This year marks a significant milestone: I’m celebrating 20 years leading Pentlands Accountants and Advisors. It’s also been a year of reflection, especially after receiving the Lifetime Achievement Award at the Ladies First Inspirational Awards. Recognising your achievements and taking time to reflect is a vital part of running a business.
My career began in retail, starting as a trainee at Marks & Spencer at just 16, followed by a role as personnel manager at Tesco. I later set up and ran a retail fashion business, but the demands of the job proved difficult to balance with raising two young children. That’s when I changed direction, enrolling in the ACCA qualification at college, securing a part-time role at Edwards and Pentlands in Warwick and then qualifying in 2004. At 34, I was part of a management buyout of the practice, and in 2010 I acquired the remaining partner’s share. That moment marked a turning point.
Businesses are paying the highest taxes since I started the firm – clients are feeling the pressure
Drawing on my retail background, I wanted to build a practice rooted in strong client relationships. We made the bold decision to work exclusively with businesses that have at least £100,000 annual turnover. It was a tough call at first – we had to turn down prospects – but today, our largest client has a turnover of £50m. As registered auditors, we’re also able to support clients as they grow and reach audit thresholds.
Like many practices of our size (we are a team of 10), we face constant change. The pandemic brought the fastest pace of transformation, along with the significant changes in tax legislation and introduction of Making Tax Digital. One of the biggest challenges is the unpredictability of HMRC: deadlines shift, announcements are delayed or scrapped, and trust in new policies is hard to maintain, yet we must still prepare for them.
The current economic climate presents hurdles. Rising inflation, interest rates and political shifts both in the UK and globally have led to increased taxes and uncertainty. UK businesses are now paying the highest tax levels in the 20 years I’ve run this firm, and our clients are feeling the pressure. In this environment, maintaining profit is a challenge, let alone achieving consistent growth.
Outside of work, I cherish time with family and friends. I’m blessed with two beautiful young grandchildren who’ve brought a joyful new dynamic to life. I also love to travel and raise funds for charities – for example, doing a fire walk or a parachute jump.
