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Important announcements and general Business Park news will be regularly posted on this page. The very latest information will also be available in various places around the website and on facebook & twitter.
  • 04 June 2013 1:17 PM | Tracie Davey (Administrator)

    Be Cool! With G&S Energy at the Eco Technology show - free entry!

    You are especially invited to join us at our stand (no.A68) at the forthcoming Eco Technology show in the Brighton Centre on June 14th and 15th. The show will cover every single aspect of eco innovation including live demonstrations of thermography from G&S Energy on stand no. A68. Come and see just how detailed thermography can be and why substantial savings can be made once the equipment has been used as part of an energy audit on any business premises.

    To get in for free go to www.ecotechnologyshow.co.uk and register as a trade delegate with the code E132 before Wednesday June 12th. Plus don't forget to bring lots of business cards - you'll need one to enter our competition to win a fabulous locally sourced hamper of goodies!

    Singular in the South East

    G&S Energy is a professional energy consultancy, delivering energy audits and offering sustainable energy advice. It is also the only locally based member of the UK Thermography Association and uses its equipment to show sources of heat, which can be extremely useful in both office andindustrial settings.

    Just one visit can make all the difference

    Audits of electrical and mechanical equipment are fast, safe and non-intrusive. Just one visit from G&S Energy can help prevent problems that could lead to mechanical failure, costly shut-downs and reduce fire risks. 

    We look forward to welcoming you onto our stand (A68) at the Eco Technology Show - June 14th and 15th

  • 09 May 2013 10:06 AM | Tracie Davey (Administrator)
    Every Little Tax Break Counts

    The first four months of the year has already passed and has seen the FTSE100 move over 9%. 2012 also delivered a positive return for the benchmark FTSE100 Index with a rise of nearly 6%. There are no guarantees for 2013 however…

    What is almost guaranteed is that interest rates being offered on deposit, savings and cash ISA accounts will struggle to keep pace with inflation which is currently hovering at 2.3% pa.

    The average interest rate on offer for a cash ISA is now just 1.74%, according to recent research by Moneyfacts. This represents a big drop from rates a year ago which averaged 2.55%. The fall is widely believed to be partly due to the fact that financial service providers no longer need to generate as much custom from savers in the wake of the Bank of England's Funding for Lending Scheme with both instant access and fixed rate ISAs being affected.

    Austerity has been the buzz word for the government and will be in general parlance for a few more years to come with the economy struggling to make headway. With this rather downbeat backdrop, any tax break offered should be considered and taken advantage of.  

    Stocks & Shares ISA’s, introduced in 1999 with an annual allowance of £7,000 have been such a tax friendly home and we have seen the annual allowance increase to its current rate for the 2013/14 year to £11,520. For married couples this gives a significant £23,040 that can be invested in a tax friendly investment this year. Some that have taken advantage by maximising their contributions over the past 26 year when Personal Equity Plans were first introduced and have invested wisely, are now ISA Millionaires.

    For 2013/14 the system will work in the same way as last year ie you can invest the full amount into a stocks and shares ISA, or you can invest up to £5,760 into a cash ISA and the remaining balance into a stocks and shares ISA.

    ISA’s offer one of a number of tax efficient ways of saving and may not be suitable for everyone and it's sensible to have some savings in cash for security and easy access in the event of an unexpected emergency.

    ISA’s are a use it or lose it tax break and therefore failure to take action means the allowance is lost for good. If you need some advice or guidance we would be more than happy to help you.

    Ian Poysden Dip Pfs
    Managing Director
  • 25 April 2013 11:36 AM | Tracie Davey (Administrator)
    New Member to member offers have been added to the website. Support your Business Park.  http://www.lancingbusinesspark.co.uk/Member_Offers
  • 25 April 2013 9:37 AM | Tracie Davey (Administrator)

    Issue 3 of the Rampion Project Newsletter is available to download here

    This issue contains a summary of the key changes made to the final proposals, which were shaped by the feedback received from the consultation last year.  The final application has now been accepted for examination by the Planning Inspectorate and the Newsletter explains the consent process going forward.

    Should you wish to view the final proposals or any of the application documents, please visit the Rampion page on the Planning Inspectorate website here:

    http://infrastructure.planningportal.gov.uk/projects/south-east/rampion-offshore-wind-farm.  If you’d like to comment on the proposals, please note you must register as an interested party with the Planning Inspectorate by no later than 11 May 2013, by visiting the same website.

