<div class="editor-cover-image" data-dimensions="780:300" data-pmr-editor-image="" style="background-image: url(&quot;https://leaders-council-web.s3.eu-west-2.amazonaws.com/uploads/store/be30e12a49e1886064273eebe1dd692a.jpg&quot;);"></div>

 <div data-pmr-editable="" class="medium-editor-insert-plugin"><a href="https://www.linkedin.com/in/jonny-combe-47b28236/overlay/photo/">Writing on LinkedIn</a>, <a href="https://paybyphone.co.uk/">PayByPhone’s</a> CEO corporate <a href="http://www.leaderscouncil.co.uk/members/jonny-combe">Jonny Combe</a> talks through his annual triathlon training and discusses some of the leadership lessons he takes from the experience.Each year, I aim to compete in a couple of triathlons. "Compete" maybe overstates it somehow or gives the impression that I run the risk of winning. That is certainly not the case, I would say the social element of the triathlon is as important to me as the competitive element. As I approach my first race of 2022, I am reminded of several key lessons where my sporting hobby helps inform my role as a leader in business. In particular, there are three lessons which are fundamental to building a high performing team. 1. Are you training for consistency?In order to try and better the personal bests of previous years, I this year invested in working with a professional triathlon coach. She is an incredible individual who has won various races in her age category and specialises in winning "ironman" distance races [the behemoth of triathlon]. During my first session with her, she studied my previous training and race data from Strava. The main takeaway for me was this: My training plan didn't match the events that I was taking part in. I was too focused on thrashing myself in a training session, the knock-on effect being that I would feel the fatigue in the following days, not be able to train as hard and consequently the numbers of hours spent training would overall be reduced. Instead, I was instructed to train for longer but at lower exertion levels. I was told: "You need to be training at a consistent level, week in week out, for the 16 weeks of this plan". Consistency is far more important for endurance events than sudden bursts of training followed by long periods of recovery.For a team to be a high performing one, they need to be able to consistently perform. Bursts of brilliance are great, but ultimately pointless if they are followed by periods of underperformance later. I once worked with someone who was exactly like that - capable of real brilliance but could also be capable of underperformance. So, they were pulling others down in the post-brilliance slump days later, without even realising it. High performance takes consistent leaders.2. High performance comes from high self esteemLast year, my start of season and end of season happened to be the same race, owing to my lack of planning and a race schedule that had moved around several times because of Covid restrictions. I was undertrained for the event, and during the particularly hilly cycle element of my race, I was feeling like I'd rather be anywhere else. However, during this ascent, I was cheered on enthusiastically by a supporter in what seemed like the middle of nowhere. The surge of energy was pulpable. In that moment I went from wanting to throw my bike in a nearby hedge to feeling equipped to tackle the climb in front of me. It seems remarkable that such a small gesture can have such a big impact. This is something that is often overlooked, particularly as we have generally all moved to a more remote way of working. Those small encouragements that we can give each other at work can provide just the boost required to help others climb the hill that is making their legs feel heavy. Only when people feel good about themselves will they perform at their best and as leaders, we have an obligation to foster an atmosphere where that is the case.3. You don't stop feeling the pain, you just get used to it.As part of my new training regime, I am trying to focus more on my open-water swimming. I normally swim twice a week with a club, indoors, in a nice clean pool which has clear blue water and is at an optimum 26 degrees Celsius. Swimming in my closest river [the Thames] is an opposite experience as one could imagine. Cold, dark water with contaminants I don't even want to know about.During my first open water swim of the season, the water temperature was 10 degrees Celsius. To put that into context, a cold plunge pool at your local health club is normally between 10-12 degrees Celsius. But this wasn't a "plunge", it was for a swim which becomes difficult since your body shuts down as you enter the water. If [like me] you aren't acclimatised to open-water swimming in relatively cold conditions, you feel your chest tightening, difficulty breathing, dizziness and extreme fatigue as your body goes into preservation mode when you enter the water. None of that helps you crack out some of your best front crawl. In fact, it makes doing anything other than just surviving seem impossible.So, what do you do? Well, you repeat the process. Because if you do it again, your body will do the same, but probably to a lesser degree. And again. And again. Until at the point you enter the water you still feel the cold and discomfort, but your body has learned to cope with it. "It's not that you don't feel the pain, it's just that it doesn’t bother you anymore", said one of my experienced open water swimming compatriots, complete in only swimming trucks while I boast a thick wetsuit.

























