Celebrating 35 years of Warrener Stewart!

07 February 2017 • Warrener Stewart News

For Warrener Stewart, the year 1982 heralded the start of their successful chartered accountancy practice. In a year that was filled with space travel, the collapse of Laker Airways and, most notably, the Falklands War, chartered accountant Peter Warrener started Warrener & Co in South East London. His intention was to develop an accountancy practice which would provide a highly professional, yet affordable service to the local business community, a need he had identified as sadly lacking.

Now, 35 years on and having moved West to Fulham, the business has grown and matured, much in keeping with the original vision, yet has remained true to its founding principles of providing excellent standards of professional and personal service to meet the needs and budgets of private clients and their businesses. The Firm covers all aspects of accountancy and tax services and gives intelligent business advice. It can count 28 staff at present and has served more than 4,000 clients over the last three and a half decades.

Reminiscing, joint managing director Nick Morgan recounts, “Thirty-five years ago, on 2nd February Peter Warrener started the business. In those intervening years, a lot of water has gone under the bridge, yet there are still a good number of us around who can remember the early years, contributing more than 200 years combined service. That’s an awful lot of tax returns! Everyone should be very proud of this significant achievement.”

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The current directors of Warrener Stewart: (l-r): Jon Last, Colin Edney, Gary Chapman, Nick Morgan and Damian Talbot.

Wishing you a Merry Christmas

22 December 2016 •

The offices will be closed during the Christmas week until 3rd January 2017.

We hope you have a prosperous New Year.

This year instead of sending cards we have made a donation to St Mungo's Broadway, who work to tackle the causes of homelessness.

Warrener Stewart deliver a presentation on property tax developments to estate agency client

12 December 2016 •

There have been many recent changes to property tax law; to help leading luxury real estate agent, Engel & Völkers’ staff appreciate how these changes could affect their clients, Warrener Stewart recently visited their offices on the Brompton Road.

The presentation, “The Evolution of Property Tax Planning” was delivered by Warrener Stewart’s tax director, Damian Talbot, and tax consultant, Felicity Butler. Two of Engel & Völkers’ management team attended Warrener Stewart’s event earlier in September and were keen to share this knowledge with their staff.

“We have had some very positive feedback from the delegates who came to listen to our presentation at Chelsea Football Stadium,” commented Damian Talbot. “Some of our clients, like Engel & Völkers, suggested holding joint marketing events involving their staff and/or clients. At Warrener Stewart, we are keen to try to think differently from traditional tax advisory firms and welcome any opportunity to organise joint marketing events with our clients.”

Engel & Völkers, established in 1977 in Hamburg, is the world leader in luxury real estate with 700 branded offices in 37 countries with more than 3,800 employees. Following his presentation to their staff, Damian said, “I was very impressed by the consultants and members of the management team I spoke to who had a real sense of commitment to their clients and how the tax legislation affects them.”

Anyone who is interested in hosting a joint marketing event or would like to arrange a presentation for their staff on “The Evolution of Property Tax Planning” should contact Warrener Stewart’s tax team on 020 7731 6163. 

2016 Autumn Statement Highlights

23 November 2016 •

Today’s Autumn Statement introduced very few new measures to the tax code. Here is a review of the headline announcements - and a reminder of the measures coming in from April 2017 and April 2018 are also highlighted below.

Measures introduced from April 2017

Income tax

The annual personal allowance is to increase to £11,500 from April 2017.

Employment taxation

From April 2017 salary sacrifice schemes will no longer be available.  Existing arrangements will be protected until April 2018 with some particular schemes being protected until April 2021.

These changes do not affect salary sacrifice schemes in place for Pensions, Childcare, Cycle to Work and ultra-low emission cars.

The National Insurance thresholds for Employers and Employees will be aligned from April 2017 so that Class 1 NICs become due on earnings in excess of £157pw.

Employee Shareholder Status (“ESS”) arrangements entered into after 1 December 2016 will not receive the favourable tax advantages previously available.

Property taxation

As previously announced a restriction on the tax-deductibility of mortgage interest payments for private landlords will be introduced from April 2017 and is to be phased in over four tax years up to 2020/21.

Savings

The ISA limit is to increase to £20,000 from April 2017.  In addition, the new Lifetime ISA is to be introduced for adults under 40 at 6 April 2017. Individuals will be able to save up to £4,000 per annum and receive a 25% bonus from the Government up to the age of 50.