  • 18 April 2013 9:54 AM | Tracie Davey (Administrator)
    New Job Vacancies posted on Lancing Business Park Jobs Page click link for more details http://www.lancingbusinesspark.co.uk/Job_Vacancies
  • 18 April 2013 9:25 AM | Tracie Davey (Administrator)
    Well done to Lee and the team at L & S for cleaning in excess of 37 vehicles and raising £418.27 for Chestnut Tree House, which is fantastic. A terrific effort from all concerned!
  • 11 April 2013 10:20 AM | Tracie Davey (Administrator)
    As a proud Royal Warrant holder, Manhattan Furniture has been invited to exhibit at The Coronation Festival at Buckingham Palace, between 11th-14th July. They will be accompanied by over 200 Royal Warrant holders and their stand is in the Homes and Gardens section which is one of four sections. The other sections are Food and Drink, Design and Technology and Style, Pursuits and Pastimes.

    They will be launching their new Planet2050® kitchen – this is a kitchen specification which fuses together ultra-sustainable kitchen elements into one neat, stylish kitchen. Planet2050® helps clients (the housing construction industry) to build sustainable and stylish homes by helping them to gain essential credits in both the Code for Sustainable Homes and BREEAM’s Domestic Refurbishment guidelines

    Vicky Vaughan, Marketing Manager at Manhattan Furniture recently met some of the other Royal Warrant holders and said: “The diversity of businesses attending the Coronation Festival is impressive: from royal jewellers to florists and cheese makers. The Coronation Festival is just what 2013 needs and we are thrilled to be a part of it.”

    The Coronation Festival is open to the public and tickets are £30 for Daytime Festival Tickets and £100 for Evening Gala tickets. Catherine Jenkins and Sophie Ellis Bextor are rumoured to be singing at the Evening Gala. Visit www.coronationfestival.com for further information and to purchase tickets. Please do come and say ‘hello’ if you attend.
  • 11 April 2013 10:06 AM | Tracie Davey (Administrator)

    BUDGET 2013




    There had been a great deal of pressure mounting on the Chancellor to boost growth and address the spiralling national debt and deficit as the last three years of austerity have not had the desired effect.
     
    The nation was looking for an inspiring and uplifting Budget that would trigger a turnaround in fortunes for both the economy and the government. His, ‘it is taking longer than anyone hoped’ opening remark was met with howls of derision and came as no great surprise.
     
    He made all the usual big picture announcements around inflation targets, growth and government borrowing forecasts, and gave the tabloids some nice headline opportunities with a 1p off beer duty, but what else was there for businesses and the man and woman in the street?
     
    Well, while I’m sure the scrapping of the planned September rise in fuel duty will be welcomed, the Chancellor didn’t make any radical announcements or policy changes.
     
    One tax cut for jobs and growth came the way of a 1% cut in corporation tax to 20% in 2015.
     
    Personal allowances have increased from £8,105 to £9,440 for the new 2013/14 Tax Year and up to £10,000 the following year. Those aged over 75 are not so lucky with their allowance being frozen at £10,660. However, the Basic State Pension will go up to £5,727.80 for a single person and £9,159.80 for couples and by 2016 (a year early) the proposed level pension will be introduced.
     
    Interest rates still favour the borrower rather than the saver, but a small gesture that I was pleased to see was the ISA limits will be increasing to £11,520 for 2013/14.

    IN SUMMARY


    TAX AVOIDANCE - As part of his Budget speech, Chancellor George Osborne said HM Revenue & Customs is planning to “name and shame” the promoters of tax avoidance schemes in a fresh crackdown on individuals or companies who do not comply with tax laws.

    The Government is due to publish a progress report on its tackling of tax avoidance and evasion this week. It has already set up a ‘general anti-avoidance rule’ with several ‘tax havens’, which will allow the tax authorities to recover money saved by any scheme which is deemed to have been set up simply to avoid tax.

    But not all tax planning is abusive and arrangements such as discounted gift trusts and loan trusts remain unaffected by the changes.

    IHT - The Government also confirmed today its intention to freeze the inheritance tax nil rate band at £325,000 until April 2018. They expect approximately 5,000 additional estates per year to become taxpaying estates by 2017/2018 due to this freeze. Therefore, non-abusive inheritance tax planning will become an important requirement for many clients in the years to come.

    STATE PENSION - The basic state pension will rise by 2.5% in April, taking it to £110.15 a week.

    The Government has also announced it would introduce a single flat-rate pension of £144 a week in 2016.

