Garbutt & Elliott Chartered Accountants & Business Advisors in York, Leeds, Newcastle and Manchester

News Archive

	The Deferred Lease’ Strategy ‘No-one enjoys paying tax, but in recent years Inheritance Tax has proved to be a particularly unpopular charge, and it is easy to see why. Apart from generally being...read more
	“Are you prepared for online filing? If not, we can help!” For accounting periods commencing on or after 1 April 2010 you must file all VAT returns online and pay any VAT declared electronically. This means: You will not receive any paper returns for completion for any period starting on or after 1 April 2010. If you already file VAT returns online, then you must continue to do so and pay VAT electronically from now on. You may be liable to a penalty if you fail to file your return online or meet the deadlines for filing and payment. read more
	“I think I’ve survived the recession...now how do I retain key staff?” A workforce who have sat tight through pay freezes (or cuts), short time working, and witnessed friends and colleagues being made redundant, may begin to develop wanderlust, as and when the recovery picks up speed. Business leaders will need to consider ways to “tie in” key people...read more
	Budget for Recovery...What You Really Need to Know! Capital gains tax was thought by many to be a target for increased rates or reduced reliefs. What we saw was a freezing of rates. So selling an investment asset after 5 April will still attract just 18% tax compared to a new top income tax rate of 50%. Most people’s investment strategies should now be revised to take full advantage of this...read more
	New Budget – more taxes? We can help you save tax! Capital Gains Tax – An Easy Target! It looks very likely that there may be an increase in the capital gains tax rate from either Budget Day or 6 April. The Treasury’s own forecast show a fall in CGT receipts from £7.9 billion to £2.5 billion this year alone. This is bound to lead to increase pressure for a change to try to plug this £5 billion hole...read more
	The Press Family Business of the Year Award 2010 By Craig Manson, Director of Garbutt & Elliott and a specialist family business advisor. Garbutt & Elliott are delighted to sponsor this category for the third year running and look forward once again to...read more
	Garbutt & Elliott meeting to help family businesses It will be a huge family gathering for businesses in Yorkshire. York accountants and advisers from Garbutt & Elliott are holding a meeting next month to help family businesses plan for the future...read more
	Acting now could pay dividends! As you will already be aware from the 6 April 2010 the tax rates for individuals earning over £150,000 will increase to 50%. A number of our family business clients have been looking at the timing of interim or final dividends that are normally paid post 5th April. For some, there is an opportunity of bringing...read more
	Curtain firms on track A North Yorkshire textiles and interiors business has acquired its former sister company to take greater control of its brand as the economy starts to grow. RE Grafton Ltd, Hookstone Park, Harrogate, which trades as James Brindley, has acquired James Brindley (Furnishings) Ltd, Wetherby – a totally separate business - for “a significant but undisclosed sum... read more
	Ex-Thorntons boss lifts the lid on family firms A businessman who headed up one of Britain’s greatest family ventures will impart his knowledge to the family businesses of York and North Yorkshire. Peter Thornton, the former chairman of Thorntons chocolates will be the guest speaker at a meeting for Family Business organised by chartered accountants Garbutt & Elliott...read more
	Date to help keep it all in the family Members of family businesses throughout York and North Yorkshire will converge on Hazlewood Castle, near Tadcaster, on December 8...read more
	Results of the National Family Business Survey Following the success of Garbutt & Elliott’s regional Family Business Survey last year, The International Centre for Families in Business extended the Garbutt & Elliott survey nationally. For a PDF copy of the results of the full survey click here
	Enter your Family Business for The Press Business Awards 2009 Once again Garbutt & Elliott are sponsors of the Press Business Awards 2009, and for the second year running we are sponsoring the Family Business of the Year category. Entering the awards is an excellent opportunity to promote and celebrate the achievements of your Family Business...read more
	Firm's Award for Taking the Family into Account Three senior directors of leading Yorkshire accountants Garbutt & Elliott, who sponsored the Press Family Business of the Year Award, have successfully completed a two-year post-graduate course in Family Business...read more
	Garbutt & Elliott Sponsor Family Business of the Year Award David Dickson, Chairman of Garbutt & Elliott introduces this brand new category for the York Press Awards 2008...read more
	Garbutt & Elliott Family Business Survey Results To download a PDF copy of the results of the large scale survey of Family Businesses in Yorkshire carried out by Garbutt & Elliott click here
	Residential Property Letting With the Pre Budget Report still fresh in our consciousness, it is clear that there is a big gap in the Treasury’s finances. Whilst the coming hike in National Insurance will not affect income from lettings, it is hard to see where the tax grab will end, if spending is not to be reined in...read more
	The Deferred Lease’ Strategy ‘No-one enjoys paying tax, but in recent years Inheritance Tax has proved to be a particularly unpopular charge, and it is easy to see why. Apart from generally being...read more
	What the television property programmes don’t tell you Lets consider the situation where someone who is not trading as a property developer, acquires residential property and at a later date, perhaps after a programme of improvement works, sells at a profit...read more
	Keep the Taxman’s hands off your business premises !! There is a well-known saying that there are no certainties in life except “death & taxes” – unfortunately where these come together...read more
	Free workshops to aid new companies A series of free workshops in York to help new businesses make money and be successful have been organised by chartered accountants Garbutt & Elliott. The award-winning accountants have secured Government funding for the workshops...read more
	Curtain firms on track A North Yorkshire textiles and interiors business has acquired its former sister company to take greater control of its brand as the economy starts to grow. RE Grafton Ltd, Hookstone Park, Harrogate, which trades as James Brindley, has acquired James Brindley (Furnishings) Ltd, Wetherby – a totally separate business - for “a significant but undisclosed sum... read more
	Guaranteed solution to finance for small firms Smaller businesses in York and North East Yorkshire are being urged to take advantage of the Government’s Enterprise Finance Guarantee. Experts at York chartered accountancy firm Garbutt & Elliott believe the guarantee, which has been extended for a further 12 months, could prove the answer for the region’s small and medium-sized enterprises (SMEs) facing problems getting finance...read more
	Advisor’s Role Vital for Funding This column is the third of a series aimed at providing businesses with an awareness of sources of funding and financial support and how to access it...read more
	Access to Finance Last month I outlined the Enterprise Finance Guarantee scheme, a £1.3 billion loan guarantee scheme being delivered through the banks, which provides a...read more
	SPECIALIST INDUSTRIAL HOSE SUPPLIER SOLD IN YORKSHIRE DEAL Garbutt & Elliott have advised in both the sale and acquisition of a leading distributor of specialist hoses and pneumatic control systems by its founders and sole shareholders....read more
	Print Entrepreneurs Acquire Printing Firm in Seven-figure Deal Two successful print entrepreneurs have bought a £4.5m turnover South Yorkshire printer Wright Printing Services (WPS) Ltd...read more