In the current climate with the myriad challenges facing business today, few of us are in a business or leading a business where the water is warm, clear and clean. Sometimes however, we don't do a good job of setting expectations of what life will be really like in our businesses and so we shouldn't be surprised when people go into shock and don't perform at their best. But if we set the expectation that things will be difficult and acclimatisation is the key, we are surely going to be more likely to set everyone up for success.</div>

Writing on LinkedIn, PayByPhone’s CEO corporate Jonny Combe talks through his annual triathlon training and discusses some of the leadership lessons he takes from the experience.

Three leadership lessons from my triathlon training

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 <div data-pmr-editable="" class="medium-editor-insert-plugin"><a href="https://www.everfairtax.co.uk/transatlantic-trust-issues-and-uk-vs-us-trusts/">Writing on the Everfair Tax blog,</a> managing director <a href="http://www.leaderscouncil.co.uk/members/gillian-everall">Gillian Everall</a> explores some of the complications that can arise with trust funds which involve people based in both the UK and US. A family trust remains a popular vehicle for many to allow for the passing of wealth to the next generation. This is because it can provide flexibility, discretion and an element of control which is attractive to many. For US citizens, residents’ trusts are often discussed in estate planning. They are an efficient vehicle to deal with often time consuming and costly probate processes in various states.For transatlantic mobile families, the creator of a trust might be in one country and the beneficiaries in another. It is therefore very important to understand the rules applying to such arrangements.Residence position of trusts - UK vs USThe UK and the US both consider trusts as separate taxable entities from those who create and those who can benefit from them. They therefore have rules which establish the tax residence position of the trust.In the UK, the residence of the trust is determined by the residence of the trustees. A situation can arise where some of the trustees are resident in the UK and some outside the UK. So, the residence is determined by the domicile of the settlor.From a US tax perspective, the residence of a trust is established by the Court and Control Tests. In order for a trust to be considered ‘US resident’, there are some conditions. It must be governed by the law of one of the states of the United States. Also, it must also be under the trusteeship of majority US persons.Tax position in UK and US trustsFirst, residency must be established, which means determining if a trust is ‘resident’ or ‘not resident’ under the rules of the US and/or the UK. Once this is complete, the tax position of both the trust itself and the beneficiaries can begin to be established. Provided that the trust is resident in either the US or the UK, one starts from the position that the trust is subject to tax. This will be on the income and gains of the trust as it arises and at the highest tax rate in both countries.Payments to the beneficiary would then be essentially free from tax albeit that from a UK tax perspective. Distributions from income of the trust would be reported as such on the beneficiary’s tax return. These come with a credit for the 45 per cent tax already paid by the trustee, with the beneficiary receiving a refund if their personal marginal tax rate is lower than 45 per cent.UK vs US differences in trustsThere are differences to be aware of in the UK. For example, when a trust is one whereby the beneficiary is absolutely entitled to the income. In that case, the beneficiaries’ trust income will be taxable. With potentially lower rates of tax payable by the trust, for which the beneficiary will get a credit. But the capital gains will still be taxable on the trust.There are also specific rules regarding the treatment, where the person who created the trust is themselves a UK resident and they or their spouse or minor children are also a beneficiary of the trust. This may result in income and potentially gains being taxable on the settlor rather than the trustees.In the case of the US, there are also specific rules about the person who funded the trust, known as the grantor. Particularly if they are a beneficiary of the trust or retain certain significant powers over the trust assets. This is by way of being a trustee or by the specific wording of the trust document. This can result again in the income and gains of the trust being taxable on the trustee.There is the possibility under US tax rules that a distribution is made to a beneficiary from trust income. Transferring the tax liability for that income to the beneficiary, rather than it being taxable on the trustees, comes under what is known as a ‘distribution deduction’.Trusts that are considered to be non-tax resident are taxed in both the UK and the US on certain income arising in that country, so may still have a reporting obligation.Beneficiaries of UK vs US trustsBoth countries also have their own rules as to how they regard distributions to tax resident beneficiaries from non-resident trusts. In the UK, this can result in income and gains received by the trust over time being subject to tax on the beneficiary when they receive a distribution.From a US perspective, beneficiaries receiving distributions from a non-resident trust are similarly subject to US income and capital gains tax. This is in respect of income and gains received by the trust over time.Additionally, from a US tax perspective, if the income and gains of a non-resident trust [known as distributable net income or DNI] are not distributed within the calendar year or within 65 days of beginning of the new calendar year, they become undistributed net income [UNI].When UNI is distributed to a beneficiary, it is taxed as ordinary income. This will be at their highest margin rate. Regardless of whether it is actually qualified dividend income or long-term capital gains that are received. An email extra interest charge also arises. This increases with the length of time that passes before the UNI is considered to be distributed.Without careful planning, it’s very easy for inefficient tax situations to arise. For example, where the income and gains are taxed on the trust in one country. But the beneficiary is potentially being taxed on the income and gains of the trust in the other country. This can cause double taxation issues as it is a situation not well provided for in the double taxation agreement.If you are considering setting up a family trust which involves people both in the UK and the US, it is important to carefully consider where the trust should be tax resident. It is imperative to ensure it is set up appropriately and there are several factors to consider in this decision, including the expected level of income and gains and expected distribution policy of the trust. Advice ought to be sought and heeded to be as tax efficient as possible.Photo by <a href="https://unsplash.com/@nypl">The New York Public Library</a> on Unsplash</div>

