COLIN BARRATT Inheritance tax topics
KAREN WYNARD Salaries and benefits
Column - Page 5
Column - Page 4
An EXAMINER publication
KIRKLEES BUSINESS NEWS The business NEWSpaper for Kirklees
Mike gets the red carpet treatment!
A TEXTILE firm is celebrating its longest serving employee reaching a golden milestone. Customer services team leader Mike Halliwell, who was born and raised in Brighouse, has given 50 years of service to Shelf-based carpet tile manufacturer Interface. Mike, 65, joined Interface in August, 1962, when the company was called Firth Carpets and had its headquarters at Bailiff Bridge. He was just 15-years-old when he started and was given an entry-level role in the general administration department. Over the years, Mike worked his way up to the pricing department, looking after order processing and pricing. His role was vital in making sure that the factory had the correct information to produce its carpets – no easy task during the 1960s, when everything was done manually and nothing was computerised. During the 1970s, Mike was made head of the pricing department and helped to install the company’s very first order entry and invoicing computer systems. In this role, he supported the successful supply and fit team during the time that Firth Carpets was acquired
■ THEN AND NOW: Mike Halliwell pictured in his younger days (above) and today (right)
by US-based manufacturer, Interface. Following various roles in the company, Mike moved over to Interface’s European headquarters in Shelf, Halifax, to become a team leader for customer services.
From the late 1990s until 2002, Mike was part of a team that integrated the Firth Carpets systems into the Interface ones for the millennium 2000 compliance. As the company’s customer service teams relocated to Shelf, Mike was
praised by both colleagues and customers for the seamless transition. Mike continues to hold his role in customer services and now works part-time, three days a week with no immediate plans to retire. Said Mike: “When I think back to the 60s when I started at the company, it’s amazing to see the changes that have happened in the last 50 years. “ I was here when the first computers came in and seeing the offices now makes me proud of how we adapted and what we accomplished. “Interface has always been like a family. I’ve seen lots of generations working here and have made close friends. I look forward to continuing my work here for as long as I can.” Dave Bullock, customer service director at Interface, said: “Mike’s the sort of employee that every manager would like. He’s hardworking and conscientious and always willing to go that extra mile for the customer. “Mike’s firmly part of the Interface family at Shelf and we’re very grateful to all the years of service that he’s has given us and continues to give.” Mike is married with two grown-up daughters. Besides his work at Interface, Mike enjoys photography and exploring the local area.
Full order book for firm celebrating 40 years AN engineering firm is celebrating 40 years in business – with a full order book. HB Bearings, based at Honley, has grown to become a leading name in the special bearings industry. The company was founded in 1972 in Milnsbridge by Norman Hirst with the purpose of modifying and manufacturing bearings. Mr Hirst had previously had 20 years experience working with companies such as Ransome & Marles and Pollard and Hoffmann.
The company grew rapidly and in 1977 moved to new larger premises in Honley where it is still situated. Today, it is jointly owned by Norman Hirst, chairman and Graham Hirst, managing director, who has been in the family business for 28 years. Graham Hirst said: “The future looked excellent with a healthy demand for our products.” HB has pursued a path of steady growth over the 40 years, expanding on the Honley site four times. Ongoing investment in
machinery and trained staff has helped HB keep pace with the demands of its ever increasing customer base. HB employs 40 people involved in the manufacture of special bearings. At the outset, bearing modifications accounted for about 90% of its output. Over the years, the company has come full circle with manufacturing now accounting for 90% of its output. A wide range of modifications to bearings are still available – with the firm regularly undertaking work for
major bearing manufacturers. Said Mr Hirst: “Keeping abreast of changes in Industry and developing the manufacturing capabilities has helped HB Bearings attain the position it holds today. “Indeed such is the demand for HB’s services that during the last few years of austerity, overtime working has never once been cancelled!” Last year, Norman Hirst, celebrated his 80th birthday by treating family, friends employees and their partners to a weekend break in Bruges, staying in four-star hotels.
■ DEMAND: Graham Hirst, of HB Bearings
INSIDE Greener practice LAW firm Chadwick Lawrence has teamed up with a waste specialist to introduce greener practices to the workplace. The firm has recruited Elland-based Orchard Environmental to help step up its recycling and environmental practices following Chadwick Lawrence’s merger with Godloves Solicitors, which resulted in it acquiring four new sites across Yorkshire.
● Full story - Page 7
The most trusted news brand in the business
examiner.co.uk
2 8 , Au g u s t , 2 0 1 2
Winning hand A FIRM advising businesses on processing credit and debit card payments has made a job-creating move to a former pub. Acceptcards has transferred operations from its unit at Dean Clough Mills in Halifax to larger premises at The Wheatsheaf in Elland. The move follows significant growth over the past four years – despite the tough economic climate.
● Full story - Page 6
KIRKLEES BUSINESS NEWS
local
Charities get help to stake a claim A PERSONAL injury specialist is providing a boost for local charities. Chartered legal executive Ray Deans, who lives at Deighton, has set up Legal Consultancy Services to advise individuals on making personal injury claims – with a pledge to donate £150 to the charity of the claimant’s choice for each successful claim. Mr Deans was born in Lisburn, Northern Ireland, but came to England in 1997 to read law at Wolverhampton University. He spent 13 years as a frontline paramedic with the NHS before working as a personal injury adviser to a national trade union and going on to head and supervise personal injury departments in a number of law firms. He has worked in
personal injury since 2000. With his new business, Mr Deans aims to provide an alternative to the “high volume” claims management companies and provide a buffer between the claimant who may feel pressured into accepting a settlement and the insurance companies. “We make sure the claims are worked on by our experts and we deal one-to-one with the client,” he said. “A lot of people are put off by the fact that the claims system can be like a sausage machine. “It is very impersonal. But even the most simple accident may be the worst thing that has ever happened to the client and it is a very important matter to that individual.”
