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Northern Society of Chartered Accountants

At the heart of northern business since 1882

General Practitioners Quarterly Meeting – CABA update

A quarterly meeting for small & sole practitioners.

Event information

We will be joined by CABAs representatives who will update members on the well being and resilience resources that are available to members and their families.

Join our quarterly roundtable discussion group for small practice or sole practitioners working across the Northern region. The discussion topics have been suggested by members in practice. At each meeting we will get a general update from your ICAEW Practice Committee (IPC) Representative Geoff Little.

Cost
Rate Cost
ICAEW Member No Charge
Programme
Time Session
12:30 Welcome
12:35 Update from IPC Rep – Geoff Little
12:45 Speaker
13:15  General discussion, sharing of best practice, networking
14:00 Close

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Retired members virtual visit to Beamish Museum

We are delighted to invite our retired members to join us for a further virtual tour of Beamish the living museum of the North.

Beamish is an open air museum located at Beamish, near the Town of Stanley in County Durham, England.The museum’s guiding principle is to perserve an example of everyday life in urban & rural North East, England at the climax of Industrialisation in the early 20th century.

Event information

Our March meeting will see a tour of the 1900s Pit Village, showing a colliery community at the time of Peak Coal production in the North East.

Garage, cars, motorcycles and bikes and cycle works, which are a replica of a typical early 1900s garage.

Co-op Store, grocery, drapery and hardware departments, which was moved from Annfield Plain in County Durham.

Town see how families lived and worked in the years leading up to the First World War.

Pit Village, the Francis Street cottages came to Beamish from Hetton-le-Hole, on Wearside, and were orginally built in the early 1860s by Hetton Coal Company. Six of the original row of 27 homes were moved to the museum in 1976 and rebuilt in the Pit Village.

Whilst this event is predominatly for retired members, if other members wish to attend then you are very welcome to come along.

Tour to cover Pit Village, showing a colliery community.

Speaker

Simon Woolley, Head of Learning at Beamish, The Living Museum of the North.

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Pensions & other year end tax planning

Northern Society of Chartered Accountants www.norsca.co.uk

This course will look at the world of pensions to see how they impact upon clients, especially in the area of retirement and estate planning.

With people living to a much greater age, various governments, to try to encourage people to save for the future, changed the pensions’ regime dramatically in 2006 and have played around with it incessantly thereafter.

Event information

So the system remains horrendously complex but the rules present many opportunities. The course will look at the world of pensions to see how they impact upon clients especially in the area of retirement and estate planning. It is not a financial services course and will not be dealing with products from a financial services aspect but will be looking at how the latest available products can assist the tax planner!

We are also going to have to deal with the delayed Budget – will this start to raise taxes to pay for the massive borrowings caused by Covid?
So we need to have a look apart from Pension Contributions at what is feasible to do before 5 April 2021

Content

  • Contributions – quantum and pitfalls – Lifetime limits, Annual Allowances, Employer contributions – a quick reminder – why should we make a contribution now?
  • Planning advice – not just registered pension schemes;
    • What else can you save into that could be tax efficient? What about Cash rich companies…. How is BADR and BPR developing alongside pensions;
    • Why spend your pension when you could spend your ISAs?
    • Third party contributions;
    • Capital Tax planning in the light of the changes – is it more counter intuitive than you think?
  • Other Year End Planning including looking at:
    • Cash extraction,
    • Tax efficient benefits,
    • Is there any thing we need to do on loss relief?

Who should attend:
Partners and staff involved in the provision of advice to clients particularly in the area of estate planning and related items.

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Later Life Tax

Drawing on the experience of our two speakers – Rebecca Benneyworth and Karen Barwick – the aim of this course is to provide tips for those key moments which can require careful tax planning and financial arrangements as clients start to contemplate their business exit and retirement.

This half day on-line course will benefit partners, manager and other members of staff who need to give tax and financial planning advice to business and personal clients.  A reasonable tax knowledge is assumed.

Our two speakers will cover:

  • Differences between Enduring and Lasting Powers of Attorney;
  • Risks associated if you do not make a will;
  • Vulnerable client policy;
  • Different routes to care funding and pitfalls to avoid;
  • Capital gains tax issues – private residence relief; maintaining the relief; gifts of assets; business asset disposals;
  • Income tax issues – pre-owned asset charge (a refresher); other income tax issues;
  • Inheritance tax – implications of financial plans; residential nil rate band and downsizing relief.

Cost

Rate Cost
Member £90 (plus VAT)
Retired member £45 (plus VAT)
Career break member £45 (plus VAT)

There is a discount available of one third off prices on all NorSCA virtual CPD until 31 December – it will be applied automatically when you “check out”.