    SINGLE TIER PENSION - The change from separate Basic State Pension and State Second Pension (S2P) to a combined Single Tier Pension will now happen in April 2016, a year earlier than planned. The starting level of pension, for a full 35 year National Insurance record, is £144 per week in 2013 money.

    The single tier pension is good news for those being auto-enrolled into workplace pension schemes, as it ensures that it will always pay to save by lifting low income workers off means tested benefits in retirement.

    Those who had previously contracted out will have a lower entitlement than £144 to reflect the contracted out pots built up in their personal pensions. But they can rebuild back up to the full £144 by working and paying National Insurance after 2016, and the bringing forward of the launch increases their scope for doing this.

    INCOME DRAWDOWN - The Budget has confirmed that 26th March 2013 will be the date when capped income drawdown rates will rise from 100% to 120% of the value of an equivalent annuity.

    Furthermore, the Budget confirms that the government has commissioned the Government Actuary’s Department to review the income drawdown tables. This review will look at the assumptions used to provide drawdown rates to "make sure they continue to reflect the annuity market." Ensuring that drawdown rates remain accurate is to be welcomed as GAD rates have been so low in the past that they have effectively fallen below annuity rates.

    CAPITAL GAINS TAX - The annual exemption from tax of any capital gains will increase by 1% a year in 2014-15 and 2015-16, to £11,000 from 6 April, 2014 and £11,100 from 6 April, 2015.

    ISA - The stocks and shares ISA limit will rise to £11,520 and the cash ISA limit will rise to £5,760 with effect from 6 April 2013.

    INCOME TAX - The personal allowance is currently £8,105 and will go up to £9,440 from April this year. But the Chancellor announced today that he is raising the allowance to £10,000 in April next year (one year earlier than expected), which means that almost 3 million of the lowest paid will not pay any income tax.

    Longer term we will see higher rate income tax payers are better off - The higher rate income tax threshold will increase by 1% a year in 2014/2015 and 2015/2016. That is below the level of inflation, and is likely to bring another 400,000 taxpayers into the 40% higher rate.

    NATIONAL INSURANCE CONTRIBUTION - Every company in the UK is to be able to get up to £2,000 cut from their National Insurance Contributions (NIC), which means that they can hire someone on £22,000, or four people on the minimum wage, and pay no jobs tax. This is intended to help small firms.

    CORPORATION TAX - Osborne cut Corporation tax from 23% now to 20% from April 2015.

    FUEL DUTY - No increase in fuel duty in September.

    ALCOHOL DUTY – Immediate reduction in alcohol duty on beer by 1p a pint as (beer was due to go up by 3p in April). But 'duty escalator' to remain in place for wine, cider and spirits.

    TOBACCO DUTY - Escalator stays in place – so tax on a packet of cigarettes to go up by inflation +5%.


    While we all hope that he succeeds in generating the much needed growth in the economy - only forecast to be 0.6% in 2013 rising to 2.8% in 2017 – it is fair to say that the credit crisis left the economy on its knees and, perhaps unavoidably, the subsequent plans and actions adopted by the government are more of a step into the unknown than a tried and tested formula to recovery.

    Ian Poysden Dip Pfs
    Managing Director
  • 28 March 2013 12:41 PM | Tracie Davey (Administrator)
  • 28 March 2013 12:21 PM | Tracie Davey (Administrator)

    BUDGET 2013

    There had been a great deal of pressure mounting on the Chancellor to boost growth and address the spiralling national debt and deficit as the last three years of austerity have not had the desired effect.
     
    The nation was looking for an inspiring and uplifting Budget that would trigger a turnaround in fortunes for both the economy and the government. His, ‘it is taking longer than anyone hoped’ opening remark was met with howls of derision and came as no great surprise.
     
    He made all the usual big picture announcements around inflation targets, growth and government borrowing forecasts, and gave the tabloids some nice headline opportunities with a 1p off beer duty, but what else was there for businesses and the man and woman in the street?
     
    Well, while I’m sure the scrapping of the planned September rise in fuel duty will be welcomed, the Chancellor didn’t make any radical announcements or policy changes.
     
    One tax cut for jobs and growth came the way of a 1% cut in corporation tax to 20% in 2015.
     
    Personal allowances have increased from £8,105 to £9,440 for the new 2013/14 Tax Year and up to £10,000 the following year. Those aged over 75 are not so lucky with their allowance being frozen at £10,660. However, the Basic State Pension will go up to £5,727.80 for a single person and £9,159.80 for couples and by 2016 (a year early) the proposed level pension will be introduced.
     