	Glass Manufacturing Specialist in MBO A York manufacturing company that makes hot glass handling machinery for the bottling industry has been acquired in a seven-figure MBO backed by Alliance & Leicester Commercial Bank and Royal Bank of Scotland Invoice Finance...read more


	Family Business sold to the Next Generation NEW owners are in the frame at a North Yorkshire joinery company, which has been sold to three of its staff...read more
	Doing Business in the EU – VAT A taxpayer delivered goods (free of VAT) to his customer in another member state of the EU without establishing that the customer was registered for VAT...read more
	Garbutt & Elliott becomes a Limited Liability Partnership (LLP) from 1 July 2009 As business advisors we help our clients decide on the best and most appropriate trading structure for their businesses on a daily basis...read more
	Garbutt & Elliott meeting to help family businesses It will be a huge family gathering for businesses in Yorkshire. York accountants and advisers from Garbutt & Elliott are holding a meeting next month to help family businesses plan for the future...read more
	Free workshops to aid new companies A series of free workshops in York to help new businesses make money and be successful have been organised by chartered accountants Garbutt & Elliott. The award-winning accountants have secured Government funding for the workshops...read more
	Taxing Times Advice on How to Rent Out a Room While Shutting Out the Taxman By David King Tax Consultant There are tax breaks for those deriving a rental income from letting a room in their own home...read more
	Duncan Meredith – examines the regional effects of the Budget This was always likely to be a “tax and not spend Budget” and that will be the painful reality over the next few years, whatever colour of Government we get after the imminent election...read more
	The diagnosis that changed one man’s outlook on life and work This profile appeared in the Yorkshire Post on Tuesday, 16 March, 2010. Four years ago, David Dickson, chairman of Garbutt and Elliott was struck with cancer. He tells Lizzie Murphy of Yorkshire Post News why he is now determined to live life to the full. David Dickson looks me in the eye across the meeting room table where we are sitting. “When you go through a process where you think, ‘I could have been dead...read more
	Curtain firms on track A North Yorkshire textiles and interiors business has acquired its former sister company to take greater control of its brand as the economy starts to grow. RE Grafton Ltd, Hookstone Park, Harrogate, which trades as James Brindley, has acquired James Brindley (Furnishings) Ltd, Wetherby – a totally separate business - for “a significant but undisclosed sum... read more
	Share option to keep key ‘wanderlust’ staff Businesses seeking to keep key staff who may develop a “wanderlust” as the economy recovers should consider tax-advantaged share options, according to a Yorkshire-based tax expert. Staff who have endured pay cuts may decide to leave when the economy improves. Nick Davies, a senior tax consultant at the Leeds office of independent accountants and business and advisers...read more
	Guaranteed solution to finance for small firms Smaller businesses in York and North East Yorkshire are being urged to take advantage of the Government’s Enterprise Finance Guarantee. Experts at York chartered accountancy firm Garbutt & Elliott believe the guarantee, which has been extended for a further 12 months, could prove the answer for the region’s small and medium-sized enterprises (SMEs) facing problems getting finance...read more
	Hi-tech Boost Adrian Widdowson, associate tax director of Garbutt & Elliott, examines how Chancellor Alistair Darling’s Pre-Budget Report is likely to affect York and North and East Yorkshire. Hi-tech firms in Science City York can celebrate at being among the few sectors that apparently will benefit from Chancellor Alistair Darling’s Pre-Budget Report...read more
