Archive for the ‘MHA’ Category

Motor Dealer Report 2016 – Now Available

Posted on: July 22nd, 2016 by Matthew Thomas No Comments

Matt ThomasOur MHA Motor Dealer Report 2016 shows that the sector is very positive and optimistic about the next 12 months. However, the recent Brexit vote has thrown an element of uncertainty into the mix.

The report looks at Financial Performance Drivers, Future Industry Outlook, Operational Performance Drivers and other elements such as Social Media and Marketing Service Plans.

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Legal Benchmarking Report reveals the cost of premises is increasing yet firms are still not investing in IT and remote working

Posted on: June 15th, 2016 by Seamus Gates No Comments

The MHA Legal Benchmarking report 2016  points to encouraging signs of growth for a second year, most notably through an upturn in the Property and Construction Sector.

The review, undertaken by our Professional Practices Group, indicates a much more positive outlook across most firms, helping to ease the considerable financial pressures experienced in recent years.

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Ten Current Issues facing the Not-for-Profit Sector

Posted on: April 12th, 2016 by Sarah Case 2 Comments

Sarah CaseMHA, the UK-wide association of independent accountancy and business advisory firms, has produced a report identifying ten issues currently facing charities and organisations in the Not-for-Profit (NfP) sector.

The association’s not-for-profit specialists have drawn up the list of key challenges based on the issues raised regularly by its client base of over 1600 charity and NfP organisations.

Sarah Case, Head of the Charity and Not-for-Profit sector at MHA, said: “The sector is dealing with continued challenges from numerous directions. Changing legislation is placing a cost burden onto organisations already struggling with funding issues. Governance continues to be key in maintaining and developing a successful organisation, being alive to taxation issues has become imperative and the charity regulators (Charity Commission and the Office of the Scottish Charity Regulator (OSCR)) are adopting a more rigorous approach.”

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2015 Professional Practices Benchmarking Report – How does your firm compare?

Posted on: October 1st, 2015 by Seamus Gates No Comments

Seamus GatesThis year has been a positive one for most sizes of legal firms but they must ensure that they are profitable and efficient to stay competitive. MHA member firms understand the pressures facing legal practices as they respond to increased workload from an economic upturn along with ever more increasing compliance requirements.

MHA member firms have acted for a wide range of clients in the legal sector for many years. Drawing from this insight across the UK, the 2015 report highlights some of the pertinent issues for those in the legal sector and focuses on trends in income, profitability, employment costs and lock up.

MHA Report highlights:

  • Expenditure of staffing remained consistent, but we do expect spend to increase this year.
  • Practice costs of rent, marketing, IT and professional indemnity insurance all saw an average reduction as a percentage of income, with the largest firms enjoying the most considerable decrease in these overheads.
  • There has been significant growth in the total fee income generated by practices with more than 11 partners.
  • Extraordinary growth in profit per equity partner in 25+ partner practices as a result of mergers.
  • Lock up days have improved for all sizes of practice, other than sole practitioners.

We would urge firms to consider the findings of the report in the context of their own practice. MHA member firms are sector specialists and are able to assist legal clients with a wide range of services.

Download a full copy of the 2015 Professional Practices Benchmarking Report here.

Thank you for taking the time to read our report. We would be delighted to meet with you or your team to explore ways we could add value. Please do not hesitate to contact us directly should you wish to discuss anything on [email protected]

Charities’ Trustees Reports: Time and cost concern smaller charities

Posted on: July 28th, 2015 by Sarah Case No Comments
Sarah Case, Director, MHA Broomfield Alexander

Sarah Case, Director, MHA Broomfield Alexander

Charities are voicing concern that the new Trustees Reporting requirements introduced this year under the SORP (Statement of Recommended Practice) arrangements are diverting volunteer resources away from core activities.

Sarah Case, Head of the Charity and Not-for-Profit sector at MHA, the national association of independent accountants, said: “As we progress through 2015, not-for-profit organisations are telling us that they view some of the Trustee Reporting requirements and additional SORP disclosures as cumbersome and non-value adding, even though the overarching objectives of the new measures are understood and transparency is welcomed by the sector. The effect is that vital managagement and trustee volunteer resources are being diverted into administrative duties both to understand and comply with the new obligations.”