    Interest rates still favour the borrower rather than the saver, but a small gesture that I was pleased to see was the ISA limits will be increasing to £11,520 for 2013/14.
    IN SUMMARY


    TAX AVOIDANCE - As part of his Budget speech, Chancellor George Osborne said HM Revenue & Customs is planning to “name and shame” the promoters of tax avoidance schemes in a fresh crackdown on individuals or companies who do not comply with tax laws.

    The Government is due to publish a progress report on its tackling of tax avoidance and evasion this week. It has already set up a ‘general anti-avoidance rule’ with several ‘tax havens’, which will allow the tax authorities to recover money saved by any scheme which is deemed to have been set up simply to avoid tax.

    But not all tax planning is abusive and arrangements such as discounted gift trusts and loan trusts remain unaffected by the changes.

    IHT - The Government also confirmed today its intention to freeze the inheritance tax nil rate band at £325,000 until April 2018. They expect approximately 5,000 additional estates per year to become taxpaying estates by 2017/2018 due to this freeze. Therefore, non-abusive inheritance tax planning will become an important requirement for many clients in the years to come.

    STATE PENSION - The basic state pension will rise by 2.5% in April, taking it to £110.15 a week.

    The Government has also announced it would introduce a single flat-rate pension of £144 a week in 2016.

    SINGLE TIER PENSION - The change from separate Basic State Pension and State Second Pension (S2P) to a combined Single Tier Pension will now happen in April 2016, a year earlier than planned. The starting level of pension, for a full 35 year National Insurance record, is £144 per week in 2013 money.

    The single tier pension is good news for those being auto-enrolled into workplace pension schemes, as it ensures that it will always pay to save by lifting low income workers off means tested benefits in retirement.

    Those who had previously contracted out will have a lower entitlement than £144 to reflect the contracted out pots built up in their personal pensions. But they can rebuild back up to the full £144 by working and paying National Insurance after 2016, and the bringing forward of the launch increases their scope for doing this.

    INCOME DRAWDOWN - The Budget has confirmed that 26th March 2013 will be the date when capped income drawdown rates will rise from 100% to 120% of the value of an equivalent annuity.

    Furthermore, the Budget confirms that the government has commissioned the Government Actuary’s Department to review the income drawdown tables. This review will look at the assumptions used to provide drawdown rates to "make sure they continue to reflect the annuity market." Ensuring that drawdown rates remain accurate is to be welcomed as GAD rates have been so low in the past that they have effectively fallen below annuity rates.

    CAPITAL GAINS TAX - The annual exemption from tax of any capital gains will increase by 1% a year in 2014-15 and 2015-16, to £11,000 from 6 April, 2014 and £11,100 from 6 April, 2015.

    ISA - The stocks and shares ISA limit will rise to £11,520 and the cash ISA limit will rise to £5,760 with effect from 6 April 2013.

    INCOME TAX - The personal allowance is currently £8,105 and will go up to £9,440 from April this year. But the Chancellor announced today that he is raising the allowance to £10,000 in April next year (one year earlier than expected), which means that almost 3 million of the lowest paid will not pay any income tax.

    Longer term we will see higher rate income tax payers are better off - The higher rate income tax threshold will increase by 1% a year in 2014/2015 and 2015/2016. That is below the level of inflation, and is likely to bring another 400,000 taxpayers into the 40% higher rate.

    NATIONAL INSURANCE CONTRIBUTION - Every company in the UK is to be able to get up to £2,000 cut from their National Insurance Contributions (NIC), which means that they can hire someone on £22,000, or four people on the minimum wage, and pay no jobs tax. This is intended to help small firms.

    CORPORATION TAX - Osborne cut Corporation tax from 23% now to 20% from April 2015.

    FUEL DUTY - No increase in fuel duty in September.

    ALCOHOL DUTY – Immediate reduction in alcohol duty on beer by 1p a pint as (beer was due to go up by 3p in April). But 'duty escalator' to remain in place for wine, cider and spirits.

    TOBACCO DUTY - Escalator stays in place – so tax on a packet of cigarettes to go up by inflation +5%.


    While we all hope that he succeeds in generating the much needed growth in the economy - only forecast to be 0.6% in 2013 rising to 2.8% in 2017 – it is fair to say that the credit crisis left the economy on its knees and, perhaps unavoidably, the subsequent plans and actions adopted by the government are more of a step into the unknown than a tried and tested formula to recovery.

    Ian Poysden Dip Pfs
    Managing Director