	Ex-Thorntons boss lifts the lid on family firms A businessman who headed up one of Britain’s greatest family ventures will impart his knowledge to the family businesses of York and North Yorkshire. Peter Thornton, the former chairman of Thorntons chocolates will be the guest speaker at a meeting for Family Business organised by chartered accountants Garbutt & Elliott...read more
	How to avoid losing money down the generation gap It is now a fairly common scenario for a property to be occupied, on either a temporary or permanent basis, by a relative of the legal owner...read more
	Date to help keep it all in the family Members of family businesses throughout York and North Yorkshire will converge on Hazlewood Castle, near Tadcaster, on December 8...read more
	Relationship Between Banks and SMEs must be Nurtured The relationship between banks and their small-to-medium-sized business clients must be nurtured if the economic recovery is to gather pace, according to leading Yorkshire accountants...read more
	Advisor’s Role Vital for Funding This column is the third of a series aimed at providing businesses with an awareness of sources of funding and financial support and how to access it...read more
	The Deferred Lease’ Strategy ‘No-one enjoys paying tax, but in recent years Inheritance Tax has proved to be a particularly unpopular charge, and it is easy to see why. Apart from generally being...read more
	Access to Finance Last month I outlined the Enterprise Finance Guarantee scheme, a £1.3 billion loan guarantee scheme being delivered through the banks, which provides a...read more
	What the television property programmes don’t tell you Lets consider the situation where someone who is not trading as a property developer, acquires residential property and at a later date, perhaps after a programme of improvement works, sells at a profit...read more
	Keep the Taxman’s hands off your business premises !! There is a well-known saying that there are no certainties in life except “death & taxes” – unfortunately where these come together...read more
	Workshops at Monks Cross, York to Offer Advice on Accessing Government Funding How to unlock access by businesses to Government funding will again be the theme of a workshop organised by York chartered accountants Garbutt & Elliott...read more
	VAT Changes with effect from 1st April 2009 HMRC have announced a number of changes in relation to VAT, each effective from 1st April 2009. These changes are summarised below...read more
	SPECIALIST INDUSTRIAL HOSE SUPPLIER SOLD IN YORKSHIRE DEAL Garbutt & Elliott have advised in both the sale and acquisition of a leading distributor of specialist hoses and pneumatic control systems by its founders and sole shareholders....read more
	Jane Roffey, VAT Consultant, summarises the VAT implications from the Chancellors Pre-Budget Report In the Pre-Budget Report the Chancellor announced a reduction in the standard rate of VAT. The revised rate of 15% will take effect from 1st December 2008 and run until 31st December 2009...read more
	Backer for Ilkley Open Independent accountancy firm Garbutt & Elliott, who have offices in Leeds and York, have been named as a key sponsor of the JM Glendinning Group Ilkley Open International Tournament...read more
	Budget changes to tax treatment of holiday lettings Last month’s Budget hit the headlines with the proposed 50% rate of Income Tax for higher earners and the car scrappage scheme...read more
	Budget Commentary Adrian Widdowson, associate tax director at chartered accountants Garbutt & Elliott of York takes a regional view at the Chancellor’s bid to repair the country’s finances...read more
	Loan advice for Yorkshire firms Businesses are struggling to access funding from the Government’s guaranteed lending initiative, according to York accountants Garbutt & Elliott... read more
	The position regarding relief against tax for capital expenditure can be confusing, and depends on the nature of the letting. For this purpose we can effectively allocate property lettings into one of four categories...read more
	Know tax guidelines or you could inherit real problemsThere was a recent interesting exchange in Parliament regarding the ongoing problems that Executors and others have in paying Inheritance Tax principally on properties that are currently unsaleable...read more

