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<strong>Little</strong> <strong>Book</strong> <strong>of</strong> <strong>OneE</strong>
Welcome to the <strong>Little</strong> <strong>Book</strong> <strong>of</strong> <strong>OneE</strong>...<br />
Contents<br />
<strong>OneE</strong> is on a journey................................................... 2<br />
Where we’ve come from.............................................. 3<br />
Our world..................................................................... 7<br />
Where we’re going...................................................... 9<br />
Why are we doing this?.............................................. 11<br />
How do we do that?................................................... 13<br />
What do we provide to clients?.................................. 14<br />
What do pr<strong>of</strong>essional advisers get?............................ 15<br />
Our aims and vision................................................... 16<br />
Our brand promise..................................................... 17<br />
How do pr<strong>of</strong>essional advisers and clients see us?.... 19<br />
How do we communicate?........................................ 21<br />
What part do you play?............................................. 22<br />
Responsible business............................................... 23<br />
Our clients................................................................. 24<br />
Our community.......................................................... 25<br />
Our People................................................................ 26<br />
How does everyone fit together?.............................. 27<br />
Business objectives.................................................. 29<br />
1
Like any ambitious business,<br />
<strong>OneE</strong> is on a journey...<br />
We recognise you, our people, are our<br />
biggest asset, and that we have a<br />
responsibility to <strong>of</strong>fer you fulfilling and<br />
meaningful careers that enrich and develop<br />
your skill-sets and life experiences<br />
We also want to earn the respect <strong>of</strong> our<br />
clients, suppliers and business associates<br />
by being known for our high level <strong>of</strong> tax<br />
expertise and efficient service.<br />
In order for this to happen, it is crucial that<br />
everyone within <strong>OneE</strong> understands our<br />
business vision and the vital role each <strong>of</strong> us<br />
plays in achieving our goals.<br />
The purpose <strong>of</strong> this book is to introduce our<br />
plan for the next few years and explain the<br />
values that will provide the foundation to our<br />
growth.<br />
By pulling together, we hope to have a<br />
sustainable business we can all be proud <strong>of</strong><br />
and to all benefit from its success.<br />
2
Where we’ve come from<br />
1st Ethical Limited was formed in October 2001, as a FCA<br />
regulated, boutique wealth advisory firm specialising in Islamic<br />
pensions and investments tailored for high net worth individuals.<br />
We soon realised there was an opportunity to also <strong>of</strong>fer wills and<br />
trust based tax planning, which in turn led to a second firm<br />
being formed; 1st Ethical Tax Consulting Limited.<br />
It soon became apparent tax planning was the one area with<br />
greatest growth potential.Consequently in circa 2007, we took a<br />
big strategic decision to focus all our energies in the tax domain<br />
and accordingly rebranded 1st Ethical Tax Consulting to <strong>OneE</strong>.<br />
The name <strong>OneE</strong> is actually derived from 1st Ethical (we changed<br />
the 1st, to One and shortened Ethical to E).<br />
1st Ethical itself was converted to an educational charity<br />
focusing on financial literacy and social responsibility, and has<br />
donated £5M+ to good causes thus far, almost all <strong>of</strong> which was<br />
donated to it in turn by <strong>OneE</strong>.<br />
By focusing exclusively on tax advisory services to small<br />
businesses and their owners , <strong>OneE</strong> was able to quickly<br />
establish itself nationally a leading tax advisory firm, and<br />
enjoyed stellar year and year growth over the period 2007 –<br />
2013, recgonised by a string <strong>of</strong> prestigous national awards.<br />
2006<br />
2008<br />
2009<br />
2010<br />
3
2011<br />
20<strong>12</strong><br />
2014<br />
4
The credit crunch in 2008 and<br />
the resulting financial crisis<br />
didn’t impact us<br />
immediately (as with<br />
many businesses in the<br />
financial sector) but<br />
the UK government’s<br />
desire to address the<br />
