Member News

TaxAssist Accountants’ strong performance has seen the network of small business specialists maintain the 21st place in the highly regarded Accountancy Age industry league table with a 9% increase in fee income, up from £41.5m to £45.3m.

Celebrating excellence in accountancy practice, the Accountancy Age Top 50+50 spotlights the top accountancy firms in the UK ranking them according to UK fee income for the last financial year.

Karl Sandall, Group Chief Executive Director at the TaxAssist Group, said: “We’re pleased to have retained our position at 21, because of a strong growth rate that has outpaced many other firms.

“I suspect we will see some very different results in the sector off the back of this year, but we remain optimistic, having witnessed a gradual recovery since lockdown in terms of new client numbers and sales. This is due to the sustained support given to our accountants and their clients and the excellent efforts of everyone throughout the network to keep trading.

“We are continuing to recruit many new franchisees to our network who can see the value of our brand name and the evolving and comprehensive support that we provide. Small business clients have needed our assistance like never before to help them to survive and thrive and our network of high street shops with their highly visible presence are ideally placed to service this increase in demand.

“I feel confident that our adoption of a best-in-class technology suite combined with our full-service offering, including a range of complementary services which both attract and support clients, bodes well for future performance.”

In her analysis, Beth Mason of Accountancy Age stated that the data reveals a “robust performance from UK firms despite (the) challenging environment”. She goes on to predict: “Over the course of 2021 we may see growth in a number of areas, with sustained investment in technology and additional services as firms recognise the importance of innovation to capture a greater share of the market.”

To see the list of the Top 50 firms and an analysis by Accountancy Age click here.

What is the scheme

Chamber Energy is designed to help Norfolk Chamber members who are looking to reduce their carbon footprint and / or switch to a ‘green’ energy supplier. With access to a wide array of tools and resources, Indigo Swan are offering Chamber members free advice and support to help them on their low carbon journey.

Indigo Swan work with an array of energy suppliers so from finding the right supplier, to checking and negotiating contracts we are here to help your business be greener.

Who are Indigo Swan?

Indigo Swan are a Norwich-based energy consultancy who since they started in 2009 have helped businesses all over the UK make quick, easy and well-informed decisions about their energy. They offer their clients a bespoke service to suit their needs.

In 2019 they were crowned ‘Most Trusted UK Energy Consultancy (SME)’ at The Energy live Consultancy Awards (TELCA) and were also recognised among the top 3 UK employers to work for at the Employee Experience awards.

Recently they won the regional British Chambers of Commerce ‘Workplace Wellbeing’ award highlighting their dedication to creating a happy environment for their team to work in.

To find out more get in touch with them hello@indigoswan.co.uk or phone them on 01603 625522

Let’s help get Norfolk on its way to becoming Carbon Neutral.

Future Radio has released a charity single, This Fine City, in the same week that Local Radio Day was celebrated throughout the country. The single is to raise funds to relocate the radio station, following the loss of their offices and studios when their landlord’s premises closed.

At the start of lockdown, Future Radio’s landlord, Open Youth Trust, sadly closed its doors, and the community radio station has been operating remotely since then. Now work is underway on the long and costly process of relocating the station to a new home.

In a magnificent effort, Future Radio’s volunteers have been pulling together to help raise funds for the move. The ambitious idea to create and release a charity single was put forward by the producer of the station’s Future Vegan show and local singer/songwriter and host of Future’s Afternoon Session, Lisa Redford stepped up to the plate.

The song has been written by Lisa as a tribute to Norwich and produced by Andrew Todd, a volunteer presenter at Future Radio. As the project came together, it drew in more and more musicians from the local music scene. The track features the talents of 10 leading local musicians alongside Lisa.

Lisa said “I was delighted to be asked to compose the single as a tribute to my home city, for the radio station I love. The song is a tribute to Norwich and how we’re getting through such a challenging time. Future Radio, which is facing some tough times itself, is such an important part of the life of the city, I hope people will enjoy this anthemic celebratory song and help the station to move to a new home.”

