BATHWORKS Local businessess making the headlines, including an audience with the National Trust

BATHWORKS THIS ISSUE >>INSPECS GOES PUBLIC (95) >>FUNDING BOOST FOR FACE (96) >>ANDY SEMPLE OF THE NATIONAL TRUST (98) It’s the city’s business

GOING PUBLIC

Inspecs is to float on AIM, with a market capitalisation of £138 million. The Bath-based designer, manufacturer and distributor of eyewear frames to global chains raised £23.5 million from the placing, which, along with new bank facilities, existing cash facilities and future operational cash flows, will be used to grow the business. Approximately 52.2 per cent of Ordinary Shares will be held in public hands, with CEO Robin Totterman holding around 26.6 per cent.

“We are delighted to have received a positive reception from a high quality set of investors, all of whom recognise the strong track record, differentiated proposition and competitive strengths of the business, being one of only a few companies providing a one-stop-shop to global retail chains,” says CEO Robin Totterman. “This IPO will enable the business to fuel its growth ambitions, both organically and through acquisitions, as we leverage our key strengths and competitive advantages to continue to take market share and drive shareholder value.” For more: www.inspecs.com

INSPECS CEO Robin Totterman

You can see why they won...

Taking home the gold

Lucknam Park left the South West Tourism Excellence Awards with three awards and a commendation. The luxury hotel near Chippenham nabbed two gold awards, one for Large Hotel of the Year and another for Spa & Wellbeing Experience of the Year, a bronze for Wedding Venue of the Year, and a further commendation for The Brasserie in the Restaurant/ Bistro of the Year category. Silmiya Hendricks, commercial director, and Beth Tremelling, marketing and PR executive at the hotel, went to collect the award at the grand ceremony at Exeter Cathedral. “Our team works incredibly hard to ensure that we are always delivering the best service, and these awards are credit to that hard work,” Silmiya says.

For more: www.lucknampark.co.uk

THE BOOST UP

The Bath & West Community Energy (BWCE) Fund has awarded £28,370 to climate crisis projects in Bath and the surrounding area. Eight diff erent organisations benefi tted from the money, which comes from the BWCE’s surplus income and is administered by the Quartet Community Foundation.

One of the benefi ciaries of the grant money, Family Action on Climate Emergency (FACE) is raising awareness in the local community. “Concern about climate change is growing rapidly, and families want to know what they can do about it,” says Pauline Harris of FACE. “We’re building a local network of action groups, based around neighbourhoods, schools and other communities, so people of all ages and backgrounds can take collective action

to tackle the urgent tasks of reducing carbon emissions and protecting nature. This grant will mean we can spread the word even further, and provide some great resources to get new groups off the ground.” For more: www.bwce.coop

Lots of smiles at FACE

ALL ABOARD THE BOULES TRAIN

The Bath Boules are about to turn 30 years old – and there’s never been a better time for businesses to jump on board. By becoming a Big or Little Boules sponsor, you can have a fun day out with the team – and do good for Bath charities. Team tickets for the Bath Boules, headline sponsored by Brewin Dolphin, are set to be released at midday on 17 March, and in years gone by have sold out within minutes. If you’re keen, mark the date in your diaries and set an alarm – what’ve you got tou-louse?

With Big Boules come big benefi ts. Each Big Boules sponsor receives close association with the event, including one guaranteed team entry on their day of choice, branding at the event and inclusion in all Boules marketing.

This summer’s festivities will take place 12-14 June and are set to be bigger and boule-sier than ever before. Just some of the fun this year will include Le Bunk-Off Friday, three days of Boules tournaments, the legendary Friday night party and a Crumbs street food market. Contact Nell to hear more about all sponsor opportunities: nell.robins@ mediaclash.co.uk For more: www.bathboules.com

There’s nothing like a bit of healthy competition

Meet the new characters on the Bath business scene

SPONSORED BY

Sarah Dedakis

www.mooreswit.co.uk 01225 486100

BATH LEASEHOLD MANAGEMENT Sarah Dedakis started Bath Leasehold Management after some time out of the property world. Finding herself missing the industry, she leapt back in with a passion.

