The Firm
Events & Training
WE ARE THE CHAMPIONS!
After battling against firms from all over the country, we are delighted to announce we have won Best Medium Firm at the inaugural Scottish Accountancy Awards 2008. The awards were presented at a ceremony and dinner on Thursday 22nd May 2008 at the Hilton Hotel, Glasgow.
The 2008 Budget – Exposed!
Just two days after Alistair Darling’s first Budget, the sun shone on delegates arriving at the Keavil House Hotel for the Thomson Cooper Budget Seminar.
Thomson Cooper partners Andrew Croxford and Alan Mitchell gave the low-down on the budget. In particular, they highlighted changes to Capital Gains Tax and underlined the effect changes to Corporation and Income Tax rates can have on small businesses and individuals. Guest speaker Barbara Whiting from Green Business Fife gave a presentation on how businesses could save money by being more environmentally friendly.
Delegates then had the chance to meet old friends and make new contacts over a buffet lunch. Managing Partner Alan Thomson commented “I’m delighted with how well today has gone. With a record number of delegates (up 28% on our 2007 budget) there is a real buzz – our delegates are now armed with the information they need to steer their businesses through the next 12 months, backed up by our tax summary and handy tax card”.
Partner David Walker also commented “it is becoming more common for changes in taxation to be announced in the budget, while taking effect the following financial year. This leads to “forgotten” tax rises, such as the abolition of the 10p tax rate. While this change was announced in the 2007 budget, the implications were only recognised a full 12 months later when it came into effect.
This makes it all the more important that we re-visit budget changes on a regular basis to ensure that all our clients are fully aware of the implications of current and future changes to taxation and have the best possible advice to minimise the impact for them personally and for their businesses”.
For more information on the budget and its implications please contact Thomson Cooper Tax Manager Sandra Francis on 01383 628800 or sfrancis@thomsoncooper.com.
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Princess In The Park
Thomson Cooper partners David Walker and Andrew Croxford were honoured to meet Princess Anne in February in their role as Carnegie Dunfermline Trustees. The Princess Royal was visiting the city in order to open the Trusts’ spectacular new headquarters on the edge of Pittencrieff Park. When Her Royal Highness enquired whether having two partners from the same firm put a strain on the partnering resources, David said it didn’t and we were happy to commit the time. Andrew joked, “I think that they have the two of us, ma’am, so that they can get both sides of the argument!”
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WOW-ING THE CROWDS AGAIN!
Delegates left the latest Thomson Cooper business development seminar inspired to buy their favo
urite customers doughnuts, hug their staff at least 4 times a day and see their profits rise.
Derek Williams of the Wow! Awards proved yet again to be an entertaining speaker, keeping delegates laughing and vying for sweeties. Ultimately, however, delegates were motivated to use the tools and techniques provided by Derek to delight their customers and ensure they keep coming back for more.
Derek Williams’ first business won five national customer service awards and an award for most successful business. He has since achieved international recognition as a speaker and author. In 1999 he started the Wow! Awards, to raise the profile of UK businesses that give great service.
His latest book “Wow! That’s What I Call Service” is waving the flag for businesses across the UK.
During the networking lunch that followed the seminar, Thomson Cooper Managing Partner Alan Thomson commented “I’m absolutely delighted with the response to the seminar. At Thomson Cooper we firmly believe that continuously improving customer service is the key to success. Providing these events not only helps our business, but helps our clients and the wider business community to learn, improve and prosper as well.”
Brown's Last Budget
Bright sunshine gave delegates a warm welcome on Friday 23rd March at the Keavil House Hotel, as the 2007 Thomson Cooper Budget Seminar turned out to be another outstanding success! The Chancellor didn’t give anyone much good news but the panel of experts outlined the main areas affecting businesses and individuals, trying to highlight the pitfalls and planning opportunities.
The Chancellor's big announcements were the reduction in the main corporation rate and basic rate of income tax by 2%, with corporate tax reducing from 30% to 28% and Income tax from 22% to 20%. Unfortunately it was very much a sleight of hand budget and what he gave with one hand he took with the other. The small company rate of corporation tax will be increased from 19% to 22% over the next three years and the 10% lower rate of income tax will be abolished.