Corporation Tax 

The corporation tax rate is set to fall to 19% from April 2017 onwards. In addition, new measures will come into effect from April 2017 onwards applicable to large corporations (i.e. those with profits in excess of £5M per year), restricting the deductibility of losses from earlier years and also the deductibility of interest costs that are allowable. 

Value Added Tax

A new 16.5% rate will be introduced to the VAT flat rate scheme from 1 April 2017 for those businesses with limited costs.

Non-UK Domiciliaries

As previously announced, from April 2017 long term UK residents who are not domiciled in the UK will assume a deemed UK domicile for Inheritance Tax purposes if they are resident in the UK for 15 of the last 20 years.

Inheritance Tax will also be charged on non-UK domiciled individuals who hold UK residential property indirectly through an offshore structure, such as a company or Trust.

Proposed measures from April 2018

Employment

It is proposed that from April 2018, Employers National Insurance contributions will be payable on termination payments where the amount exceeds £30,000.

National Insurance

From 2018, Class 2 NIC for self-employed will be abolished. There will be a consultation regarding voluntary Class 3 contributions and Class 4 NIC, which are paid by the self-employed, to consider how to build entitlement to the State Pension and other contributory benefits which used to be covered by the payment of Class 2 contributions.
 

If you would like to explore what the Autumn Statement could mean for you and your business, please call 020 7731 6163 to talk to one of our tax team. 

A Distinct Advantage for Warrener Stewart’s tax advisors

18 November 2016 •

Fulham based accountancy firm Warrener Stewart’s tax team now has three more qualified tax technicians following the success of their graduate tax trainees; Felicity Butler, Freddie Hollom and Ryan O’Connor in passing their Association of Taxation Technicians (ATT) exams.

Following the latest round of ATT exams taken in May, Felicity Butler, passed both her final two papers with distinction. Out of the 1,878 candidates sitting the exams only 3% achieved a distinction for exceptional performance. Felicity has now passed all the qualifications needed to become a member of the ATT.

Having completed their final tax assessments in September 2016 and fulfilling the time criteria, fellow colleagues and tax technicians, Freddie Hollom and Ryan O’Connor, have also qualified  as members of the ATT.

“We are very pleased that our tax students have successfully passed their exams,” commented Damian Talbot, head of the tax department at Warrener Stewart, adding “and we are delighted that Felicity excelled in these final papers achieving a well-earned distinction, congratulations to them all!”

A new generation of accountants and tax advisors start their careers with Warrener Stewart

02 November 2016 • Warrener Stewart News

Warrener Stewart has welcomed four new recruits to their Fulham accountancy practice. Charlotte Northmore and James Shepherd join auditing and accounting, whilst Ellie Scanlan and Catherine Findlay are the latest additions to the tax team.

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(Pictured l-r: Charlotte Northmore, Catherine Findlay, James Shepherd and Ellie Scanlan)

For the three girls, this is their first job since graduating, having joined Warrener Stewart’s graduate trainee programme This provides them with an opportunity to gain valuable on-the–job training whilst undertaking their professional studies. Charlotte, who studied Accounting whilst at Kingston University, was keen to join a medium size accountancy practice to gain wider experience before qualifying as a Chartered Accountant.

Both the two new tax recruits, Ellie and Catherine, studied humanities based degrees; Ellie took a degree in History and Politics at Queen Mary, whilst Catherine studied International Relations and Politics at Richmond International University.

As for James, he joins Warrener Stewart as a qualified accountant following a four-year ACCA training programme with PwC whilst based in Guernsey. James takes up the position of assistant manager, working alongside the Principals to help small and medium sized enterprises develop and grow their businesses.

Commenting on the new recruits, Colin Edney, joint managing director said, “We are delighted to welcome four new arrivals to the team, all of whom appreciate that at Warrener Stewart we have a more in depth way of working alongside our clients. On the accountancy side Charlotte and James will provide a vital support role undertaking many of the technical aspects of auditing.

Equally, Ellie and Catherine will be a great support to the tax team. Their degrees have taught them keen analytical skills. These will prove invaluable when they are analysing complex information to allow the team to offer tax advice to businesses and private clients.”

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“Warrener Stewart understands our business; they give us more than any other Accountancy service we have ever received in the past. They are extremely commercially aware and very current when it comes to changes in tax policy. ”
Diana Hoare - Anderson Hoare