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Martins Matters May 2009 PDF Print E-mail
Written by Administrator   
Tuesday, 02 June 2009 21:32

Martin Spittle of Colston Bush updated members on business issues

 

 Carry back of losses

A reminder that unincorporated businesses trading before the self assessment rules introduced in 1997 may have overlap relief available which can augment possible loss relief if the year end of the business is changed to a date nearer to 5th April 2009 or 2010. 

Capital Allowances

The new temporary First Year Allowance of 40% applying to qualifying expenditure in the 12 months from 1st April 2009 for Companies or 6th April 2009 for unincorporated businesses is not expected to benefit 96% of businesses.  This relief is after Annual Investment Allowance of 100% of qualifying expenditure up to £50,000. 

 VAT 

Forfeited deposits do not represent the supply of goods or services and are not therefore subject to Output Tax.  There will be anti forstalling provisions to ensure advantage is not taken of the change of VAT to 17.5% on 1st January 2010. 

Penalty Regime 

The increased penalties introduced in the Finance Act 2007 came into effect in April.  Particular care should be taken to ensure accountancy staff do not incorrectly analyse business and personal expenditure because of inadequate information.  The Inland Revenue Manual gives this as an example of concealed inaccuracy which could lead to a penalty of 70% or more of the tax involved. 

 Employment Matters 

Equal Treatment Framework Directive gives protection from unfair treatment of an employee arising out of association with a disabled person. 

Redundancy payments may not be appropriate if suitable alternative employment has been offered.  If suitable alternative employment is available but not offered to an employee the result could be a claim for unfair dismissal.  Appropriate legal advice should be sought when considering matters of redundancy. 

An employee’s right to request once in any 12 month period flexible working arrangements as a parent of a child up to 6 years is from 6th April 2009 extended to parents of children aged 16 and under.  Details of the grounds for turning down such a request and further information is given on the government website  

Business Rates Deferral Scheme

Some information is available but it is not expected the local authorities will issue details until July.   An example was given of business premises with a rateable value of £26,000.  The rates payable would be about £12,000 and of a 5% increase of £600 60% could be deferred.  Half of the deferred £360 would be payable 2010 – 11 and half 2011 – 12.  The example can be applied pro-rata to higher and lower rateable values to assess the sort of potential sum involved.

HM Revenue & Customs

 Online video guides for new and small businesses are intended to provide an overview of a range of tax issues. 

 
Last Updated on Tuesday, 02 June 2009 21:55
 
Featured Business May 2009 PDF Print E-mail
Written by Administrator   
Tuesday, 02 June 2009 09:15

From a hobby to the High Street. Sunflower Framing was established 13 years ago in a small garage, the owner, Duncan McDonald’s house. Over subsequent years the business grew, firstly, opening a shop in The Old town in Beaconsfield, then launching a leading UK website dedicated to those who wish to frame their own work www.diyframing.com, quickly followed by a national school of framing www.ukschoolofframing.co.uk and a trade counter in Beaconsfield selling all the tools and materials for people who frame.

The last addition to the portfolio was Sunflower Framing in Marlow which opened in October 2008.The framing shop in Marlow is the pilot for a number of franchise operations we intend to open over the next few years. The shop has a framing design centre where you can choose from 100's of mouldings under the guidance of trained designers.

The computerised mount cutter offers an amazing choice of quality mount designs including the ability to cut out letters and shapes. Sunflower caters for large company contracts as well as individual needs and all the framing is carried out at the premises.The framing design area of the shop is complemented by the rest of the store which is an Aladdin’s cave of cards, gifts and great ideas for presents.

There is a large range of original artist’s works on display as well as prints both open and limited editions, if you still are unable to find what you want we can source artwork for you from our contacts and extensive knowledge of the art market.

All in all the Sunflower Framing experience caters for all your framing and gift ideas, we look forward to welcoming you in the very near future, and by way of an additional incentive to try our framing services we are offering a 20% discount to anyone who mentions they are a member of the Marlow Chamber of Commerce – see the Chamber website for details on www.marlowchamber.com. 

Sunflower Framing can be found at 7 Dean Street, Marlow. Telephone 01628 476070 and www.sunflowerframing.co.uk
Last Updated on Tuesday, 02 June 2009 21:22
 
From the President May 2009 PDF Print E-mail
Written by Administrator   
Tuesday, 02 June 2009 09:13

Welcome to the latest Chamber newsletter, once again it has been a busy month at the Chamber with the continued development of the website – do not forget to get your business information on the member’s directory. E-mail me with your company details and logo and we will arrange to have them uploaded onto the site to get your business promoted free of charge. This e-mail address is being protected from spambots. You need JavaScript enabled to view it .  

