Need help?

All of us need help to identify our strengths and weaknesses and use this information to grow and prosper in today’s challenging business environment.

If you are just setting up a new practice or have reached a glass ceiling in the development of an existing practice I may be able to help.

Why objectivity is critical

A professional practice is a reflection of the skills and ambition of its owners. Unfortunately, what we lack as individuals is the ability to be objective, to see ourselves and our practice as others see us. This is the barrier that most practitioners never consider and it can have dire consequences.

For example, in the constant rush to deal with clients’ affairs we rarely give much thought to the development of new income streams for our practice beyond the need to meet the compliance demands of the businesses and individuals we act for, and yet the seeds of many of those additional income streams are already sown.

Unravelling and releasing potential is mostly a matter of identifying opportunities, and these opportunities need to be relevant and readily communicable to clients and business prospects. You can’t sell processes, you can sell benefits.

Like an objective assessment of your practice?

If you would like to work on your practice can I suggest that you call me to discuss how I may be able to help you develop a grounded development plan for your business.

Initially, we just need to discuss options to see if a collaboration would be appropriate. Email bob@landmarkpd.co.uk or call me anytime 07879 896073.

How much would this cost?

If we decide that there are realistic opportunities to explore, benefits for your practice, I will book a day’s appointment with you. I will charge an initial booking fee of £500 plus travel costs which is payable in advance and is non-refundable. The balance of my fee, £1,500 plus VAT would be payable at the conclusion of our consultation and is subject to the following guarantee.

I do offer a guarantee.

I will give you an opportunity to assess the ideas and benefits we have discussed mid-day and if you consider there is no value for your practice then no further fees will be payable and I will leave. Thus far, no practitioner I have worked with in this way has called in this guarantee.

 

Are you interested in referrals?

From time to time I have received requests for advice from business owners and private tax clients as a direct result of my existing internet activity. Thus far I have been content to pass on the majority of these enquiries to firms that I know and respect; I no longer have an interest in expanding my remaining small-scale practice.

I suspect that this process will increase in frequency during 2019-20 as I am launching a weekly news-feed targeted at building an opted-in mailing list of business and property owners and high value private client individuals in the UK.

A sprat to catch a mackerel

The news-feed (the sprat) will be in the form of a weekly tax or business development tip that aims to intrigue readers rather than offer advice. As a footnote I will encourage the posting of comments or requests for more information.

These requests will then be made available to firms who are interested in converting the request into a new client appointment.

Would you be interested in accessing the referrals I create?

So that the process does not become a lottery, I intend to build a list of firms that would like to be given access to these requests for advice. Each comment from a potential new client will be directed to a firm where I believe there is a good fit. I will consider location, specialist services offered and other relevant matters.

What sort of new clients are you targeting?

This is probably one of the key questions I need to know, so that I only direct appropriate requests in your direction. No point in offering you a building contractor enquiry if you have no interest in the CIS or the building sector generally.

Send me an email if you are interested

Email bob@landmarkpd.co.uk if this sounds like a project you would like to join. I am prepared to create the enquiries, filter these and direct them to the firm I feel is best placed to offer advice. In the first instance I will simply send you the enquiry without any personal contact information included.

I will be charging a small introducer’s fee when I subsequently release the prospect’s contact details. No other fees are chargeable by Landmark.

I will shortly be building a new page on the Landmark site with full details of how the scheme will work in practice. If you want to get your foot in the door, and at the top of my referrer’s list, email with your initial answers to the following questions:

  1. What sort of clients (client sectors) do you not want to acquire for your practice?
  2. What sort of clients (client sectors) are you targeting at present?
  3. What is your location.
  4. Are you only interested in local approaches or UK wide?

Reply direct to my email address: bob@landmarkpd.co.uk.

 

 

 

 

 

What’s next? Life after the SA deadline

MTD, Brexit, year end tax planning 2018-19, what’s next? I’d like to offer a few suggestions.

Road trip 2019

I have opened up a number of slots in my diary and I’d like to visit and brain storm ideas with you, developing new ideas for your practice during 2019. In my experience there is no better way to open up new opportunities than allocating time to see what possibilities there are to increase practice earnings and improve client services.

What’s in this for you?

Having had almost thirty-five years in full time practice I could hopefully inject a little objectivity into your planning? Sometimes it’s hard to see the wood for the trees, compliance is a hard task master.

Hopefully, at the end of our discussion, you will have a number of ideas that you can start to implement immediately. Specifically, you could identify:

  • cross-sales opportunities with clients,
  • new products and services you can offer clients and prospects,
  • new ideas for selling and marketing these options,
  • upcoming changes in legislation that offer scope for increasing the range of recurring “compliance” services.

What’s in this for me, for Landmark?

