In the Headlines, Hospitality Newsletter, Spring 2016

In the Headlines Hospitality Newsletter, Spring 2016

Gratuities, Tips and Service Charge: Is VAT, Tax and NIC Payable?

Hospitality and the Living Wage

Tax Efficient Ways to Extract Cash from Your Business

It is important you know what tips are considered taxable and subject to NICs.

The government has announced plans to increase the NMW to ÂŁ9.35 by 2020.

On 6 April 2016 the dividend tax credit was replaced by a ÂŁ5,000 taxfree dividend allowance.

Page 4

Page 8

Page 14

Contents

PP

2

Welcome and Partners

3

Special Feature Gratuities, Tips and Service Charge: Is VAT, Tax and NIC Payable?

4

The Abolition of Dispensations

5

Is Outsourcing Right for Your Business?

6

Employee Spotlight

7

Special Feature Hospitality and the Living Wage: How will the New Changes Affect the Sector?

8

Budget 2016 Update

10

Annual Charity Golf Day 2016

11

Cloud Accounting: Why You Must Convert From Traditional Software

12

Top Ten Tax Tips: Hospitality, Restaurants and Pubs

13

Partners Perspective Tax Efficient Ways to Extract Cash from Your Business

14

Raffingers Foundation: Chartered Accountants Announce Supporting Charities

15

www.raffingers.co.uk

Welcome to our SPRING Newsletter We are excited to welcome you to the very first edition of our Hospitality Quarterly Newsletter. In these newsletters, we aim to bring you bespoke hospitality content and keep you up-to-date with the most relevant and timely sector news.

The government has brought out several legislative changes this year that will heavily impact the sector, which is why in this edition of the newsletter, we discuss the latest updates from the Budget 2016 and how the new changes are set to affect the Sector.

Raffingers Partners Gary Inglis Managing Partner gary@raffingers.co.uk

Andrew Coney Partner andrew@raffingers.co.uk

Furthermore, we address whether Outsourcing is Right for Your Business, look at the Benefits of Using Cloud Accounting over Traditional Software and provide our Top Ten Tips for the Hospitality sector, Restaurants and Pubs.

Lee Manning Partner lee@raffingers.co.uk

Finally, we are excited to announce the launch of Raffingers Foundation, which has been set up to raise money for Ovarian Cancer Action and Pancreatic Cancer Research Fund. More information about this and our upcoming events can be found on page 15.

Adam Moody Partner adam@raffingers.co.uk

If you would like to be featured in our next edition, or have any suggestions for topics that you would like to see discussed, please get in touch.

Suda Ratnam Partner suda@raffingers.co.uk

The Partners at Raffingers Barry Soraff Partner barry@raffingers.co.uk

Paul Dell Partner paul@raffingers.co.uk

Annual Charity Golf Day 2016 - Page 11

Gratuities, Tips and Service Charge: Is VAT, Tax and NIC Payable?

SPECIAL FEATURE

The custom of tipping is so established in the hospitality sector that tips now contribute significantly to an employee’s income. However, despite the long standing tradition of tipping, many businesses are still unaware of the tax treatment applied to different types of gratuities and tips. With more businesses now being faced with penalties for failing to comply, it is important you know what tips are considered taxable and subject to National Insurance Contributions (NICs).

The way tips are accounted for depends on how they are received and who they are given to. The most common forms of tips are: • Service Charge – This is either mandatory or discretionary and is applied to the final bill or included as part of the menu. It is based on a percentage of the bill and is paid directly to the employer. The employer then distributes the charge to their employees as a not-tip wage, although some employers may keep a portion of the service charge • Voluntary Tips and Gratuities – Perhaps the most popular type of tip. This is where a direct cash payment is made to an employee. This can either be given directly to an employee or paid into a collection that is then shared between all employees • Cover Charge - It is becoming more popular for some restaurants to charge a fixed fee per customer, which is usually mandatory. This payment is often paid to the company at time of booking or as part of the final bill The majority of businesses in the hospitality sector benefit from at least one of the above. Therefore, it is important to recognise that VAT, tax and sometimes NIC may be applicable on the gratuity you receive.