With other local radio stations across Norfolk recently having been taken over by a national brand, Future Radio is now the only local station in Norwich other than the BBC, so the team is eager for the station to remain rooted in the city centre, where it can be easily accessed by volunteers, guests and artists.

Christopher Remer, Income and Volunteer Coordinator at Future Radio, who pulled the project together, said “This has been a fantastic effort by Lisa, Andrew, their fellow volunteers and local musicians. We’ve been really touched by all the hard work everyone has put into this fantastic single. Although we still have a long way to go, we hope sales of the song will mean we’re able to reopen Norwich’s community radio station for our volunteers, guests and listeners as soon as possible.”

The song costs just £1 to download and all the proceeds will go towards raising funds to relocate the station to a new home. To get hold of This Fine City by Lisa Redford and Friends, go to www.futureradio.bandcamp.com from Friday 16th October.

Freebridge Community Housing welcomes new Director

Freebridge Community Housing are delighted to announce that Paul Newbold has joined the organisation as Director of Development.

Paul has a very strong background in management and development and joins Freebridge having worked at a senior level for a number of housing associations over the last 30 years. One of the associations that Paul has been involved with in the past being Freebridge, having worked with the organisation on a project back in 2016.

Paul Newbold, said: “I am very pleased to join Freebridge and looking forward to helping them develop an increasing number of new homes to provide much needed good quality housing for the people of West Norfolk.”

Anita Jones, Freebridge Chief Executive, said: “We are delighted to welcome Paul on board to further strengthen our leadership team. With his experience, knowledge and expertise he will make a great addition to the organisation, and we look forward to working with him to develop Freebridge further over the next few years.”

Manage Your Time Effectively : The Time Lords   

In this first episode of season 2, James and Mark return to talk about prioritising the use of time for leaders and their teams. As usual they provide 3 top tips, drawing inspiration from the likes of Stephen Covey, Tim Ferriss and Sir Cliff Richard, and James even explains how you can create more than 24 hours in a day!

You can subscribe on Apple Podcasts, or listen here!

Manage Your Time Effectively : The Time Lords   

In this first episode of season 2, James and Mark return to talk about prioritising the use of time for leaders and their teams. As usual they provide 3 top tips, drawing inspiration from the likes of Stephen Covey, Tim Ferriss and Sir Cliff Richard, and James even explains how you can create more than 24 hours in a day!

You can subscribe on Apple Podcasts, or listen here!

• ·       Norwich Drive in For Hope, taking place on World Homeless Day, raised over two thousand pounds to tackle homelessness;
• ·       The event was held to mark the launch of new charity Hopestead which aims to end homelessness in the East of England;
• ·       The charity – established by Flagship Group – has already delivered an initiative awarding over £350k to 700 families at risk of losing their homes.

A Norwich drive in cinema event taking place on World Homeless Day has raised funds to help tackle homelessness.

All ticket sales from the Drive In For Hope, held at Heartsease Lane on Saturday 10 October, have generated over two thousand pounds in funds which will go towards supporting those who are homeless or at risk of homelessness.

The event – which saw family favourite ‘The Greatest Showman’ shown – took place to mark the launch of Hopestead, the new charity from Flagship Group with the aim of ending homelessness in the East of England.

Marie-Claire Delbrouque, Managing Director of Hopestead said: “The Drive in For Hope was a fantastic, uplifting event which brought people together – safely – through film.

“We are so grateful for the support and generosity of everyone who came along: simply by watching a movie, you have helped us to tackle homelessness.

Although this weekend marked its official launch, Hopestead began an initiative earlier this year, offering support to Flagship Group customers during the pandemic when it became clear that Covid-19 had the potential to increase homelessness.

Hopestead has since awarded in excess of £350k to nearly 700 families who might be at risk of losing their homes. Some of those who received this support shared their stories in a moving film which was also shown at the Drive in for Hope on Saturday.