deficit by collecting<br />
more tax sparked<br />
an increased<br />
interest in tax<br />
policy from the<br />
media and<br />
general public.<br />
2015<br />
2016+<br />
The “Jimmy Carr”<br />
furore in 20<strong>12</strong> was<br />
the beginning <strong>of</strong> a<br />
pr<strong>of</strong>ound shift in<br />
public sentiment<br />
towards the tax<br />
industry, and in the<br />
Summer <strong>of</strong> 2013 the<br />
government duly<br />
announced plans to<br />
introduce new measures in<br />
the form <strong>of</strong> a “General Anti<br />
Avoidance Rule” (later<br />
renamed “General Anti Abuse<br />
Rule” and referred to as the “GAAR”).<br />
5
Even though <strong>OneE</strong> has never <strong>of</strong>fered ‘abusive’ tax planning, the<br />
changes brought in nevertheless affected the entire industry<br />
including ourselves . We recognised a need to diversify our<br />
service <strong>of</strong>ferings, with a focus on providing more bespoke tax<br />
planning advice and also <strong>of</strong>fering tax-efficient investment<br />
opportunities to OMBs.<br />
Whilst this mission was still in it’s early days, the introduction <strong>of</strong><br />
the Accelerated Payment Notice (“APN”) regime in the Summer<br />
<strong>of</strong> 2014 forced us to fast-track our plans considerably.<br />
The resulting brand makeover in late 2014 reflected the fact that<br />
there was a new <strong>OneE</strong> in the marketplace <strong>of</strong>fering a lot more<br />
than it ever had before.<br />
We feel proud that we have successfully managed over a pretty<br />
short period to transition from <strong>of</strong>fering a relatively narrow range<br />
<strong>of</strong> services to small businesses and their owners to becoming a<br />
holistic tax advisory service, helping our clients and their<br />
pr<strong>of</strong>essional advisors to grow and prosper.<br />
This was no mean feat!<br />
But it doesn’t end there. This hard work has taught us a lot and<br />
put us in an great place to now embark on our next mission …<br />
one <strong>of</strong> further growth and sustainability.<br />
We want you to be a part <strong>of</strong> that mission.<br />
6
Our World<br />
Every business needs to keep up with the changing world<br />
that surrounds it. In our field this is especially true; every<br />
year, the Chancellors ‘spring budget’ and ‘autumn<br />
statement’ will alter our landscape<br />
Given the fallout from the credit crunch, there is greater<br />
awareness <strong>of</strong> tax and emphasis on “responsible” tax<br />
planning people “paying their fair share”.<br />
Consequently tax solutions which may have been perfectly<br />
appropriate yesteryear, including some <strong>of</strong> the planning we<br />
used to <strong>of</strong>fer, are simply no longer viable.<br />
We therefore find<br />
ourselves on a<br />
mission to persuade<br />
pr<strong>of</strong>essional advisors<br />
that the future <strong>of</strong> tax<br />
planning has<br />
irrevocably changed.<br />
7
Moreover, by working together, we all have a rare and<br />
valuable ‘window <strong>of</strong> opportunity’ to establish ourselves as<br />
market leaders <strong>of</strong> responsible tax planning in this new<br />
world.<br />
Underpinning our excitement is the recognition technology<br />
is improving at a rapid pace and we find ourselves in the<br />
midst <strong>of</strong> a digital revolution. The pr<strong>of</strong>essional advisory<br />
sector is probably amongst the final few industries yet to<br />
fully embrace the possibilities that these changes can<br />
bring. We feel that as a young and dynamic firm, known for<br />
our innovative and efficient approach, we will lead the way<br />
to a brighter future in the tax planning industry.<br />
8
Where we’re going<br />
Our brand makeover in October 2014 was<br />
just the start <strong>of</strong> a dramatic programme <strong>of</strong><br />
transformation, one which is absolutely<br />
crucial if we want to remain a leader in<br />
providing innovative and efficient services to<br />
pr<strong>of</strong>essional advisors and their high net<br />
worth clients.<br />
The next chapter is about to begin and we<br />
have big ambitions!<br />
One challenge is to broaden our range <strong>of</strong><br />
pr<strong>of</strong>essional intermediaries to encompass<br />
not only accountants, but also solicitors,<br />
wealth managers, IFAs and estate agents).<br />
Whilst these market sectors have always<br />
existed, it is only now that we can properly<br />
diversify and grow to handle the scale <strong>of</strong><br />
business that we expect to attract.<br />
9
