The week started with my first day at Mazars. The office is very close, only 2 blocks away. The office is modern, efficient and impressive. There are about 200 people in the office, which is comprised of financial planning, audit and tax in order of size, respectively.
No one has their own office. Everyone is seated in rows, in an open office environment that encourages collaboration and community. Treats are stashed in a common area and available for all. It is expected on your birthday to bring in something sweet for the team.
It is hard to imagine packing all the work on our desks in the U.S. into a 4ft section in a community row, and Mazars isn't paperless.
In the center there are break out offices for discussions between colleagues or phone calls.
For more formal meeting with clients, the office contains a number of offices.
I learned a lot my first week about the work at Mazars. There are a lot of fascinating projects dealing with international tax, R&D credits, transfer pricing, VAT, and taxation of professional athletes and entertainers. Business is inherently international here because of the proximity to so many other countries. Imagine the transfer pricing, international tax, currency issues if each state were a different country with different currencies. That is the landscape for a UK tax advisor.
Some interesting things I've learned so far:
- Individuals in the UK do not typically file tax returns
- "National Insurance" is deducted from pay & provides free healthcare to everyone in the UK
- No sales tax in the UK (but VAT is similar)
- No depreciation is allowed on buildings
- No mortgage interest is allowed as personal deduction (accountants gasp!) on individuals that are required to file returns
- Client Meals and Entertainment is 100% non deductible
- Most energy efficient property (vehicles/equipment) is fully deductible
Outside of work I was able to take in more of what England has to offer. Ed Tomlinson, a colleague at Mazars took me to a MK Dons football game.The Milton Keynes stadium is new and grand, it reminded me of the Roman Colosseum. The MK Don's 3-1 victory was exciting, I was pretty pumped up to cheer them on, but I had nothing on the locals. I now know where most youth in England pick up their profanity.
After a little football, we went out for some dinner and drinks in a village NW of Milton Keynes called Stony Stratford. It was the quintessential English village pictured in my mind. The village was an important stopping-off point for mail and passenger coaches traveling between London and the northern cities of England in the 18th/19th centuries. Many of the coach inn's and restaurants are still in existence.
A church right on the main street
The guys I played golf with last weekend asked if I wanted to join them again this weekend. They play in a league called the "Friends of Golf Society". Very official league, I'm sure. This week was the Lairy Trouser Invitational. The picture below tells the story, I had a great day with these guys. Many of the blokes have been lifetime mates and it was funny to listen to them banter back and forth, I understood about 20% of what they were saying. I didn't see this one coming when I was packing for the trip so I'm the guy hiding in the back ashamed of his trousers.
The warm welcome by everyone here is overwhelming. I've been lucky to forge some great friendships already and for that I'm grateful.
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