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Making tax digital update

Rebecca Benneyworth has been an advocate of MTD since the consultation period in 2016 and remains keen to ensure that as many smaller firms and businesses as possible take advantage of these changes.

This session is an essential update for anyone working practice in accounts or tax as Rebecca will give delegates a clear idea of what processes they will need to adopt to serve clients in a completely new reporting environment. It would also be suitable for those working in business, although there is little detail as yet on plans for corporation tax.

This session will look at the July 2020 announcements from HMRC in regard to the process not only of the MTD project, but to what might develop with personal and business tax accounts over the next few years. It will cover the current requirements for VAT as a refresher, picking the tricky areas, and then move to the meat of developments to come through to 2023 when we shall see full mandation for income tax.

Content will include:

  • MTD for VAT requirements – a brief refresher; tricky practical areas
  • April 2021 developments – full digital links in place – how to achieve this
  • April 2022 developments – everyone in for VAT! Dealing with very small businesses. To deregister or not?
  • Income tax self assessment – the timeline. 2023 mandation – who will it affect? What will be needed? How will the mechanics work? What about very small businesses? Landlords and holiday lets.
  • Corporation tax plans and proposals
  • Where to with digital tax accounts?

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Northern Society of Chartered Accountants AGM

Meet the members on the committee, find out what is planned.

Notice is given that the 138th AGM of the Northern Society of Chartered Accountants will take place on 22 September 2020, at 12:45, virtually.

Event information

Agenda

1. Notice of meeting

2. Welcome by the president

3. Apologies

4. Deceased members

5. To receive and, if thought fit, approve the: minutes of the 137th annual general meeting held on Thursday, 30 May 2019

6. Review of the year by the president – including:

To receive and, if thought fit, approve the: annual report and accounts for the year ended 31 December 2019 (including the Report of the Independent Reporting Accountant)

7. Election of committee members under the provisions of rule 13(a)

One member of the committee appointed under rule 6(a), if any, shall retire from office. The member to retire each year shall be the one who has been longest in office since his last election.

Nominations may be received from members for the vacancies on the committee which occur and shall be deposited with the Honorary Secretary at least seven clear days before the annual meeting. Nominations should be forwarded to Joanne Lucking.

8. Election of the Independent Reporting Accountant under the provisions of Rule 13(c)

9. Any other business

Michael Jeffrey
Hon Secretary

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Pandemic Perspectives – PD Ports

Hear from business leaders on how they and their businesses have adapted during the COVID-19 pandemic.

Join Northern Society of Chartered Accountants for an informal chat with Jon Armstrong, PD Ports, on how they have been impacted in different ways by the unfolding crisis of the last few months and hear them provide their unique perspectives on the pandemic.

Event information

This session with Jon Armstrong, PD Ports, will focus on how Teesport has had to adapt including the import and export of goods into the region.

Every few weeks a different speaker from a different key business across the Northern Society area will be interviewed and invited to talk about how the COVID19 pandemic has affected them. Unique insight and perspective will be given as they spend half an hour giving their reflections on the changes that they have witnessed and helped shape since the start of the year, both from an organisational and a personal point of view across the business as a whole.

We’ll also hear how business models have been forced to adapt and which new skills have had to be rapidly learned as the businesses have evolved

The interviews will cover businesses across different sectors including: Metnor Construction, Greggs, Venator, Tyne Theatre & Opera House and PD Ports and more.

About Jon Armstrong BSc ACA PD Ports

PD Ports one of the UK’s major port groups, operating in 13 locations across the country, connecting business and cargo with key global markets.

The companies ethos is built on creating trusted, long-lasting partnerships that allow them to understand customers and their unique requirements. They aim to be a seamless extension of business, providing in-depth knowledge and time-served experience to improve supply chains.

Throughout Their history, They’ve earned a reputation for being a reliable, safe pair of hands – a business that will be there when it’s needed and get the job done. There’re forward thinking and innovative, always going the extra mile to ensure what there’re offering is what their customers require.

Underpinning all work is health and safety. It’s at the heart of their work and number one priority. PD Ports commitment to health and safety has been recognised for the past two years by the internationally recognised RoSPA (Royal Society for the Prevention of Accidents) awards, achieving gold status in 2018.

PD Ports employs more than 1,200 people, owning and operating well-connected ports along the East coast of the UK; unlocking key markets in the North, South, Midlands and Scotland and providing access to the hub ports of Europe and further afield. Their trusted international partners stretch their reach far beyond the UK, allowing services to be delivered throughout Europe and the rest of the world.