Our proposition has been refined and there<br />
are three main angles <strong>of</strong> attack:-<br />
• We need to simplify the process <strong>of</strong> pro-actively<br />
and efficiently diagnosing tax issues and<br />
market this in its own right as an online scalable<br />
tool which intermediaries can use to better serve<br />
their clients.<br />
• We need an efficient and focussed<br />
approach to both selling and implementing our<br />
“Tax Partner on Demand” and “Tax Dispute<br />
Resolution” services<br />
• We need to split out the Investments side <strong>of</strong><br />
our <strong>of</strong>fering into a new brand which has a specific<br />
remit <strong>of</strong> marketing non-mainstream Investments<br />
that are creative, diversified, responsible,<br />
high-yielding and dynamic.<br />
To achieve these objectives we need to<br />
work smarter and slicker than ever before.<br />
And to do this we need every single<br />
member <strong>of</strong> our team working together and<br />
pulling in the same direction.<br />
10
Why are we doing this?<br />
It is easy to forget the reason that we’re here<br />
when things are changing all around us.<br />
Now is a good time to remind ourselves <strong>of</strong><br />
this.<br />
In a word, it’s about “growth”<br />
In a sentence you’d probably<br />
say - “We feel<br />
passionately about<br />
stimulating growth”<br />
11
But to really explain how this works, you<br />
need two sentences:-<br />
We support small to<br />
mid-tier pr<strong>of</strong>essional<br />
advisors to enable their<br />
clients’ businesses to<br />
grow (which in turn<br />
grows their own<br />
business). This results<br />
in our own growth<br />
and also ultimately will<br />
contribute to the<br />
growth <strong>of</strong> UK PLC.<br />
….See, we told<br />
you it was all<br />
about growth!<br />
<strong>12</strong>
Great, so how do we do that?<br />
We provide pr<strong>of</strong>essional firms with<br />
on-demand access to expert tax<br />
advice, specialist tax dispute<br />
resolution services and attractive<br />
investment opportunities for their<br />
owner managed business and high<br />
net worth clients. This makes their<br />
lives easier and their businesses<br />
more pr<strong>of</strong>itable. And yep, you<br />
guessed it, this leads to growth.<br />
We are in the business <strong>of</strong> selling<br />
our expertise and believe we do so<br />
efficiently and effectively. But, we<br />
can always do better!<br />
13
Ok, but what do we actually<br />
provide to clients?<br />
• Corporate tax advice<br />
• Private client tax advice<br />
• International tax planning<br />
• Property tax advice<br />
• Tax efficient investment opportunities<br />
• Tax dispute resolution services<br />
• Support with HMRC enquiries<br />
• Trustee services<br />
14
And what do Pr<strong>of</strong>essional Advisors get?<br />
• Access to leading tax expertise & ideas<br />
• On-demand tax advice<br />
• Business development support<br />
• Access to online web-portal<br />
• Regular legislative updates<br />
• Access to free webinars and other events<br />
• Premium commission rates<br />
15<br />
16
Our aims and vision<br />
Our aim is to be recognised as experts in tax advisory and<br />
tax disputes work and to be the partner <strong>of</strong> choice for<br />
pr<strong>of</strong>essional advisors.<br />
We believe our expertise and efficient approach adds<br />
value to a pr<strong>of</strong>essional advisor’s practice. It enables them<br />
to better serve their clients, identify new business<br />
opportunities, maximise their revenues, and reduce risk, all<br />
resulting in positive business growth in the owner managed<br />
business sector.<br />
We want to be recognised as champions <strong>of</strong> growth for<br />
OMBs and the pr<strong>of</strong>essional advisors who support them.<br />
16
Our brand promise<br />
To be a one-stop shop for expert tax advice<br />
and tax dispute resolution services.<br />
Approachable experts, our team has many<br />
years <strong>of</strong> experience, good working<br />
relationships with HMRC and close links to<br />
leading industry bodies, meaning we can<br />
<strong>of</strong>fer comprehensive technical support and<br />
expertise delivered efficiently.<br />
17<br />
18
18
How do Pr<strong>of</strong>essional Advisors<br />
and Clients see us?<br />
Our brand values sit at the core <strong>of</strong> our<br />
approach with our pr<strong>of</strong>essional advisors and<br />
clients, they define how we work and what<br />
we believe in.<br />
CREDIBLE<br />
Our history speaks for itself.<br />
Our expertise and ability to<br />
handle complex tax advisory<br />