Marie-Claire Delbrouque explained: “Now more than ever we are seeing people at risk of losing their homes. Doing nothing is not an option for us and we feel we have a fundamental responsibility to tackle this problem in our region.

 “Which is why we have launched Hopestead. We believe everyone deserves a place to call home. We want to end homelessness in the East of England

“This is an ambitious goal. But by tackling the causes of homelessness and working in partnership with likeminded organisations already working hard to eradicate homelessness, we believe we can achieve this together.”

Rebecca White, CEO of Your Own Place – which aims to find innovative as well as cost-effective solutions to homelessness – attended the event and said: “What a fantastic launch to a new service that worked so well during this pandemic. For me the film resonated with homelessness as The Greatest Showman worked to make people normally ignored by society, visible. 

“And that’s what we need to do with homelessness.  We need to change the conversation so people realise it can happen to any of us. 

“Our intention, as we at Your Own Place start our relationship with Hopestead, is to be a part of the conversation and the solution.  I know already that we share the same vision in eradicating homelessness in the east.”

Helen Baldry, Head of Marketing and Communication at St Martins Housing Trust said: “The drive-in event on Saturday was brilliant. It was a fun and safe way to mark the launch of Hopestead in a socially distanced way. People who had experienced homelessness talked about the impact well placed support has on their lives; the relief they spoke about was tangible.”

Dr Jan Sheldon, CEO of St Martins added: “St Martins has been working in Norfolk over nearly 50 years to support homeless people and we are excited about the launch of Hopestead in our region. We have a shared vision of ending homelessness and we know the solution comes from partnership working. We can achieve more by working together, and this involves prevention work, long-term housing and sustained support to help each person fulfil their potential.”

The Norwich Drive-In for Hope was mirrored by a similar drive-in movie showing in Ipswich on 9 October which raised over one thousand pounds from ticket sales. With donations across both sites, the total raised to tackle homelessness in the East of England over the weekend was nearly £4,000.

Find out more about Hopestead here: www.hopestead.org

Medical finance experts, Lizzy Lloyd and Andrew Burwood of MHA Larking Gowen, are collaborating with Rob Day from Mills & Reeve to deliver these upcoming webinars, giving medical professionals an update on Primary Care Networks and Incorporation of GP medical practices. 

Primary Care Networks update

Tues 20 October 1pm – 2pm

Topics will include:

• PCN funding

• Accounting for the PCN surplus in 2019/20

• Latest position re VAT and clinical director role

• PCN structures and incorporation

There will also be a live Q&A session at the end. This webinar will be recorded, but we ask you to register to make sure you get a copy of the recording after the event.

Book your place here

Action on Intrastat

If your business submits Intrastat reports or uses the UK Trade Info site, we’re highlighting changes that may affect you.

Action this week

Users of UKTradeInfo may know that the site relaunches on Monday 19 October – that’s next Monday. We want to highlight that data you have saved to the site won’t be migrated to the new site, so export and save all the tables you’ll need in the future. The IT team behind the relaunch are warning of some bugs in the new site, so expect that from Monday the new site may not be 100% reliable and plan accordingly.

Action from 1 January 2021

For businesses who currently make Intrastat reports, it’s important to know you must continue to submit Intrastat reports after January 1 2021, as well as submitting import and export customs declarations for goods crossing the EU border. For more on this subject, on the HMRC site there’s a useful FAQ document on Intrastat declaration requirements for 2021, including the reports required for trade through NI. Intrastat FAQ here

I regularly post on the IES blog where there’s lots more relevant to the import export business. IES Blog

Need some advice? Email me, Tracey Renshaw directly at enquiries@importexportsupport.co.uk

A local firm of independent financial advisers is celebrating after being voted the best in their field at the recent MoneyAge Awards. Face to Face Finance, based in Cringleford, has won the Financial Adviser Award for Small to Medium Firm of the Year, beating off stiff competition from across the UK.

