local
Page 4
n WEB WISE: Ascensor directors Andrew Firth (left) and Stuart Holdsworth are forcasting further success for the Birstall-based company A KIRKLEES-based IT specialist has reported rapid growth. Digital agency Ascensor Ltd, with headquarters in Birstall and offices in London, has posted a 70% rise in annual turnover while first quarter results put it on track for a similar performance this year. Ascensor, now in its sixth year of trading, has increased staff numbers from two to 20. It has appointed six new staff during the past 12 months and has plans for further recruitment. The company designs, develops and markets websites and provides e-commerce services such as search engine optimisation to ensure its clients’ websites get the right customers. The company has built more
Independent financial planning services for companies and individuals Eastwood & Partners (Financial Services) Ltd
Pennine House, Lowfields Close, Lowfields Business Park, Elland HX5 9DA 01422 377737 www.eastwoodfinancial.co.uk Authorised and Regulated by the Financial Services Authority
than 200 websites for clients including Omni Capital, National Flexible, the Bradley-based Forget Me Not Children’s Hospice and Huddersfield law firm Eaton Smith Solicitors. Ascensor managing director Andy Firth said: “We are really excited about how quickly we have grown and look set to continue at the same pace. “We now have over 300 clients on our books the length and breadth of the UK. We have gone from working with relatively small organisations to building digital platforms for multi nationals.” Ascensor is set for further expansion having created a new strategic marketing plan and re-branded and relaunched its own website.
BEEN MADE REDUNDANT?
Want to be your own boss?
Always longed for that coffee shop, but scared of the high overheads? Or simply fancy a change of career?
Look no further!
We worK closely with Gaggia and together we offer a business opportunity for a Go-Go Gaggia smart car in your area. The car will come fitted out with everything you need to start, and we will guide you in your new business venture. The perfect opportunity to create your mobile coffee shop, turning heads, getting people talking and all with the support of the biggest coffee brand in the world.
local
KIRKLEES BUSINESS NEWS
To find out how you could own your very own Go Go Gaggia franchise call 07845 564812 or email info@gogogaggia.co.uk
07845 564812 www.gogogaggia.co.uk
Thinking… outside the books
added value services include…
Tailored programme to maximise profitability Tailored tax efficient solutions Regular updates & support to help your business FREE use of our facilities for your meeting Support all day, every day
Call Freephone: 08000 32 32 03 and quote KBN /1211 to give us the chance to help you achieve your goals, or contact us through our website at:-
www.walker-sutcliffe.co.uk
A HEALTH and safety consultancy in Huddersfield is in peak condition after securing a string of new contracts. After six years of working informally with Assura Group, Bradley-based SM&MS has been appointed to formally undertake health and safety risk assessments, fire safety risk assessments, disability access audits and consultancy services for Assura. Assura, the UK’s leading investor, developer and manager of primary care property, will use SM&MS’ award-winning PropertyPlus online compliance system, which allows actions from the surveys and assessments to be closed down and allocated to internal resources or approved contractors using a unique link to the SM&MS ContractorPlus system. The system will also allow trends, issues and risk profiles to be analysed. SM&MS account manager Matthew Hatcher said: “Assura is a significant and important client to SM&MS and we are excited at the prospect of meeting and exceeding their expectations.” S e n i o r a s s e t m a n a g e r Ro g e r Thompson, of Assura, said: “Assura is an
n TARGET MARKET: Richard Edwards, of Bradley-based SM&MS
innovative company and partnering SM&MS seemed a logical choice with much synergy due to the technological thrust and drive of both companies.” Apart from winning works from Assura, 2013 has also seen SM&MS win national contracts with Deloitte, Kwik Fit, Fletcher King and JLL and retaining works with property giant CBRE. Richard Edwards, director of client
services at SM&MS, said: “2013 has started really well for SM&MS with us winning some high profile ‘halo’ clients. “I believe the recession has really opened up some doors for SM&MS, with buying cycle times being reduced and clients looking at their current service offerings to ensure best value. “When the market was more buoyant, our target market of the property management sector would stay with suppliers if they were merely OK. This has now all changed with all stakeholders in the buying process demanding value for money and innovation. “It is this innovation that has been pivotal in our recent growth, with our online compliance systems allowing clients to interrogate risk profiles and demonstrate compliance and audit trail activity. “Our latest offering is a mobile application which allows our clients to undertake audits using handheld devices and is currently being implemented with Peel Holdings and Lambert Smith Hampton. “ T h e s e a re exc i t i n g t i m e s fo r SM&MS.”