Said Mr Deans: “My aim is to represent the individual. They deserve a fair crack of the whip.” Mr Deans, whose business is based at Brighouse, is a corporate supporter of Elland’s Overgate Hospice. He is also looking to work with other charities as part of his commitment to run an ethical business. “Every time there is a successful claim, a charity will get a £150 contribution,” he said. “It is as simple as that. “That contribution doesn’t come out of the client’s damages. I am able to make the donation on the client’s behalf because I don’t charge referral fees.” Said Mr Deans: “I am a great believer in community and supporting local charities.”.
■ GOOD CAUSES: Ray Deans
Loyalty scheme helps firm bloom A LOYALTY scheme is growing for a Huddersfield garden centre business. The Your Armitage’s customer loyalty programme for Armitage’s Garden Centres has celebrated its first year in operation with more than 10,000 members. The retailer, which has sites at Birchencliffe and Shelley, attributes 50% of its weekly transactions to members of the scheme and is set to drive the programme forward during its second year. The scheme was devised by Manchester-based uber, a company specialising in marketing strategies. It provides members with exclusive discounts, targeted offers and benefits at the garden centres as well as personal rewards. Uber began the project 18 months ago by undertaking a customer research project to determine the
identity and structure for the recommended programme. Uber managing director Sarah Cross said: “Armitage’s Garden Centres has been a really exciting brand to work with over the last 18 months as they’ve been around for so long and are well known in the area. “It was clear to see that we had a well-established base of brand devotees when we kicked off with a customer research project back in April, 2011. This has made the process of orientating the business even more around the customer through Your Armitage’s fabulously rewarding. “I’m really pleased that we’ve managed to pass on a great deal of loyalty expertise to the Armitage’s team and I wish them the best of luck as they continue to grow the programme in-house in the future.”
Will Armitage, managing director of Armitage’s Garden Centres, said: “Going through the recent data analysis process confirmed our thoughts around how successful the programme has been so early in its operation. “Uber’s expertise has allowed us to create a loyalty programme in which our customers are really engaged and this has been proven by consistently higher average spends from Your Armitage’s members alongside impressive levels of revenue associated with programme campaigns. “We’re really excited to use uber’s recommendations to get even more sophisticated with customer segmentation within Your Armitage’s over the coming months so that we continue to ‘reap the rewards’ of our customer loyalty strategy.”
■ PLEASED: Will Armitage, of Armitage's Garden Centres
All it takes is a little understanding CHANGES proposed by HM Revenue & Customs will mean individual taxpayers have to understand all aspects of their tax obligations – even if they use an accountant. That’s the message from Cleckheaton-based chartered accountancy firm Clough & Company. The warning follows HMRC publishing plans to simplify an existing concession under which HMRC write-off tax arrears when it
has made mistakes or failed to act on information submitted. Nigel Westman, partner of Clough & Company, said: “These changes are one of the biggest developments to come out of HMRC in recent years and will require taxpayers to understand a lot of the complexities and vagaries of our tax system. “The concession currently enables HMRC to write off tax, usually for tax years ending more than 12 months
ago, if it has failed to make “proper and timely use” of information in its possession and it was reasonable for the tax payer to believe their tax affairs were in order. “Although HMRC says it plans to make the concession more user-friendly, the proposed changes mean this will no longer apply for mistakes made by HMRC. “This means full responsibility for making sure all information is
accurate will lie with the taxpayer, even if they have authorised someone to act on their behalf when it comes to their financial affairs. This includes telling HMRC about changes in circumstances that will affect payments or claims and checking tax codes to ensure all information is up to date. Also taxpayers will be expected to record details of the dates they contact HMRC and the name of the person they speak to.”
UK retailers seek to increase sales from overseas TWO-THIRDS of British retailers expect their overseas sales to increase over the next five years – and name Germany as the market most likely to provide growth, according to research from Barclays. Almost a quarter of retailers said Germany was their number one
choice for overseas expansion in the next five years, closely followed by China and Australia. The results support recent reports that Arcadia is to open its first outlets in Germany in partnership with Karstadt while Next is launching a Chinese-language site later this year.
Richard Lowe, head of retail and wholesale at Barclays, said: “British retailers haven’t ventured in to Germany for a very long time and it is only in the last few years, as the economy has strengthened, that it has come to the fore again. “The beauty of Germany, for clothing and footwear retailers in
particular, is that it has a similar climate to the UK so there is no need to spend time and money adapting lines.” Some 68% of British retailers generate at least some of their sales overseas, although the percentage of sales made abroad remains relatively small.
Page 2 Vocal support for club ONE Town supporter is certain to be in good voice this season. Skelmanthorpe-based audio and visual specialist Direct Voice & Data has signed as an official partner with Huddersfield Town. As part of the relationship, Direct Voice & Data has provided the Leeds Road Academy site with a new telephone system. Town fans will also see Direct Voice & Data branding at The John Smith’s Stadium and at Canalside. Direct Voice & Data will also become a new co-sponsor of the Huddersfield Town Enterprise Academy powered by YBG UK. Town commercial director Sean Jarvis said: “We are delighted to welcome Direct Voice & Data on board as an Official Partner of the Club for the upcoming season in the npower Championship” “Direct Voice and Data has been around for over 27 years and is one of the most respected companies in corporate circles, so its partnership with the club is very exciting.” Dave Henderson, managing director of Direct Voice & Data, said: “It is fantastic to now be a part of Huddersfield Town’s success and we look forward to working with one of the most progressive football clubs in the country.” Direct Voice& Data offer business telephone systems and IT solutions to all sizes of business across the UK.
