finance 33
Accountants’ role in estate planning is on the increase
The evolving role of the accountant as a trusted adviser is prompting a shift in the way they work with business owners on estate planning and protecting families, says chartered accountants and tax advisers HWB
Accountancy is now, more than ever, about being strategic as well as a tax adviser, not a bean counter – especially in the SME market where personal and business finances are inextricably linked. The role demands knowledge and understanding of the full commercial picture of the owner- managed business alongside the personal financial position of its stakeholders.
The accountant has become ideally placed to work with a client to plan the distribution of their estate when they die and protect their assets during their lifetime – and increasingly it is the accountant who now assists in this process.
Alan Williams, HWB director, says: “As strategic business advisers, we work closely with our clients. We understand their aspirations, often personal as well as business. We gain a detailed knowledge and understanding of their businesses, their finances, their assets and their tax position. Helping a client to protect their estate is simply another logical step in that role.
“At HWB, a director works closely with clients at a strategic level, getting to know their plans and offering advice and support across all of their business functions – the result is an invaluable insight into the full
Fully insured specialist barristers accredited with the Bar Standards Board of England and Wales and bound by the LSG Code of Conduct and Quality Standards then draft the necessary documents.
“Having an estate plan which covers every area of a business and personal finances is essential to ensure an estate is distributed the way it’s intended,“ says Williams. “The SME business owner needs protection and clarity as well as families and friends.
financial picture and ongoing added value to the bottom line.
“Working with the Legal Services Guild, we now support clients with a simple, intelligent and integrated approach to estate planning.“
The first stage is to look at the estate and our clients’ objectives. A qualified HWB barrister intermediary delivers bespoke options that ensure protection, clarity and certainty.
Businesses at Daedalus eligible for £1m funding
Businesses on or moving to the Solent Enterprise Zone at Daedalus have received a boost with news that they can now apply for up to £1 million of funding each.
Solent LEP (Local Enterprise Partnership) has reopened its Solent Enterprise Zone Advanced Manufacturing Expansion Fund and has raised the amount that companies can bid for. Previously businesses could bid for up to £200,000 but the bar has now been raised, with companies now able to apply for up to £1m each.
The Fund has been established to support businesses based on
or moving to the Enterprise Zone in Gosport. The £2.793m fund aims to create or safeguard jobs at the zone, which already has a number of benefits in place for companies based there. Business rate discounts, plans for superfast broadband and heavy investment in the site, are just some of the schemes on offer to make the zone an attractive place to do business.
Steve Futter, senior account manager at the Solent LEP, said: “The Solent Enterprise Zone at Daedalus has the potential to become the jewel in the UK’s
advanced manufacturing crown, which is why we are throwing our full support behind the area and giving businesses there access to a number of different grants.
“Businesses in our key sectors on the site have ambitious plans for the future and we are happy to be able to match their ambitions with even more money up for grabs as we reopen the fund.“
Anyone interested in applying to the Solent Enterprise Zone Advanced Manufacturing Expansion Fund should call 023- 9283-4893 or email:
ezexpansion@solentlep.org.uk
Application documents for the Fund can be downloaded at:
www.solentlep.org.uk/ enterprise_zone
Businesses within the Enterprise Zone aren’t the only ones to benefit from access to funding. A similar fund is available for advanced manufacturers across the wider Solent area. The Solent Advanced Manufacturing SME Fund has £3.7m available to SMEs in maritime, defence, aerospace, advanced manufacturing and general services support.
“Most know it is important – but time or cost restraints mean that knowledge isn’t turned into action. Our approach to estate planning delivers a cost-effective and hassle-free solution.“
Details: Alan Williams 023-8046-1201
www.hwb-accountants.com
www.angusthomas.com studio@angusthomas.com
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – OCTOBER 2014
Full Events Service
www.businessmag.co.uk
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