So, Sarah, what do you guys actually do? We provide full block management services, including service charge accounting, day to day maintenance, longterm project planning and many other services relating to running a compliant management company. There is a misconception that dealing with block management is simply arranging a few repairs here and there, but it is actually a complex business, as there are the responsibilities of company law to adhere to along with the ever-growing leasehold statutory regulations and legislation which must be complied with.

Why are you different? We are one of the very few leasehold management specialists in the area focusing solely on block management, and not incorporating other services such as lettings or sales. We avoid complacency and our clients are very much at the forefront of our service in terms of communication and proactivity, which is probably the two main areas that create disharmony between client and agent.

We want to ensure that our freeholder and leaseholder clients are our absolute priority whilst providing a personable service, which we will tailor to the requirements of the client and the building. We are passionate about property management and, genuinely, will treat your management as if it were our own!

What have some of the challenges been? Surprisingly, the industry is fairly unregulated, so even though we already have over 20 years experience, it is imperative to us that we provide absolute peace of mind to our clients, so we continuously attend courses and seminars to gain further qualifi cations. This often means loads of home study after a day in the offi ce, which is a challenge… but we wouldn’t have it any other way! For more: www.bathleaseholdmanagement.co.uk

BATH SPORTS NEWS Where Bath gets a sweat on

Bringing up the next generation of rugby enthusiasts

THE INSPIRATION GAME

Stars of Bath Rugby paid a visit to St John’s Catholic Primary School on Oldfi eld Lane to promote the new cross curriculum educational app, Premiership Rugby Championships. Developed by teachers for teachers, it provides interactive and themed lesson plans to use in the classroom and outside, covering a broad range of subjects including health, numeracy and personal development. The hope is, the app will inspire kids to be more active – as well as develop vital life skills. Bath Rugby’s Henry Thomas, Ruaridh McConnochie and Ross Batty went to the school to support the app, where they spent time playing games of tag rugby with the youngsters, run by Bath community coach Garin Vivian. “Bath is a community club and to be able to be bring it closer to the fans is great,” says Ruaridh. “To see the kids having a great time is rewarding. Bringing them into the club and our rugby community will hopefully give them a lifelong love of the game – and of the Blue, Black and White.” For more: www.premiershiprugby.com

BUSINESS MATTERS DIARY

MOVERS AND SHAKERS ETC

Steve Watson

From networking breakfasts to invaluable evening courses, make a note of the events and classes that will help your business fl ourish

11 MARCH BATH BUSINESS EXPO A one-day event bringing together the local business community, the Biz Expo is fi lled with networking and learning opportunities with leading experts from a range of industries. 10am-3.45pm; The Assembly Rooms; www.bathexpo.co.uk

12 MARCH LOAKE BATH BUSINESS CLUB A breakfast networking event with The Brogue Trader, this is another great opportunity to build stronger links in the city’s business community. There’ll be a business card draw with the chance to win a Loake shoe valet cleaning box worth £122.50 – so make sure to bring those cards with you. 8-9.30am; The Brogue Trader/Loake Shoemakers; www.eventbrite.co.uk

23 MARCH BATH LIFE BUSINESS CLUB This time the speakers at our regular networking lunch will be the two successful founders of Epoch/Brewin Dolphin and Prezola. In this talk, Big Deal: 1.0, they’ll share the inside story of selling a company. 12-2.30pm; The Royal Crescent Hotel & Spa; bathlifebusinessclub.com

FRESH THINKING Wiltshire-based law fi rm Awdry Baily & Douglas (ABD) has appointed Steve Watson as new head of marketing. With over a decade’s worth of pro services marketing under his belt, Steve will bring his excellent brand building, campaign planning and creative skills to the company. He’ll also work on ABD’s management committee.

