MHA Motor Finance Director Forum
MHA MacIntyre Hudson LLP is proud to have hosted the sixth MHA Motor Finance Director (FD) Forum, which took place at MK Dons Stadium on 25Th October 2017. Hosted and led by Steve Freeman, Partner and National Head of Motor, and Ben Campbell Motor Advisory Manager, the event was attended by over 30 Finance Directors and other executives from the Motor Retail Sector.
Steve Freeman said “I am delighted to see so many Finance Director’s and sector advisors learning from one another. The MHA Motor FD Forum is a great platform and opportunity to share best practice in areas such as Motor Deals, Cost Reduction, IT, GDPR and Motor Taxes, adding considerable value to those who attended.”
Ben Campbell added “With the current developments in the sector and pressures on profit, it is great to have sector insight and best practice from those who know Motor Retail best and are able to provide solutions to the current and upcoming challenges faced.”
The MHA Motor FD Forum’s intention is to support dealership Finance Directors by providing guidance on the issues that “are on the mind of the dealer group FD” and enable the sharing of benchmarking and best practice, as well as providing sector technical updates on compliance and other sector specific risks and opportunities.
The group meets 6-monthly and has its own LinkedIn group. The group has a membership comprising over 60 FD’s of generally larger motor dealer groups, with a good proportion of those being Top 100.
There were excellent presentations from sector leaders such as Mike Allen of Zeus Capital, who provided an insightful review and outlook on the Motor Retail Sector, along with Jon Beveridge who covered the deal environment and strategic landscape for the sector. Jon has recently formed an alliance with our MHA Motor Advisory and CF teams in supporting our Motor clients on deals and other strategic opportunities.
GDPR and Cyber Security are fundamental to all business and excellent presentations from Jon Hutchinson of Motor specialist legal firm "Pitmans", Andy Flinn of "RDS Global" and Lee Cohen of "Hamilton Leigh" provided insight and advice as to what is coming and how to prepare for the risks inherent within the upcoming GDPR regulations, enhance Cyber Security protection and maximise the efficiency of your insurance cover.
MHA MacIntyre Hudson’s market leading tax team comprising of Glyn Edwards (VAT), Nathan Sutcliffe (Corporate Taxes), Nigel Morris (Employee Tax and Company Cars) and Marcus Bull (Wealth Planning and Pensions), identified a number of specific tax and cost reduction plus wealth creation benefits and opportunities in the form of the VAT treatment of Dealer Deposit contributions, structuring operations and maximising Capital Allowances and implementing an ECOS scheme plus pensions planning.
Gary Smith from "Optimising IT" highlighted the efficiency savings in investing and streamlining the IT process at both the pre and post-acquisition stages for acquisitive and fast growth dealer groups, as well the key components of a successful IT strategy that they have recently successfully delivered to a very large dealer group.
To be provided with the outputs from our latest MHA Motor FD Forum or to find out more please contact Steve Freeman or Ben Campbell.