TTR Barnes

Each month we’ll be introducing you to a member of our team. This month we’re getting to know Paul Guthrie. Now an experienced Tax Senior, Paul actually started his working life as a journalist before swapping words for numbers and embarking on a new career as an accountant. 

What are your qualifications?

I have been ATT qualified since 2013. I am currently working towards the CTA qualification and am about to sit my final exam. I also have a Master’s degree in journalism and a Bachelor’s in English.

Why did you choose accountancy and what do you love about it the most?

In truth, I chose accountancy quite by accident!

I had previously worked in the local press as a reporter at the Hartlepool Mail but after a year I found that this just wasn’t for me. While looking for alternative careers I found that EY were recruiting new staff to work at their Personal Tax Centre in Newcastle having just won a new contract. The positions were open to graduates in any subject and full tax training would be given. I applied for the job and was successful despite having no prior experience. This was the start of an extremely rewarding and interesting career for me and I have been in the tax world ever since.

I find that tax is an ever-changing and challenging area and getting it right is important to any business or individual. I particularly like the people side of the job and enjoy having the opportunity to assist a wide range of different clients from different backgrounds with a whole range of tax issues. The chance to have increased client contact was one of the main motivators for me moving to TTR Barnes from EY in November 2018.

What do clients worry about the most?

I think the biggest worry for most clients is getting on the wrong side of the taxman and being the subject of a tax investigation. Our clients therefore find it reassuring that we go to great lengths to ensure the accuracy of work we do on their behalf. We also have the necessary skills and experience within our team to ensure a positive outcome in the event of a tax investigation.

What do you do when you’re not at work?

I enjoy sport and I am a keen runner and cyclist. I am also into football and play five-a-side with friends regularly as well as supporting my team Sunderland AFC. I am also a dad to a six-year-old boy who definitely keeps me on my toes!

What are your current accountancy hot topics and why?

We have recently had a lot of landlords seeking advice about incorporating their property businesses. This has come about following the introduction of the finance restriction for mortgage interest which is currently being phased in over four years. The new rules have made the prospect of operating the property business through a company much more attractive for some landlords because of the increased tax relief available.

Another hot topic at the moment is the disguised employment legislation, or the IR35 rules as they are informally known. There have been a number of high profile tax cases in this area recently, many involving notable public figures. With the distinction between self-employment and employment becoming increasingly blurred in the modern world, many clients are keen to ensure they do not fall foul of this legislation.