queries and tax disputes is<br />
second to none.<br />
19<br />
EXPERTS<br />
We know tax is an incredibly<br />
complex subject. That’s why<br />
we’re here – to remove the<br />
barriers to solving complex tax<br />
problems and tax disputes. We<br />
work closely with pr<strong>of</strong>essional<br />
advisors to provide practical<br />
and effective solutions to their<br />
clients’ challenges
FORWARD THINKERS<br />
With a keen eye on upcoming<br />
and future changes in the<br />
political environment,<br />
economic markets, as well as<br />
legal changes, we continually<br />
adapt our services to best<br />
serve pr<strong>of</strong>essional advisors<br />
and their clients.<br />
INNOVATIVE<br />
Always at the forefront <strong>of</strong><br />
innovative tax planning, we<br />
think much wider than the<br />
basics and employ efficient<br />
methods <strong>of</strong> providing our<br />
services to save everybody<br />
time.<br />
INTEGRITY<br />
We act with integrity and<br />
comply with the letter and<br />
spirit <strong>of</strong> the law. As an<br />
independent firm, we<br />
provide the best and most<br />
appropriate advice for<br />
pr<strong>of</strong>essional advisors and<br />
their clients’ needs.<br />
20
How do we communicate?<br />
We need to convey <strong>OneE</strong>’s personality and<br />
our values in a clear and consistent way,<br />
channelling our expertise across all our<br />
communication channels.<br />
Our audience is smart, so think pr<strong>of</strong>essional<br />
tone. However, we don’t want to come<br />
across as being overly formal or staid.<br />
CREDIBLE EXPERTS / TRUSTED PARTNER<br />
Think authoritative expert, but not arrogant or overbearing.<br />
We listen to pr<strong>of</strong>essional advisors’ needs and want them to<br />
feel that we’re a seamless extension <strong>of</strong> their team.<br />
INNOVATIVE, FORWARD-THINKERS<br />
Think agile and creative. We don’t stay with the norm, or<br />
follow the pack. We lead the way.<br />
INTEGRITY<br />
Think honest, approachable and helpful. We do the right<br />
thing at the right time.<br />
21
What part do you play?<br />
Every member <strong>of</strong> the <strong>OneE</strong> team has an important<br />
part to play in helping the business achieve its<br />
objectives.<br />
By understanding where we are going,<br />
coordinating our efforts and making sure that<br />
we’re all pulling in the same direction, we will<br />
achieve our goals and everyone associated with<br />
<strong>OneE</strong> will benefit as we grow together.<br />
22
Responsible business<br />
<strong>OneE</strong> is committed to responsible tax advice and<br />
providing innovative, value-led solutions that meet our<br />
clients’ commercial objectives.<br />
We want to help the small and medium enterprises within<br />
our economy to prosper and grow, which in turn will<br />
support wider economic growth.<br />
We are also uniquely positioned to have a voice within<br />
the debate <strong>of</strong> what ‘responsible’ tax advice should look<br />
like. <strong>OneE</strong> will be working with its network <strong>of</strong><br />
stakeholders to ensure that our sector remains important,<br />
valid and relevant in the current political and<br />
economic climate.<br />
23
Our clients<br />
We are committed to the responsibilities we owe to our<br />
clients and their pr<strong>of</strong>essional advisors.<br />
So we always:-<br />
Operate with excellence, through<br />
• Expertise<br />
• Compliance<br />
• Attention to detail<br />
Add value, through<br />
• Efficiency<br />
• Innovation<br />
• Continual improvement<br />
Go the extra mile, by<br />
• Delivering a gold standard service every time<br />
• Placing ourselves in our clients’ shoes<br />
• Demonstrating we understand their objectives<br />
"Do what you do so well that they will want to<br />
see it again and bring their friends."<br />
Walt Disney, The Walt Disney Company<br />
24
Our community<br />
We are not an island. We are a<br />
member <strong>of</strong> the community that<br />
surrounds us, both locally and<br />
nationally.<br />
We encourage our staff to be proud<br />
<strong>of</strong> the communities we live and work<br />
in and we will support them in their<br />
own endeavours to get involved in<br />
making these a better place,<br />
whether through enabling charity<br />
fundraising or supporting individual<br />
projects that utilise the skills they<br />
have gleaned during their time with<br />
us.<br />
<strong>OneE</strong> believe we can and should<br />
contribute in three key areas:-<br />
•<br />
•<br />
•<br />
Education (inspiring the next generation)<br />