VAT You must pay VAT on tips you receive if payment is not freely given. Therefore, service and cover charges should have VAT applied. Exceptions of where VAT is not applicable include: • Bill Receipt: In the case that an individual freely pays more than what has been stated on the bill,

4

www.raffingers.co.uk

VAT is not applicable • Discretionary Service Charge: As the service charge is not mandatory and was freely given, VAT is not chargeable • Payment made by Debit, Credit and Cheque: payments made via credit or cheque should always be at the consumer’s discretion

Income Tax Tax is often payable on most forms of income, including tips. However, there are exemptions - where the individual receives payment directly from a customer and there is no employer involvement, then income tax is not applicable. However, the employee should declare the tips they receive on their self-assessment tax return.

Income tax is only payable where an employer has involvement in the distribution of the gratuity. In this instance, all tips are treated in the same way as wages and are subject to PAYE. (There are exemptions for this, which are addressed further on).

National Insurance Contribution Although National Insurance Contributions (NICs) are uncommon on tips, there are cases where it is applicable. For a tip to be exempt from NIC: • A genuine intent of gratitude must be made

• The employer must not have paid the tip (directly or indirectly) to its employees • The employer must not have been involved in deciding the amount of the tip or in the distribution or allocation • If all of the above criteria are not met then NIC must be paid on the tip or gratuity.

Tronc and Troncmaster Troncs are an effective way of distributing tips in the hospitality sector. However, it is important to understand that using a tronc or having a troncmaster means different rules are applied to the tip given. A tronc allows for the distribution of tips amongst all members of staff. The individual who looks after this is known as a troncmaster. HMRC must be alerted as to who the troncmaster is so that they can set up a PAYE scheme for the tronc. In the case where there is a tronc master, they are held directly responsible and accountable for paying the correct amount of NIC and income tax.

In these circumstances the following rules apply: How money is divided

What to pay

The employer decides how the tronc money is divided The troncmaster decides how the money is divided Someone else, who is not acting for the employer, decides how the payments are distributed

The employer pays PAYE tax and NICs Troncmaster pays PAYE tax - no NICs are due Troncmaster pays PAYE tax - no NICs are due

For further information, please contact: Adam Moody 020 8418 2683 adam@raffingers.co.uk

The Abolition of Dispensations If you pay your employees expenses and use dispensations to short cut the process, please take note that since 6 April 2016 a new process has come into effect.

Since 6 April 2016, tax-allowable expenses have not been taxable at all, which means where an employee is entitled to tax relief on their expenses you are no longer obliged to agree a dispensation with HMRC or report these expenses on form P11D. The risk with this new process is that you will now be responsible for applying the correct tax treatment to the expenses you pay and you will need to keep records of all payments. It is therefore important that you are aware that: • HMRC can revoke and review dispensations for up to four years following the end of the tax year. Therefore, do not throw your existing dispensations away.

• If you have a dispensation with bespoke rates for expenses, such as subsistence and overnight stays, and you did not re-apply to HMRC for approval of them before 6 April 2016 the rates will no longer be valid, and the amounts will fall outside the new rules and be subject to Tax and NIC. • Under the new legislation you must have strong processes in place to ensure that you are compliant and that payments or reimbursements are only made in the right circumstances, with the correct tax treatment applied and record of the payment kept.

The removal of dispensations will save you time.

However, we must stress that you need to make sure you have good processes in place when paying expenses to ensure you do not face any repercussions further down the line. For further information or for help with your payroll, please contact Suda Ratnam at suda@raffingers.co.uk.

Your Business Our Passion

5

Is Outsourcing Right for Your Business?