The MoneyAge awards celebrates excellence, innovation and professionalism in the personal finance space. Winners for each category were selected by a prestigious panel of industry leaders and announced during a special broadcast on the 8th October.

The team at Face to Face Finance was recognised for the support they offer younger people, using innovative technologies and social media to engage with new audiences. Managing Director, Julie Hunt, explains why this award means so much to them:

“Having all our hard work officially recognised as being industry-leading is a fantastic feeling! This award positions us as right up there as one of the top firms in the UK. It’s especially gratifying to see the efforts we’ve been putting into supporting younger audiences given a special mention – the earlier people start taking an active interest in their finances, the better for their long-term financial future.”

Face to Face Finance offers a range of financial planning services, including investments, pensions and all the other options you might expect an IFA to offer. But it’s their cash flow planning service and their non-advised Face to Face Digital platform which really captured the judges’ interest. Julie continues:

“It’s this willingness to embrace new opportunities that has helped support the firm’s growth over the past number of years. These services are suitable for all ages, but particularly appeal to younger customers who are trying to find a way to make the most of their income for shorter-term goals, like buying a house, or are keen to dip their toe into the world of investing.”

The firm celebrated their win with a socially-distanced glass of bubbly!

A full list of winners can be found at: https://moneyage.co.uk/awards/winners20.php

As part of your Brexit planning, our advice is to remember compliance is key. We can be sure that HMRC will be hot on compliance next year, we see they have recently updated the notice on penalties.

Why it’s worth checking compliance  

The list of penalties is eye-watering, ranging from £1,000 to £2,000 per instance. It will be the trader, the importer or exporter, who will be penalised, not the person submitting the declaration on your behalf. They make it clear that excuses such as I didn’t know or We didn’t check won’t wash. In HMRC’s world, ignorance is never bliss! The good news is penalties can be avoided if you discover the contravention before HMRC and report it straight away. HMRC say:

“You will not receive a penalty if you discover and disclose a contravention voluntarily”    

Our advice is to ensure your Brexit planning includes an emphasis on checking compliance at every stage.

Details on penalties here: HMRC penalties Who will be liable for what here: HMRC information We can expect further developments on this and other import and export systems, we will endeavour to keep you updated. As always, please call or email me with comments or questions, we’re always happy to discuss individual issues, click here: Import Export Support site

While some of us may cringe at the thought of the festive season already looming, Christmas is a pivotal period for many businesses. The impact of Covid and accompanying lockdown has already been felt across the key dates of 2020. Unsurprising then that there remains an element of doom and gloom around the festive season. However, at Image Development we have a different perspective. With a unique insight into the world of independent small business here in Norwich, we believe Christmas 2020 could be a big opportunity. We round up some of the relevant changes to consumer behaviour as a result of Covid; explore why this benefits small business and how to prepare a marketing strategy to make the most of this opportunity.

  How has Covid changed consumer behaviour?

It might seem obvious to say, but Covid has had a significant and immediate effect on consumer behaviour. Many have reported years of change taking effect in a matter of weeks or even days. This contributes to the system shock felt across business. For many of us, challenging times have followed a near universal hunkering down in terms of spend and attitudes to purchasing. Meanwhile some businesses have seen a surprise uptick, usually if they have been agile in embracing digital and maintaining brand salience and ease of access to their audience. McKinsey and Company highlight the importance of this digital omnipresence, with e-commerce continuing to grow across all product categories in the UK. Admittedly, big ticket sales remain wobbly, with many consumers realigning their behaviour to meet the uncertainty Covid has wrought with more modest value-driven purchases.

This uncertainty has also shaken loyalty. Established relationships with brands that were interrupted by Covid brought with them opportunities for their competitors. Value, ease of access and quality replaced loyalty, as 70% of UK consumers adopted new shopping behaviours. Convenience also ranked highly as a reason why shoppers decided to make a change, adding to the melting pot of new trends business must navigate. But what does this have to do with small business? Surely with the landscape moving underneath our feet it’s a game for the big brands with deep pockets? Well not necessarily. We believe that many trends are playing right into the strengths of small independent businesses.

