Ten minutes on Tax

In this episode of our Dealmaker Podcast series, we delve into the exciting deal between Cocogreen and Circularity Capital, a specialist private equity firm investing in growth stage businesses in the circular economy. We talk to Cocogreen's Founder and Co-founder, Dr Sudesh Fernando and Thomas Ogden, as well as Claire Frangou, Director of Corporate Finance at KPMG UK. Cocogreen is a leading global brand in coir substrates, offering sustainable solutions for crop growth using coconut coir, a natural fibre extracted from coconut husks. Founded in 2010, Cocogreen has become a trusted partner for suppliers seeking reliable and sustainable growth solutions.   In this episode, we explore the story behind the Circularity Capital deal and the challenges faced along the way. Dr Sudesh and Thomas Ogden share their experiences and offer valuable advice to business owners considering seeking outside investment or selling their businesses. Tune in to gain insights and inspiration from this exciting business journey.

In this episode of our Dealmaker Podcast series, we talk about the deal between Amazon Filters and investor, BGF. Jo Sheerin is joined by Neil Pizzey, Managing Director of Amazon Filters, and Surinder Matharu, from KPMG as they discuss the story behind the deal of the businesses, as well as the challenges they faced along the way. Amazon Filters is a 38-year-old filter manufacturer that supplies global process industries and was founded with the goal to provide creative solutions to some of the biggest challenges facing the process industry. Despite facing various challenges such as recessions and pandemics, the company has grown consistently over the years and now has revenue of around £36m with facilities in 3 countries. Neil Pizzey mentions the decision to bring in outside investor, BGF, to bring renewed ambition, increased rigour, and a fresh viewpoint to the company. Neil speaks about the journey of helping grow the family business from an eleven-person team making less than £1m in revenue when he joined, to the team of over 250 people with revenue of around £36m, which has become one of Europe's leading filter manufacturers. We go behind the scenes of this exciting deal as Neil and Surinder share their experiences of the BGF deal, and provide helpful advice to business owners thinking about seeking outside investment or selling their business.

In this episode of our Dealmaker Podcast series, we talk about the sale of Zenergi to the mid-market private equity firm, ECI. Jo Sheerin is joined by Graham Cooke, CEO of Zenergi, and Alex Hartley from KPMG as they discuss the story behind the sale of the business and the challenges they faced along the way. Zenergi is an award-winning customer service company that specialises in energy and provides a range of services including energy procurement, contract management, and energy and carbon reduction solutions. As a partner to the UK Government, they work to promote new jobs and skills, encourage economic growth and prosperity, tackle climate change, and level up the UK as a whole. Graham speaks about his journey of growing Zenergi from a small regional consultancy in Southampton to the team of 220 that is now one of the UK's leading energy and environmental consultancies. We go behind the scenes of this exciting deal as Graham and Alex share their experiences of selling the business, and provide helpful advice to others considering doing the same.

The story behind the deal. In this episode of our Dealmaker Podcast series, we talk about the investment in inclusion and diversity consultancy, Talking Talent, by sustainable investor, Bridges Fund Management, a private equity firm that invests in businesses supporting the transition to a more inclusive and sustainable economy. Talking Talent provides organisations with coaching and development programmes to create work environments that are inclusive, fair, and with opportunities for all. Advising the likes of Unilever and Coca-Cola, Talking Talent aims to coach the whole system on diversity, not just the individual, and have a focus on empowering under-represented talent. Jo Sheerin is joined by Emma Thorne, Partner at Bridges, and Helen Roxburgh, from KPMG, as they discuss the importance of ESG for the sale of Talking Talent. They share the challenges they faced during the sale of the business and provide valuable advice for anyone looking to do the same. We go behind the scenes of this exciting deal. Listen to the full podcast.

In this episode of our Dealmaker Podcast series, we talk about the sale of The Whisky Exchange to the world's second-largest wine and spirits seller, Pernod Ricard. Jo Sheerin is joined by Sukhinder Singh, Founder of The Whisky Exchange, and Rob Baxter from KPMG as they discuss the decision to sell the business and the challenges they faced along the way. The Whisky Exchange was founded in 1999, and grew from being a small shop in West London to the internet's number-one specialist retailer of whisky and other spirits, now serving thousands of satisfied customers every week. Sukhinder speaks about his journey from building the initial customer base to dealing with competition from companies like Amazon, and then deciding to sell the business he was passionate about. We go behind the scenes of this exciting deal as Sukhinder and Rob share their experiences of selling the business, and provide useful advice to others considering doing the same.