Drop-in sessions for firms A CLECKHEATON-bsed specialist in human resources and employment law is running free drop-in sessions for local firms. Howarths, based at Newbury Court, Brooke Street, is opening its doors to small and medium-sized businesses every Wednesday afternoon to provide general advice on legal issues and procedures involving employment. The sessions will run until the end of November – with the first taking place tomorrow.
KIRKLEES BUSINESS NEWS
profile
Andy steers a new course SOME businessmen like to show off their wealth and success with a fleet of high-powered cars. Andy Lee’s preferred mode of transport is a modest fuel-efficient Citroen C3 for work – and a collection of bicycles for fun! Says Andy: “There’s only one reason to have a car – to get from A to B! My car gets me from A to B as many times as I like at 60mpg. However, I love cycling and I have a fleet of bicycles, one of which is 30 years old. I have a road bike, a tour bike, a fold-away tour bike and two mountain bikes. I do a lot of cycling and I like the outdoor life!” Andy, who worked in education for many years before moving into coaching and personal development, says: “I still cycle regularly with staff and ex-staff from Almondbury High School. We go to Brittany for a cycling holiday every year.” The bikes may get only an occasional outing for now, however, as Andy is busy preparing to take part in the forthcoming Kirklees Business Week, which begins on Monday, September 24. Andy will be delivering three seminars during the week aimed at helping business owners achieve greater success. Andy’s enthusiasm for enterprise is evident. He admits to being energised by working with business owners – both through his coaching activities and as franchise owner of the Entrepreneur’s Circle for Huddersfield and Halifax. Entrepreneur’s Circle is the brainchild of renowned serial entrepreneur Nigel Botterill, who has built a series of multi-million pound businesses and is thought to have helped a “mere” 8,000 people with their business ideas. It’s billed as the largest membership organisation in UK fully dedicated to helping small and medium size businesses grow. It operates as a franchise and is already well-established in many parts of the country. Andy, who lives at Wilshaw, near Holmfirth, was introduced to Entrepreneur’s Circle at a networking event and decided to
join. “I joined in January and by April I had bought the franchise for Huddersfield and Halifax,” says Andy. “I learned an astonishing amount about business in that short space of time. It‘s a really good fit with my coaching business. “Entrepreneur’s Circle changes people and helps them to understand their businesses better, to understand their lives better and to get more out of both. “It’s not about networking or sitting around a table – it’s about practical stuff and giving people the mindset of an entrepreneur. “Through Entrepreneur’s Circle, members stop being a business owner and develop into an entrepreneur by recognising how they can build more business opportunities.” Andy gives some examples. “One member is a hypnotherapist looking to launch a business providing high-end personalised dog coats. You couldn’t get more different than that! Another person who has launched two businesses since becoming a member is now launching a third – a low-cost online booking system for bed & breakfast owners. Says Andy: “What business is about is understanding what people want or need to buy and being able to supply it in a way
■ COACHING TIPS: Andy Lee, of Entrepreneurs' Circle in Huddersfield and Halifax
Page 3
Andy Lee
nobody else can. Entrepreneur’s Circle is about taking business ‘A’ and ending up with something completely different – and making a lot more money and getting more out of life.” Entrepreneur’s Circle provides members with monthly magazines, Nigel Botterill’s best-selling book and access to seminars on subjects such as websites, customer service, how to use a database and personal productivity – the last explaining how business owners need to spend a proportion of their time working “on” the business as opposed to “in” the business. There’s also online learning covering issues such as copyright law and winning customers as well as an application which allows members to get an honest appraisal of their marketing methods. Says Andy: “People join the Entrepreneur’s Circle and it takes them out of their comfort zone – and they develop as people as a result.” Andy’s foray into the world of business follows a career in teaching. Andy, who was born near Chester, went to Hull University to take a degree in history and American studies. “I loved this side of the Pennines so much I knew I wanted to spend the rest of my life here,” he says. “It was always my vocation to teach. My first teaching post was at Colne Valley High School. The community and the young people there were fabulous. I was there for seven years and it was incredible, lovely and a lot of fun.” Andy moved to Almondbury High School, where he spent 17 years and specialised in special needs teaching, before joining Nortonthorpe School as deputy head and later becoming headteacher. His teaching career now behind him, Andy says his experiences as a leader and manager in education have helped him in his more recent role. “There are similarities,” he says. “The similarities are things
to do with personal development, being innovative, improving people’s prospects, working with people who need to acquire new skills and people who are at a difficult stage in their lives. “All the stuff I was doing with school staff and pupils I am now doing with business owners.” Says Andy: “Business owners need a completely different range of skills. “They begin as the person who makes a product and become the person who manages other people who make the product.” What a lot of business owners need to recognise is the importance of adding value, says Andy. It’s a message that can get lost in the battle to win business in a difficult economic climate. “A lot of businesses think the way to win more business is to cut prices,” he says. “They think ‘If everyone else is selling something at £30 I’ll sell it at £29 and make more money’. It doesn't work like that “Price cutting is not good for customers because the business becomes unsustainable and it’s not good for the local economy. “The key is to find ways to differentiate your business and add value. “That means giving the customer something they don’t expect – either additional goods or services that were not part of the deal or additional levels of customer service.” Andy, who is also a member of the BNI Terriers networking group, which meets at Lockwood Park, sees his task at Entrepreneur’s Circle as “helping business owners escape mediocrity to get the life they want”. He says: “What is fantastic about working with business owners is that they are incredibly positive and optimistic. “They may be competitors, but they are really supportive of each other in a way that you wouldn’t find in any other walk of life.”
HENRYK ZIENTEK
Role: Owner Age: In my 50s! Family: Partner Stella and children Will, 24, Sarah 21 and Katie, 17 Holidays: I go on a cycling trip to Brittany every year. We also love Shropshire Car: Citroen C3 First job: Salesman at MFI in Chester Best thing about job: Seeing people grow and change Worst thing about job: The uncertainty of being a business owner Business tip: Follow up. Most British businesses follow up a potential customer six times. Most British customers buy after eight contacts. There’s a gap to bridge!