Outsourcing is not just a strategic option for large Price Stability international corporations, small and medium By signing a contract to outsource, you will be able to sized firms can benefit too from the efficiency, lock the supplier in to a pricing agreement. This gives functionality and cost savings. the business certainty in terms of costs. As a result, the Outsourcing simply means “contracting out” various business will be able to budget operating expenses and functions of your business. A common misconception capital purchases more accurately, while reducing the is that outsourcing is always done overseas. Moving likelihood of unforeseen costs. your IT helpdesk to India can save a lot of money, but More Time to Focus on Core Business Activities there are many providers in the UK too that can provide an IT helpdesk that is cheaper than having an in-house If your firm is to be successful and profitable, the support function. management team needs to spend time planning and directing the company’s business strategy and not Cost Savings wasting time worrying about managing administration, By outsourcing functions that were previously payroll, IT or HR. Outsourcing these functions allows performed in-house, businesses can reduce their the business to focus its management resources on employee levels and related costs, such as recruitment, driving the business forward. salaries and benefits. By outsourcing a capital intensive Outsourcing is not for Everyone function, you can also reduce the costs of equipment obsolescence and depreciation.

Some might argue that outsourcing creates loss of control, less flexibility, questionable savings and the Quality of Service risk of over dependence on external vendors. Signing Because your firm is the outsourcer’s customer, they up to and implementing an outsourcing arrangement will want to keep you happy. You can therefore benefit takes considerable management time. Finding and from a more “can-do” approach, which may not always selecting the right outsourcing company can take be what you get from an in-house team. months. Outsourcing companies need to be given overall direction and guidelines in terms of what needs State-of-the-art Technology to be done, and therefore, some level of supervision by Outsourcers have to spend time and money on the management will ultimately be needed. It is important most up-to-date equipment and on employee training to be careful when deciding what business functions to remain competitive. By outsourcing certain areas to outsource and to whom. The management team like website hosting, virtual desktops or email, you are needs to be clear in terms of its expectations and the ensuring that your firm will always have access to the cost savings must be attractive and worthwhile for the latest technology platforms. Taking IT as an example, an business. outsourcer is likely to have more up to date technology such as the latest servers and software.

6

www.raffingers.co.uk

Employee Spotlight In this slot we introduce you to a valued member of our team, allowing you to put a face to a name. This quarter we speak to our Audit Manager, Hetal Mistry.

Name: Hetal Mistry Email: hetal@raffingers.co.uk Career history: After obtaining my economics degree from University College London and after careful thought, I decided my career would follow the path of accountancy.

After six years of experience with many different entities, including Baker Tilly, Felton Pumphrey and Grant Thornton UK, I joined Raffingers in January 2016 as an audit manager.

Interests: I am a Liverpool fan and am lucky enough to have been at the Ataturk stadium to watch the mighty reds come back from three nil down and beat AC Milan. This was in 2005 on a cold night in Istanbul and was one of the greatest nights of my life.

I also enjoy travelling. I travelled around 14 countries in Africa where I walked with lions, did the biggest bungee jump in the world and sat with Silver back Gorillas in Uganda. During my time in Africa, I taught maths at the Soft Power project for orphaned children. I also travelled to Bolivia, Peru and Brazil and was fortunate to have had the chance to complete the Inca Trail and party samba style at carnival in Rio de Janeiro.

Partners Report: Since joining in January, Hetal has been a breath of fresh air and is now responsible for overseeing our whole audit process. Not only this, but he has also taken on the responsibility of our internal audit training programme.

Hetal has fitted into the team well and has achieved a lot in such a short space of time. We now look forward to seeing Hetal develop further within our team.

Your Business Our Passion

77

Hospitality and the Living Wage: How will the New Changes Affect the Sector?

SPECIAL FEATURE

On 5 February 2016, the government publicly named and shamed 92 employers for failing to pay their employees the National Minimum Wage (NMW). With a large percentage of these companies ascending from the hospitality sector, how will the sector fair with the New Living Wage?

The introduction of ‘naming-and-shaming’ businesses

8

www.raffingers.co.uk

for failing to pay employees the NMW came into effect in 2013. As a result, the scheme has exposed over 500 companies and racked in a total of £3million in arrears, with penalties exceeding over £1.1million for those failing to comply.

Last year, the government announced further changes, which could mean more companies will be publicly shamed. The table opposite shows the current NMW.

