more than 120 NAPIC partners will work closely with industry, regulators, investors, and policymakers to create a clear roadmap for the development of a National Protein Strategy for the UK.
Alongside Professor Louise Dye, who will lead the team at the University of Sheffield, the other co-leads for the centre will work on different interdisciplinary knowledge pillars to translate the groundbreaking new technologies which could unlock the benefits of alternative proteins.
Professor Anwesha Sarkar of the University of Leeds will lead a team that will ensure that alternative proteins perform both before consumption and afterwards, taking on board taste and texture and safeguarding public health.
Led by Professor Derek Stewart, the James Hutton Institute will work on enabling the production of tasty, nutritious, safe, and affordable AP foods and feedstocks necessary to safeguard present and future generations, while addressing concerns about ultra-processed foods and assisting a just-transition for producers.
Professor Karen Polizzi of Imperial College London will lead a team which aims to act as a catalyst for the mainstreaming of cultivated meat and precision fermentation to diversify and accelerate upscaling of alternative proteins.
Professor Anwesha Sarkar, Director of Research and Innovation for Leeds’ School of Food Science and Nutrition, is the Project Leader for NAPIC. She said: “A phased transition towards low-emission alternative proteins which have a reduced reliance on animal agriculture is imperative to deliver sustainability and protein equity for one and all, and to ensure a sustainable planet.
“NAPIC will provide a robust and sustainable platform for open innovation and responsible data exchange and collaboration with partners from industry, regulators, academic partners and policy makers that mitigates the risks associated with this emerging sector, and also addresses the short- and longer-term concerns of consumers and producers.”
Bridging the gap between the UK’s science and innovation in alternative proteins with production power will be key to NAPIC’s success. Those behind the project believe it could be a true catalyst to realising a projected UK growth potential in alternative proteins of £6.8 billion annually, with 25,000 jobs created across multiple sectors, as predicted by the Environmental Group, Green Alliance in 2023.
The centre also aims to develop the future leaders of what is a rapidly-evolving sector experiencing significant consumer demand and promote the exchange of knowledge through an international network of partners, including the United Nations.
Professor Guy Poppy, UKRI’s Food Sector Champion and BBSRC Deputy Executive Chair, said: “As we face the escalating demands of a growing global population and the subsequent pressures on our traditional food systems, the UK is poised to lead transformative solutions.
“The launch of the National Alternative Protein Innovation Centre exemplifies our commitment to spearheading innovation in the alternative proteins sector. By harnessing the strengths of our world-class scientific community and robust industrial partnerships, this initiative addresses vital sustainability challenges and forges essential links between research and commercial application.
“Academic and industry collaboration is key to transforming these pioneering ideas into practical, scalable solutions. Our strategic investment in NAPIC not only advances sustainable protein alternatives, it positions the UK as a leader in the global alternative proteins market, ready to meet both current and future challenges.”
HMRC debunks myths about self-assessment tax returns
Anyone who needs to complete a Self Assessment tax return for the first time to cover the 2023 to 2024 tax year, must tell by 5 October 2024 – but does that include you? In this article HMRC debunks five myths…
There are plenty of myths about who needs to file a Self Assessment return before the 31 January 2025 deadline and HMRC today debunks some of the most common ones.
Myth 1: “HMRC hasn’t been in touch, so I don’t need to file a tax return.”
Reality: It is the individual’s responsibility to determine if they need to complete a tax return for the 2023 to 2024 tax year. There are many reasons why someone might need to register for Self Assessment and file a return, including if they:
- are newly self-employed and have earned gross income over £1,000
- earned below £1,000 and wish to pay Class 2 National Insurance Contributions voluntarily to protect their entitlement to State Pension and certain benefits
- are a new partner in a business partnership
- have received any untaxed income over £2,500
- receive Child Benefit payments and need to pay the High Income Child Benefit Charge because they or their partner earned more than £50,000