Entrepreneur’s Circle Work: Business coaching Site: Wilshaw, near Holmfirth Phone: 01484 887074 Email: andy.lee@business growthadvisor.co.uk Website: andylee.coaching .co.uk
Print/Copy Solutions from • Facsimile Printers • Full Colour Printers • Black and White Printers • Wide Format Printers • Production Machines Digital, Colour and Black and White • Software Solutions
Six reasons why you should choose Copymark 1.Value for money whilst improving quality and productivity 2.We can help you find out the TRUE cost of your current expenditure 3.We offer a wide range of printers and photocopiers to suit all your needs
4.We provide technical support and training 5.Reduce your carbon footprint and improve your environmental credentials 6.Help you develop a clear understanding of your prints and optimize your output
Contact us today for your no obligation FREE PRINT AUDIT:
01924 520199 Unit 8 & 9, Ponderosa Business Park, Smithies Lane, Heckmondwike WF16 0PR
local
Page 4
Still ‘testing’ for services BUSINESS conditions in the UK services sector remain testing, a survey by the CBI said today. Both consumer services and business and professional services reported further falls in business volumes and values in the three months to August – against expectations that growth would turn positive. The latest quarterly CBI Service Sector Survey found that firms in consumer services reported volumes and values falling at a similar pace to the previous quarter, while optimism regarding the business situation was significantly lower than three months ago. Business activity is expected to see little change over the next three months, the survey said.
LOOKING TO BUY OR SELL A BUSINESS? Use our knowledge and experience to guide you through the process: ➢
Valuation advice
➢
Negotiating the deal
➢
Raising finance
➢
Due diligence
➢
Tax mitigation ideas
➢
Getting the job done Our independent and partner-driven approach ensures clients receive advice they can rely on and trust. To discuss your plans in confidence please contact David Butterworth
W&S
Wheawill & Sudworth Experience you can count on
P: 01484 423691
E:david.butterworth@wheawills.co.uk W: www.wheawills.co.uk
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
It’s not just about pay! HILST most of us weigh W up the cost of the key financial decisions we take
throughout our life (such as the cost of a mortgage and the price of a new car) perhaps the one we do not often scrutinise in as much depth is as we should is a change of employment. Whilst it is straightforward to work out what a pay rise means in terms of take home pay, it is also important to quantify the value of any other benefits you may be giving up. To illustrate the potential impact let’s consider the following scenario. David, 35, is married with two children. David works as a payroll manager for £28,000 p.a. but has recently applied for and been offered another job with a salary of £36,000. One thing that David is aware of is that he will lose private medical insurance and – whilst he is a member of his current employer’s 1/60ths final salary pension scheme – his new employer operates a Money Purchase scheme. He currently has to contribute 6% of his salary to the final salary pension scheme, although in respect of the new scheme his minimum contribution is 3% (matched with an equivalent contribution from the employer). D av i d a l s o c u r r e n t ly h a s death-in-service benefits of four times salary. His new employer does not offer this benefit. David has sought advice primarily on arranging some private medical insurance and life assurance for himself and family to replace the cover he will lose with his employer. It is worth at this point considering the benefits that David will lose by changing employment. On pensions, David currently contributes £1,680 (gross) p.a. to
FINANCIAL FOCUS Karen Wynard
his employer’s pension scheme. For this David accrues 1/60th final salary for each year’s service – currently, therefore, this equates to around £466.66 p.a. for each year’s service. A s s u m i n g D av i d ’s s a l a r y increases only in line with inflation (which we will assume to be 3.5% a year) and that David has the potential for 25 years further accrual in the final salary scheme, this equates to an additional potential annual pension of £27,570 (or £11,666 in today’s equivalent terms). But what fund would David need to accrue in his new pension scheme to provide these benefits? Assuming an annuity which builds in a 50% spouse’s pension and RPI escalation (using an approximate annuity rate of 2.62%) he would need an approximate fund of £1,052,290 To achieve this figure would require annual contributions of around £18,094 p.a. assuming investment growth of 6% p.a. (after charges). Given his combined individual & employer contributions will total £2,160 (gross) he might need to save an additional £15,934 (gross) p.a. (or £12,747 net of tax relief) to match the benefits he could have received from his old scheme. Accounting for National Insurance, David would need to earn £18,745 to cover the net contribution. This is a whopping £398,350 of additional contributions (gross) over the next 25 years. ● Death in Service To replace the death-in-service cover David will lose, based on current rates, would cost around £120 p.a. for a 25 year policy with a
Karen Wynard is head of corporate services at Eastwood & Partners (Financial Services) Ltd
sum assured of £112,000 (with the benefit increasing in line with inflation). Of course premiums will vary between insurance companies and this assumes David is in good health and can obtain cover on normal terms. Accounting for tax and NI David would need to earn around £175 to cover this additional cost. ● Private Medical Insurance Again, whilst the actual cost of a policy will depend on the insurance company selected, the level of cover required, and the exact type of policy a typical premium might be around £25 per month (£300 p.a. – or £440 accounting for tax and NI). So David will actually need to earn the following amounts in order to replace the benefits he will lose –additional pension contributions £18,745 (assuming 6% growth p.a. after charges), life cover £175, PMI £440, £19,360 (against a salary rise of £8,000). Clearly the above comparisons are largely academic as David is unlikely to stay in the same role until retirement – particularly if he had no prospect of significant salary increases! Of course other factors will also be just as (if not more) important such as future job security, career prospects, travel costs, and other possible benefits on offer (e.g. a company car). What this article hopefully indicates, however, is the value in considering the costs (as well as the benefits) of any potential new employment when making a decision. At the very least, being better informed puts you in a stronger position to negotiate with the prospective employer as you will have a better idea of the worth of your current salary and benefits package. Levels and bases of and reliefs from taxation are subject to change and their value depends on the individual circumstances of the investor. The value of investments and the income from them can fall as well as rise and is not guaranteed. You may not get back the amount originally invested.