As you have probably noticed most of my marketing activity revolves around my Insights newsletter. Whilst this is effective in reaching large numbers of practitioners, and quickly, there is no substitute for a face-to-face conversation.

It is much easier for me to demonstrate the relevance of what Landmark offers by linking our services to specific practice issues: over reliance on compliance activity, no time to think about practice development, and so on…

How much would a visit cost?

On the basis that our initial conversation may or may not produce a positive outcome for your practice I am offering my time free of charge.

However, I am based in North Yorkshire, so depending on your location, and depending on how many other practitioners I can visit in your area, I would ask for a contribution to my travel costs. I would agree a figure with you prior to fixing a date and time.

How do I organise a visit?

Call me – 07879 896073 – or email a time when you would be free to speak and I’ll call you.

Are you claiming the new Structures and Building Allowance for clients?

The following post is provided by one of our Partner firms The Capital Allowance Review Service (CARS). It has been edited for the benefit of professional readers. See more about the services offered to practitioners on CARS’ Partner Page. The article that follows covers the structures and buildings allowance and was posted to CARS’ website December 2018.

Introduction

As even failing businesses have come to understand, allowances and tax credits allow a business to survive even when they’re not profitable. By claiming the credits the government allows for the investments you’ve made in building commercial or business related structures, you can save on costs. With structures and buildings allowance, you get tax relief to grow and expand your business, even helping to fund building new structures later on.

Here is everything you need to know when putting together your claim for structures and building allowance.

Understanding Your Qualifications

The structures and buildings allowance (or SBA) is one of the most significant changes in capital allowances in many years. Since the end of the industrial buildings allowance era, there has not been anything significant that could replace that allowance. The structures and buildings allowance is acting as a direct replacement for this previous allowance in several regards.

New construction on non-residential buildings is the primary qualifier for this kind of allowance. The allowance is offered over the course of 50 years at an annual rate of 2%. It’s available for new properties that meet a specific kind of criteria, with the land element being ineligible for this allowance.

Assets such as plant, machinery, fixtures and fittings are not eligible for SBA, nor are integral features.  These items continue to qualify for capital allowances, including the Annual Investment Allowance (AIA) and will continue to be calculated separately.

Get Prepared Now

This relief and allowance program has come into effect for projects that commence after the end of October 2018. Take the time to research the measure because the provisions for commencement are complex and unique. There are anti-avoidance measures that keep taxpayers from manipulation of the relief.

If you’re thinking of moving a few statements in your contract around to fall within the window for relief, pump the brakes! You could end up in trouble or disqualifying yourself from future relief.

If you entered into your contract before October 29, 2018, including any preparatory work, you might be disqualified. The physical construction works need to be agreed upon after that date if you want to ensure that you can qualify for this relief.

The relief becomes available from when the building or structure is bought into use.  There are further rules to consider if the building ceases to be used for a period of time.

The Features of Relief

If you want to see relief from this allowance, you need to get to know what the main features are. If you haven’t signed off on your next contract yet, you can consider this allowance before you start a new project.

Be aware that new commercial structures and buildings can fall under the terms of this relief. If you’re creating a new conversion or doing some renovations, you might be able to claim SBA.

The UK construction industry is seeing some huge changes. If you’re building in the UK or overseas, you can still potentially make a claim as long as you pay UK taxes.

Your 2% over a 50-year period will be limited to what it costs you to actually build the structure or the building. However, these costs can extend to demolition, land alterations, and any direct costs that create an asset in the first place. Whatever it takes to bring the asset into existence, that could apply.

The Limitations of Relief

When you want to make your claims, you need to be aware that there are some limitations to this relief.

A claim begins from when the building or structure is bought into use.

The rights over your land or any land costs aren’t eligible for relief. The costs that you pay to get planning permission aren’t covered either.

You may be asked to show documentation of your interest in the land you have. If there’s no purchase over the land that your building is constructed on, you might not able to claim relief.

Don’t expect residential dwellings to qualify for this relief. Even if you’re holding a mixed-use property where most of the structure is used as commercial, the part that is residential is prohibited and an apportionment will apply.

Renovating or converting a structure or building makes things complicated. If you’re doing so to make it a qualifying asset under these terms, you may end up qualifying for a separate relief.

If you’re unsure about the kind of relief that you’re going to qualify for, speak to us!

Structures and Buildings Allowance Brings Growth to Cities

With the help of the structures and building allowance, investing in cities has never been easier. Former booming urban environments can once again come to life with this kind of investment.

This allowance allows a lucrative return on investment. It encourages growth and risk-taking where it matters in the commercial sector. A growing number of small-scale investors see this allowance as an opportunity to get involved in the construction industry and invest in new ways.

Need help with a client Capital Allowance claim?

See more about the services offered to practitioners on CARS’ Partner Page.