	Garbutt & Elliott Sponsor Family Business of the Year Award David Dickson, Chairman of Garbutt & Elliott introduces this brand new category for the York Press Awards 2008...read more
	Happy Families in Business Family businesses in Yorkshire are generally in good health and positive about the future, according to a new survey...read more
	Access to Finance Last month I outlined the Enterprise Finance Guarantee scheme, a £1.3 billion loan guarantee scheme being delivered through the banks, which provides a...read more
	How are the North's family businesses faring? That will be the subject of a detailed survey being carried out by York-based chartered accountants and business advisers...read more
	Family Business sold to the Next Generation NEW owners are in the frame at a North Yorkshire joinery company, which has been sold to three of its staff...read more
	Garbutt & Elliott Corporate Finance Team Expands Laura Howes joins the Garbutt & Elliott Corporate Finance team as a Corporate Finance Executive...read more

	York Expertise Secures Buyout Two major professional services firms in York have played a crucial role in securing the successful future of CSE International, the specialist safety and quality control consultants to the transportation industry...read more
	Shiny new start for Stainless business Leeds based leading independent stainless steel product manufacturer and distributor Pland Stainless Ltd is acquired via a Management Buyout...read more

	Fabricant Management Buy In Dan Gartland, MD of Loadstone Ltd, has led a management buy in (MBI) of curtain accessories business Fabricant...read more
	The Ideal Opportunity to Save Tax on that Second Property The current economic climate paints a pretty depressing picture for property prices and statistics published by the Nationwide suggest...read more

	Inheritance Tax Planning & The Family Home Robert Peel, Senior Tax Consultant at Garbutt & Elliott, looks at the recent changes to Inheritance Tax legislation in relation to tax planning for the family home...read more
	Mr Bean’s Visit Underlines ‘Economic Significance’ York is still an economic power-house of the North of England. That is the view of the city’s ancient Company of Merchant Adventurers in the wake of the visit to the city by Charles Bean, Deputy Governor of the Bank of England...read more
	Get rental incomes in order in case the tax man comes knocking The receipt of rent from a property is taxable income and there is a requirement to declare this income to the Revenue on a timely basis...read more
	Sage 50 Update Sage have recently released Sage 50 2009. Some of the key new features are...read more
	The Companies Act 2006 Martin Poole, Business Advisory Manager, takes us step by step through The Companies Act 2006 changes that came into effect from 6 April 2008...read more
	New Management Team at Garbutt & Elliott York & Leeds based Chartered Accountants; Garbutt & Elliott have appointed a Chairman and new Managing Director. David Dickson will pass on the reins of Managing Director to Russell Turner to become Chairman of The Board at Garbutt & Elliott...read more