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MHA Broomfield Alexander widens international reach

Posted on: December 4th, 2014 by Ian Thomas No Comments
Ian Thomas, Managing Director, MHA Broomfield Alexander

Ian Thomas, Managing Director, MHA Broomfield Alexander

MHA Broomfield Alexander has signed up to a new global network to assist its clients that have business interests abroad.

Through our membership of MHA we have become an independent member of Baker Tilly International which will give it access to experts from member firms in 137 countries worldwide.

The move means that MHA Broomfield Alexander can call on specific business and financial expertise ‘on the ground’ in foreign jurisdictions.

MHA Broomfield Alexander has joined the network as part of its membership of MHA, the UK-wide association of nine independent accountancy firms. MHA was previously part of the international association of accountancy firms Morison International.

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Tourism & Hospitality survey 2015

Posted on: December 3rd, 2014 by Matthew Thomas No Comments
Matt Thomas, Director, MHA Broomfield Alexander

Matt Thomas, Director, MHA Broomfield Alexander

The tourism and hospitality sector is a rapidly changing landscape and businesses operating within it must be adept at responding to changes in both local and global market conditions, ensuring awareness of the competition at all times.

We would welcome the input of all those involved in the travel and tourism sector in Wales as we identify the trends and challenges for the sector in 2015 in our second Travel & Tourism Survey.

Please click here to complete the survey and be entered into our iPad Mini prize draw.

This survey is going out to thousands of businesses in the sector across the UK. Along with our colleagues in our Travel & Tourism team of our national association at MHA, we have a wealth of experience advising leisure, hospitality and tourism businesses ranging from pubs and restaurants, hotels of all sizes and hotel groups to travel agencies, tour operators and travel management companies.

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Tourism & Hospitality survey results 2014

Posted on: July 29th, 2014 by Matthew Thomas No Comments

Around one third of staff working in guest houses, hotels, restaurants and pubs are now employed on zero hours contracts, according to the latest Tourism and Hospitality survey conducted by MHA.

Yet, despite the flexibility that this arrangement offers employers, well over 60% of these staff regularly work 20 hours or more – with more than three quarters of these routinely employed for 40 hours per week.

The survey paints a picture of an industry starting to benefit from an upturn in trading conditions, with 56% reporting improved profitability in the last 12 months and 58% predicting that 2014 will be better still. However, 50% cited turnover either stagnant or growing by less than 5% over the last 12 months.

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Farmers are optimistic about expansion but concerns remain about future succession

Posted on: July 25th, 2014 by Sarah Case No Comments

The second in a series of agricultural surveys conducted this year by MHA, the UK-wide group of accountancy and business advisory firms, reveals that the majority of farmers are optimistic about future growth and are planning for expansion where possible.

The MHA Agriculture Insight Survey was first conducted at LAMMA in January and rerun at Cereals 2014 in June. Collectively these surveys take into account the views of more than 200 farmers nationwide.

Key findings include:

  • Despite falling prices, optimism for growth is high – 69% of those who responded were expecting growth.
  • Expansion is an aspiration for many with 51% planning to increase their acreage.
  • Succession planning is a concern which is moving up the agenda for many respondents.

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Update on SRA consultations on regulatory reform

Posted on: July 3rd, 2014 by Seamus Gates No Comments
Seamus Gates, Director, MHA Broomfield Alexander

Seamus Gates, Director, MHA Broomfield Alexander

Following on from the MHA submission to the recent SRA consultation on regulatory reform we have today received an update from the SRA.

The below is an update on the discussions had by the SRA Board:

The majority of responses to the consultations agreed with the aim of reducing the burden of regulation. However, some disagreed with the proposals made.  This feedback has been taken on board and, where it is felt that respondents have a valid point it has been decided that a fresh look should be made at the proposals or look for more information.

Minimum terms and conditions for indemnity insurance

The Board is introducing a requirement on all firms to ensure they have an appropriate level of indemnity insurance cover, but reducing the minimum level of compulsory cover to £500,000. These proposals will ensure consumers are better protected by, for the first time, requiring  firms to ensure appropriate cover rather than simply relying on meeting the minimum requirements and, at the same time, ensure the very  many firms undertaking primarily low value transactions are not forced to obtain higher levels of insurance than they and their clients require.

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