“This is a very exciting time to be part of a law fi rm that understands the need to be diff erent and genuinely puts clients’ needs at the heart of everything they do,” says Steve. “Since my arrival everyone has been so friendly and welcoming; it really is a very positive, proactive place to work and I’m proud to be part of it.” www.awdrys.co.uk

Mary Wickenden and Polly Andrews

BEST FEET FORWARD Bath Abbey has added two to its staff . Polly Andrews has joined as learning offi cer, while Mary Wickenden has stepped into the role as volunteers offi cer. They were both hired as part of the Abbey’s wider Footprint goals to engage more people with this local institution.

“We’re delighted to have Mary and Polly join the team,” says the Revd Canon Guy Bridgewater, rector of Bath Abbey. “Although there is major building work taking place in the Abbey, at its heart, the Footprint project is all about people. Conservation for us isn’t just about bricks and mortar. In the new areas and spaces that we’re building, we’re aiming to create exciting new opportunities for learning, volunteering, group activities, and discovery of the living Christian heritage of Bath Abbey.” www.bathabbey.org

Alittle over a decade ago, after a long and successful career in media, Andy started to feel like he needed a change. The one time publisher of Maxim magazine – among many other titles – he felt that he wanted something a bit more meaningful, the sort of job he could talk about with his kids. Enter the National Trust, where he has worked for 10 years, the last three of which as associate director, looking after the Trust’s operations in Somerset and Gloucestershire.

‘THE COUNTRY HOUSE PEOPLE’ “It was never the plan, to fall into the National Trust,” Andy says. “It just sort of happened.”

He woke up a 40-something in a media industry largely built around youth – and constantly subject to restructuring – and felt like it was time for a change. To him, that meant two options: starting his own business, or moving onto a new career path. He chose the latter, and joined the Trust, where he’s been ever since.

Going in, Andy says, he was defi nitely expecting an offi ce fi lled with a tweed clad team, brown leather chairs and perhaps the odd Labrador reclining by an open fi re. But that isn’t really what he got. Yes, the Swindon-based offi ce does have the tweed-and-cigars contingent, more on the conservation side of things, but it turned out to be equal parts people like himself who had come up in another industry and arrived at the National Trust in search of a new direction.

This perception of the team’s makeup was only the fi rst of many misconceptions Andy faced – and continues to deal with today.

What comes to mind, he asked Business Club attendees, when you think of the National Trust? The answers came back almost unanimous: country houses – but they’re actually only a portion of the Trust’s portfolio.

“It’s not a bad thing, being the country house people, but I think the journey the Trust is on is probably to get people to recognise the wider role it plays,” Andy says. “Undeniably country houses are the fi nancial engine, because most people love visiting them, their estates and gardens.”

But in addition to the famed country houses, the Trust also owns 250,000 hectares of land – a lot of it rented out to tenant farmers – and another 780 miles of coastline.

FOREVER, FOR EVERYONE The exact role of the Trust has been a point of friction in recent years, with plenty of criticism thrown its way for the lack of a fi rm stance on modern issues like the climate emergency – a term they are still shy of using – as well as tensions over how it is perceived, which is either, Andy says, as “old ‘fuddy duddy’ right wing, land owning aristocracy, or a hotbed of socialism, left wing thinking and open toed sandals.” The truth, you might think unsurprisingly, lies somewhere between the two.

Still, isn’t it odd that one of the

Business chat over lunch – our idea of a good time Andy Semple, a long way from Maxim

BATH LIFE BUSINESS CLUB

ANDY SEMPLE, ASSOCIATE DIRECTOR OF THE NATIONAL TRUST

What does a decade at the National Trust look like? Andy joined the Bath Life Business club to talk tweed, climate emergency, controversies – and the fate of The Assembly Rooms

biggest landholders in the country isn’t a more prominent voice in the climate emergency debate? Well, yes. But, Andy says, that is starting to change.

