Is your business ready for new financial reporting standards?

Is your business ready for new financial reporting standards?

The Poole office of international accountancy and business advisory firm, Mazars, is offering businesses across Dorset and Hampshire free advice on implementing the new financial reporting framework FRS 102 and how to meet its requirements.

The aim of the Mazars Accounting and Financial Reporting Seminar is to explain what the changes, which have now come into effect,  will mean for your business as well as highlight transitional requirements and practical implications.

Speaking at this seminar is Sophie Campkin, Financial Reporting Advisory Manager with Mazars.  Responsible for technical communications within the UK and a member of the Mazars IFRS International Taskforce Committee, Sophie regularly drafts and presents technical material as well as issuing publications on the latest accounting and financial reporting developments.

This free seminar takes place on Wednesday 9 December at AFC Bournemouth Vitality Stadium from 8.30am until 10am. To register to attend, email Sandra Waring at Mazars  [email protected]

Mazars’ Poole office celebrates major national award win

Mazars’ Poole office celebrates major national award win

 

The Poole office of top ten accountancy firm Mazars is celebrating the firm’s success in this week’s British Accountancy Awards, where the firm triumphed in the National Firm of the Year category.

Lesley Fox, Managing Partner said: “We are absolutely thrilled with the award and proud to have played our part in contributing to the firm’s national achievement. We’ve already received numerous messages of congratulations from local clients and contacts; it’s a great boost for the whole team.”

The British Accountancy Awards ceremony took place in central London and was attended by hundreds of people from across the profession representing both the largest firms, and smaller local practices. It is run by Accountancy Age, the leading source of news and analysis for the sector.

The National Firm of the Year award was not open to self-nomination; instead it was decided on the strength of responses to a survey that Accountancy Age sent to the reader database of its sister title, Financial Director.

Lesley Fox added: “To win on the strength of client feedback is a great testimony to our commitment to client service, outstanding quality and technical excellence. Our people’s exceptional skills, experience and hard work have helped us build and maintain a great client base. In turn, those clients have voluntarily come forward to share very positive feedback about their experience of working with us. It’s a great result.”

 “This is a wonderful accolade as next year, Mazars in Poole celebrates its thirtieth anniversary of working in Dorset and Hampshire.”

Mazars has 19 offices across the UK, forming a key arm of the wider international, integrated global firm which has 73 countries around the world and a turnover of more than €1 billion.

Mazars adds up for career keen accountants

The Poole office of international accountancy and business advisory firm, Mazars, has expanded its team with the recruitment of six trainees this autumn.

Joining Mazars as its youngest employee is 18 year old school-leaver Dan Johnston from Southbourne. A former Bournemouth School for Boys pupil, Dan joins as an audit trainee with A-levels in maths, business and music.  He’s hoping his head for musical numbers ( he has grade 8 distinction in drums) will translate to accountancy. He says: “I’m keen to get a good solid grounding in accountancy and qualify at a young age so I can then explore different routes within the world of finance.”

Continuing the musical theme is Jonathan Calvert, 30, who has a music degree from Manchester University and studied at the prestigious Royal Northern College of Music. Jonathan has also worked as a professional French horn performer and helped run a French horn shop in London.  He says: “Seeing the business aspects of a music shop and assisting with the tax returns and book-keeping triggered an interest in accountancy for me.  I’m very excited about this new career path with Mazars.”

Ben Conibear, 23, from Devon also joins the audit department. Ben is a graduate in Earth Science from Oxford University where he also represented the university as an Oxford Blues level athlete and has competed in decathlons at national levels.  The keen sportsman said: “ I was attracted to Mazars because they have a really personable approach to their staff even though they are a big, international company.  I’m also excited to be joining Bournemouth Rugby Club so can keep up my sports interests while carving out a good career.”

Scarlett Harrison, 23, from Romsey and Martin Mc Gowan, 24 from Poole, join Mazars as graduates from Bournemouth University. Scarlett has a degree in Accounting and Business and has joined the audit team. “One of the lecturers on my course at Bournemouth University used to work for Mazars and he put me in touch with the firm. I’ve travelled a lot in between studying and the fact that Mazars has offices in over 73 countries around the world really appeals to me.”

Martin McGowan has a degree in Accountancy and Taxation and joins the Mazars tax department as a tax trainee.  He says: “I did the tax module at university and really enjoyed it. There are so many elements to tax – personal, business, indirect tax – I like the fact it’s constantly changing and challenging.”

On a one-year placement before going back to complete his economics degree is 20-year old Dan Kellaway. A former Poole Grammar School student, Dan is delighted to be with Mazars. “I have some friends who work here and so I could pick their brains about the lifestyle of this firm. Everyone is so genuine and supportive and my aim is to get some of my accountancy exams done in this year. I also used to play football at county level so I want to squeeze some time in between work and study to  play football with some of the other keen footballers here from  Mazars.”

National minimum wage – it’s a legal right so get it right!

 

The  Poole office of international accountancy and business advisory firm, Mazars, is urging businesses across Dorset and Hampshire to ensure they are up to speed when it comes to the laws surrounding national minimum wage (NMW).

Linda Broomfield, Tax Manager with Mazars warns: “Contrary to popular belief, NMW does not just apply to people who are paid on an hourly basis. It applies to everyone, including weekly and monthly paid employees.

“ Employers need to take special care in firms where there is a “long hours culture” and workers will typically work longer hours than required by their contract. It does not matter that their ‘official’ hours might only be from 9 to 5 – If the pay they receive for the pay reference period (PRP) when divided by the hours they have worked in that PRP is less than the NMW, then the employer is in breach of the NMW.”

Where it is found that NMW has not been paid, the employer is ordered to pay the employee the arrears, taking into account the time over which the underpayment has occurred. If the earnings are high enough to attract liability under PAYE, the employer must operate PAYE on the arrears and also pay over the tax and NI, along with any employer’s NI Contributions, to HMRC.

Linda Broomfield adds: “The employer will also be charged a penalty and their name and details of their offence will be published (a list of those ‘named and shamed’ is published each month). Currently the penalties imposed are equal to 100% of the arrears (although this is halved if the payment is made within 14 days) but the government has recently announced plans to double penalties for non-payment and potentially disqualify those employers who deliberately default from being a company director for up to 15 years. The maximum penalty will remain at £20,000 per worker.”

HMRC are currently running a NMW campaign, which provides an opportunity for employers to check that they are complying with NMW and, if they are not, they can ensure that any arrears are paid back.

Taxing times as charities urged to keep on top of financial changes

Charities across Dorset and Hampshire could soon struggle to keep up with the many changes to financial rules for this sector. That’s the message from the Poole office of international accountancy and business advisory firm, Mazars.

David I’Anson, partner with Mazars explains: “With so many important issues affecting the charity sector and many more changes planned for the future, it could become increasingly hard to keep up to date with all the legislation, especially as many charities are hard-pressed in terms of resources and staff to keep on top of all this.

To help alleviate the pressure, Mazars has organised a free charity autumn seminar to cover issues ranging from taxation and VAT updates, fraud prevention, governance and the complex FRS 102 and SORP updates.

David I’Anson: “Our expert team will provide an update on issues affecting this sector and this seminar is suitable for anyone who works in a charity finance team.”

The Mazars Charity Autumn Seminar takes place on Thursday 29 October at The Hilton Hotel in Southampton from 8.30am to 1pm and includes lunch

To register to attend, please contact Sandra Waring at Mazars on 01202 680777 or email: [email protected]