End of business relationship after 53 years

David King and Neil Gayton

7th July, 2021, Melanie Harriss

Well-known local painter and decorator, David King is putting down his brushes and retiring from his business after 53 years.

Throughout that time David has been a client of Stephenson Smart’s, who have supported him with his accounts and tax returns. Having such a long relationship with the firm has meant that David has been looked after by many, now retired partners including Morris Harcourt, Douglas Shinn and Keith Turner. Most recently he has been supported by manager, alongside current partner, .

As well as Stephenson Smart helping David, David also undertook some decorating at their and can even remember passing by the office of one of the firm’s founders, Robert Stanley Smart on one of his very first jobs in 1968.

One of David’s other jobs in his early days was at Park House in Sandringham, which was then still the residence of a young Lady Diana Spencer.

The relationship between decorator and accountant also led to David’s son doing work experience with another retired partner, Peter Lofting. His son went on to train as an accountant and became a finance director of a large firm.

Neil said: “It has been a pleasure to work with David over the last few years.  I wanted to mark his retirement, and the end of our working relationship, by presenting him with a hamper, as a token of appreciation for his custom all these years.”

David said: “I have always been looked after very, very well by the whole team. I got to know everyone in my time as a client and they have always been very helpful.

We thank Stephenson Smart for all their help and guidance over the last 53 years – always ready to answer any query with promptness, expertise and patience.”

David is a keen supporter of Narborough Cricket Club and looks forward to spending his retirement with his wife, Hazel visiting their children in Essex and Gloucestershire, gardening, and getting away to Tenerife, when they can.

New era at King’s Lynn office

Dan Jastrzebski, Michael Clunan, James Taylor and Jenna Noble of Stephenson Smart

13th May, 2021, Melanie Harriss

It’s a new era for Stephenson Smart’s office as long-serving partner, takes on the role of Managing Partner, after the retirement of company stalwart Clive Dodds.

Also, has been made partner, while Jenna Noble, James Taylor and Michael Clunan have been promoted to managers, forming a new team, working under Dan.

Mike Andrews joined Stephenson Smart as a trainee in 1991 and made partner 21 years ago. He is responsible for the firm’s audit compliance and practice assurance matters and specialises in audit, corporate structuring and taxation. His responsibilities also extend outside of the company as a director of King’s Lynn Festival Too and a co-opted governor of the College of West Anglia.

He said: “The firm is in the best place I could hope for and all credit to Clive for leaving us in such a strong position. The plan now is to continue its growth. In the last few years we have expanded more than three times in size and there are lots of opportunities to move forward even further. One of the focuses will be on IT enhancements, the major impact of MTD and how we embrace that.

We are the largest and longest standing office here in Lynn, so to have Dan on board with a relatively young management team behind him is very exciting as we are investing in the next generation of Stephenson Smart.

I also have a forward-thinking team and coupled with the support of our other existing partner it gives us a new dynamic and fresh perspective for the future.”

Dan, a chartered accountant and tax advisor, joined the company in 2018 and the board of directors in April 2020.

He has a breadth of experience in all areas, specialising in inheritance tax, trust and estate work.

His role sees him take over Clive’s existing client base as well as supporting James and Mike, both 27, and Jenna, 30, in their new positions.

He said: “It has been a tricky transition period due to Covid, but I am hoping to be able to organise more face-to-face meetings now. I’m really excited about working with my new team and taking the business forward.”

King’s Lynn

Stephenson Smart Kings Lynn Office

4th December, 2020, Stephenson Smart

Stephenson Smart accountants can trace their history on King Street in King’s Lynn back to 1920.

Today, the office at 22-26 King Street employs nearly 50 people, including three partners:

is the Managing Partner at Stephenson Smart and responsible for the firm’s audit compliance and practice assurance matters. He acts for a large and diverse portfolio of clients, specialising in audit, , and taxation. He also deals with Academy accounts and audit, and the audit of charities.

is a member of The Society of Trust and Estate Practitioners. Her specialisms include dealing with trusts and estate accounts, administration and tax affairs, including annual self-assessment and calculation and reporting of events, as well as advising clients on inheritance and planning.

has a breadth of experience in dealing with accounts for individuals, partnerships and companies, as well as undertaking a range of taxation work. Dan specialises in and for individuals, along with , trust and estate work.

Response to Summer Economic Update

Dan Jastrzebski ACA CTA

8th July, 2020, Dan Jastrzebski

On Wednesday 8 July the Chancellor of the Exchequer, Rishi Sunak presented a Summer Economic Update to the House of Commons. The main theme of his announcement was a ‘Plan for Jobs’.

Stamp Duty

The Chancellor announced that, with immediate effect, there would be no stamp duty to pay when buying a property up the value of £500,000. This relief will be until 31 March 2021. The previous threshold before stamp duty was due was £125,000, or £300,000 for first time buyers.

This measure is a step towards trying to bolster confidence in the housing market and build upon the recovery that it is starting to make, which will in turn support the construction industry.

VAT

To further support the hospitality industry, VAT will be reduced from 20% to 5% on the supply of food and non-alcoholic drinks, accommodation and attractions. This will be from 15 July 2020 until 12 January 2021.

Further guidance on the scope of this relief will be published shortly.

The hospitality industry has been one of the hardest hit by the coronavirus outbreak. There have been other schemes and grants given specifically to this industry to help it maintain and recover. The reduction in VAT and the ‘Eat Out To Help Out’ discount scheme, which will run during August, are further to steps to support those in the hospitality industry and will be welcome news to many businesses in the local area.

Jobs Retention Bonus

As an extension to the the Chancellor announced news of a Jobs Retention Bonus. This will be a one-off payment of £1,000 to UK employers for every furloughed employee who remains continuously employed through to the end of January 2021.

Employees must earn above the Lower Earnings Limit (£520 per month), on average, between the end of the Coronavirus Job Retention Scheme on 31st October 2020 and the end of January 2021.

Payments will be made from February 2021. Further detail about the scheme will be announced in due course.

This measure is in response to calls for the Jobs Retention Scheme to be extended beyond 31 October 2020 and is designed to encourage employers to retain staff to prevent redundancies and higher unemployment when the scheme ends.

Kickstart Scheme

The Chancellor announced a raft of measures designed to support, create and protect jobs. The most significant one being the Kickstart Scheme that encourages UK employers to create high quality 6-month work placements for those aged 16-24, with government funding available for each job to cover 100% of the relevant National Minimum Wage for 25 hours a week, plus the associated employer National Insurance contributions and employer minimum automatic enrolment contributions.

 

These further announcements of business support by the government are designed to try and prevent the UK economy from shrinking further, and to weather the global recession caused by coronavirus.

The Chancellor plans to deliver a Budget and spending review this Autumn that should give a clearer picture of the health of the British economy.

You can find out more about all of the financial support available to businesses in our

Full details about the Government’s ‘A Plan for Jobs’ can be found on .

Peter Bannister MAAT

Peter Bannister MAAT: King's Lynn

10th March, 2020, Stephenson Smart

Peter has worked in the accountancy industry in west Norfolk for more than 30 years.

He is a manager at the company’s King’s Lynn office, and assists Claire Melton with her portfolio of clients.

He believes it is important to establish a good rapport with his clients and has experience of working with many types of businesses, from sole traders to large multi-million-pound companies and charities.

He has the responsibility of training junior accountants and has enjoyed the pleasure of seeing them go on to successful accounting careers.

Peter is married with two grown up children and outside of work is a marker for AAT exams.

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