The story behind the deal.  In the eighth episode of our Dealmakers Podcast series, we talk about the sale of Rockpool backed Outright Games to private equity firm EMK Capital. Outright Games is a family-friendly interactive video games publisher featuring well known characters such as Peppa Pig, PAW Patrol, PJ Masks, DreamWorks Spirit, & Jumanji. Set up as a family run business, they are the number one global publisher of children's games on console. Host Jo Sheerin is joined by Adam Whittaker, CFO of Outright Games and Ben Hutchinson, Investment Director at Rockpool as well as Nenad Simonovic and Ekrem Shahin from KPMG as they discuss the decision to sell and the challenges they faced along the way. The gaming market reached over $160 billion last year and set to exceed over $200 billion by 2023, making it one of the fastest growing forms of digital entertainment.  We go behind the scenes of this exciting deal as Adam and Ben discuss how you maximise the value of a deal whilst finding the right partner for the future of the business. 

In the next episode of our Dealmaker Series, host Jo Sheerin is joined by Mark Packman, CEO of Matrix Telematics, a global leader in fleet technology who was recently invested in by Bridges Fund Management, and Nisha Sharma, KPMG Corporate Finance Director, who led on the deal.  We go behind the scenes of this fascinating deal where Mark and Nisha share their personal experiences of the deal and offer some practical advice for future sellers.  As well as discussing the challenges he had to overcome, he talks about how he decided the timing was right to go to market and lessons he learnt along the way.  We explore how Matrix Telematics developed an ESG model to underpin its strategy to truly differentiate themselves in the eyes of an investor and stand out from the competition. 

In this episode, KPMG host Jo Sheerin is joined by serial entrepreneur Dan Lowe, original Co-Founder of UK craft brewery Fourpure, and dealmaker Rob Baxter, the KPMG UK Global Head of Consumer in the Corporate Finance team. Dan takes us behind the scenes of the deal, sharing his personal experiences and key learnings from when he sold the business to Australia-based drinks company, LION, in 2018.

In the fifth episode of our Dealmaker Series, KPMG in the UK host Jo Sheerin is joined by Mick Crosthwaite, former Chairman of HAS Technology, a leading provider of technology solutions for health and social care, and Graham Pearce, TMT team lead in Corporate Finance who led on the sale of the business to The Access Group, a market leader of business solutions and software. We go behind the scenes of this fascinating deal where Mick, an experienced dealmaker, shares his experiences of the sale and offers some practical advice for future sellers.  As well as discussing the challenges he had to overcome, he talks about how he decided the timing was right to go to market and lessons he learnt along the way.  “For me, climbing Everest, crossing the Atlantic Ocean on a RIB or building businesses – it's all very similar.  It's about a defined vision and a team of highly motivated people working to achieve a common goal”

In this episode of the Dealmaker Series, KPMG host Jo Sheerin is joined by Martin Port, founder of workforce management technology platform, BigChange. They are also joined by Graham Pearce, TMT team lead in Corporate Finance, and Ekrem Shahin who supported on the majority share purchase from Boston-based investors, Great Hill Partners. Every element of the BigChange deal was centred around forging relationships over many years. From cultivating connections with potential investors to aligning the management team, from briefing advisors to creating solid foundations with the chosen partner. Martin and his team always had an eye on creating strong foundations which, in no small part, contributed to the success of the deal. We go behind the scenes to discover more about the deal.

In this episode we're in conversation with Joff Baker as he shares his insights and key learnings from the sale of the family business, the Yearsley group, to international warehousing and logistics company, Lineage Logistics in 2018. Joined by Jonathan Boyers, UK Head of Corporate Finance, and Jo Sheerin, Joff gives us his thoughts on the challenges of separating emotion from such a personal deal, and why preparation and patience are key.

In this episode of the Dealmaker Series, KPMG host Jo Sheerin is joined by Mark Taylor, Global CEO of tech-enabled international logistics franchise, InXpress. They are also joined by Christian Mayo, a Partner in KPMG's Corporate Finance team, who supported its acquisition to US private equity house, Hudson Hill Capital, when they acquired a majority stake in the business in 2020. “It's only luck if you can seize the opportunity that's presented to you.” Mark explains why you should always be prepared for a sale by ensuring you focus on adding enterprise value and shares his advice to others considering selling their business.  We go behind the scenes of this interesting deal to uncover mark's personal experiences of being a part of the first private equity deal to be completed post COVID-19.

In our opening episode of the Dealmaker Series, KPMG host Jo Sheerin is joined by Daniel Bailey and Henry Doyle, who are the Co-Founders of cybersecurity specialist company, Altinet. They are also joined by Graham Pearce, a Partner in KPMG's Corporate Finance team who lead on the sale of the business to telecommunications equipment and services provider, Arrow Business Communications, in 2020. Daniel and Henry share their personal experiences of the deal process, including how they decided the time was right to go to market, the challenges they faced and share their advice for any other businesses who might be considering selling their business.