Writing on the Everfair Tax blog, managing director Gillian Everall explores some of the complications that can arise with trust funds which involve people based in both the UK and US.

Everfair Tax Consulting explores transatlantic trust fund issues 

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 <div data-pmr-editable="" class="medium-editor-insert-plugin"><a href="https://www.bbc.co.uk/news/uk-politics-61608738">Paul Holmes, the Conservative MP for Eastleigh, has quit his role as a ministerial aide</a> to the home secretary, citing the “deep mistrust” of government created by its handling of the Partygate saga. Holmes said that the findings of senior civil servant Sue Gray’s report into the controversy had left him “shocked and angered” and that his constituency work had been left “tarnished by the toxic culture that seemed to have permeated Number 10", and that he now wished to channel all his efforts into his role as an MP.First elected to the House of Commons in 2019, Holmes had served as parliamentary private secretary to home secretary, Priti Patel, since September last year.<a href="https://www.leaderscouncil.co.uk/news/pm-shocked-appalled-and-humbled-by-sue-gray-s-findings-as-report-criticises-downing-street-drinking-culture">Gray’s report, published in full on Wednesday,</a> suggested that Covid rule breaches within Downing Street were widespread and able to happen with implicit permission from Number 10’s leadership.The report has also raised fresh questions over whether Boris Johnson deliberately misled MPs over the parties having taken place and the nature of the gatherings.In a statement confirming his resignation from his government role, Holmes said that dealing with Partygate had diverted the attention of ministers from the ongoing cost-of-living crisis.He also said that some of Gray’s findings about cleaning and security personnel being mistreated by Downing Street staff were “disappointing and unacceptable”, and indicative of a “distasteful” culture behind the famous black door of Number 10.Holmes added: “It is clear to me that a deep mistrust in both the government and the Conservative Party has been created by these events,” before going on to explain that he wanted to “focus solely” on his constituency work.The Sue Gray report was released this week after the Metropolitan Police finalised its own four-month long inquiry, which saw 126 fines issued to 83 individuals for 12 parties that happened over 2020 and 2021 while lockdown laws were in place.While Holmes has not joined the voices calling for the prime minister to step down, <a href="https://www.bbc.co.uk/news/uk-politics-61592728">four more Tory MPs have called for Johnson to go since Sue Gray’s report emerged.</a>The PM has told the media that he is confident he has enough support from within the Conservative party to remain in the Downing Street hot-seat, with 18 Tories having so far submitted letters of no confidence to the 1922 Committee of backbench Conservative MPs, <a href="https://www.bbc.co.uk/news/uk-politics-61608738">as per the BBC.</a>A total of 54 letters would need to be handed to the committee by Tory MPs to oust the PM by forcing a leadership contest. Image taken from <a href="https://commons.wikimedia.org/wiki/File:Official_portrait_of_Paul_Holmes_MP_crop_1.jpg" style="">Wikimedia Commons</a></div>

Paul Holmes, the Conservative MP for Eastleigh, has quit his role as a ministerial aide to the home secretary, citing the “deep mistrust” of government created by its handling of the Partygate saga.

