Hawsons staff donate food for HLB Communities Day

Today our international network HLB is holding its annual communities day in an effort to support local communities during COVID-19. Due to the current COVID-19 restrictions, we decided to arrange a large donation for local food banks in their respective areas similar to the one we did in October last year.

Our Sheffield office has been collecting for the Sheffield S6 Foodbank

Our Doncaster office has been collecting for the Given Freely, Freely Given food bank operated by Churches in Balby, Wadworth and Loversall.

Our Northampton office has been collecting for the Weston Favell Food Bank.

 

We would like to thank all the staff at all three of our offices in Sheffield, Doncaster, and Northampton for donating so generously over the past few weeks for such a worthy cause.

We hope that Hawsons staff will be able to have a day out volunteering at local charities in future years!

Doncaster office food donations
Sheffield office food donation
Northampton office food donations
HLB celebrates winning ‘Network of the Year’

HLB celebrates winning ‘Network of the Year’

Our international network HLB has won the prestigious ‘Network of the Year’ award at the 2020 Digital Accountancy Awards. The award ceremony was held virtually this year on 30 September.

The Digital Accountancy Awards is highly regarded as one of the premiere award programmes in the accountancy industry, celebrating excellence in the profession.

To be considered for the award, nominees had to:

  • Demonstrate that they have executed profitable growth strategies
  • Be recognised by the industry as a reputable brand
  • Excel in a number of key strategic and operational areas

In 2019 HLB celebrated its 50th anniversary and this award demonstrates the hard work and commitment of all member firms who have strived towards providing the highest standard of client services.

Corney Versteden HLB Global Chairman commented on the win: “I am immensely proud that HLB has been recognised as ‘Network of the Year’. 2019 was a monumental year for us and we looked forward to building on the fantastic achievements we have made. But we all know that 2020 has been an unprecedented year for everyone and I’ve been humbled to see how our network has come together to support not only each other but our clients during these extraordinary times. This award is truly a reflection of all the hard work and dedication of our people from all over the world and it shows the strength of our tagline ‘Together we make it happen’”.

More from our tax experts

You can find all of our latest tax articles and tax resources here.

If you are looking for advice in a particular area, please get in touch with your usual Hawsons contact.

Alternatively, we offer all new clients a free initial meeting to have a discussion about their own personal circumstances – find out more or book your free initial meeting here. We have offices in Sheffield, Doncaster and Northampton.

Free initial meeting

Chris Hill

Senior Partner, Sheffield

0114 266 7141
HLB celebrates winning ‘Network of the Year’

HLB Communities Day 2020

On Friday the 9th of October our international network HLB will be holding its annual communities’ day in an effort to support local communities during their post COVID-19 recovery. This is a worldwide effort with a common theme of giving back to local communities. In 2019 there were over 1,320 participants and the aim this year is to increase the level of involvement even further.

In previous years Hawsons staff have had a day out volunteering at various local charities in each of the three offices. This year the firm has arranged for a large food bank donation to be gathered by all partners and staff. Over the next few weeks, we will be collecting as many donations as possible in order to help this very worthy cause.

Free initial meeting

HLB celebrates winning ‘Network of the Year’

HLB’s Inaugural survey of business leaders is now available

During the last few months of 2019 Hawsons and many other firms helped HLB conduct a survey where they spoke to business leaders across the globe to gather their insights into the changing world of business as we enter a new decade.

HLB The Global Advisory and Accounting Network

“HLB is a global network of independent advisory and accounting firms”. Hawsons Chartered Accountants are one of many members of regional accountancy firms spread across the globe. Hawsons have been in business for 165 years and have very deep roots on our community, but thanks to HLB we are now in contact with many professionals across the world.

The results of HLB’s Inaugural Survey of Business Leaders: The Execution Challenge of the Next Decade have been announced. In the survey 368 business leaders were surveyed across 5 continents. The findings of this survey identify the characteristics of successful business models of the future against the areas business leaders are focusing on strengthening in the next twelve months. The survey results suggested that business leaders are going to focus in areas of technology, innovation, operations and customer acumen to thrive in the new decade.

These are some of the key findings:

  • 68% of business leaders rank economic uncertainty as a top risk to their business.
  • 46% expect global economic growth to decline in 2020.
  • 49% agree that changes in long-standing trade agreements will create new opportunities.
  • 53% are using market research to stay abreast of rapidly changing consumer behaviour.

If you would like to see the full report follow this link: www.hlb.global/surveyofbusinessleaders

More from our tax experts

You can find all of our latest tax articles and tax resources here.

If you are looking for advice in a particular area, please get in touch with your usual Hawsons contact.