KIRKLEES BUSIN
Stars of the future
THE search to unearth the brightest of Britain’s rising female stars is under way with the launch of the Women of the Future Awards 2012. The awards, supported by Shel UK, celebrate the next generatio of Britain’s high-potential wome aged 35 and under who are breaking the mould and setting the agenda in business, the art science and technology. Last year’s winners included Hayley Gait-Golding, who sold her own house to fund her drea of creating the successful healthy snack company BEAR nibbles, now a nationally-stock brand, as well as 18-year-old Hannah Blyth who discovered two asteroids during a work experience placement. With Cherie Blair as patron, the mission of the Women of the Future Awards is to showcase and reward young talent, whilst creating new, positive role models for future generations. Over the past seven years, Women of the Future Awards have been presented to ground-breaking female pionee including Thea Green, founder the UK’s leading nail brand Nail Inc; Lisa Smosarski, launch editor of Stylist magazine; Sam Smith, founder and chief executive of city broker finCapp and Alix Pryde, who since winning a Woman of the Future Award has gone on to become director of BBC distribution. Founder Pinky Lilani said: “201 is one of the most momentous years in our country’s history; more so than ever, now is the time to showcase all that Britain has to offer and this includes o young female talent. “Our aim for the awards is simp to unearth the brilliant women go-getters, change-makers and exceptional grafters and give them the platform they need in order to become role models an inspire the next generation. “We’re looking for women who have really pushed the boundaries and made a significant contribution to their fields, and are encouraging the to put themselves forward. If th sounds like you or if you know a deserving winner, then I woul strongly encourage you to nominate them for these influential awards.” Graham van’t Hoff, chairman of Shell UK, added: “Every year, w witness an overwhelming numb of inspirational young women emerge, each with their own stirring story and unique aspirations, and we have no doubt that 2012 will be any different. The closing date for entries is Friday, September 21, 2012, with the awards ceremony taking place on Tuesday November 20 2012, at the London Marriott Hotel Grosvenor Square. Go to awards.womenofthefuture.co.uk
NESS NEWS
e
e
ll ion men
g ts,
am
ked
e
t
ers of ils
m
p;
local
Page 5
Tackling taboo of death and taxes
AKING measures to mitigT ate tax on one’s demise is often regarded as a taboo sub-
ject, but careful and early lifetime planning can significantly reduce the loss of wealth from a deceased’s estate. An individual’s estate is normally comprised of assets such as the value of their home, savings and investments assets like quoted shares as well as personal possession such as jewellery. Amounts owed by an individual at the date of their death are taken into account to determine the value of their net estate. Where an individual’s net estate exceeds the nil rate band of £325,000 (£650,000 for married couples) on death, Inheritance Tax (IHT) of 40% is levied on that excess. Even with the continued lack of growth in the economy the incidence of IHT is no longer the domain of the very wealthy. For those with modest assets but not significant pension income there is often not much that can be done to mitigate the IHT cost for
TAX TALK Colin Barratt
the next generation. If you need the assets for security of income in your retirement you cannot also give them away to mitigate IHT. There are some insurance company products available to partly achieve this but should only be used with great care and with complete understanding. Those who are less reliant on capital – and who have already made adequate financial provision for their spouse – could make sizeable gifts during their lifetime to children or grandchildren to save tax in the future. Gifts of up to £3,000 per individual can be made annually and are completely ignored for IHT
purposes. If the £3,000 annual exemption has not been used in the year it can be carried forward to be used in the following year, potentially giving scope for up to £12,000 to be gifted, for married couples. Where individuals have surplus income, after taking account of all domestic expenditure, they could make annual gifts out of this surplus which could be exempt from IHT, as long as the gifts do not affect your current lifestyle. This may be of benefit to say grandparents wishing to help their grandchildren who are faced with increasing educational costs whilst at the same time helping to mitigate their own IHT liability.
Colin Barratt is tax partner at Wheawill and Sudworth chartered accountants, Huddersfield
This type of gift must be intended to be made on a regular basis and a good way of demonstrating this would be to set up a regular standing order payment from you to the recipient. You do not need to commit yourself for a fixed period of time but your intention must be to make more than one gift. Gifts made by parents to their child on the occasion of marriage are also exempt from IHT up to £5,000 per parent (£2,500 for gifts made by grandparents). Lifetime gifts in excess of these exemptions will be free of tax provided the donor survives 7 years thereafter. For those contemplating making sizeable gifts, the use of ‘nil rate discretionary trusts’ during lifetime or through via their wills can still play an important role where taxation issues are not the only ones – for instance, where individuals are concerned the ultimate destination of assets and protecting such assets from young or inexperienced beneficiaries.
Patently helpful COMPANIES with patent-protected products are getting a helping hand from the taxman. David Butterworth, of Huddersfield chartered accountants Wheawill & Sudworth, said Kirklees firms needed to start planning now for the Patent Box tax regime, which offers businesses the opportunity to save tax on profits generated from patent rights and patented products. He said that while the new rules take effect from April 1, 2013, action is required well before then to maximise the available tax benefits. “Local companies can enjoy a tax rate of only 10% on profits derived from patent-protected products and rights if the qualifying conditions are met,” said Mr Butterworth. “Key points to address now are the structure of the business, the level of formal patent protection secured and the ability to capture accurate data to identify the relevant profits. “HM Revenue & Customs has recently issued some detailed guidance to help companies establish if they can benefit and what action they need to take.”
e
12
It’s time you got more from your accountant Thinking… outside the books
in our
ply
d
nd
added value services include…
r em his of ld
f we ber
th
0,
uk
Tailored programme to maximise profitability Tailored tax efficient solutions ■ DRIVING AHEAD: Richard Guthrie (right), of West Yorkshire Trading Standards, presents the award to Adam and Chris Oddy, of John Shaw & Son
In the driving seat FOUR Huddersfield garages have driven off with awards for excellent customer service The awards were presented under the West Yorkshire Motor Trade Partnership, backed by West Yorkshire Trading Standards. The partnership aims to maintain high standards in the motor trade and provide
customers with reassurance. The dealerships to gain awards were Huddersfield Volkswagen and John Shaw & Son, both on Leeds Road; Colin Appleyard at Lockwood; and Quarmby Garage at Quarmby. Huddersfield Volkswagen has held the award for the past two years while the others have held the awards for five years.