Year

21 and Over

18 to 20

Under 18

Apprentice

2015/2016 (current rate)

£6.70

£5.30

£3.87

£3.30

2014/2015

£6.50

£5.13

£3.79

£2.73

* Current National Minimum Wage However, the government has announced plans to increase the NMW to £9.35 by 2020. To help the government achieve this, as of 1 April 2016 a new wage bracket was introduced, making it mandatory for those over the age of 25 to receive a NMW of £7.20, an increase of 50p per hour. This is known as the National Living Wage (NLW).

Failure for companies to comply with these changes may result in more ‘naming and shaming’, along with substantial penalties given out. Therefore, it is important that companies within the hospitality sector are aware of the changes and make plans to mitigate, as much as they can, any negative impact they can foresee.

MP, Nick Boles stated: ‘National Living Wage will mean a pay rise of over £900 a year for someone working full time on the minimum wage.” Therefore, it is thought that this change will reduce turnover rates and increase the productivity of workforces in the hospitality sector.

The government has announced plans to increase the NMW to £9.35 by 2020.

However, according to a study conducted by M&C Allegra, 73% of respondents believe that the NLW will have a slightly negative or significantly negative effect on the sector. The reason being is that with higher wage bills, companies will either have to accept lower profits, reduce the number of their employees or reduce bonuses. There is also a concern that we may see companies favouring those under the age of 25.

The hospitality sector will be hit the hardest by the changes and are set to see their wage bills increase by 3.4% by 2020.

Martin Couchman, Deputy Chief Executive of the British Hospitality Association stated, “Hospitality will be the biggest industry affected by this. A very substantial part of the workforce is paid the higher NMW Rate and they are the ones who will be paid the compulsory NLW. The introduction of the NLW comes at a time when everyone is hoping that sector trading will start to recover from a subdued last 12 months. The Living Wage will now place significant pressure on companies in the hospitality space and could stunt profit growth for a few years.”

For further information: Suda Ratnam 020 8418 2681 suda@raffingers.co.uk

Your Business Our Passion

9

Budget 2016 Update SPECIAL FEATURE

At what was described as a Budget for “the next generation” that would “back small business”, we have gathered all of the key points you need to know.

For the Hospitality Sector

Corporation Tax

Freezing Alcohol Duties

Corporation Tax

The government will continue their support of pubs by The Corporation Tax Rate will be reduced even further than previously announced, to 17% by 2020. The table freezing the duty rates on beer for another year. below demonstrates these changes and when they The Scotch Whisky industry and cider makers will also come into effect. benefit from the duty rates on spirits and cider being frozen this year too. Other alcohol duty rates will rise Financial Year Corporation Tax Rate with inflation.

Sugar Tax - From 2018

2015

20%

2017

19%

The exact rate of tax that will be applied to soft drinks 2018 19% is yet to be disclosed. However, it was indicated that 2019 19% the amount of tax applied will depend on the amount 2020 17% of sugar per 100ml of liquid. The fear with this change is that costs for businesses could increase. We await Loans to Participators – From April 2016 further details to see if this will be the case.

Where a participator (shareholder) has an outstanding loan with a close company, a tax charge is applied, which is added to the company’s Corporation Tax Return and paid to HMRC when the company Corporation Tax is The government will continue due. Previously, this tax charge was 25% on the lower their support of pubs by of the amount outstanding at the end of the accounting freezing the duty rates on beer period.

for another year.

Employment Tax Employment Allowance – From April 2016

However, in an attempt to prevent company directors from avoiding tax and NI charges by paying themselves through loans or advances, rather than dividends, from April 2016 this tax charge will increase to 32.5%.

