The IFA acts as an important bridge, providing insights about the challenges impacting its members to policymakers with the goal of effecting meaningful change. But who are the people who act as the mouthpiece of accountants across the UK regions?
This is where the Members Advisory Committee (MAC) comes in. MAC is a coalition of accountancy professionals and experts who meet on a quarterly basis to discuss and troubleshoot the issues accountants and businesses are dealing with. The committee comprises six regional ambassadors including Ian Hornsey (Eastern England), Duncan Walker (Scotland), Robin Murray (Northern England), Mujibur Rahman ( Midlands) and Ermal Krutani (London).
The sixth is Bill McGregor, founder and Principal of Newtownards-based BMG Accountants, and regional ambassador and member of MAC for Northern Ireland for the past 12 years. BMG Accountants comprises four people dedicated to providing small businesses with a personalised, high-quality service.
As a regional ambassador, McGregor’s role is diverse. On a day-to-day basis, it could entail anything from liaising with Northern Irish accountants to organising regional events and liaising between the IFA and its members.
Building networks with like-minded businesses
The focus of MAC has shifted over the years. “Pre-COVID the meetings were all about continuing professional development (CPD), then obviously with COVID a lot of that moved online so the MAC grew to be more about networking,” he says.
McGregor says one of the key benefits of his role as regional ambassador has been the expansion of his business network. “I’ve come across people from all sorts of different sectors, it’s great,” he says, “Sometimes clients call looking for something you don’t necessarily provide, like mortgages or loans or whatever, and it’s great to have a bank of people that you can call upon to support that.”
Many MAC members also run similar practices and can share insights into the challenges of operating a small business such as staying on top of compliance, technology and client acquisition and retention.
“People talk about all sorts of things, maybe what software they’re using or any problems they’re encountering,” McGregor says. “You’re always interested to hear if someone is doing something differently to you, or in a different way. It’s a great way to share knowledge and skills.”
“It’s a nice mix, people are getting a bit of everything. They’re coming along, they’re learning something new, and also it’s a chance to meet people from other organisations.”
“A lot of those involved [in MAC] are in a similar position to myself, running smaller practices as partnerships or (operating solo). It’s great to find out what other people from all different parts of the country are doing, and learn from them.”
Bill McGregor, founder and Principal of BMG Accountants, regional ambassador and member of MAC for Northern Ireland
Discussing the challenges in different regions
At BMG Accountants McGregor specialises in dealing with SMEs and family businesses. Connecting with businesses of other sizes and in other regions is important to get a broader perspective.
Issues that small and larger business experience can differ greatly. For example, a small business might struggle with cash flow, while a larger business might face more stringent regulatory challenges. There are regional differences too. For instance, there are border complications for businesses in Northern Ireland, as those with clients in the north and south of Ireland have to deal with slightly different tax jurisdictions.
However, there are also a lot of similarities in the challenges faced by firms across the UK. These range from managing deadlines, navigating changes in legislation, or dealing with the “hectic” January self-assessment period.
McGregor cautions Making Tax Digital (MTD) is a common issue shared among members: “It’s a major change that’s coming down the track, which is probably going to be one of the biggest changes in the tax system,” he says. “I think people are very conscious of that, and the changes that that’s going to bring in.”
Another is the most recent Autumn Budget, which McGregor says is causing concern. “[Members] are particularly worried about the impact of National Insurance changes on salaries and overall costs,” he explains.
The power of effective feedback
An important role for the regional ambassadors is providing feedback to the IFA to address and at times escalate challenges accountants face. McGregor highlights recent success where the IFA effectively fed back insights from members to HMRC on issues such as the roll out of MTD.
“In meetings between regional ambassadors and IFA board members—who engage at a higher level with government agencies—key concerns from local firms are relayed directly to policymakers,” says McGregor. “This was especially important during the lead-up to MTD, making sure firms’ concerns were heard and influencing how policies were shaped.”
McGregor says his position allows him to participate in important forums with regulators and help shape compliance policy. He recently attended a meeting as regional ambassador with senior HMRC executives, which was an important forum for discussion on the upcoming MTD changes.
“(HMRC) was interested to hear our thoughts about MTD and how we thought our clients would be able to cope with it,” he says. “I felt, and I think most people felt, they were quite detached from how small businesses actually work on a day-to-day level. Feeding back concerns to them directly was a powerful thing to be able to offer.”
The next MAC town hall meeting will be held online on 20 March 2025. More information here.