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
KIRKLEES BUSINESS NEWS Jobs plan for former colliery MORE than 70 jobs are to be created after a regeneration business secured a £10m funding package to redevelop a former colliery. Yorkshire-based RecyCoal, which recovers coal from disused mines and waste spoil heaps before selling it to energy providers, expects revenues of more than £60m over four years from the site at Rossington, near Doncaster. The agreement with Lloyds Bank includes loans to fund the redevelopment of the spoil heap at Rossington and construction of on-site plant, as well as hedging facilities to support the firm’s overseas expansion. The business is looking at further UK sites to redevelop as well as overseas opportunities and it intends to use Rossington, which closed as a colliery in 2007, as a base to train employees before assigning them overseas. RecyCoal’s finance director, Steven Beaumont, said: “This latest agreement is crucial to our ongoing growth.”
Easy does it! A PROVIDER of new and managed workspace has secured its first occupant in a new phase section of offices at its business centre in Leeds. Evans Easyspace has converted one large office space in part of its development at Burley Hill into seven smaller offices ranging in size from 20sq ft to 355sq ft with an additional meeting room added to the centre. The Burley Hill site now features 50 offices and three meeting rooms. IT and web design company Blue Mantis is the first client to take space within the new office phase at the Evans Easyspace site, having acquired a 320sq ft space. Centre manager Chris Cherrington said: “I’m delighted we have secured our first client for the new phase of office suites.”
property
Page 6
Company plays an ace at Elland
A COMPANY advising businesses on processing credit and debit card payments has made a job-creating move to a former pub in Elland. Acceptcards aims to pull in more business after transferring operations from its unit at Dean Clough Mills in Halifax to larger premises at The Wheatsheaf in Elland. The move follows significant growth over the past four years – despite the tough economic climate. Acceptcards is a leading independent consultancy offering expert advice and assistance to any business in relation to processing credit and debit card payments. Company director Richard Bradley said: “Many businesses naturally turn to their own bank to arrange a card processing facility without realising there is an alternative and often at a much lower cost. “Our aim is to ensure that all businesses have the opportunity to accept card payments at a fair price and reduce what can be a significant overhead.” The company was founded in 2005 by ex-bank employees Mark Pearson and Richard Bradley, who saw a need for an independent organisation in this previously overlooked industry. They worked on a part-time basis until 2007 when they launched full-time and took on their first consultant. By the end of 2008, they had achieved turnover of £100,000 moved into
■ THINKING BIG: Acceptcards director Richard Bradley and administration manager Sheenah Bond at the Elland offices
their first office and taken on an additional member of staff to manage the administration. During the next three years, they saw significant growth – employing a further seven people and moving to Dean Clough. Turnover doubled in 2011 to stand at £230,000. Mr Pearson said: “Our customer base has doubled in the last three years. The economic situation has actually worked to our advantage – businesses are much
more cost-conscious than they used to be and are eager to look at a d d i t i o n a l way s o f s av i n g money.” He said: “On average, we save our clients around 30% of the costs they receive by going direct to the banks and in 99% of cases our service is free. We have assisted over 4,000 businesses to date with a combined card turnover in excess of £300m.” The majority of business comes via referral from the firm’s profes-
sional partners, which include accountancy networks, trade associations, non-clearing banks and many other professional introducers. “We have developed a very successful partner programme that is open to any professional individual or organisation whose clients or members can benefit from our service,” said Mr Bradley. “We work with small IFAs and accountants to national trade associations such as The Forum of Private Business. By the first quarter of 2012, Acceptcards again found itself at capacity. Turnover had increased by more than 50% to £370,000 and further expansion planned for the year ahead meant a search for new premises. The company came across The Wheatsheaf at Briggate and knew on first viewing it would be perfect. Said Mr Pearson: “The building was recently refurbished and has been finished to a really high standard. “We regularly travel to and from London for meetings, so it’s really convenient for motorway access. Everyone is delighted with their new spacious work stations and with staff travelling from all over the region we think we made the right decision in choosing Elland.” Now Acceptcards plans to recruit a further two members of staff this year and a projected turnover of £500,000 by 2013.
