Meet the Team at Stephenson Smart in Wisbech
Stephenson Smart acquired an office on the historical Crescent in Wisbech when it took over Mellor Bellamy in 2010. The team there provide clients with business and tax advice as well as help with VAT, payroll and accounting software.
Chris Goad BFP FCA
The managing partner at Wisbech. Chris is a Fellow of accounting with 17 years’ experience in the industry and specialises in business finance and tax planning. As well as managing the team at Wisbech he also manages the March and Downham Market offices.
Nicola Bliss FCCA
A manager who offers general tax advice and accountancy services. Nicola is a Fellow of accounting with 16 years’ experience and started her career as a trainee at the King’s Lynn office.
The face of the Wisbech office and an integral part of the team. An accounts assistant with 24 years’ experience, Mervyn provides general accounting support to clients as well as supporting the team and helping the office to run smoothly.
Rosemary started her career in accounting as a trainee with Mellor Bellamy, fresh from attaining a BTEC National Diploma in Business and Finance from Wisbech College. She has worked in the same office since then and is now an accounts assistant with Stephenson Smart.
Adrian has 32 years’ experience in accounting and has spent all his career at the office on The Crescent, initially with Mellor Bellamy and now with Stephenson Smart. He offers clients support with bookkeeping, accountancy and VAT.
Sally has 32 years’ experience in accounting covering VAT, bookkeeping and audit work. Most recently she has focussed on supporting clients with their payroll.
One of many trainees across the Stephenson Smart offices, Zara was offered the position while she was completing her A-Levels. Zara always new that maths was her passion and actively sought out a trainee accountant position whilst still at school.
Becky also offers administrative support to the team at the March office but is usually based at Wisbech. Becky has a degree in Business Management and has returned to work at Stephenson Smart after having a career break to concentrate on being a full-time Mum.
Has worked from the office on The Crescent for 50 years, first for Mellor Bellamy and most recently for Stephenson Smart. Michael is retiring at the end of this year, we would like to thank him for his years of service to accountancy in Wisbech.
Stephenson Smart accountants have had an office in Wisbech since 2010. There are 10 people in the team there including partner, Chris Goad BFP FCA and manager, Nicola Bliss FCCA.
Chris Goad BFP FCA advises clients on issues ranging from basic accounts and tax returns to the more specialised areas of accountancy and tax planning, including capital gains and inheritance tax planning. Chris also holds a certificate in probate and estate administration and is a designated Business and Finance Professional (BFP), accredited by ICAEW.
Nicola Bliss FCCA has broad experience of dealing with owner-managed businesses, offering business advice, and dealing with a comprehensive range of compliance matters, including audit and taxation.
Nicola spent her first four years at Stephenson Smart working in the payroll department, after she joined in 2004. She became fully qualified in 2013 and has broad experience of dealing with owner-managed businesses, offering business advice and dealing with a comprehensive range of compliance matters, including audit and taxation. She operates in Wisbech, March and Downham Market offices.
Nicola enjoys travelling, as well as spending time with her family.
Chris Goad FCA of Stephenson Smart explains the forthcoming new Capital Gains Tax rules for people disposing of property.
For people about to dispose of property there are important tax changes on the horizon, because from April 2020 you’ll need to factor in new capital gains tax (CGT) rules.
Until now, private residence relief (PRR) has meant there is usually no CGT to pay on the sale or disposal of your main/only residence – but the 2018 Budget announced important changes to the final period exemption and lettings relief.
Currently, the final period exemption means you’re generally not liable for CGT on the sale of a property which was once your home (even if you no longer live there) for the last 18 months of ownership.
However, from April 2020 that will be cut to nine months. The change could affect significantly higher numbers of property transactions, and if you’re buying a new property before selling the old one, it will be important to sell within nine months to avoid a possible CGT bill.
As for lettings, the current rules allow up to £40,000 relief (£80,000 for jointly-owning couples) for letting part/all of a present or onetime main residence.
Under the new regime, lettings relief will only be available when occupation is jointly shared with a tenant.
These new rules will apply to disposals from April 2020 regardless of when the period of letting took place which is likely to considerably reduce the scope of the relief.
April 2020 will also see a major change to current CGT deadlines when disposing of residential properties.
In the future, there will be a 30-day window after the disposal completion date in which to file a return, calculate and pay the CGT due.
If no payment is due (for example, if PRR is available in full) reporting will not be required.
The change mirrors the current obligations of non-UK residents.
Since April 2019, non-resident CGT has applied to direct and indirect disposals of UK land or property, with non-resident companies being chargeable to corporation tax.
There is a 30-day reporting requirement even if there is no tax to pay, and where tax is due, it must be paid within 30 days of completion.
As with any changes to taxation, complexities can arise and taking your individual circumstances into account is essential.
It’s always prudent to discuss the potential tax implications of any property transaction, and for peace of mind, please contact one of our qualified tax advisers for more details and information specific to your situation.