The business meetings have continued to be well attended with the last one being held at the lovely Liston Exchange offices – thank you to Comland for allowing us to use their venue and Pip’s for their excellent catering. The business meetings will continue to be held on the third Monday of the month at a venue near you. Following feedback from our members at the last business meeting, it was agreed that a 6.30pm start would be more convenient, so in the future the business meetings will move from 6.00pm to 6.30pm – should you wish to host a business meeting please contact me. 

One of the areas the Chamber is heavily promoting is Marlow businesses and residents supporting Marlow businesses. Personal recommendation is the highest form of positive marketing and by supporting both the business to business and business to consumer market, we can see our way through the current recession and also put Marlow on the map for the future. We will be launching the campaign in the press shortly so watch this space! 

On the subject of promoting Marlow, we are making strides with the organisation of the Scarecrow trail event over the weekend of the 11th and 12th of July. The event is to attract families to the town to take part in the trail and visit the businesses taking part. It is designed to increase footfall in the town and encourage spending. We are organising local media coverage to promote the weekend as well as contacting local schools to make the children and as importantly the parents aware of the event.

If you would like to promote your business through the event, please contact Adam Marlow at This e-mail address is being protected from spambots. You need JavaScript enabled to view it for more details. I hope you enjoy our newsletter and look forward to seeing you at our next business meeting on the 15th June, kindly hosted by SpinVox. 
Last Updated on Tuesday, 02 June 2009 09:20
 
Featured Business April PDF Print E-mail

Derived from the ancient Greek for “support”, ANTERIS is a consultancy set up to offer support to new entrepreneurs and existing businesses by two experienced professionals, Richard Scott, a chartered accountant, former plc finance director, and experienced non-executive director and Ralph Davies, a chartered secretary and former plc legal director. Richard Scott

ANTERIS was established in 2004 to offer a broad range of financial, commercial and legal advice within a single consultancy. This is our unique offering and it was recognised by Ernst & Young’s London Office, who introduced our first client virtually immediately – a new CCTV security business which needed finance, but most importantly, required qualified advice for international trade mark and patent protections.   

ANTERIS has advised a wide variety of clients, ranging from a retail home furnishing and interior design boutique wishing to expand, a French wine retailing business which required refinancing, to a start up internet trading company and, more recently, an accountancy and payroll bureau.

 ANTERIS Consultants draw upon their considerable general management background and depth of financial and legal experience to address the challenges inherent in a wide range of commercial activity, including guidance on profitability, cashflow, preparation of (and the value of) budgeting and management accounting, forecasting, banking facilities and long term strategic and financial planning.  Where specialised technical advice is required, they have access to associates.

 Richard Scott comments, “Initially, we have an introductory meeting with the potential client and carry out a short preliminary business review, for which we don’t charge. This review identifies the main issues to be addressed. We then present a range of options, which are tailored to achieve the client’s objectives. If the client is happy to proceed we will agree a fee structure, which is often geared to performance, as we are only too well aware of the lack of cashflow in a new business. ANTERIS will provide crucial support and resources for the new or existing business owner”.

 Contact ANTERIS -

 Email               richard @consultanteris.co.uk

Telephone       +44 1628 488186

Website          www.consultanteris.co.uk
 
Legal News from Martin Spittle, Colston Bush PDF Print E-mail
Written by Administrator   
Wednesday, 29 April 2009 21:12

Legal News from Martin Spittle, Colston Bush

 

Employment Act 2008

 

The dispute resolution provisions in the Employment Act 2008 came into force on 6th April 2009.  The Employment Act 2008 changed the legislation governing how employers and employees resolve issues dealing with discipline, dismissal and grievances.  The intention is that the new procedures will be simpler and more flexible and will hopefully save time, money and stress.  Employers should benefit from greater opportunities to resolve disputes before reaching the stage of an employment tribunal, with increased emphasis on alternatives such as mediation.  The Acas Code came into effect on 6th April and replaces the previous Acas Code on discipline and grievance handling which was issued in 2004.

 

The Department for Business Enterprise and Regulatory Reform (BERR) has produced a helpful leaflet, which has already been distributed to some employers.  This covers mediation, pre-claim conciliation and the Acas Code of Practice.  The following contact points are given in the leaflet:

 

www.businesslink.gov.uk/resolvingdisputes

www.acas.org.uk/drr

Acas Helpline:  08457 474747

08.00 – 20.00 Monday to Friday 09.00 – 13.00 on Saturday

 

Holiday Pay

 

From 1st April 2009 an employee’s minimum entitlement to paid annual leave increases from 24 days to 28 days for those working a five day week.  The 28 days can include time off for bank and public holidays.

 

From 1st April 2009, in most cases, the employer can no longer replace leave with a payment-in-lieu even if the employee makes such a request.

 

A helpful guide to employing people can be found on:

 

www.businesslink.gov.uk/employingpeople

 
 
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