Corporation Tax Losses – From April 2017

The employment allowance is a fixed deduction that Whilst there are a number of ways losses can be allows businesses to offset against class 1 national utilised for Corporation Tax purposes, often companies insurance every tax year (per business not per employee). will carry a loss forward and use it against their future profits from that source of income. The good news The summer budget announced two changes, which here is that from April 2017: are still set to come into effect this year: • Companies will be able to use the carried forward 1. The Employment Allowance will be increased losses against other income streams and other from £2,000 to £3,000 a year companies within a group (if applicable) 2. The Employment Allowance will no longer be • Where a company has profits in excess of £5 available to companies that have a director as its million, carried forward losses offset against these sole employee profits will be restricted to 50% of the profit

10

www.raffingers.co.uk

For Individuals Income Tax A typical basic rate tax payer will pay £1,000 less income tax in 2017/18 than 2010/11 thanks to the announcement of a further increase of the personal allowance. The government also announced that the higher rate threshold will rise to £45,000 by 2017.

2015-16

2016/17

2017/18

Personal Allowance

£10,600

£11,000

£11,500

Basic Rate Limit

£31,785

£32,000

£32,400

Higher Rate Threshold

£42,385

£43,000

£45,000

ISA - From April 2017 The tax free ISA limit will increase to £20,000 (currently £15,240).

Furthermore, savers that are under 40 years of age will have the opportunity to invest in a new ‘flexible lifetime ISA’ and be able to benefit from a 25% bonus paid from the government on savings up to £4,000 a year. The bonus on the savings will be paid up until the saver reaches 50.

The intention is to help savers either buy their first property and/or save for retirement.

Savers can choose to hold a ‘regular ISA’ and/or the ‘flexible ISA’. Transfers to the flexible ISA can be made where savers have a help to buy ISA already.

For further information, please contact: Andrew Coney 020 8418 2710 andrew@raffingers.co.uk

Annual Charity Golf Day 2016 Date: Thursday 30 June 2016 Venue: Toot Hill Golf Club Time: 10am arrival, 11:00am first tee off We are pleased to announce that we will be hosting our tenth Annual Charity Golf Day this year on Thursday 30 June.

Not only is this our tenth golf day, but it will also be the first golf day we have held in aid of our brand new charity, Raffingers Foundation, see page 15 for further details) This event is an excellent opportunity for us to bring together colleagues, clients and friends of the firm for this great cause.

For an entry fee of £75 per person, you can celebrate our tenth Charity Golf Day with us. This price includes an 18 hole course, customary welcome breakfast, awards presentation and a three course dinner, as well as a few surprises along the way.

Individual and team places are available.

To secure your place at our golf day, please contact: Danniella Cross 020 8418 2709 danniella@raffingers.co.uk

Your Business Our Passion

11

Cloud Accounting: Why You Must Convert From Traditional Software

Cloud accounting has taken the business world by storm, but why is the software so popular amongst small to medium sized businesses? With four years of experience using cloud accounting, I explore the features that make the software so appealing to accountants and businesses alike.

Flexibility Ultimately, the main advantage of cloud accounting software is the flexibility. You are no longer tied to a computer and are able to run your business from anywhere in the world and from any device. Through having access to up-to-date financial figures wherever you are, you are able to regain control of your business, keep on top of your finances and not be caught out by any hidden surprises. Unlike traditional accountancy software, you have the freedom to access your accounts at any time, not once a year when your year-end has been processed. I have witnessed firsthand how beneficial this is to businesses – improving their efficiency and helping them make the most of opportunities.

Bank Feeds Automatic bank feeds are the key behind cloud accounting. Through linking your business account up with your cloud accounting software you can reconcile invoices and gain an accurate understanding of your cash flow. This feature allows you to access your finances in real time.

12

www.raffingers.co.uk

Multiple Accesses This is a great benefit that allows for collaboration. You can decide who has access to your software and what they can see. Through multiple accesses you can also share your data with your accountant. This is a great feature for us as it allows us to spot any discrepancies immediately, provide accurate forecasts and, ultimately, more relevant advice as we can see instantly what is working, what is not working and what can be done to help you grow. Through this feature you can allow internal employees to access specific areas of the system that you would like them to work on too.