	Dedicated VAT expert joins G&E Garbutt & Elliott chartered accountancy firm has recruited a dedicated VAT expert, with 25 years experience in her field...read more

	Know the rules on holiday lets or you could be paying the price Amid the forecasts of impending recession and spiralling inflation, the economic downturn continues to put pressure on the property market, including the buy-to-let sector...read more

	Print Entrepreneurs Acquire Printing Firm in Seven-figure Deal Two successful print entrepreneurs have bought a £4.5m turnover South Yorkshire printer Wright Printing Services (WPS) Ltd...read more

	Glass Manufacturing Specialist in MBO A York manufacturing company that makes hot glass handling machinery for the bottling industry has been acquired in a seven-figure MBO backed by Alliance & Leicester Commercial Bank and Royal Bank of Scotland Invoice Finance...read more

	Driving Down Tax In a former life Ray Cadman was a Tax Inspector, specialising in serious tax investigations. He saw the light in the late Eighties...read more

	Car fuel benefit - Are you being overtaxed? If you are provided with a company car by your employer you may also have your private fuel provided with it...read more

	Chairman David Dickson Looks Ahead to 2009 Many people have been taken by surprise at the speed of events leading to the downturn in the economy, particularly in the last quarter of 2008. All of our clients are affected in some way but hopefully these times do produce new opportunities along with their challenges. So how can we help at Garbutt & Elliott?...read more

	Corporate Finance Seminars - Opportunities for Buying & Selling Businesses in a Challenging Market Following the success of last year's Corporate Finance Seminars we will be running further presentations in February and March 2009...read more

	Exit Planning in the Current Financial Climate Corporate Finance Director, Jeremy Oliver, addresses some recently posed queries on exit planning for business owners in the current financial and economic climate...read more

	Access to Funding for New and Early Stage Businesses Garbutt & Elliott have access to funding for certain new and early stage businesses...read more


	Jane Roffey, In-house VAT Consultant looks at the following VAT Issues Land, property and Construction VAT - topical VAT issues...read more Interest on Voluntary Disclosures...read more VAT on discounts – a case study from a veterinary practice...read more When is a grant not a grant?...read more

	The Ideal Opportunity to Save Tax on that Second Property The current economic climate paints a pretty depressing picture for property prices and statistics published by the Nationwide suggest...read more

	Family Business Update Family business specialist, Craig Manson, Director, discusses some of the issues facing family businesses as we approach 2009...read more

	Outsourcing for Profit - A Good Time to Review... Sue Reid, Director, recommends that clients review their current position...read more

Client Features:

	Venturefest Yorkshire – February 11 2009 Martin Poole talks about his role on behalf of Garbutt & Elliott within Venturefest Yorkshire and how the role of the accountant is not just about numbers...read more

	Client’s Daughter Represents England Rugby League in Australia Congratulations to the Daughter of long-standing Garbutt & Elliott client Phil Welsby, whose daughter Jenny was selected to play for England in the Rugby League World Cup...read more

Venturefest Yorkshire News
For five years Venturefest Yorkshire has showcased the region’s finest science, technology and knowledge entrepreneurs...read more

Garbutt & Elliott 'Say You Dare!' - Thank you
Garbutt & Elliott were delighted to support the St Leonard's Hospice business challenge event, 'Say You Dare!', for the second year running...read more

New Chairman & Managing Director
York & Leeds based Chartered Accountants; Garbutt & Elliott have appointed a Chairman and new Managing Director...read more

Long term it’s not all doom and gloom for property market
There is much doom and gloom about the property market, and residential property in particular, at the moment....read more

Renting a property can be very taxing
There are various taxes that are likely to be encountered by the owners of letting rented property...read more

