BK Plus Makes It’s First Acquisition

A newly formed accountancy firm based in the West Midlands has made its first acquisition.

BK Plus, which was recently set up by David Baldwin and Shaun Knight, has bought Chapman Nash accountancy based in Warwickshire.

The deal will allow BK Plus to expand its services to businesses north and south of Birmingham, while also allowing Chapman Nash to enhance its offering as part of the group.

BK Plus, which is headquartered at Walsall Business Park, was recently launched to support SMEs, owner-managed businesses, and larger corporates.

The acquisition comes after the firm was joined by more than 40 staff within the first three months in response to demand from businesses of all sizes seeking support.

Jeremy Chapman, of Chapman Nash, said the move would bring benefits to all involved.

He said: “We are pleased to be joining forces with another firm which has a similar philosophy to us in how we look after clients.

“Joining together with a larger organisation offers new opportunities, while allowing us to keep some autonomy in the Warwickshire office.”

The acquisition will see Chapman Nash’s office rebranded, with the objective to bring in more staff and clients.

The firm, established in 2008, offers a wide range of general and specialist financial services and advice from its offices in Barford, near Warwick.

Emma Nash added: “In teaming up with BK Plus we shall not only continue advising our valued client base but also, with the additional support, strengthen and expand our services to both existing and potential businesses.

“We are looking forward to being part of a successful, progressive firm offering valued advice and services to businesses and individuals across the Midlands region.”

Emma and Jeremy will continue to head up the Warwick office. In addition Jeremy will also form part of BK Plus’ tax team as a Chartered Tax Adviser, assisting with personal, corporate and capital gains tax issues.

BK Plus provides a wide range of business advisory services, such as accounts, audit, taxation, bookkeeping and payroll, through to corporate finance and other specialist advice.

The venture led by David and Shaun comes off the back of their success at Baldwins – now known as Azets – where they helped to transform the business to become a top 10 accountancy firm with more than 95 offices nationwide.

Shaun, co-founder of the firm, said: “We are delighted to have agreed the acquisition of Chapman Nash as we enhance our offer to businesses across the Midlands.

“It is fantastic to join forces with such a well-respected firm in our first major acquisition, so soon after launching the business.”

The Ins And Outs Of Dividends

What is a dividend?

When a company shareholder receives a payment from the profits of a company (after Corporation tax and VAT has been deducted), the payment is called a dividend. This is usually the most tax-efficient way of paying yourself from your company’s profits.

Generally, if you’re the director of a company, the best way to pay yourself is through dividends, as well as giving yourself a low salary.

How to correctly issue a dividend

To issue a dividend, a meeting of the directors must be held in order to officially ‘declare’ the dividend. This meeting needs to be kept on record. If you are the sole director of your company, this still applies however you would just need to ensure that you issue the correct paperwork.

A dividend voucher also needs to be issued for each dividend payment made by your company. The voucher must show the following information:

  • Company name
  • Name of the shareholders being paid a dividend
  • Dividend amount
  • Date the dividend is due to be paid

A copy of this dividend voucher should be given to all recipients of the dividend and you will also need to keep a copy of the voucher for your company’s records.

Usually, dividends should be distributed to shareholders according to the percentage of shares owned. For example, if you own 75% of the company’s shares, you should receive 75% of each dividend distribution.

Does your company need to pay tax on dividends?

No. Your company will not be required to pay tax on any dividend payments issued – however shareholders may have to pay tax on the dividends they receive themselves, although this is dependent on their personal circumstances through their annual Self Assessment.

A limited company does not need to pay National Insurance Contributions on dividends.

Tax-free dividend allowance and UK Dividend Tax rates

Before you pay any income tax on your dividends, you can earn up to £2000 on dividends in the 2021/22 and 2021/21 tax years income tax free. This £2000 is on top of your Personal Tax-Free Allowance of £12,570 (2021/22 tax year) and £12,500 (2020/21 tax year).

Once you have gone over your personal allowance and tax-free dividend allowance, you will be taxed on any further dividends you receive.

Your tax band defines how much personal tax you pay on your income from dividends, however the rates are much lower than the usual income tax rates – hence why dividends are the preferred choice as they are so tax efficient!

The rates have stayed the same for many years;

  • Basic rate taxpayers will pay 7.5% (usual income tax is 20%)
  • Higher rate taxpayers will pay 32.5% (usual income tax is 40%)
  • Additional rate taxpayers will pay 38.1% (usual income tax is 45%)


If you need help with dividends, get in touch with our experienced team at hello@cooperfieldsd2.sg-host.com.

Another Senior Appointment

BK Plus announces yet another Senior Appointment – Ian Wilkins joins the team from a Top 10 accountancy firm. Beginning his career back in 1996, working his way up the ladder to most recently having the role as Office Managing Partner in Stourbridge, he brings with him 25 years of experience working with SME businesses.

Ian has been a member of the ACCA for over 10 years, he specialises in working with small businesses and helping them grow, corporate finance, IT system work and also giving top notch accounts and tax advice. Ian’s invaluable help and support is known to go to extraordinary lengths, keeping things as stress-free as possible for his clients.

Ian said “After being the Office Managing Partner for a Top 10 firm, I am looking forward to getting back to what I do best, advising owner managed businesses how to grow and strengthening their business.  This is one of the reasons that BK plus was so appealing to me as this is the forefront ethos of the company.

Ian brings with him a wealth of knowledge and expertise – we are thrilled to have him join us here at BK Plus and we can’t wait to be working with him again.