“Arguably we were late to the climate change/climate emergency conversation. In fact we had a national conference about two years ago where its absence in our strategy was raised,” he says. “The director general said it’s not our role – but, to be fair to the organisation, it listens to itself and we’ve since realised that it probably is our role. We have declared that the organisation itself is going to be carbon neutral in 10 years, and we’re putting our shoulder to the wheel against the crisis we face and the urgency we face now.”

“WE WANT YOU TO EXPERIENCE WHAT IT MIGHT HAVE BEEN LIKE IN 1775 IN BATH”

In many ways, tensions about the Trust’s role and how it should function are built into its fabric. Founded on the principles of conservation and access, its purposes are defi nitionally at odds.

“Those aims are hard to hold side by side with each other – conserving something and giving mass access to it,” Andy says. “Even more so in terms of visits that we get in a year organisationally – it’s about 28 million visits to our places, and that fi gure includes pay-to-enter places and other NT owned land, so that’s a huge impact on an asset you’re trying to conserve. It’s diffi cult – but then it was always thus.”

It might be diffi cult, but the

Trust’s unifying theme is ‘forever, for everyone’, so regardless of tensions, the organisation will plough on.

THE ELEPHANT IN THE ROOM Not a lot of people in Bath actually know that The Assembly Rooms, which has been controlled by B&NES for as long as most of us can remember, is actually owned by the National Trust. So when the news broke last year that they would be taking back control of the building in 2023 – leaving the Fashion Museum in need of a new home and potentially displacing a range of civic and private events (including a certain media company’s awards ceremony; yes, we do mean the Bath Life Awards) that are held in the building, response was mixed, to say the least. Plans remain vague – in fairness, they do have three more years to get them together – but the basic story is that once it’s back under NT management, The Assembly Rooms will be transformed into an immersive version of Georgian life.

“We want you to experience what it might have been like in 1775 in Bath,” Andy says, “whether that’s getting involved in the dance, or the smell and the feel of the gambling room, or the click and clatter of sedan chairs.” It’s a business decision too, obviously. For a touristy city with one of the highest National Trust memberships in the country, our most local pay-to-enter sites – Dyrham Park and Prior Park – aren’t exactly raking it in, and a city centre site (of which the Trust doesn’t have a lot) could plug a gap. It’ll be good for the city, too. There are plans in place to link up with other museums to share the

It’s not all business; there are laughs along the way

tourism traffi c around – with The Assembly Rooms functioning as a central hub.

“We’re defi nitely working closely with the museum sector to spread out tourists to get the full panoply of what’s on off er here,” Andy says. “Inevitably it’ll get more foot fall up that end of the city as well, which aside from the museums, the traders nearby always need.”

But it’s still called The Assembly Rooms, right? Shouldn’t there be some assembly involved?

Andy says they’re open to it. “There could be a role, because there are big civic functions that happen there. We are aware of the graduation ceremonies, Mozartfest and Bath Festivals – we want to tread very carefully through that and we know there will be multiple opinions. This is a personal view, but I don’t want us to end up compromising everything to keep everyone happy and end up with a relatively successful tourist attraction, which is a relatively successful fl exible space where you can do events. We’ll probably just screw it up if we try and be everything to everyone.”

Interesting times for The Assembly Rooms, then – and, it seems, for the National Trust too. For more, www.nationaltrust.org.uk

SPONSORED BY

The Bath Life Business Club is a unique lunchtime event with a high calibre speaker. Attendees come from all sectors of Bath’s business life – from the coolest of the indies to the largest of the corporates. For information on the latest events, please go to: www. bathifebusinessclub.com

Help us help your community

We will donate 1% of our fee from your sale to a local primary school of choice.

