Today’s news in brief – 13/2/2024

TC Group has completed a merger with Lincolnshire-based accountancy practice Lister And Co, creating TC Lister and Co. Lister and Co, established in the 1950s and trading since 1986, is one of Boston’s leading accountancy firms. TC Group, providing bespoke accountancy and taxation solutions, aims to enhance its presence in the East Midlands through this merger. The move reflects TC Group's strategy to grow and collaborate with like-minded firms. Lister and Co directors Annette Panton and Stuart Green express excitement about continuing local personal accounting services with added expertise and resources. Moore Kingston Smith has appointed Alex Horton as a partner to its media team, bringing over 12 years of experience in guiding individuals and owner-managed businesses in the entertainment industry. Specialising in creative industry tax relief claims and HMRC tax inquiries, Horton advises actors, directors, writers, composers, social media influencers, and production companies. His cross-border tax expertise is supported by work with Los Angeles-based firms. Horton's appointment aligns with the firm's focus on providing tailored advice unique to the entertainment sector, reinforcing its media team's capabilities. Mid-market accountancy firm Sumer has achieved revenues exceeding £100m within 12 months of its first acquisition. Sumer, with over 40 offices and 1,000 colleagues, sustains rapid growth with funding from Penta Capital and BlackRock. Focused on offering "best-in-class" services to SMEs, the firm plans to establish regional Hubs throughout the UK, emphasising support for the SME market. Sumer's strategy involves partnerships with regional firms like Monahans, RMT Accountants, Simmons Gainsford, and others. CEO Warren Mead envisions Sumer as a transformative force, combining local community presence with national-scale benefits for clients. Azets Barometer's January 2024 survey has exposed a succession planning gap in UK businesses, with less than 10% having fully integrated plans, despite 30% recognizing its importance. Although 58% consider succession in strategic planning, only 6% have given it no thought. The UK's overall score for succession planning is six out of 10, indicating a strategic gap that could impact shareholder value. Larger businesses show more commitment to succession planning. Lee Humble, UK Head of Corporate Finance at Azets, emphasises the need for meticulous planning, especially in the current economic climate.