Tory MP for Eastleigh quits ministerial aide role over Partygate handling

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 <div data-pmr-editable="" class="medium-editor-insert-plugin">Over 330 delegates from numerous countries attended <a href="https://goodnewsuk.com/connexions">Connexions 2022</a> over the weekend of April 29 to May 1 at the Hilton Metropole Hotel in Birmingham, West Midlands.Connexions is the national convention run by the <a href="https://goodnewsuk.com/">Good News for Everyone!</a> organisation, which seeks to connect attendees more deeply with God’s word.<a href="https://youtu.be/40uVOcxEQhs?t=2697">In a speech introducing the convention</a>, Good News for Everyone! president, Bill Thomas [pictured], said: “I want to add my word of welcome to everybody here and at home and especially our international visitors from other countries.“I think this year we have a more international convention than ever before. International connections are being made here and we thank God for that.“We welcome our guests from Canada, Sweden, Iceland, Germany, Serbia, India, Iran, the USA and the UK. All these nations are here celebrating and it’s so exciting. We speak different languages to each other, we’re miles away but we’re all one in the Lord, Jesus Christ, which is what this convention is all about.”Across the weekend, multiple sessions were held covering subjects such as Bible teaching, testimonies of lives transformed through reading God’s word, encouraging reports from around the country and internationally, and other inspiring content.One of the keynote speakers to appear at Connexions 2022 was Robert J. Morgan, the teaching pastor of The Donelson Fellowship in Nashville, Tennessee, where he has served for over 40 years. Morgan is a published and best-selling author with over 35 books written and approximately five million copies in circulation in multiple languages. He is also a seasoned public speaker having appeared on television and radio, as well as having spoken at churches, conferences, schools, and corporate events.Other notable guest speakers included Giorgio Gori, the vice-president of international growth at gospel organisation ShareWord Global; Catherine Erbetta, the ladies’ president of Good News for Everyone!; and Lat Blaylock from National Association of Teachers of Religious Education [NATRE], who presented on connecting with schools post-Covid, NATRE’s longstanding relationship with the iconic ‘little red Bible’ and new resources including the Discover Good News for Everyone Magazine.<a href="https://www.youtube.com/watch?v=bTsVIzg-rzc&amp;t=2680s">Blaylock highlighted</a> some of the upcoming opportunities for the scripture to be shared in the 20,000-plus primary schools in the UK, saying: “I’m delighted with the way in which a new initiative has been taken to put the scripture into the hands of children between the ages of seven and 11. “We have created this Bible exploration magazine called Discover Good News for Everyone. It includes 90 pages or so of scripture extracts aim in a style friendly to seven-to-11-year-olds, as well as quizzes questions, thought provokers and spaces for children to write their own notes.“The magazine is available for classroom use as well as individual use for children to take home and have their own copy to show parents and siblings. It is a completely new way of sharing scripture and the good news for everyone in the primary school setting.”Connexions 2022 also marked a significant milestone for Good News for Everyone! and the wider Christian community, with everyone meeting together again after a two-year hiatus of the convention due to the Covid-19 pandemic.























There were also times of prayer set aside for the situation currently unfolding in Ukraine, with the work of Good News for Everyone! in partnership with Mission Eurasia showcased during the weekend, detailing how they are working in tandem to help civilians affected by the crisis.</div>

Over 330 delegates from numerous countries attended Connexions 2022 over the weekend of April 29 to May 1 at the Hilton Metropole Hotel in Birmingham, West Midlands.

Connexions 2022 returns to unite Christian community after two-year hiatus 

David Morris is the founder and managing director of three engineering companies in Bedfordshire, namely Combined Test Solutions [CTS] Ltd, Overmould Ltd, and Ball Electronics.David is an experienced entrepreneur and business leader with decades of experience in the electronics manufacturing industry.

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Three leadership lessons from my triathlon training

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Connexions 2022 returns to unite Christian community after two-year hiatus

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