Strong demand at Persimmon HOUSEBUILDER Persimmon has reported strong demand for homes in West Yorkshire. Commenting on its half-year results, Wayne Gradwell, regional managing director, said the company had made an excellent start to 2012 with underlying profit before tax up by 65% on last year at £98.7m and legal completions in the UK up by 6% to 4,712 from 4,439 before. He said: “The start to the year has been extremely promising, with weekly private sales reservations up by 18%. “We are working hard to deliver new homes to people in the region, whether this is private housing through our brands Persimmon Homes and Charles Church or affordable homes through Westbury Partnerships. “In the coming weeks and months, we will open new developments in Robin Hood, Hipperholme and Garforth and have already welcomed hundreds of visitors to our new show homes in Wath-upon-Dearne, Bradford and Yeadon. “Although the UK housing market remains constrained by the reduced availability of mortgage credit, we are confident that schemes like the Government-backed 5% deposit mortgage product NewBuy, now with new lower rates, should help affordability for
our local house buyers.” Mr Gradwell said part-exchange had been extremely popular for Persimmon in the first six months of the year with more than 20% of private sale customers using the incentive in the challenging market. He said: “Our objective is to continue to find good land opportunities locally to ensure we continue to build much-needed housing. “We want to work closely with local communities to deliver excellent new sites from our strategic land bank in line with the requirements of the new National Planning Policy Framework. “Our employees in the region have worked hard to achieve these results and are now focused on delivering more quality housing to the local area.” Among other figures, average selling prices rose by 7% to £171,206 in the first half, helped by Persimmon’s strategy of building more family homes, while the number of completions rose 6% to 4,712. The York-based group’s margins were boosted by more than three percentage points to 12.2% as it also benefited from building on cheaper land acquired since the financial crisis.
■ OBJECTIVE: Wayne Gradwell, regional managing director for Persimmon
KIRKLEES BUSINESS NEWS
property
Law firm focuses on ‘green’ issues LAW firm Chadwick Lawrence has teamed up with a waste specialist to introduce greener practices to the workplace. The firm has recruited Elland-based Orchard Environmental to help step up is recycling and environmental practices following Chadw i c k L aw re n c e ’s m e rg e r w i t h Godloves Solicitors, which resulted in it acquiring four new sites across Yorkshire. Asma Iqbal, partner at Chadwick Lawrence and head of corporate social responsibility said: “As a firm, we are conscious of becoming a greener practice and have many new initiatives in place, including a cycle-share agreement, a wastage policy and recycling initiatives. “We have worked hard to encourage recycling amongst our employees and all the measures we’ve introduced have helped us lower costs throughout the business.” The company has worked with Orchard Environmental to improve its recycling rates and comply with Government waste regulations. Orchard is now integrating the same waste principles throughout the business to include newly-acquired sites. Chadwick Lawrence has its head office at Railway Street in Huddersfield and offices in Wakefield, Halifax, Pudey and Morley. The takeover of Godloves has added offices in Leeds city centre,
■ INITIATIVES: Asma Iqbal, of Chadwick Lawrence, and Justin Holley, of Orchard Environmental
Chapel Allerton, Beeston and Garforth. Justin Holley, of Orchard Environmental, said: “Going green not only means businesses can reduce the impact they have on the environment, it also makes good business sense. “Significant savings can be made simply by educating staff to segregate waste leading to new revenue streams from recycling.
“The rising cost of sending waste to landfill is also encouraging businesses to look more carefully at green options and shop around for the best prices for waste and recycling. “The government has been gradually pushing up landfill prices for businesses to encourage greener practices and the policy is now having a noticeable impact on recycling levels.”
Expansion for property team PROPERTY agency CBRE has expanded its pubs and leisure team in West Yorkshire. Six former Colliers International staff have joined CBRE – three of them joining the existing London team and three forming a new service from the Leeds office. Senior director Andrew Watt, director Sam Frankland and senior surveyor Clair McGowan are recognised market leaders within
the pubs and leisure sector in the Midlands and North of England. Their expertise over this sector includes valuation, agency lease and strategic consultancy and investment advice. They have sold more than 300 pubs between them in the last three years. Current clients include Punch Taverns, Enterprise Inns, Marstons and Mitchells & Butlers. In addition to their extensive pubs
knowledge, the team deals with restaurants, themed and branded bars and clubs, cinemas, health and fitness, casinos and bingo. Mr Watt, who leads the regional specialist markets team at CBRE, said: “We have formed a network of excellence in the specialist markets sector across the UK covering the pub, leisure, healthcare and alternative assets sectors.”
Workloads remain ‘patchy’ BRITISH architects see no prospects for an immediate improvement in their workloads, according to an industry survey. The latest Future Trends Survey from the Royal Institute of British Architects shows mixed fortunes in employment and workloads for architects working in different UK locations and sectors. Architects in London are the most optimistic about their future workload – with a balance of plus 10 – while Scotland at minus 20 and Northern Ireland at minus 60 remain the most
There was a slight improvement in the picture for staffing with the index standing at nought for July against minus 2 in June. On balance, practices are predicting that they will be able to maintain current staffing levels – but there is little sign of any immediate prospects of growth in overall recruitment. July saw 26% of respondents reporting that they had personally been under-employed in the previous month. Adrian Dobson, RIBA director of
continue to report intense fee competition and a lack of project financing. “Although none of the Future Trends Survey’s individual sector forecasts are predicting growth in workloads over the next quarter, the high-end private residential market remains resilient in terms of work in progress, sustained by low interest rates and inward investment. “The situation clearly remains very patchy with some practices describing conditions to be extremely challenging whilst others report full
Page 7
Lessons for region from London 2012 TWO of the companies which played a major role in making the London Olympics such a triumph will share their experiences with Kirklees firms. Leading private and public sector decision makers from across the Leeds City region, which includes Kirklees, will find out more about the infrastructure skills brought to bear for the 2012 Games. David Tonkin, UK chief executive of engineering design consultancy Atkins, will be among more than 50 authoritative speakers at the Base Leeds City Region event at Bradford University next month. He will be joined by Paddy Turnbull, strategic director and public sector director for GE. Their presentations will cover embedding sustainable solutions into development projects, managing energy for “smart cities” and the role of renewable energy. Both Atkins UK and GE were key players in making “the most sustainable games ever” a reality – from transforming brownfield sites of east London into the Olympic Park to powering the venues with low emission, eco-friendly energy. Their challenge now is delivering the “legacy” of London 2012 – beyond
inspiring a generation of young athletes – to applying the achievements and innovations for creating sustainable infrastructure for cities, towns and rural communities nationwide. Base, which stands for Business and a Sustainable Environment, comes to Leeds City Region on the back of similar events in London and Glasgow which have proved highly successful catalysts for realising the economic potential of sustainable low carbon infrastructure and built environment. Other keynote speakers include former London mayor Ken Livingstone; Government minister Andrew Stunell; Charles Abel Smith, of UK Green Investments; and IBM’s vice president of strategy, Steve Wood. The event takes place on Tuesday, September 11, at Bradford University’s Richmond Building, which has been commended nationally for its outstanding green credentials. The event is free for business and public sector professionals in relevant decision-making roles. For further details and to book online, go to www.basecities.com/leeds.
