Greenham Business Park, 2 Communications Road
July 8, 2021
July 8, 2021
July 2, 2021
TP-Link is a global provider of reliable networking and wi-fi devices and accessories, distributing to more than 170 countries and serving billions of people worldwide. Its products include ‘smart’ bulbs, plugs and cameras for people’s homes and cloud solutions, routers and high-speed wired and wireless networking for businesses.
TP-Link UK’s group auditor is Kreston Reeves, led by Peter Manser. During 2020, the company carried out a restructure. This meant that TP-Link NL needed a group audit to reflect the new corporate structure and Kreston Reeves referred the company to Van Herwijnen Kreston (VHK). After a short proposal process, TP-Link NL appointed VHK as its group auditor. They are also advising on income tax assessment, general tax matters and our Dutch firm Bentacera is assisting in transfer pricing support and documentation.
This successful outcome demonstrates the strength and reach of the Kreston Global network. It also shows how the network can help smooth the changes many companies have to make following the UK’s departure from the EU.
Olivier Walravens, from Van Herwijnen Kreston, said:
“We were pleased to be able to help TP-Link change its group audit process so effectively and efficiently. Sharing and transferring the necessary data and documents was straightforward as Kreston firms are part of the same, secure system.”
Chris Sun, International Accountant at TP-Link NL, said:
“We’re very grateful to Kreston for making this major change so ‘smart’. It was achieved in good time and they took care of everything for us. Using firms within the Kreston network has undoubtedly saved the company time and money.”
SENER is a private engineering and technology group founded in 1956. It seeks to offer its clients the most advanced technological solutions and enjoys international recognition for its commitment to innovation, its quality and for its independence.
SENER has nearly 2,500 professionals across its centers in Algeria, Argentina, Brazil, South Korea, Canada, Colombia, Chile, China, the United Arab Emirates, Spain, the United States, Morocco, Mexico, Poland, Portugal, the United Kingdom and South Africa. It accomplishes Aerospace and Engineering and Construction activities and has industrial holdings in companies working in the field of Energy and Environment.
In 2013, SENER Group created SENER (Shanghai) Systems Company Limited to provide high quality services to Chinese clients. SENER (Shanghai) needed finance & tax consultation, accounting and personnel services to support its development. It engaged Brighture to provide these services in 2016.
Brighture provides SENER with their management accounts, tax compliance and reporting, as well as tax advisory and planning services to help mitigate tax liabilities.
“We are very focused on ensuring that we understand our client’s needs so we can be responsive and proactive with advice and solutions. Our job is to help improve our clients’ efficiency and ensure we help grow their business.“
“With respect of opinion of Brighture service, we are more than satisfactory with the service provided by Brighture. We have very easy communication with Brighture. All the reports prepared by Brighture are well organized, sent in time. The data are all correct, etc. In one word, we are very happy working with Brighture.”
Mr.Guangwu Liu
GM at SENER (Shanghai) Systems Company Limited
You receive a job application for an accountant from a well-qualified, experienced candidate.
However, for the past three years, she has been traveling on another continent and running a small online copywriting business.
Would you take her application seriously?
Chances are, you’d wonder about her commitment and she would be unlikely to make your shortlist.
But in future, that may have to change. As we live for longer, it will become much more normal for individuals to take time out of their careers – and we’ll have to welcome that.
That’s the argument made in an intriguing book, The 100-Year-Life – Living and Working in An Age of Longevity by Andrew Scott and Lynda Gratton. (Amazon US / Amazon UK)
I’ve been thinking about this recently for two reasons.
First, as we celebrate Kreston’s 50th anniversary, I’ve inevitably spent a lot of time looking into our history and considering how dramatically the business world and the workplace have changed over that period.
But that has also made me look forward, thinking about how these things will look in another 50 years and what trends we can already discern.
Second, I keep returning to the discussion I had with Kreston’s HR leaders, which I reported on in my last email.
Across the world, they seemed to find attracting and retaining good people to be a challenge – echoing the message I hear regularly from partners as well.
The 100 Year Life suggests some interesting – and potentially difficult – answers.
The authors point out that in many countries, children born today are more likely than not to live a full century. And that means that the entire structure of people’s careers is going to change.
A few decades ago, most people’s lives had three clear stages: Childhood, around 40 years of work and then retirement.
But in future, that middle stage may take up 50 or 60 years – or more. So it will be broken up with periods where we return to education, gain more skills, travel and take time out from the workplace to refresh ourselves.
Instead of pursuing a very linear job path, people will be more likely to switch between jobs and even careers, to alternate between employment and entrepreneurship and to demand more flexible working conditions.
Good, attractive employers will accommodate these changing needs, help their staff get the skills and assets they need to manage these transitions easily and work for longer.
This might mean exposing them to different parts of your business, helping them build up their networks, constantly investing in their training and education…
Accepting that there might not be a direct correlation between age, seniority and experience…
Considering candidates who nowadays might be considered “non-conventional”…
…And even helping good people “move on”.
The way people save will also change when they have to fund mid-life gap years, a return to university in their 40s or 50s, and longer periods of retirement or semi-retirement. And that will affect the way you pay them, too.
If all this is making you shudder, I understand. It’s a big mental shift. And for many firms, this will complex to manage.
You may also disagree entirely with Scott and Gratton’s argument and solutions.
But I think it’s a discussion worth having. Like all good predictions, there are already signs of these changes taking place (retirement age is creeping up and millennials’ work patterns are very different to my generation’s).
So how are we going to build workplaces that are fit for the future, so Kreston firms can attract and retain the very best people for the next 50 years?
June 24, 2021
International Tax and the Impact of Brexit
Our International Tax Leader, Mark Taylor, recently wrote a piece for the AIA in which he discusses the impact of Brexit on international tax issues and the changes to taxes for multinationals.
June 22, 2021
May 21, 2021
Kreston Global Tax Group’s webinar on the impact of Brexit on international tax structuring, held on 12 May 2021, gathered over 45 tax specialists within our Network.
The webinar focused on the impact of Brexit on tax regulations and trade across the UK, US, European and Asian markets.
Special thanks to Mark Taylor, Leader of Kreston Global Tax Group, and to all our panellists Don Reiser, Ganesh Ramaswamy, Guillermo Narvaez, Jelle Bakker, Sharon Bedford for sharing their local perspective.
Kreston members can view the event page for more information and related resources.