Add-on Software Whatever your business needs, there is no doubt that there will be an add-on for it. With hundreds of cloud accounting integrated applications available, you can easily find add-ons best suited to meeting your businesses objectives. A few of my favourite add-ons include CrunchBoards, Receipt Bank and Chaser: • CrunchBoards – CrunchBoards work alongside Xero, providing users with complete clarity of their data. What makes CrunchBoards so valuable is that every transaction from the beginning of time can be imported, which means absolutely any KPI can be looked at in real-time for operational, retrospective or future analysis. And, if anything is amiss you will be the first to know

Top Ten Tax Tips: Hospitality, Restaurants and Pubs To ensure those in the hospitality sector are operating in the most tax efficient way, here are our Top Ten Tips: We are offering 3 months free of Xero when you sign up today. Contact amy@raffingers.co.uk for more information.

• Receipt Bank – Receipt Bank extracts the key information from your bills, receipts and invoices, removing the need for manual data entry. Receipt Bank can then publish the data to Xero or it can be downloaded as a spreadsheet or used to create expense reports.

• Chaser - Chaser allows you to reduce your debtor days and gain a financial boost through automating the process you use to chase invoices.

Through integrating with Xero you can set the chasers you want your customers to receive at different points until the invoice is paid.

Easy Invoicing Cloud accounting software is also synonymous with quick and easy billing. You can produce invoices quickly on cloud software, ultimately promoting better and improved cashflow.

You can find out more about the benefits of using cloud accounting software such as Xero on our website. We are offering 3 months free when you sign up today.

To find out more about, please contact: Amy Townsend 020 8418 2690 amy@raffingers.co.uk

1

Explore pensions to cut the tax bill on wages and salaries - “Salary sacrifice” schemes make it possible for you to save up to 25.8% in NI contributions on the pension contributions you make.

2

Review Your Company Car and Petrol Policy - The last few years have seen dramatic changes to the way company cars are taxed.

3

Understand how to Calculate the Tax Value of Benefits in Kind - If any of the calculations are wrong, a fine of up to £3,000 can be charged!

4

Selling Your Business? Minimise Your Tax Bills! - Do you want the Taxman to take up to 57% of everything your business is worth? With proper planning you will be able to keep more of your money in your pocket.

5

Do You Have a Company Pension Scheme? - It is now mandatory for all businesses to enrol eligible employers onto a workforce pension scheme.

6

Encourage Employees to use Their Own Cars - If employees receive less travel expenses than the business limit, they can claim the difference as a deduction against their wages and reduce their tax bill.

7

Maximise Your Capital Allowance - A detailed review of the business property can often result in significant tax savings and, in some cases, significant tax refunds.

8

Correctly Differentiate Workers and Freelancers - If you use contract workers or freelancers, make sure that the taxman has no grounds to treat them as employees.

9

Use Loses to Reduce Current Tax Bills - If you are self-employed it may be possible to set off the losses against your other income, or even against income from the previous year.

10

Ensure That you are Taking Money out of the Business in the Most Tax Efficient Way - With the latest changes to dividends, it is important to review tax efficient strategies to withdraw money.

Your Business Our Passion

13

Partner’s Perspective

Tax Efficient Ways to Extract Cash from Your Business In the last few weeks I have been inundated with enquiries as the changes being made to the taxation of dividends hits home for many business owners.

if you were to swap your £80,000 dividend for an equivalent salary you would receive a net of £62,925.

If you continue to withdraw this as a dividend, your net would be £71,013.

Just to remind you of the changes being implemented.

On 6 April 2016 the dividend tax credit was replaced by a £5,000 tax-free dividend allowance. Sums above this will now be taxed according to the following rates:

However, there are a few ways in which you can potentially mitigate your tax liability. These involve altering and diverting the way in which you withdraw cash from your company. Some potential options are:

Basic Rate

2016/17

2015/16

7.5%

0%

• Increase your pension contributions and benefit from the 25% tax free withdrawal if you are over 55 years old • Bring in family members to utilise their basic rate

Higher Rate

32.5%

25%

Additional Rate

38.1%

30.6%

• Create trusts to pay care home, university or school fees and reduce the higher rate tax on the dividend • Add interest to a shareholder loan

If we look rationally, in the majority of circumstances business owners are still better off taking dividends rather than a full salary, as the tax is still significantly lower. However, there are ways in which you can mitigate the amount of tax you pay.