He has also reformed the capital allowance regime from April 2008. The allowance for plant and machinery will be reduced from 25% to 20% and industrial buildings allowances and agricultural allowances will be phased out over the next four years. These measures have been balanced by an annual 100% investment allowance of £50,000 and an increase in Research and Development allowances to 175% for small companies. This will result in big changes regarding how businesses calculate their tax. However, the end result may not differ very much if the Chancellor had made no changes at all!
The guest speaker this year was Peter Mackechnie from Phoenix Rising, a company who specialise in Business Leadership and Management Skills Development. Peter delivered a light hearted presentation on maintaining focus on important business goals which certainly raised a few smiles with the audience.
During the networking lunch that followed the seminar Managing Partner Alan Thomson commented, “We are delighted with the response to our event. Not only do our clients welcome the opportunity to apply tax changes to their own circumstances but they get the chance to develop their thoughts and experiences with others.” 
Peter Mackechnie of Phoenix Rising (left) with Thomson Cooper Managing Partner Alan Thomson.
Fife Farmers - Survival & Subsidies
Thomson Cooper, Fife’s largest independent accountancy firms heralded their latest Farming Development seminar a great success today, Wednesday 28th February. Held at Cluny Clays, the Thomson Cooper team welcomed a select group of local farmers, bankers and lawyers to share the findings of their extensive research project, focussing on the profitability of local farms and their interactions with subsidies.
The presentation, delivered by Firm partner David Walker, followed the trends and characteristics of local farm performance over the last 5 years. As an agricultural specialist of some 25 years, David is accustomed to providing clients with Benchmarking Reports. However, with the advent of the Single Farm Payment Regime (SFP), he wanted to undertake an extensive exercise comparing profits and the inter relationship of costs in client farms in an attempt to try and establish local Benchmark statistics and Key Performance indicators. He believed that farmers could use these to try and help them streamline their business to cope with the anticipated reduction in subsidy income over the next few years. To provide a larger sample on which to base their findings, the research was extended by undertaking a questionnaire campaign aimed at local farmers out with their client base.
Our picture shows David Walker (centre) with winners of the clay pigeon shooting competition, aided by accountant Fiona Robertson (far right).
Make 2007 Your Best Year Ever!
Thomson Cooper have hosted another successful seminar for our clients recently entitled ‘Make 2007 Your Best Year Ever!’ As part of our continual Business Development Programme, we enlisted the help of business coach, Jeremy Devlin-Thorp, to deliver the presentation on Friday 6th October 2006 at the BLCC, Dunfermline.
Jeremy, director of The ER Company in Edinburgh, is an expert in executive and organisational development having run The Excellent Results Company for 9 years. Their impressive client list includes corporate heavyweights such as BAA and Alfred McAlpine Government Services, as well as numerous large member organisations and councils. Jeremy has 28 years of business experience gained from senior positions held in major companies, as well as being a Chartered Accountant. He focuses on building long term profitability and growth and sharing the most up-to-date tools, techniques and processes in the critical areas that businesses need to master to be successful and sustainable. During the event he demonstrated how organisations could nurture team spirit, outlined the importance of celebrating success and shared his wisdom of how to remain focused on the most important goals. With Jeremy’s natural energy and enthusiasm, the event inspired and motivated the guests who represented every corner of the business spectrum.
Managing Partner Alan Thomson, delighted with the response from this latest seminar said, “This is our third year of the Business Development Programme that aims to provide clients with new skills and inspiration to improve their working environment. The positive feedback we gain from these events reinforces our ambition to continue providing new opportunities for our clients to learn and network in a relaxed atmosphere, completely free of charge.” 
Jeremy Devlin-Thorp of The ER Company with Thomson Cooper Managing Partner Alan Thomson.
For details of future events, please email our marketing manager Carol Humphries on chumphries@ thomsoncooper.com