Latest News Update

	Welcome to our latest news update. We are committed to providing clients with the best possible business and tax advice and this newsletter contains a range of articles designed to be helpful to you and your business. I am pleased to announce our dedication to excellent client care has again been recognised this year, with a further Customer First accreditation. As Managing Director I am always interested to hear all your feedback so please do not hesitate to contact me at rturner@garbutt-elliott.co.uk with your thoughts. Finally, I would like to wish you all the best for the festive season and a prosperous 2010. Russell Turner Managing Director

	I think I have survived the recession... now what? By Richard Green, Director There are conflicting views as to whether we have seen the end of the 'credit crunch'. What is apparent is that every business has been affected in different ways and those that survive have very different challenges ahead of them in the medium term. We have all learned things about ourselves, the people we work with on a daily basis and others who interact with our business at varying times throughout the year. But what are the issues we should be looking at for now and the future to ensure we have a business that continues to survive, prosper and provide everyone within the business with their reward. Read more

	Latest Tax News By Nick Scull, Director I am delighted to welcome Andrew Cowe, Nick Davies and Samantha Spinks to the tax team read more Many of you will have received a copy of our latest tax newsletter through the post, which contains a number of useful tax saving ideas. In addition a PDF copy is available to view here. To view the latest news on the pre-budget report click here

	Family Business National Survey By Craig Manson, Director Following the success of Garbutt & Elliott's regional Family Business Survey last year, The International Centre for Families in Business extended the Garbutt & Elliott survey nationally. For a PDF copy of the results of the full survey click here.

	Service addresses for Directors and Company Secretaries By Alan Sidebottom, Director Company Directors and Secretaries can now choose to use a "service address" to be shown on the public register at Companies House. Previously this has only been allowed for persons for whom such a disclosure in the general domain could give rise to a risk to them – such as certain former servicemen. Read more

	Yorkshire Gold Business Club – collaborating to win new contracts By Martin Poole, Client Relationship Manager The objective of the Yorkshire Gold Business Club (YGBC) is to support Yorkshire businesses take opportunities outside the region, in particularly contracts available as part of the 2012 Olympics. Before you stop reading thinking you can't possibly get involved with building a new stadium or supplying all the bats and balls needed, this is where YGBC steps in. Read more

	Could you qualify for a rural grant? By Jeremy Oliver, Director The Rural Development Programme for England (RDPE) is investing £63m in retaining, growing and attracting businesses which sustain rural communities—and you could be eligible for funding. Around 80% of our region is rural, so it's vital that new and existing businesses outside of our towns and cities get the support they need to grow and succeed. Read more

	Join us at Venturefest 2010 As official sponsors of Venturefest Yorkshire, we have encouraged anyone with an interest in technology and innovation to get involved since its inception seven years ago. Read more

	Black is the new Blue Please be aware that various government departments will now reject documents unless they are signed in black ink! For those of you who always write in blue this may mean a trip to the stationery shop.

	Recently Qualified Staff Congratulations to Catherine Harrison, George Hickman and Chris Woodroffe who recently passed their final exams to become qualified accountants.

	Jane Tomlinson 10K Well done to the teams across our Leeds and York offices who took part in the Jane Tomlinson 10K, raising £625 for the appeal.

Venture fest News

Venturefest Yorkshire 2010 –what is it all about?

As Silver Sponsors of Venturefest Yorkshire, we invite you to join us at the eighth annual event being held on Wednesday 10 February 2010 at York Racecourse.

The event is a 16 hour buzz of activity, promoting technology and innovation in the Yorkshire region, through presentations, workshops and exhibition zones, over six floors. This year’s key note speaker is Bill Liao the Australian entrepreneur and philanthropist and co-founder of the social network service XING.

Garbutt & Elliott are exhibiting on Stand 6 in the main exhibition area and we would be delighted to see you during the day - come and try our fun prize challenge!

For more details and to register for this FREE event visit the event website at www.venturefestyorkshire.net

	Copyright © 2003-2009 Garbutt & Elliott LLP. All rights reserved. General Information, questions or comments about this website: info@garbutt-elliott.co.uk \| Site Map \| Privacy Policy