Since 6 April 2016 Since 6 April 2016, in order to ensure you have a tax efficient remuneration structure in place it is going to be even more important that you review the way in which you withdraw your funds. However, as mentioned before, for the majority of people it is still going to be more take efficient to take dividends. For example,

14

www.raffingers.co.uk

Every company is different. Therefore, it is impossible for me to give one solution that suits all, all I can do is recommend that you review the way in which you withdraw money from your business, run the numbers and see if you can benefit from one of the above options.

For further information: Lee Manning 020 8418 2662 lee@raffingers.co.uk

Raffingers Foundation: Chartered Accountants Announce Supporting Charities We are excited to announce the launch of ‘Raffingers Foundation’, which will support two charities: Ovarian Cancer Action and Pancreatic Cancer Research Fund.

raffingers

foundation

Raffingers Foundation has been formed in memory of Jason Kew, a dear husband and friend, who sadly lost his battle against pancreatic cancer, as well as to honour those family members of the firm who have been lost to ovarian cancer.

For these reason, funds raised by the Foundation will go towards scientific research and specialist staff and equipment, helping to put a stop to the number of women and men suffering and dying from these terrible diseases. The two charities the funds will be split between are: Ovarian Cancer Action – A charity that strives to stop women dying from ovarian cancer by funding worldclass scientific research leading to innovative treatment and progressive solutions, and Pancreatic Cancer Research Fund (PCRF), a national charity dedicated exclusively to supporting research to improve diagnosis and treatment of pancreatic cancer.

Earlier this year, the charity launched a national tissue bank for pancreatic cancer research, the first of its kind in the world.

Founder and CEO of PCRF, Maggie Banks stated: “We’re honoured to have been chosen and immensely grateful to Raffingers for supporting us in tackling this complex and aggressive cancer. The growing portfolio of projects we fund covers the very best, most innovative research across the UK and Ireland and we’re determined to find new ways of helping people to beat this disease.”

Chief Executive of Ovarian Action, Katherine Taylor said, ‘Ovarian Cancer Action is delighted to have been chosen as a beneficiary charity of Raffingers Foundation.

A woman in the UK dies of ovarian cancer every 2 hours but with the help of supporters like Raffingers, and their employees, we can fund pioneering research at the Ovarian Cancer Action Research Centre which will give women the best chances of survival. We very much look forward to working with The Raffingers Foundation in the near future.’

Chair of Raffingers Foundation, Lauren Aston stated, “Raffingers has been supporting charities for many years now as our way of giving back to the community and it is great that we are able to take our work further.

Upcoming Events Nuclear Races Date: 15 May 2016 Eight members of the Raffingers team will be tackling a 12km, muddy, obstacle loaded farmland to raise awareness and money for Ovarian and Pancreatic cancer.

Annual Charity Golf Day Date: 30 June 2016 Venue: Toot Hill Golf Club Not only will this be our tenth Charity Golf day, but it will be the first Golf Day we hold to raise money for The Raffingers Foundation.

Back to School - Football and Netball tournament Date: 7 July 2016 Venue: West Hatch School Submit a seven a-side team to take part in our football and netball tournament in July. Contact danniella@raffingers.co.uk for further information.

Ovarian Cancer Action and PCRF are two charities very close to our hearts and we are extremely excited to be given the opportunity to support both charities in the work and research they do.”

More information on Raffingers Foundation can be found at www.raffingers.co.uk/community.

Your Business Our Passion

15

Head Office 19-20 Bourne Court, Southend Road, Woodford Green, Essex, IG8 8HD Tel: 020 8551 7200 Fax: 020 8551 0912 Email: info@raffingers.co.uk London Office 3rd Floor, 5-10 Bury Street, London, EC3A 5AT Tel: 020 7167 6880 www.raffingers.co.uk facebook.com/Raffingers

16

@RaffHospitality

www.raffingers.co.uk

linkedin.com/company/raffingers