In this month’s client spotlight, we share the success of DD Cooling Limited. First established in 2007 by Director, Dave Dobson, it has grown to employ 50 staff and provides air conditioning and refrigeration services across the UK.

In 2021 with Rotherham Taylor’s help the company successfully transitioned to an Employee Ownership Trust (EOT), joining the likes of Richer Sounds and John Lewis to be owned for the benefit of all employees.

One of the company’s recent projects has been the internal fit out of Fleetwood Seafood & Fish Processing Park.

This has supported the construction of a purpose-built 42,000 square foot modern commercial Seafood & Fish processing facility.

The existing six fish processing companies have all moved into the new facilities situated around the docks at Fleetwood.

The new facility included a new fish auction hall, processing factory, a smoking kiln and a recycling centre for all the polystyrene boxes.

The eight individual industrial unit fitouts comprised of more than 30 individual panelled rooms including freezers, fridges, processing areas and ice rooms.

Over 35 insulated doors were also supplied, including rapid roll, sliders and hinged doors. For the day offices in the processing area, DD Cooling Limited supplied windows suitable for temperature-controlled environment.

26 individual Refrigeration systems were also installed as part of project, including heat recovery, the heat recovery system recovers excess heat from the refrigerant and preheats hot water to approximately 50^oC to supply the hot water heaters.

Our team at Rotherham Taylor are proud to have supported DD Cooling Limited as it goes from strength to strength, providing guidance and support to help grow.

For many years, pensions have quietly played a starring role in estate planning, as a means of reducing a potential Inheritance Tax (IHT) bill.

Unlike property or savings, pension pots have often sat neatly outside the estate, protected from Inheritance Tax and allowing beneficiaries to receive value with relatively little erosion.

That landscape is now shifting following successive Budgets, which have introduced proposed changes to the treatment of unspent pensions for Inheritance Tax from 2027, followed by expected reforms to salary sacrifice arrangements from 2029.

Combined, these changes are likely to result in smaller pension pots over a person’s lifetime.

However, even though savings may be reduced, their inclusion as part of the estate may drag many more families into the IHT regime.

How pensions have traditionally been treated

At present, most defined contribution pensions do not usually form part of an individual’s estate for Inheritance Tax purposes.

Instead, they sit outside the estate and are paid at the discretion of pension scheme trustees.

This has made pensions particularly attractive. Funds could often be passed IHT-free, accessed flexibly by beneficiaries and in some cases withdrawn free of Income Tax where death occurred before the age of 75.

For this reason, many people have deliberately preserved their pension pots during retirement, choosing to draw on other assets first.

The impact of unspent pension changes from 2027

From 2027, unused pension pots may be brought within the scope of IHT on death.

This represents a fundamental shift in thinking. Instead of sitting cleanly outside the estate, pension funds could face tax of up to 40 per cent.

However, more importantly, when combined with other assets, the value of pension pots is likely to draw more of the whole estate into the scope of IHT.

From a probate perspective, the change also introduces added complexity, with pension values needing to be carefully reported and factored into the overall estate position.

Salary sacrifice reforms from 2029

At the same time, further changes are expected from 2029 in relation to salary sacrifice arrangements.

Salary sacrifice has long been a tax efficient way for employers and employees to boost pension contributions.

Reforms in this area may reduce its appeal, potentially slowing the growth of pension pots in the years leading up to retirement.

When combined with the proposed IHT changes, this creates a double impact. Not only could pension pots be smaller, but more of their value could be lost to tax on death.

What this means for probate planning

Together, these developments mark a clear shift in how pensions should be viewed within estate planning.

From a probate standpoint, executors and administrators may find themselves dealing with pension assets in ways they have not previously encountered, often requiring closer coordination with pension providers and other professional advisers.

For those planning ahead, the changes raise important questions. It may no longer be sensible to preserve pension wealth at all costs and in some cases accessing pensions earlier could reduce future Inheritance Tax exposure.

It also becomes increasingly important to view pensions alongside other assets, such as property, investments and business interests, rather than treating them as a separate and protected category.

Planning for pension reform

Pensions will remain a valuable part of retirement planning, but their role as an estate planning tool is clearly evolving.

Probate planning is no longer just about property and cash. Understanding how pensions fit into the estate and how future changes may affect their value, is now key to avoiding unwelcome surprises and protecting as much wealth as possible for the next generation.

If you would like guidance on this or any other probate or estate planning matters, please get in touch.

We think it is time to shine a light on Dext and, in particular, how it works seamlessly with Xero to simplify day-to-day bookkeeping.

Dext is a powerful automation tool designed to remove the manual admin from receipts, invoices and expenses.

When combined with Xero, it creates a smooth, end-to-end bookkeeping process that saves time, reduces errors and keeps your financial records up to date.

How Dext works with Xero

Dext captures receipts, invoices and bills, then automatically extracts the key data before sending it directly into Xero. This means no manual data entry and no chasing paperwork.

You can simply take a photo of a receipt or upload an invoice, whether you are in the office or on the go.

Dext pulls in documents directly from suppliers, email inboxes and bank feeds, helping prevent delays and bottlenecks in your bookkeeping.

Once the data is extracted, it flows straight into Xero, ready for reconciliation and reporting.

Built for growing businesses

For businesses selling online, Dext can also connect with platforms such as Shopify, Stripe and PayPal, ensuring sales data flows neatly into Xero and many other platforms without adding complexity.

All documents are stored securely in the cloud, organised intelligently and available whenever you need them.

Try it for yourself

Dext offers a 14-day free trial, giving you full access to its core features and enough time to see how it fits with your business and your Xero setup.

With tens of thousands of firms and hundreds of thousands of businesses already using Dext to streamline their bookkeeping, it is a powerful addition to any Xero-based accounting process.

If you would like help implementing Dext within your business and connecting its powerful features to your Xero account, please get in touch.

We are pleased to welcome Max Hopkinson to Rotherham Taylor as our newest trainee accountant.

Max is currently working towards his ACCA qualification and is building his experience across the team.

He particularly enjoys the problem-solving side of accountancy, finding there is a real sense of achievement in working through challenges and arriving at the best solution.

While managing multiple deadlines can be demanding, Max says it has helped him develop strong organisational skills and stay focused, especially during busy periods.

He credits his colleagues as a key source of inspiration, valuing the support and teamwork around him as he continues to learn and progress.

Outside of work, Max keeps active by playing table tennis, football and training in the gym, helping him unwind after a busy week.