A CHARTERED accountancy firm in Kirklees has urged businesses undergoing a change of circumstance to tell the taxman – or risk incurring “significant” penalties. Cleckheaton-based Clough & Company said that businesses making major changes, such as changing owners, legal entities or becoming incorporated, must re-register for VAT. HM Revenue & Customs must also be informed of these changes within 30 days, even if its VAT number is staying the same. Partner Nigel Westman said: “Recently, there have been a number of cases where businesses have been taken over or changed legal entity, for example from a sole proprietor to a partnership, and failed to re-register for VAT. “Even though they have held on to the same VAT registration number and not missed any payments, they have still been hit with significant fines that can regularly reach tens of thousands of pounds. “Previously in cases where HMRC isn’t out of pocket they would usually have taken a pragmatic view, but now it seems they are applying a strict interpretation of the law and pursuing the fines.” Mr Westman said: “Some of these cases are now going to tribunal and although the taxpayers may obtain some reprieve, it’s a very expensive and time-consuming exercise and there is no guarantee the taxpayer will win. “For any businesses facing this dilemma, it definitely makes sense to approach HMRC first before they come looking for you.”
TAX TALK Colin Barratt
ASH bonuses, gift vouchers or food C hampers are popular ways of rewarding employees – but all are chargeable to
It’s time you got more from your accountant
Firm secures UK contracts
Page 5
income tax. Cash and vouchers are also subject to national insurance. Minor benefits such as a turkey or an ordinary bottle of wine should not be charged to tax or NIC, although anything more extravagant will be. Some other tax-free alternatives worth considering are as follows: For those having an annual function, such as a day at the races or Christmas party, which is open to the staff generally (not just certain staff or departments), there will be no taxable benefit or NIC where the expenditure is less than £150 per head. The figure includes the total cost of the function, including VAT and any transport or accommodation provided by the employer, divided by the number of people attending. If each member of staff takes a guest, the £150 limit will apply to each individual attending, not just to the employee. If the cost per head exceeds £150, the whole amount will become taxable, not just the excess, so be careful if you are being particularly generous. Also remember that if there is more than one function in the tax year the £150 per head limit applies to the total cost of all functions. In that case, only functions which total less than the £150 per head will escape tax and NIC. Where an employer gives cash to employees in lieu of a party, then the cash will be subject to PAYE and NIC. Low or interest free loans made to employees are tax free if the amount borrowed does not exceed £5,000 at any time in the tax year. The loan can be used for any purpose and the
exemption will still apply. From 6 April 2014, the threshold will be doubled to £10,000. There are other tax consequences of such loans where they are made to a shareholder who owns (with certain close relatives) more than 5% of the shares in the company. The provision of a car parking space for an employee at or near their place of work is not a taxable benefit. This can include reimbursing the employee’s cost of paying for a car parking space or buying a parking season ticket on their behalf. This exemption is attractive given the cost of town centre parking. Expenses incurred in the provision of health screening and /or medical check-ups by employers for their workers are also tax/NIC exempt, although a benefit will arise if these are provided to the worker’s family. No taxable benefit will arise where an employer provides one mobile telephone to an employee for their private use (mobile phones include smartphones but not iPads or tablets). The tax exemption covers the cost of any line rental and private calls paid by the employer. However, the exemption will not apply where the contract for the mobile phone is between the phone company and the employee. In this case any costs paid by the employer for the employee’s private use will also be subject to payroll NIC. From April 6, 2013, where employers make taxable payments to their employees they are required under the Real Time Initiative to send details to HMRC every time they pay an employee, at the time they pay them and to send this information electronically as part of their payroll process.
Colin Barratt is tax partner at Wheawill and Sudworth chartered accountants, Huddersfield
Standing firm for 150 years Things move fast in the world of financial services. We’ve been around since 1878, so we’ve seen all types of market conditions and know what it takes to move with the times. And, of course, our commitment to providing out of the ordinary service is resolute. At Investec Wealth & Investment we have the knowledge and expertise to help make your financial goals a reality. UK-wide, our specialist teams manage over £22 billion* on behalf of our clients, seeking the best and most tax-efficient returns on their capital. While our office right here in Leeds means we are well placed to oversee your investments, pensions or other financial matters. Transferring your investments across to us to manage for you is also hassle free. Please bear in mind that the value of investments and the income derived from them can go down as well as up and that you may not get back the amount that you have put in. Great relationships start with a conversation, so why not give Simon Kaye a call on 0113 245 4488 or email simon.kaye@investecwin.co.uk investecwin.co.uk
