Can't get Enough.
What about the tie choice difficulties though- when I wore them regularly I tended to go for the ones without the mayo stains, but colour, stripe, paisley etc-decisions, decisions.
Appreciate your point re family successions, clogs to clogs in three generations, as whilst family can inherit assets they may not inherit talents.
No experience of professional succession in recent years but I do know how my father was brought in to the law firm in which he ended up as senior partner, so maybe in the 1950s and 1960s these things were better planned.
He was purloined from Murray Beith & Murray W.S. in Edinburgh by a similar Edinburgh firm , Melville & Lindesay W.S. who wanted a bit of talent and as he knew MBM were never going to make him a partner (all partners at MBM back then tended to own landed estates and not need to financially be partners-of independent means-the essential qualification alongside hunting, shooting and fishing) he jumped ship to a firm with a more progressive outlook.
He was advised at outset that with decent performance he had prospects when starting as a qualified solicitor in the 1950s, whilst still in his twenties.
After a couple of years a fellow lawyer friend of the then senior partner took ill so my dad got parachuted in to manage that person's smaller firm for about 18 months (In effect part of his training for the future-how to run a firm) and on his return he was made first a salaried partner in his late 20s then a profit sharing partner by about age 33 in circa 1960.
As a profit sharing partner he had a right each year, under the partnership agreement, to buy a small fraction of the then retiring senior partner's interest in the firm using a pre arranged formula based on average firm profits and a fixed multiplier. (As did his more senior partners as he ranked initially fifth)
This was a five partner firm and over the intervening years my father purchased those fractional shares (64ths I think) he was entitled to from the original senior partner and then others who over the years departed and offered up their interests, so that by 1974 he was the senior partner owning the largest stake of the then three partners firm (two junior to him had come in over the years)
The structure of the partnership agreement, with this mechanism , remained pretty much constant over the years from the 1950s until the firm eventually split in 1982 ,and always seemed to me to be a reasonably clever way of enticing ambitious prospective partners who did not come from a particularly wealthy background.
In the long term the talented will leave and the calibre of staff retained will diminish, if they want to keep good staff they need to treat them decently.
At the end of the day they will hopefully regret how they operate as eventually it is likely to come back and bite them.
In my younger days I worked daft numbers of unpaid hours but it was never forced upon us, we did it because, in the round t,he firm were decent employers and there was a quid pro quo if say my kids got measles and I had to take time off at short notice. (My wife at the time was a stockmarket analyst and her employers were far less forgiving re her calling in to say she needed a day off re similar so I did a fair bit of emergency child cover)
If the employer merely takes with no give eventually staff will walk to a better employer.
I am looking forward to suits making a comeback but I do need circa 2 years notice so I can diet to get back into some of the decent quality ones still hanging in my wardrobe.
I have amongst them a really nice lightweight, quasi made to measure , Aitken & Niven suit that cost a small fortune when purchased circa fifteen years ago but now needs a good 4 inch reduction from my waist.
Of recent years I have bought cheaper suits as a temp fix until I can get back into the good ones but that day never comes.
I also still have over thirty ties loitering on a tie rack in the wardrobe-they never seem to get thrown out but nor do they get worn.
Suits are these days weddings, funerals and university graduations and at the last two of the latter I have looked like " Our Main in Havana" without the hat but with the cigars.
Maybe I should get the fez and start resembling "Ferrari" in "Casablanca"
Not convinced an April Fool, they had an undercover reporter on TV chatting with the seller.
Frankly I am going to stick to raking through service station bins for discarded petrol receipts and collecting those little handy parking slips from bins in the city centre streets.
If I wanted fraudulent invoices I am sure I could just create my own (I have a very passable £20 note that came out of our office copier)
Besides, re vat does each one not need to be £250 or less, otherwise does it not need addressed to the purchaser?
I actually have a confession, I have always fancied having a pop at investigation work from the HMRC side of the fence, have always thought HMRC should entice in a few older , retired,accountants to do the analysis work on some clown's books , tad like the police do on film and in books (Rebus)- some old fashioned, gut feeling, diligence.
You missed out opening Pandora's box and unleashing what lurks within.
My doubt with the zeal for tech solutions is that the tech, in itself, does little to improve the users' analysis of the data, it merely gives them the data ,possibly sooner than otherwise.
And tech has an alarming ability, as seen on A Web, to reduce individuals' understanding of matters, the reliance on tech seems sometimes to reduce analysis- the machine gives x so it must be correct.
Hands up who is still 100% comfortable doing tax computations without software, I will openly admit that there are odd occasions I need to look at a worked example to determine why a machine gets x tax due, I , like others ,have come to rely on the software most of the time and am far more rusty re this than say twenty years ago.
I see this first hand at work where staff cannot/do not do a sense check with something so trivial as y divided by z, the calculator relied upon has reduced the ability for fast mental arithmetic- if I add up a column of figures with a calculator I tend to have a rough idea of the total as my brain roughly adds as I key in the numbers, not so with most staff these days, they accept rubbish because it comes from the machine.
So embrace tech, fine, but if it leads to less frequent , that does not look right, pauses, as reliance has overtaken critical thought, be very wary of the data.
As an example my son was working on wealth management software for a large bank, whilst writing parts he noticed that the software, re the reports it was to produce, was wrong, the price data being used re securities was being extracted from the incorrect data field and an investor could, on paper ,have bought x thousand AA today and by tonight have a 20% profit on them, this was software being developed by a large team, lots of developers working on it, had seen it,yet none had spotted the obvious flaw until he applied a little commonsense
"It is only likely to work if the intended recipient is your spouse and he/she does not pre-decease you "
Re spouse automatic inheritance in intestacy, care needed vis a vis your comment as position in Scotland is not quite so simple- children have rights, no idea re down south.
One of my late father's favourite after dinner toast (he was a solicitor) was,
"God bless the man who writes his own will"
due to his firm's potential for extra income in the absence of a valid/effective will, to paraphrase Brexit, no will is better than a bad will.
The Scots even have such things in verse, another much loved earner for the Scottish legal profession,
"Hurrah for the Multiplepoinding! Hurrah!
What land but our own such a gem ever saw?
The Process of Processes —Pride of the law
Hurrah for the Multiplepoinding!
The Multiplepoinding, hurrah!"
And this then got followed by the description of a trust as a dripping roast- one earns through its creation, one earns through its management and one earns through its winding up, sometimes over very long periods of time.
Currently I am involved with the winding up of a trust that started before WW2, no doubt written (and invoiced in guineas) by one of my father's predecessors as partners, my father then earned from its management and his former junior partner (Now well into his upper sixties) then earned from its management and is now earning from its winding up- I am merely a lay trustee so earn nothing.
I think you ought to plan for 60-67, depending on affordability (How late you have left it).
Better having the safety net at these ages than not, you are not forced to use them, you can delay if at the time you are still raring to go.
Whilst accountants do not really require physical strength they do need mental agility, and if I am honest with myself that has (certainly in my case) slipped; I do not read and recall as well as I once did, my ability to work really long hours (or at least my willingness) is reduced, and I am only just approaching 59.
I am currently trying the slow retirement idea, three days a week work and two days a week that are totally flexible if I want to use them to earn money or work in the garden etc.
Well, better start parking at pay and displays at 17:20 for say ten minutes- nice little earner.