Financial Therapy - Three Minute session with David Grunberg
CHANGES – AS DAVID BOWIE SANG
“Turn and face the strange changes – there’s gonna have to be a different man”.

April is always a time of change for us accountants, me especially. The end of the previous tax year and the beginning of a new one is not only the perfect time for reflection, but also gives us the opportunity to look ahead.

The UK is undergoing massive changes at the moment and so I hope my latest missive will look ahead at what the future may hold.

David Grunberg


A brave new role

As of 1st of April 2019, I relinquished my position as Senior Partner at Grunberg & Co, but don’t worry, I am not going anywhere.

I am taking up an exciting new role at the firm as a consultant, which means that I will remain available as and when my services are required.

The new role will allow me the time to be involved with assisting in more complex matters and lending my support to the very capable Partner team at Grunberg & Co.

Some of you may have questions about my changing role and I would welcome your questions. Please feel free to contact me via the usual channels and I would be delighted to explain and assist.

As for the Grunberg Financial Therapy newswire, that is firmly here to stay, so I hope you continue to enjoy my musings.


A long and winding road

By now, most people are sick of the word Brexit. Every day brings a new twist.  The whole processes has been exhausting for businesses, who have been passed from pillar to post the last few months, creating a great amount of uncertainty.

However, despite the doom and gloom, one positive aspect has emerged for residents in London – house prices are falling.

You might well ask why this is a good thing for Londoners. Thanks to falling house prices, now might be the perfect time to review your Inheritance Tax plan to see whether you can minimise your liabilities.

It may also be a good time to invest in additional properties that are now available at a lower price in some areas of London, but if you are considering this it is best to seek expert advice.

As an alternative, while many British businesses may be focused on their future relations with Europe, they may be missing out on the greatest opportunity yet – China.

China recently announced improved GDP growth rates of 6.4% – some of the strongest rates of growth in the world – and it is increasingly likely that it will become the dominant economy in the world.

With so many opportunities available in that country, it is amazing to me to see that so few British businesses are seeking to take advantage of what is on offer.

I appreciate that trading with China throws up its own unique set of challenges, not least the language barrier, but that is where our close connections with Reanda International, via our own subsidiary Reanda UK, can help.

Grunberg & Co are already working with a number of successful Chinese entities and we have developed some close relationships with our partners in that country.

What’s more, our dedicated China desk includes native speakers, who can assist you with your trade relations by acting as a bridge between you and your Chinese connections.

To get a greater appreciation of how Reanda UK could help you, why not contact our team or visit www.reanda-uk.com.


Oh Canada!

The land of maple syrup and home of ice hockey, Canada is a dream location for many people wanting to try something different.

So, it was no surprise that our team got very excited when one of our Partners (who shall remain unnamed) kindly donated an all-expenses-paid trip for our end of year charity raffle.

After much waiting, Asha Kara and Revel Nembhard were declared the winners and have just returned from their memorable trip to Canada this month, where they thoroughly enjoyed all that the country had to offer!

In today’s competitive marketplace, it can be hard to retain talented staff, which is why it is essential that businesses do all they can to enthuse their team.  We encouraged staff to take part in last years’ charity raffle as part of our CSR initiative, to raise funds for our chosen charity of the year.

We regularly invest in training for our team and support them with their ambitions, which is why we have such good staff retention rates.

If anyone is struggling with staff retention and would like advice, I would be happy to pass you my thoughts, so just give me a call.


Helping you to pass on your wealth to the next generation

Over the last year, we have been further developing our probate services and now have an increasing number of clients using our services.

In most cases, as we already handle a substantial amount of your personal financial affairs, we are in the ideal position to help you pass on your wealth to your beneficiaries.

We remain one of only a handful of accountancy firms in the UK to offer a dedicated in-house probate service and we are really proud of the high-quality advice that our team can offer.

To get a greater appreciation of our probate services, please visit
https://www.grunbergprobate.co.uk/.