Enterprise (supporting SMEs and social enterprises)<br />
Encouraging Financial literacy<br />
A business that makes nothing but<br />
money is a poor business.<br />
~ Henry Ford<br />
25
Our People<br />
Our people are our most valuable asset.<br />
Much more than a group <strong>of</strong> individuals, <strong>OneE</strong> is a talented<br />
and high-performing team. As with any group <strong>of</strong> people,<br />
each and every one <strong>of</strong> us is different. In our team,<br />
everyone has a crucial role to play in helping us all to<br />
develop and flourish.<br />
<strong>OneE</strong> is committed to a strategy for personal growth and<br />
pr<strong>of</strong>essional development underpinned by competitive<br />
salaries that not only recognises the differences between<br />
each <strong>of</strong> us, but that takes full advantage <strong>of</strong> those<br />
differences.<br />
In our dynamic and stimulating environment, we support<br />
our team by providing a stimulating and safe place to work<br />
that supports the wellbeing <strong>of</strong> everyone and respects and<br />
indeed celebrates the individuality <strong>of</strong> each person.<br />
We believe our unique approach creates leaders faster<br />
than anywhere else. But we also know that some people<br />
don’t want to lead and they too can flourish with us to<br />
become experts in their own discipline.<br />
The emphasis we place on our people is recognised in<br />
various ways, including our Living Wage accreditation, our<br />
Investors in People status and our membership <strong>of</strong><br />
Business in the Community with its strong focus on<br />
employee wellbeing.<br />
Everybody is a genius. But if you judge a fish by its ability to climb a tree, it<br />
will live its whole life believing that it is stupid<br />
~ Albert Einstein<br />
27
How does everyone fit together?<br />
Dominic<br />
Slattery<br />
Managing<br />
Director<br />
Bashir<br />
Timol<br />
Strategic<br />
Director<br />
Gary<br />
Rowson<br />
Technical<br />
Director<br />
Gwilym<br />
Davies<br />
Business<br />
Development<br />
Director<br />
Disputes &<br />
Investigations<br />
Business<br />
Development<br />
Business Development<br />
Support<br />
Marketing<br />
28
Chris Duffy<br />
Head <strong>of</strong><br />
Distribution<br />
Distribution<br />
Timothy<br />
Johnson<br />
Technical<br />
Director<br />
Investments Technical<br />
Development<br />
Lindsey<br />
Daniels<br />
Operations<br />
Director<br />
Finance<br />
Tax Partner on<br />
Demand<br />
IT/Facilities<br />
Helpdesk<br />
Business Analysis<br />
Directors' Support<br />
Office Support<br />
Compliance<br />
Graduate Team-<br />
Implementation and<br />
HMRC Enquiries<br />
R&D<br />
28
Manage<br />
resources to<br />
meet the<br />
needs <strong>of</strong> the<br />
business plan<br />
Deliver projects<br />
within time and<br />
on budget<br />
Culture shift<br />
to one <strong>of</strong> a<br />
learning and<br />
improvement<br />
led organisation<br />
Optimise learning<br />
and development<br />
for our direct<br />
employees<br />
Demonstrate<br />
our commitment<br />
to quality and<br />
excellence and<br />
practice what<br />
we preach<br />
Become industry<br />
thought leaders<br />
and an employer<br />
<strong>of</strong> choice<br />
Continue to add<br />
value to<br />
customers by<br />
evolving<br />
proposition<br />
(Core and VAS)<br />
29<br />
Learning and Growth
CAUSES/ENABLES<br />
Provide excellent<br />
systems for<br />
customers and<br />
employees<br />
Maintain and<br />
improve supplier<br />
partnerships<br />
Be efficient<br />
and effective<br />
in everything<br />
we do<br />
Maintain<br />
effective cash<br />
collections to<br />
minimise cost<br />
<strong>of</strong> money<br />
Minimise<br />
business<br />
losses<br />
Internal Business Process<br />
30
Achieve high<br />
levels <strong>of</strong><br />
satisfaction<br />
Grow sales<br />
through<br />
innovating and<br />
evolving existing<br />
products and<br />
services<br />
Maximise<br />
retention <strong>of</strong><br />
customers<br />
Maximise<br />
customer<br />
revenues<br />
and proÞtability<br />
Win new<br />
agency partners<br />
with acceptable<br />
margins<br />
31<br />
Customer
EFFECT/RESULTS<br />
Contain<br />
overheads and<br />
achieve value<br />
for money<br />
Maintain<br />
sustainable<br />
growth in both<br />
income and<br />
throughput<br />
Manage our cash<br />
effectively<br />
Achieve our<br />
annual goals to<br />
meet stakeholder<br />
expectations<br />
Financial<br />
32
Our targets<br />
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