colleagues who are helping to deliver the future we aspire to.”
Headquartered in Colorado, Quantinuum has active engagements with market leaders across pharmaceuticals, material science, financial services, and government and industrial markets.
The company has a global workforce of around 700, including top scientists and researchers. More than 70 per cent of its technology team hold PhDs or Master’s degrees.
According to reports, in May this year it was named among nine quantum technology startups that the Trump administration plans to support through a programme involving up to $2bn in grants and equity investments.
And in June the business announced it
had signed a non-binding Memorandum of Understanding (MOU) with Mitsubishi Electric Corporation, a recognised global leader in the manufacturing, marketing, and sale of electrical and electronic equipment and systems, to establish a framework for a ‘strategic partnership’.
The aim is to accelerate the development of quantum computing applications for advanced industrial engineering and design.
The successful New York listing of Quantinuum will have been noted with interest just down the road from Accrington in Blackburn.
Formal plans for the flotation of EG Group – the petrol forecourt giant founded by Blackburn brothers Mohsin and Zuber Issa – got underway earlier this year, according to reports.
EG Group, about 25 per cent of which is owned by each of the brothers, was said to have held a ‘beauty parade’ of banks in London ahead of a planned $9bn US stock market listing.
The much-anticipated flotation is expected to take place later this year. EG Group, created in Blackburn by the billionaire brothers, has become one of the world’s largest fuel retailing multinationals, expanding its foodservice offering and generating significant profits.
EG Group is roughly 50 per cent-owned by TDR Capital, the London-based private equity firm which also owns a controlling stake in supermarket group Asda.
Expert View PROTECT BUSINESS VALUE THROUGH EARLY
SUCCESSION PLANNING By David Filmer,
Partner and head of corporate, Forbes
Succession planning is critical for SMEs and owner-managed businesses because they often depend heavily on one or two individuals.
Without early planning, businesses may face leadership gaps, disruption to continuity, internal conflict, and damage to stakeholder confidence.
In family businesses the risks are heightened by the potential for disputes and uncertainty over ownership if succession is dictated by inheritance.
Succession planning is often linked to retirement or an eventual sale, but if it is left too late the business may become harder to sell because much of its value may rest in the owner’s personal knowledge, relationships, and operational control.
A failure to transfer this knowledge in time can create a serious knowledge vacuum between the owner and the next senior manager who would be the successor.
Emotional attachment can also delay important decisions, while late planning may result in avoidable tax liabilities and inefficient transfer structures.
Owners should therefore consider inheritance tax and capital gains implications early, alongside the timing of their exit, to achieve the most tax-efficient outcome.
Clear communication is also essential, particularly in family businesses, to reduce the risk of future disputes.
The preferred exit route will usually depend on how the transaction is funded and the tax consequences.
Common options include a company share buyback, a sale to a third party, or a management buy-out.
Whatever structure is chosen, a well- considered succession plan helps preserve stability, maintain value, and protect both the business and the owner’s estate.
LANCASHIREBUSINES SV
IEW.CO.UK
Phil Johnson Payroll associate director
TIME TO PLAN FOR MANDATORY
PAYROLLING Employers are facing a significant change in how Benefits in Kind (BIKs) are taxed, although HMRC has now confirmed mandatory payrolling will be introduced in phases.
From 6 April 2027, mandatory payrolling will apply to company cars, car fuel, vans, van fuel and private medical benefits. Most other benefits will remain under the P11D regime until April 2028.
At first glance, the phased approach may appear to give employers more time to prepare. However, for many businesses, very little has changed. Company vehicles and private medical insurance are among the most common Benefits in Kind, meaning April 2027 remains the key deadline for many employers.
For organisations that provide additional benefits, the phased approach could increase administration. Running payroll for some benefits while continuing to prepare P11Ds for others means operating two reporting systems at the same time. Many employers may find it simpler to voluntarily payroll the remaining benefits, where possible, rather than manage both processes side by side.
Payrolling allows benefits to be taxed in real time through PAYE rather than retrospectively. This helps employees pay the correct tax as they receive the benefit, improving transparency, reducing unexpected tax bills and helping HMRC collect tax more accurately.
Preparing for the change involves more than updating payroll. Employers should review the benefits they provide, ensure accurate valuations, update payroll processes and communicate clearly with employees before the new rules take effect.
At Pierce, we support businesses throughout the transition to mandatory payrolling. Although the timetable has changed, the message remains the same: if you provide company vehicles or private medical insurance, now is the time to prepare.
Contact us to find out more: Tel: 01254 688100
www.pierce.co.uk
enquiries@pierce.co.uk
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Image: Quantinuum
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