Heather’s Pet Services does it all. Whether you want your dog walked, washed, driven around or trained, she and the team can take care of it. They’ll look after your pet while you’re on holiday too. About time, we figured, to catch up with director and behaviourist Heather to learn more about her dream role Heather Thomas ONE TO WATCH

Hey, Heather. Tell us more about what Heather’s Pet Services does We provide a variety of services across Bristol and Bath. From dog visits (someone to check in on the pup while you’re at work, for example), to having your four-legged friend as a guest at your wedding, we can help.

How did you get into pet care? It sounds like the dream job! I completed a diploma in animal care when I left school, but have always loved animals; my gran had a passion for animal welfare that she passed onto me. I followed my dream of owning my own walking and boarding business in 2006, after working in a kennels in Bristol. I was the first home boarder to be licenced in Bristol and in Bath, when I moved in 2011.

What are some of the challenges? Being a dog walker or trainer is not a walk in the park, so to speak – it is always a challenge mixing multiple dogs together. I have found, as a dog professional, you become emotionally invested with the dogs and their owners, which is very much a challenge in itself. You come to love each pet as much as the owners do.

Any myths you’d like to dispel? Dog walking is not easy. It shouldn’t be thought of as an easy job or just a hobby; if you own a walking business and you are doing it properly it will take a lot of time and money to get it right. There are multiple risks, and so much more to it than just a walk in the park. Good dog walkers will have qualifications in husbandry, dog training, behaviour and welfare. They will have equipped vans that are secure and safe for your dog in transit, and should have good knowledge of equipment too.

Where are some of your favourite dog walks around Bath? One of my favourite social walks in Bath is at Alice Park, which has something for everyone and is a busy place that’s great for dogs that want to explore and are happy around people, children and other dogs. (They also do the best food!) But if you want a walk to get away from the city, we’re lucky enough to have Bathampton Downs on our doorsteps. Nestled in the woodland, it’s an escape from reality with a natural spring and a huge abundance of shrubbery.

What does your typical day look like, then? It really depends. As director, I often have to wear different hats: sometimes I am the dog walker, sometimes I am the dog trainer. Sometimes I am the boss, other times the mechanic. One thing I can guarantee is that there is always something to keep me busy!

Tell us more about the dog training service. How does that work? Are you the trainer? We offer a range of services to

help train dogs, from classes at Rosemary Lodge vets in Bath to one-to-one behavioural modification programmes. Sophie, our Bath team leader, is a dog trainer and runs all of the classes, and I have an MSc in Clinical Animal Behaviour and provide behaviour modification programmes for pets and owners that are struggling with behaviour problems like aggression, separation anxiety and noise fears. Our team are highly qualified and have to undergo intensive training when they start with us – and we also organise regular training, or CPD, so our team can grow and update their knowledge all the time.

What about the Wedding Woofers thing you do? The Wedding Woofers service is something we feel very passionate about. Our dogs are our family members too, so why should they miss out on the biggest day of our lives? We help to make your dog guesting at your wedding possible, and stress-free too. From best dog to flower girl, your four-legged friend can be with you and your guests on your big day!

Is there any advice you’d like to give to the potential dog owners out there? There is nothing more important than the bond with your dog, and there are a few golden rules I like to stick to: 1) Never punish your dog – it often result in frustration. 2) Always ensure your dog has a safe place to rest. 3) Ensure your dog has positive welfare (including biological and emotional needs). 4) Listen to your puppy – if they are not happy about something, do not force them closer to it. 5) Play. It strengthens bonds and ensures learning. 6) Train every day with your dog, even if it’s only for 10 minutes.

Finally, what are you most proud of professionally? The company’s standards are set so high, there’s no cutting corners and no cutting costs. When it comes to owners and their pets, we want them to have the best! I am proud we have provided such a high-quality service for over a decade, and we have also gained multiple awards for doing so.