Individuals
International
Financial Advisers
Charities
Court of Protection
*As at 28 February 2013. Member firm of the London Stock Exchange. Member of NYSE Liffe. Authorised and regulated by the Financial Conduct Authority. Investec Wealth & Investment Limited is registered in England. Registered No. 2122340. Registered Office: 2 Gresham Street, London EC2V 7QP. Offices at: Bath Belfast Birmingham Bournemouth Cheltenham Edinburgh Exeter Glasgow Guildford Leeds Liverpool London Manchester Reigate Sheffield
local
Page 4
n WEB WISE: Ascensor directors Andrew Firth (left) and Stuart Holdsworth are forcasting further success for the Birstall-based company A KIRKLEES-based IT specialist has reported rapid growth. Digital agency Ascensor Ltd, with headquarters in Birstall and offices in London, has posted a 70% rise in annual turnover while first quarter results put it on track for a similar performance this year. Ascensor, now in its sixth year of trading, has increased staff numbers from two to 20. It has appointed six new staff during the past 12 months and has plans for further recruitment. The company designs, develops and markets websites and provides e-commerce services such as search engine optimisation to ensure its clients’ websites get the right customers. The company has built more
Independent financial planning services for companies and individuals Eastwood & Partners (Financial Services) Ltd
Pennine House, Lowfields Close, Lowfields Business Park, Elland HX5 9DA 01422 377737 www.eastwoodfinancial.co.uk Authorised and Regulated by the Financial Services Authority
than 200 websites for clients including Omni Capital, National Flexible, the Bradley-based Forget Me Not Children’s Hospice and Huddersfield law firm Eaton Smith Solicitors. Ascensor managing director Andy Firth said: “We are really excited about how quickly we have grown and look set to continue at the same pace. “We now have over 300 clients on our books the length and breadth of the UK. We have gone from working with relatively small organisations to building digital platforms for multi nationals.” Ascensor is set for further expansion having created a new strategic marketing plan and re-branded and relaunched its own website.
BEEN MADE REDUNDANT?
Want to be your own boss?
Always longed for that coffee shop, but scared of the high overheads? Or simply fancy a change of career?
Look no further!
We worK closely with Gaggia and together we offer a business opportunity for a Go-Go Gaggia smart car in your area. The car will come fitted out with everything you need to start, and we will guide you in your new business venture. The perfect opportunity to create your mobile coffee shop, turning heads, getting people talking and all with the support of the biggest coffee brand in the world.
local
KIRKLEES BUSINESS NEWS
To find out how you could own your very own Go Go Gaggia franchise call 07845 564812 or email info@gogogaggia.co.uk
07845 564812 www.gogogaggia.co.uk
Thinking… outside the books
added value services include…
Tailored programme to maximise profitability Tailored tax efficient solutions Regular updates & support to help your business FREE use of our facilities for your meeting Support all day, every day
Call Freephone: 08000 32 32 03 and quote KBN /1211 to give us the chance to help you achieve your goals, or contact us through our website at:-
www.walker-sutcliffe.co.uk
A HEALTH and safety consultancy in Huddersfield is in peak condition after securing a string of new contracts. After six years of working informally with Assura Group, Bradley-based SM&MS has been appointed to formally undertake health and safety risk assessments, fire safety risk assessments, disability access audits and consultancy services for Assura. Assura, the UK’s leading investor, developer and manager of primary care property, will use SM&MS’ award-winning PropertyPlus online compliance system, which allows actions from the surveys and assessments to be closed down and allocated to internal resources or approved contractors using a unique link to the SM&MS ContractorPlus system. The system will also allow trends, issues and risk profiles to be analysed. SM&MS account manager Matthew Hatcher said: “Assura is a significant and important client to SM&MS and we are excited at the prospect of meeting and exceeding their expectations.” S e n i o r a s s e t m a n a g e r Ro g e r Thompson, of Assura, said: “Assura is an
n TARGET MARKET: Richard Edwards, of Bradley-based SM&MS
innovative company and partnering SM&MS seemed a logical choice with much synergy due to the technological thrust and drive of both companies.” Apart from winning works from Assura, 2013 has also seen SM&MS win national contracts with Deloitte, Kwik Fit, Fletcher King and JLL and retaining works with property giant CBRE. Richard Edwards, director of client
services at SM&MS, said: “2013 has started really well for SM&MS with us winning some high profile ‘halo’ clients. “I believe the recession has really opened up some doors for SM&MS, with buying cycle times being reduced and clients looking at their current service offerings to ensure best value. “When the market was more buoyant, our target market of the property management sector would stay with suppliers if they were merely OK. This has now all changed with all stakeholders in the buying process demanding value for money and innovation. “It is this innovation that has been pivotal in our recent growth, with our online compliance systems allowing clients to interrogate risk profiles and demonstrate compliance and audit trail activity. “Our latest offering is a mobile application which allows our clients to undertake audits using handheld devices and is currently being implemented with Peel Holdings and Lambert Smith Hampton. “ T h e s e a re exc i t i n g t i m e s fo r SM&MS.”