KIRKLEES BUSINESS NEWS
Movers and shakers
Page 8
Beth Savil & Emily Smith
Fantastic Media STRATEGIC marketing agency Fantastic Media has appointed graduate Beth Savill to the team and promoted Emily Smith to account manager. The Birstall-based agency has a track record for graduate recruitment, having provided employment for 10 promising young people over the last four years. Continued growth and contract wins have meant regular additions to the team. Ms Savill (right, top), who graduated from Leeds Metropolitan University with first class honours, will take up the role of account executive and will work with a variety of clients across the business. Ms Smith (also pictured) joined the agency more than two years ago as a graduate straight from university and is now a key member of the client services team. As account manager, she takes full responsibility for the implementation of marketing campaigns for a number of clients.
Dave Webster
Bedfords Transport
■ SQUAD PICTURE: Huddersfield Town and the club's business partners line up for a team photo at the John Smith’s Stadium
Team with winning tactics HERE’S a team picture with a difference! Huddersfield Town is fielding a squad of club partners extending to more than 50 businesses this season. And it’s a line-up boasting a wealth of regional, national and international talent! Speaking about the pho-
tocall, Town commercial director Sean Jarvis said: ““It was great to get so many of our partners down here for the occasion. “Everybody in the picture has shown fantastic dedication and commitment to Huddersfield Town and we wanted to do this to show them our appreciation
as we go into our first season in the Championship. “We pride ourselves on thinking differently at the club, so conducting these sorts of events for our partners are the norm and they’ll be plenty more events during the season. “Along with the Huddersfield
Coffee, cake and business
A BIRSTALL-based haulage firm has made a senior appointment. Dave Webster first joined Bedfords Transport as a casual driver and moved up through the ranks to become a transport manager, general manager and now group operations director. He will have responsibility for the smooth running of Bedfords’ main depot and also overall responsibility for subsidiary company LinQ Alliance. Mr Webster will continue his relationship with key contacts in the Bedfords portfolio and will also now be heavily involved in promoting LinQ’s new partnership pledge. Bedfords Transport is a major shareholder and founder member of the PalletForce network and offers nationwide distribution for single pallets to double deck articulated vehicle loads. The company has more than 130 employees.
Roy Oxley
■ STUDENT BODY: Members of the latest intake of apprentices at KITS in Brighouse
Waxman
Engineering careers
A TRAINING centre focusing on renewable energy skills has made a key appointment. Elland-based Waxman Training Academy has appointed of Roy Oxley (pictured) to head the academy, which is recognised as an Approved Institute of Domestic Heating and Environmental Engineers’ training centre. Mr Oxley has a career spanning 30 years working with some of the world’s most recognisable brands in training and installation. He is an MCS auditor for benchmark certification and NICEIC – the electrical contracting industries independent voluntary body for electrical installation. Mr Oxley is also a past president and fellow of the Institute of Domestic Heating and Environmental Engineers.
Enterprise Academy and our other commercial networks, it represents the core of our powerful ‘Business Hub’ here at thefFootball club – one which continues to grow at a rapid rate and one which will further develop for the foreseeable future.”
ALMOST 100 school leavers got their first taste of the engineering industry as they started an intense foundation training programme at Kirkdale Industrial Training Services Ltd in Brighouse. The latest intake is the biggest ever achieved by the training organisation, which is based at Armytage Road Industrial Estate. Chief executive David Todhunter said: “A good proportion of the learners already have been secured in employment with local engineering and manufacturing companies as part of a continuous interview and placement process. “The very high calibre of school leavers provide employers with a wide choice of learners to commence engineering apprenticeships with bespoke skills
to meet the needs of individual employers.” A change in Government legislation requires all youngsters to be in “employed status” before starting their apprenticeship – so employers wanting to secure a budding engineering apprentice have been urged to contact KITS. The learners, specialising in occupations such as electrical, mechanical , fabrication and welding, will stay at the skills training academy for about six months after which they will leave with a range of skills and be trained to NVQ Level 2 and then move on to NVQ Level 3. KITS will hold an employer breakfast seminar on Friday, September 21.
APPRENTICE hire schemes, finding funding for business and chasing late payment were all subjects for discussion at the latest Coffee & Cake Business Network. The Huddersfield business group’s August meeting, held at Café Society, featured financial magician St John Emms, from Hitachi Capital Finance in Experts’ Corner and lively audience participation. Several business owners in the audience had themselves hired apprentices and were able to add their personal experience into the mix. There was also good advice on chasing payment from customers who failed to pay their bills on time. The group is the brainchild of Michelle Hodgson (pictured), of Key Words, who wanted to set up a regular networking event that facilitated local businesses helping each other out with a variety of issues. The first of the monthly meetings was held in April and they now attract between 25 to 35 businesses, with a different expert each time. Meanwhile, the Coffee & Cake Business Network LinkedIn group has grown to more than 200 members in just a few months. The next Coffee & Cake Business Network meeting will be from 4.30pm to 5pm on Thursday, September 20. Liz Tattersley, of Welcome to Yorkshire, will be in Experts’ Corner to advise on how businesses can work with the organisation for mutual benefit. Book in advance online at http://cakesept2012.eventbrite.co.uk