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Residential property and capital gains tax (CGT)

Jacqui Bowden from Bath-based chartered accountants and tax advisers PEARSON MAY summarises the proposed new rules for CGT and how they affect anyone selling a residential property…

If you are a landlord or second home owner, it can feel like the tax rules and regulations that apply to you are constantly in fl ux. In the past few years, we’ve seen changes to mortgage interest relief, the introduction of a stamp duty surcharge, a ban on letting fees, and new rules around houses of multiple occupation. 2020 brings further changes – this time for Capital Gains Tax (CGT). These proposed rules, subject to legislation, could affect anyone selling a residential property after 5 April 2020, so it’s important to plan ahead.

30-DAY PAYMENT WINDOW After 5 April 2020, you will have just 30 days following completion to pay tax you estimate is due on the gain made from the sale of residential property. As part of this procedure an initial calculation of the gain will need to be prepared and a standalone Return submitted within the same time frame.

Currently Capital Gains are reported through the Self-Assessment Tax Return, and this means that if you sell a property between 6 April 2019 and 5 April 2020, it will be declared on your 2020 Tax Return and the tax due on the gain must be paid by 31 January 2021. Depending on

the timing of the sale the tax could be payable up to 22 months after the date of the disposal. Going forward you will have a maximum of 30 days.

CUTS IN RELIEF ON THE SALE OF YOUR HOME This change applies to properties which have been a person’s only or main residence at some point during the period of ownership but are still liable to CGT e.g. have been let out or remained empty for certain periods. Currently, the final 18 months of ownership are treated as a period of deemed occupation for the purposes of calculating ‘Private Residence Relief’ regardless of whether the person is living there or not.

“ BE WARNED THAT THESE FURTHER CHANGES COULD DRAMATICALLY IMPACT FUTURE TAX BILLS ON THE SALE OF RESIDENTIAL PROPERTY ”

However, where the date of disposal is on or after 6 April 2020, the final period of exemption will be reduced from 18 months to nine months. Lettings Relief has also historically been available where a property which qualifi es for Private Residence Relief has also been let in a period of absence. From 6 April 2020 it is expected that Lettings Relief will only be available if there is shared occupation (i.e. the owner and the tenant both live in the residence at the same time), thereby, in practical terms, effectively abolishing Lettings Relief.

These changes have yet to be legislated for and are planned for the Finance Bill 2020. The detail is subject to consultation, so may prove different to the above, but be warned that these further changes could dramatically impact future tax bills on the sale of residential property.

SOME KEY POINTS AND PLANNING TIPS • The 30-day payment and declaration apply regardless of whether you are in the SelfAssessment system or not; • Self-Assessment taxpayers will continue to report the gain on their Tax Return and pay any CGT over and above the provisional payment by the usual Self-Assessment deadlines; • The 30-day time limit is triggered by the completion date (although the exchange of contracts is still the date of sale for CGT purposes); • Returns are not required for disposals where no tax is due; • 30 days isn’t very long! Funds will need to be put in place to cover the CGT liability as soon as the sale is completed; • Remember gifts can also result in gains, but don’t produce any cash, so make sure the funds are available before the gift is completed; • If you are planning a sale then gather the information required to compute the gain sooner rather than later, so that the tight deadline may be met; • To work out the provisional CGT payable, your taxable income for the year will need to be estimated to determine how much CGT is payable at 18 per cent and how much at 28 per cent; • Other CGT disposals which are not subject to these rules (e.g. sale of shares or commercial property) may be ignored in calculating the provisional tax due (but see below re losses); • Capital losses brought forward from earlier years or made in the same year as the gains (but prior to the date of sale) can be offset if desired.

The above is for general guidance only and no action should be taken without obtaining specific advice. ■

Jacqui Bowden Bsc (Hons) ACA Pearson May Chartered Accountants & Chartered Tax Advisers Bath, Chippenham and Trowbridge

SOLD 2020

SOLD 2020

SOLD 2020

GREAT PULTENEY STREET £545,000 BATH RIVERSIDE £895,000 CIRCUS PLACE £595,000

SOLD 2020

SOLD 2020

SOLD 2020

PORTLAND PLACE £475,000 ARGYLE STREET £1,150,000 FARMBOROUGH £650,000