A CHARTERED accountancy firm in Kirklees has urged businesses undergoing a change of circumstance to tell the taxman – or risk incurring “significant” penalties. Cleckheaton-based Clough & Company said that businesses making major changes, such as changing owners, legal entities or becoming incorporated, must re-register for VAT. HM Revenue & Customs must also be informed of these changes within 30 days, even if its VAT number is staying the same. Partner Nigel Westman said: “Recently, there have been a number of cases where businesses have been taken over or changed legal entity, for example from a sole proprietor to a partnership, and failed to re-register for VAT. “Even though they have held on to the same VAT registration number and not missed any payments, they have still been hit with significant fines that can regularly reach tens of thousands of pounds. “Previously in cases where HMRC isn’t out of pocket they would usually have taken a pragmatic view, but now it seems they are applying a strict interpretation of the law and pursuing the fines.” Mr Westman said: “Some of these cases are now going to tribunal and although the taxpayers may obtain some reprieve, it’s a very expensive and time-consuming exercise and there is no guarantee the taxpayer will win. “For any businesses facing this dilemma, it definitely makes sense to approach HMRC first before they come looking for you.”
TAX TALK Colin Barratt
ASH bonuses, gift vouchers or food C hampers are popular ways of rewarding employees – but all are chargeable to
It’s time you got more from your accountant
Firm secures UK contracts
Page 5
income tax. Cash and vouchers are also subject to national insurance. Minor benefits such as a turkey or an ordinary bottle of wine should not be charged to tax or NIC, although anything more extravagant will be. Some other tax-free alternatives worth considering are as follows: For those having an annual function, such as a day at the races or Christmas party, which is open to the staff generally (not just certain staff or departments), there will be no taxable benefit or NIC where the expenditure is less than £150 per head. The figure includes the total cost of the function, including VAT and any transport or accommodation provided by the employer, divided by the number of people attending. If each member of staff takes a guest, the £150 limit will apply to each individual attending, not just to the employee. If the cost per head exceeds £150, the whole amount will become taxable, not just the excess, so be careful if you are being particularly generous. Also remember that if there is more than one function in the tax year the £150 per head limit applies to the total cost of all functions. In that case, only functions which total less than the £150 per head will escape tax and NIC. Where an employer gives cash to employees in lieu of a party, then the cash will be subject to PAYE and NIC. Low or interest free loans made to employees are tax free if the amount borrowed does not exceed £5,000 at any time in the tax year. The loan can be used for any purpose and the
exemption will still apply. From 6 April 2014, the threshold will be doubled to £10,000. There are other tax consequences of such loans where they are made to a shareholder who owns (with certain close relatives) more than 5% of the shares in the company. The provision of a car parking space for an employee at or near their place of work is not a taxable benefit. This can include reimbursing the employee’s cost of paying for a car parking space or buying a parking season ticket on their behalf. This exemption is attractive given the cost of town centre parking. Expenses incurred in the provision of health screening and /or medical check-ups by employers for their workers are also tax/NIC exempt, although a benefit will arise if these are provided to the worker’s family. No taxable benefit will arise where an employer provides one mobile telephone to an employee for their private use (mobile phones include smartphones but not iPads or tablets). The tax exemption covers the cost of any line rental and private calls paid by the employer. However, the exemption will not apply where the contract for the mobile phone is between the phone company and the employee. In this case any costs paid by the employer for the employee’s private use will also be subject to payroll NIC. From April 6, 2013, where employers make taxable payments to their employees they are required under the Real Time Initiative to send details to HMRC every time they pay an employee, at the time they pay them and to send this information electronically as part of their payroll process.
Colin Barratt is tax partner at Wheawill and Sudworth chartered accountants, Huddersfield
Standing firm for 150 years Things move fast in the world of financial services. We’ve been around since 1878, so we’ve seen all types of market conditions and know what it takes to move with the times. And, of course, our commitment to providing out of the ordinary service is resolute. At Investec Wealth & Investment we have the knowledge and expertise to help make your financial goals a reality. UK-wide, our specialist teams manage over £22 billion* on behalf of our clients, seeking the best and most tax-efficient returns on their capital. While our office right here in Leeds means we are well placed to oversee your investments, pensions or other financial matters. Transferring your investments across to us to manage for you is also hassle free. Please bear in mind that the value of investments and the income derived from them can go down as well as up and that you may not get back the amount that you have put in. Great relationships start with a conversation, so why not give Simon Kaye a call on 0113 245 4488 or email simon.kaye@investecwin.co.uk investecwin.co.uk
Individuals
International
Financial Advisers
Charities
Court of Protection
*As at 28 February 2013. Member firm of the London Stock Exchange. Member of NYSE Liffe. Authorised and regulated by the Financial Conduct Authority. Investec Wealth & Investment Limited is registered in England. Registered No. 2122340. Registered Office: 2 Gresham Street, London EC2V 7QP. Offices at: Bath Belfast Birmingham Bournemouth Cheltenham Edinburgh Exeter Glasgow Guildford Leeds Liverpool London Manchester Reigate Sheffield