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Planning for what lies ahead: S&W

Accountancy and advisory firm S&W has strengthened its private client offering in the North East following the addition of specialist tax practice Peppercorn Tax. The move has brought partners Emma Glover and Kelly Morgan, together with their team, into S&W’s Newcastle office, combining their local knowledge with the resources and expertise of a national firm. Here, Emma discusses the benefits of joining a larger organisation, the importance of building lasting client relationships and why looking at the bigger picture is increasingly vital in a changing tax landscape.

When it comes to protecting family wealth, planning for the future is rarely straightforward.

From passing businesses and assets between generations to navigating changing tax rules, the decisions made today can have significant implications for years to come.

And with personal circumstances, family dynamics and financial priorities often adding further complexity, the importance of clear, forward-thinking advice has arguably never been greater.

They are challenges Emma Glover, partner at accountancy and advisory firm S&W, regularly encounters when advising individuals, families, landowners and business owners on inheritance tax, succession planning, trusts and intergenerational wealth transfer.

Her work involves navigating not only tax complexities, but also the personal dynamics and competing interests surrounding wealth and succession.

She says: “We look at people’s wealth, what their plans are and try to look into the future.

“It’s a little like looking into a crystal ball.

“The tax landscape changes constantly, so part of our role is to help clients anticipate what’s coming next, rather than reacting after the fact.”

That forward-looking approach spans inheritance tax and capital gains tax planning, alongside succession advice for high-net-worth individuals, entrepreneurs, family businesses and landowners across the North East and beyond.

And as tax rules evolve and long-standing reliefs become less advantageous, Emma says specialist advice is increasingly important.

She adds: “We do a lot of work for farmers and landowners.

“They face a lot of tax complexities, but almost all of them are solvable if they get the right advice.”

This is particularly relevant in the North East, where significant wealth is often tied up in land, farming businesses and family-owned enterprises passed down through generations.

Much of the team’s work involves helping families preserve wealth for future generations through trusts, gifting strategies and wider succession planning.

Emma also highlights upcoming changes to inheritance tax on pensions as a significant shift facing clients.

She says: “A lot more people will benefit from taking advice about that who may never have needed tax advice before.

“Previously, pension pots could often pass to children without inheritance tax – so this is going to change the conversation for a lot of families.

“These kinds of changes are exactly why keeping ahead of the rules and planning early is so important.”

While every client’s circumstances differ, Emma believes many potential problems can be addressed through early, carefully structured advice.

She adds: “Good tax advice is worth taking; in 99 per cent of cases it pays for itself.”

For Emma, the value of specialist advice is something she understands from both supporting clients and running her own business.

Last year, Peppercorn Tax – the specialist advisory firm she founded alongside fellow director Kelly Morgan – was acquired by S&W as part of its continued North East expansion.

Established nearly nine years ago, Peppercorn grew from a specialist tax practice into an eight-person advisory firm serving clients across the region.

Emma says: “We started from scratch.

“At the beginning, we did tax advice and tax returns, but over time we expanded because we were turning work away.”

As the business developed, Emma and Kelly began looking for a larger platform offering greater resources and specialist support.

Having known S&W’s regional managing partner Donna Bulmer and her team for years, Emma was confident the firm offered the right cultural fit and expertise.

She adds: “We were looking for greater resources to help service our clients.

“We thought it would be a really good match, and that has turned out to be the case.”

Emma, Kelly and six colleagues subsequently moved into S&W’s Queen’s Lane Newcastle office, strengthening the firm’s regional presence.

The move has broadened the team’s capabilities and the support available to clients.

Emma says: “There’s a great depth of knowledge here.

“There are some really brilliant tax experts in very niche areas, and not necessarily just in Newcastle – they could be anywhere in the country.”

Access to that national network has enabled the team to collaborate more widely and draw on expertise that may previously have been beyond the reach of a smaller independent firm.

Emma adds: “The horizons have expanded greatly.

“What we do is fundamentally problem solving, so having that depth of expertise around you is incredibly valuable.”

The move has also enabled Emma and Kelly to concentrate more on advisory work, supported by the infrastructure of a national firm.

Yet despite the increased scale, Emma says the team’s relationship-led approach remains unchanged.

She adds: “The fundamentals are the same.

“It’s still about helping people, building relationships and giving clients the best possible advice.”

This was posted in Bdaily's Members' News section by Bdaily Publishing .