With headquarters in Middlesbrough, PD Ports are also the Statutory Harbour Authority for the Ports of Teesport and Hartlepool, ensuring safe navigation of vessels, river management and maintaining channel depth.

Cost
Rate Cost
Price No Charge

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Pandemic Perspectives – Tyne Theatre & Opera House

Hear from business leaders on how they and their businesses have adapted during the COVID-19 pandemic.

Join Northern Society of Chartered Accountants for an informal chat with Keith Proudfoot, Tyne Theatre & Opera House, on how they have been impacted in different ways by the unfolding crisis of the last few months and hear him provide his unique perspective on the pandemic. 

Event information

This session with Keith Proudfoot, Tyne Theatre & Opera House, will focus on how the theatre has operated over the past few months and looking into the future the importance of the ‘Panto’ on the business.  

Every few weeks a different speaker from a different key business across the Northern Society area will be interviewed and invited to talk about how the COVID19 pandemic has affected them. Unique insight and perspective will be given as they spend half an hour giving their reflections on the changes that they have witnessed and helped shape since the start of the year, both from an organisational and a personal point of view across the business as a whole.

We’ll also hear how business models have been forced to adapt and which new skills have had to be rapidly learned as the businesses have evolved

The interviews will cover businesses across different sectors including: Metnor Construction, Greggs, Venator, Tyne Theatre & Opera House and PD Ports and more.

About Keith Proudfoot BSc BFP FCA Tyne Theatre & Opera House

After qualifying as a Chartered Accountant in Newcastle upon Tyne with an international practice; he moved to a small firm helping many SMEs through their first few years. He then headed Finance & Admin in a regional firm of Chartered Surveyors, before an MBO saw him as FD and Company Secretary of a group of estate agents and property management companies.

Keith was appointed Regional Director for ICAEW in the northern region in 2001, and also for ICAEW members in Scotland 2002, positions he held until December 2017.

Keith holds Trustee/Director and other voluntary roles on a number of local culture organisations and charities. He is currently the President of the Northern Society of Chartered Accountants.

Beyond these roles and looking after his granddaughter two days a week, he is a keen follower of regional sport and participating in 12-car rallies and other more gentle events in his classic Mini.

About Tyne Theatre & Opera House 

The Tyne Theatre and Opera House is a Grade 1 listed theatre rated “in the top 4% of listed buildings” by English Heritage and is afforded a three star (the highest) rating by the Theatres Trust, “a very fine theatre of the highest theatrical and architectural quality”.

The importance of the architectural and theatrical heritage of the building is also recognised by The Associated of Historic Theatres in Europe and OISTAT (the International Organisation of Scenographers, Theatre Technicians and Architects).

Tyne Theatre & Opera House Limited

In January 2015 the theatre was given a new lease of life when a new operating company, Tyne Theatre & Opera House Ltd was set up to operate and manage the business.

The Limited Company is the Preservation Trust’s subsidiary. Together with the operating company, the Trustees of the Tyne Theatre & Opera House Preservation Trust are committed to restoring the theatre to its former glory and raising the necessary funds to ensure that its heritage is sustained for future generations.

Cost
Rate Cost
Price No Charge

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Coffee Morning (virtual) for retired members

Join with other retired members for a catch up with coffee or tea (biscuits optional).

Event information

Calling all retired members! Whether you are long retired, newly retired or are simply edging towards retirement, you (and your partner) are welcome to join our President Keith Proudfoot for a virtual coffee morning.

During these unprecedented* times, whilst only a few of us can expand our domestic contacts with a “bubble”, it’s all the more important that we stay connected with as many of our circles of acquaintances as we can.

So whilst we’re all stuck indoors and you’ve done as much painting and gardening as you can – or more than you want – why not grab your favourite cuppa and settle down to join fellow retired members for a coffee morning with no raffle but plenty of catch up chat.

* (an over-used word since March)

Cost
Rate Cost
Price No charge

Please note that pre-registration is required to be sent the link and password to join.

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Managing cash flow as businesses emerge from lockdown

This roundtable (round your screen) discussion will offer practical advice about how you can manage your cash during this crisis, as well as put systems in place for the future.

Event information

This 45 minute webinar will cover:

  • strategies for effective cash flow management in a time of crisis – from ICAEW member Steve Plaskitt
  • Access to business support, finance and funding to help businesses through the challenges Covid-19 – from Helen Lee

There will also be the opportunity to ask any questions during the session.

Relevant information for business can be found at https://www.northeastgrowthhub.co.uk/toolkits/covid-19-coronavirus-toolkit 

 

This is a free event but pre-booking is required to be sent the electronic joining details

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