What were the deals that made you? In our new podcast we will go behind the scenes of some of our most interesting deals – telling the story from the perspective of the entrepreneur and the dealmaker. We'll uncover the lessons learned throughout the M&A process, how challenges were overcome and the personal experiences of those involved. As well as this, our guests will share their personal views and share practical advice and considerations for those undergoing deals in the future. Having worked with dealmakers for over 20 years as a sales & marketing professional, Jo Sheerin is delighted to host this podcast series featuring some of the UK's most exciting businesses and dealmakers. Jo heads up the origination team of the UK Corporate Finance practice connecting ambitious business owners with our market leading M&A team.    

Around 40,000 businesses had their Making Tax Digital (MTD) for VAT deadline deferred to October 2019, a date which is fast approaching. If yours is one of the businesses affected, are you ready?This episode will look at the experience of the businesses already in the MTD for VAT system to provide practical advice on how to prepare for 1 October. 

Does your business use discounts, incentive deals or package offers together to customers? Do you receive incentives such as rebates, volume discounts or marketing support payments? Or do you operate some kind of customer loyalty scheme? This episode looks at the VAT implications of certain business promotions. It will explore common arrangements, from meal deals to volume rebates and similar promotions and explain VAT pitfalls, consider the impact of recent case law and address current challenges from HMRC. It will give you real insight into how simple changes could make a real difference to your profits, your cashflows and your VAT accounting.

The available reliefs from capital gains tax and inheritance tax for owners of private trading companies who are considering a sale or succession have been a cornerstone of tax policy for many years. The 2018 Budget has however introduced a suite of changes which means access to some of these reliefs is more difficult. Further, the Office of Tax Simplification have recently released their thoughts on how to simplify the Inheritance Tax system. This episode will explore the capital taxes regimes and how common ownership structures, whether family or private equity owned could be affected, along with our thoughts on how to navigate through a future value realisation event with a view to maximising available reliefs.

International trade is in the spotlight with trade wars looming and Brexit on the horizon, bringing an increased focus on the efficiency of supply chains and minimising customs duty costs. Businesses need to ask: how well do we know our customs profile? And are we ready for the changes that Brexit could bring? This episode will run through some of the most important trade topics, from duty optimisation to compliance. It will focus on the interaction of customs duty and transfer pricing – and their conflicting objectives – which will be increasingly importance with the likely increase in related-party transactions post Brexit.

Managing tax compliance is a growing burden for finance leaders. Tax authorities are starting to use the latest data analytics on financial data provided directly to them to calculate tax due, bypassing taxpayers. But many businesses continue to use dated working practices, not matching the tech investment needed to keep up.This episode looks at the challenges which businesses face in not refreshing their tax model from the missed opportunity to benchmark performance – and the opportunities that a reset can bring. See how your company can reduce the burden of tax compliance by reviewing working practices, adopting modern technology and possibly outsourcing production.

With the recently confirmed extension of the UK’s Capital Allowances relief to cover investments on buildings and structures, alongside ever-increasing charges through business rates, it is more important than ever for businesses to manage taxes across their property portfolio. Whilst the extension of the existing Capital Allowances regime is good news for businesses and should result in additional tax relief, the changes introduce new compliance and reporting requirements.This episode will explain the major capital allowances changes that have been introduced this year: how they work, and what opportunities and challenges they bring to business.There will also be an update on business rates, to see what you can do if you’re not happy with the valuation assigned to your business premises.

Recent changes to the global tax landscape have seen tax authority challenge around how, and where, innovation activities are taxed. Meanwhile groups need to align their development, enhancement, maintenance, protection and exploitation (DEMPE) functions for both transfer pricing and R&D tax credit claims.This episode looks at managing the risks while unlocking the potential value that can come from innovation.

Following the consultation on how to implement off-payroll working reforms, the draft IR35 legislation has been published.The new regime, which takes effect in April 2020, will affect all public and private sector organisations that engage with contractors through personal service companies, and internal stakeholders responsible for labour supply chains such as human resources, tax, procurement and legal.This episode explains the basics of the new regime in the private sector and what companies need to do to prepare for it. 

Ten minutes on Tax covers the most pressing issues for tax, ranging from Brexit and customs, to tax reliefs and incentives, and compliance.In the meantime, you can access all our expert analysis, opinions and tax guidance by visiting us on kpmg.com/uk/tax