Alternatively, we offer all new clients a free initial meeting to have a discussion about their own personal circumstances – find out more or book your free initial meeting here. We have offices in Sheffield, Doncaster and Northampton.

Free initial meeting

Hawsons’ partners take part in international football tournament

Hawsons’ partners take part in international football tournament

HLB-International-logo_CMYKsmall

Hawsons’ partners take part in international football tournament

Two of Hawsons partners, Simon Bladen and Scott Sanderson, took part in an International ‘World Cup style’ tournament in Paris, France, over the weekend

Simon and Scott represented the UK team of HLB International – a worldwide network of independent professional accounting firms and business advisers to which Hawsons belong – competing against other HLB teams from member firms in France, Ireland, Holland, Norway, Sweden, Belgium, Denmark and Germany.

This year’s tournament, which took place on the 10th September, is running for the sixth year in a row and comes after recent successful tournaments in the UK and Belgium

The UK team gave a good account of themselves at the tournament, by reaching the semi-finals and ultimately finishing in third place. This years winners were Denmark, beating last years winners Holland in the final.

Speaking about the tournament, Scott said: “The tournament was another opportunity for us to strengthen our proactive working relationships with our UK and European colleagues of HLB International. Our French hosts put on a great tournament but unfortunately we were beaten by a strong Dutch team in the semi-finals.”

 

Scott Sanderson

Scott is the partner responsible for looking after the firm’s Healthcare & Medical sector clients and has worked at Hawsons throughout his career. During his time at the firm Scott has developed his expertise across a number of departments including audit, business services and payroll and now acts for both corporate and non-corporate clients.

 

 

 

Simon is the partner responsible for looking after the firm’s legal and charitable clients in particular, although he also holds a general practice portfolio. He trained and qualified at Hawsons before becoming a manager and subsequently a partner at the firm. He has a wealth of experience within the legal and charitable sectors and is also a non-executive director for the Sheffield Chamber of Commerce.

HLB members discuss key topics in the Netherlands

HLB members discuss key topics in the Netherlands

HLB member discuss key topics in the Netherlands

A group of personal wealth advisors from within the HLB International network met for a meeting in Tilburg, the Netherlands, on 20 and 21 November 2015. There were representatives present from the USA, the Netherlands, Belgium, France, Germany, Ireland, Spain and the United Kingdom.

In this article I recap what each of the HLB personal wealth advisors discussed at the meeting including European Succession Regulation, US succession taxes, German succession taxes, new UK rules on real estate investment by foreign investors, French succession taxes, foreign real estate owners in Spain, estate and gift taxes in Belgium and the Irish estate tax regime.

The meeting was very useful for all those present to be able to gather additional information to take back and to give advice to clients in each country. Being a member of HLB International is very important for Hawsons, enabling the firm to support clients both nationally and internationally.


HLB International logo_CMYK

Hawsons is a member of HLB International, a fast-growing, dynamic network of independent accounting firms and business advisers. Formed in 1969, HLBI is a mid-tier international accounting network, servicing clients through its member firms in over 100 countries. Through this network we can provide you with strategic, business and taxation advice relevant to the countries in which you are operating.

Read more in the HLB corporate brochure below.

HLB corporate brochure


New European Succession Regulation

The meeting began by considering the new European Succession Regulation which came into force on 17 August 2015. Of the 28 countries within the European Union, all have signed up except Denmark, United Kingdom and Ireland but the Regulation is still important for citizens of those 3 countries as they can apply the Regulation to assets situated in the other 25 countries.

Marc Lichtenberg of HLB Van Daal and Partners from the Netherlands explained that the new Regulation meant that it was the law of the state in which a deceased person has his ‘habitual residence’ at the time of his death which would generally be applicable. It was noted that habitual residence was a poorly defined term and that the meaning would only become clear as case law developed within Europe.

The law does give an individual the right to choose, as the law which governs his succession, the state whose nationality he possesses at the time of death. As a result of this it was important that all EU residents consider the Regulation and complete a certificate or will, to make it clear which law that person wanted to apply. The Regulation is relevant under civil law but does not affect the tax position in each individual country.

US succession taxes

The group then had a presentation from Hal Terr of Withum Smith & Brown and Mike Criddle of Eide Bailly about US succession taxes and in particular estate tax.

The U.S. estate and gift tax exemption for 2015 for U.S. citizens and residents is $5,430,000 per person. This means that very few U.S. citizens or resident taxpayers have a federal estate tax liability on death and it means that business reliefs which are very common in Europe are less important. The problem remains that taxpayers who are not citizens or residents of the U.S. have an estate exemption of only $60,000 per person and this means that careful planning may be required for non-U.S. citizens or residents with real estate or other U.S. situs assets located in the U.S.