  What are the benefits for small business?

Covid has certainly given us time. Time to think about whether that lockdown haircut was ever a good idea. Time to think about sourdough recipes and home workouts to burn them off…but also, time to think about value versus cost. Consumers have had time to put value in perspective. Sentiment has shifted to more value-driven purchases. Trends indicate a move away from big ticket purchases to items that offer a different type of value, especially as financial fortunes remain uncertain. Add this to the desire to support local business, and we start to see the emerging opportunities. Rather than a big screen TV or flashy fashion accessory, consumers may now have a bigger appetite for smaller gifts. These gifts may not cost as much, but arguably offer more value to their loved ones. In other words, gifts that tell a story, support local business and provide emotional connection are valued more. Now we don’t know about you, but this sounds just like the kind of quirkiness and quality we’d find in the streets of Norwich. The problem however, is that we’re not walking the streets of Norwich as much as we’d like to be. It’s not as ‘convenient’ as pre-covid. Equally the wider population has become more of a homebody too. So whilst there is an appetite for value and local product, the question arises, can small business satiate it conveniently enough? When you’re hungry, it’s often easier to eye up the takeaway menu than conjure up a meal yourself. Such is the salience and ease of access other larger brands often have to their advantage. So as a small business, it’s important to ensure you’re visible and accessible, both on and off the high street.

  How to market for success this Christmas (& beyond)

Now we’re not suggesting that consumers won’t flock to the big brands or have the best of intentions as they fill their Amazon baskets. They will. However there is an opportunity for small business to leverage this change in behaviour, with the right marketing. Digital will remain a big factor, with an appropriate online presence important for almost all small businesses. That’s not to say we won’t return to the high-street. In fact this is one of the first areas people want back in their lives, with many consumers already strutting the streets. However, the numbers who can frequent your brick and mortar store are going to be reduced, so it’s worth considering how to translate part of your experience online, even if it’s a sleek booking system for in-store visits.

Brand values and purpose remain important to consumers, so ensure you’re sharing your story as well as your products online. This can often be overlooked in the rush to simply ‘sell’ online. Engage other aspects of digital in your efforts too. When we talk about brand salience, it’s simply how quickly and clearly your audience thinks of you, why not give them a little help? Share your story, services and product across social media, email and even consider print depending on your goals and business type. A good functional website is of course important but it isn’t a silver bullet when taken out of the wider marketing mix.

While you’ve got your storytelling hat on, it’s worth considering what makes your product unique? What makes it relevant for your audience? Why should they buy it from you? Tell them. People like to be part of a story and given half the chance they might become part of yours. With the passion that often goes hand in hand with small businesses, sharing even a small piece of that can go a long way. It’s often a matter of reaching the right audience, especially in the noisy world of digital marketing. It’s here that the use of paid advertising can come in handy. With many social platforms offering quick and relatively simple entry into advertising, it’s worth looking into as a means to amplify your voice online. Just be sure you’re aiming for the right places and people to suit your business. In all it’s about communicating your story as clearly, quickly and genuinely as possible.

Whilst we’ve massively simplified the process, we hope we’ve helped to add some context to the opportunities for small business this Christmas. Needless to say the world remains a challenging place to navigate, business and marketing included. Whilst we wish we had a little festive magic to sprinkle on your marketing efforts, we’ve worked hard to develop a set of affordable and accessible marketing resources specifically aimed at small businesses – our DIY marketing packages. These are fixed price guides and training sessions to help develop personalised marketing strategies that small business owners and their teams can then manage themselves. Starting with a completely free consultation, we’re passionate about providing honest, effective support for our clients.

By all means get in touch with us to discuss your ideas, help boost your business this Christmas and future-proof your marketing efforts.