German succession taxes

Christina von Eckardstein of HLB Stückmann took us through German succession tax issues.

Tax planning in Germany consists of trying to give away all assets during lifetime using Usufruct and other techniques. The generous German regime meant that the plan was always to try and give assets away by anticipated succession and therefore not to face inheritance taxes at the not foreseeable time of death.

New UK rules on real estate investment by foreign investors

Kevin Bunting of Lovewell Blake and I (from Hawsons – both in the UK) explained about the new UK rules on real estate investment by foreign investors, including annual taxes on enveloped dwellings and the new non-resident capital gains tax charge which applies to UK residential property from 5 April 2015.

We also explained about the full exemptions from Inheritance tax that exist for the transfers of trading company shares and trading businesses, and the lifetime gift regime which allows unlimited transfers of assets from individual to individual without Inheritance tax as long as the person making the gift lives for 7 years after it is made.  Care is needed not to incur capital gains tax on lifetime gifts of investment assets though.

French succession taxes

Claire Schweitzer of HLB Groupe Cofimé took the group through the French succession tax issues.

Succession tax planning is very important for non-residents holding real estate in France as the succession taxes are very high (60% for example between non related persons). A tax exemption of €100 000 per parent and per child is applicable every 15 years.The tax planning can consist of transferring the bare ownership to the children whilst the parents retain the usufruct.

The application of a foreign civil law in accordance with the European Succession Regulation emphasizes the risks of a high taxation in France for non-residents. Claire also stressed the ability of non-residents to claim refunds of the French social contribution levied on rental income and capital gains from real estate owned in France since 2013 (and possibly from 2012).

Foreign real estate owners in Spain

Ludmila Frangu of Bové Montero y Asociados explained about the importance of all foreign real estate owners in Spain having an NIE ID Number and took us through the complex Spanish Tax rates relating to property ownership caused by the different regions of Spain having different rates of tax.

Along with France, Spain was a popular choice amongst Europeans for holding a second residence or holiday letting property and there were many issues which taxpayers from another country should be aware of in making such an investment, including the choice of vehicle to be used, which would often be a company.

Estate and gift taxes in Belgium

Pascal Dechamps and Marc Dierckx of HLB in Belgium explained about estate and gift taxes in Belgium and made the point that there were two types of succession tax imposed, depending on the circumstances.

A succession tax is levied on an inheritance received from a resident of Belgium and this applied whether the recipient of the inheritance was a resident of Belgium or not. This applies on the worldwide wealth of the deceased. For a non-Belgian resident deceased person, a transfer tax applies only on the value of real estate assets located in Belgium. This applies whether the recipient of the inheritance is Belgian tax resident or not. Belgian Law provides for favorable tax treatment for gifts of assets which can be physically handed over, and capital gains on real estate and shares owned by individuals.

Irish Estate Tax regime

Mark Butler of HLB Sheehan Quinn took us through the Irish Estate Tax regime and, despite Ireland having an attractive rate of corporation tax at 12.5% for trading businesses, it was surprising to hear that Ireland has a 33% capital acquisition tax which applies to gifts and inheritances of assets. There are various reliefs available to mitigate this tax although careful planning is required.

Many clients hold assets in more than one country including homes and rental property but also business assets and stocks and shares. It has become very important to be able to offer advice on succession issues and wills to such clients.

Although it is not the tax advisers’ main job to draft documents, it is important to have a close network of colleagues around the world with expertise to be able to point out the issues that need to be kept in mind when formulating a worldwide plan to minimise tax on succession.

Overall – a very useful meeting

The meeting was very useful indeed for all those present to be able to gather additional information to take back and to give advice to clients in each country. Businesses are trading internationally more than ever before and this is an area we are working very-closely on with our clients. Whether you’re expanding overseas from the UK, expanding to the UK from overseas or planning for international tax and VAT, our membership of HLB International can help; it is vital your accountant has access to expertise throughout the world. Find out more on our international tax page here.

The meeting was also a good opportunity to meet up with our worldwide colleagues and to strengthen relationships.

Below are a couple of photos from the HLB Tilburg weekend, including a team meal and a photo at the Stadium where we watched Willem II (Tilburg) v PSV Eindhoven, a game which finished 2-2.

IMG_5347IMG_5357

More from our tax experts

You can find all of our latest tax articles and tax resources here.

If you are looking for advice in a particular area, please get in touch with your usual Hawsons contact.

Alternatively, we offer all new clients a free initial meeting to have a discussion about their own personal circumstances – find out more or book your free initial meeting here. We have offices in Sheffield, Doncaster and Northampton.