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Latest Park News


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.
  • 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

  • 07 March 2013 11:14 AM | Tracie Davey (Administrator)
    As a member of Lancing Business Park don't forget to regularly visit our members offers page www.lancingbusinesspark.co.uk/Member_Offers and support fellow businesses on the Park. If you would like to submit an offer please email admin@lancingbusinesspark.co.uk
  • 28 February 2013 1:00 PM | Tracie Davey (Administrator)

    Factory space to let


    Approx 6500 sq ft., but could be split
    Use of large yard and parking spaces for several cars
    All securely fenced and building alarmed.
     
    For more details or to view please contact:
    Maurice Lee 
    Downlands Packaging Ltd
    Tel: 01903 756611
  • 28 February 2013 10:44 AM | Tracie Davey (Administrator)
    Metal theft is one of the biggest issues facing businesses at present. Nationally, the cost associated with it is in the millions and affects companies large and small, impacting on your profits due to the increased costs for your business.

    The Government invested £5 million into a special task force to combat this UK wide issue, but due to cuts, it's likely to be withdrawn and the task force disbanded.

    Since the formation of the taskforce, metal theft in some areas has plummeted to its lowest level since 2006, without the task force and preventative measures it is logical we may witness a rise again in the number of UK metal thefts.

    If your or kegs are stolen would you know what you're covered for? Does  your policy have a condition which stipulates minimum security measures that must be taken to prevent the loss in the first place? If it doesn't, would a potential claim be covered? According to Metropolitan Police the whole problem of metal theft is estimated to cost the UK economy £1 billion a year.

    We understand that you need to run your business and juggle priorities to make it safe and profitable. We also understand you might not have enough time to consider all the aspects that may impact upon it. Your current broker should be in touch with you offering valuable risk management advice to combat metal theft and reduce the likelihood of a claim. This in turn will help reduce claims and associated insurance costs.

    Samuel Ashby Cert CII | Development Executive | Sutton Winson Ltd
  • 24 January 2013 10:29 AM | Tracie Davey (Administrator)
    FREE! CPD SESSIONS - Driver Road Safety Awareness

    SATURDAY 9TH FEBRUARY 2013 -
    Book Now as places are filling fast
    Centenary House, Worthing

    The Sussex Safer Roads Partnership are offering a free one-hour
    CPD
    session Continuing personal or Professional Development looking at road safety responsibilities and issues
    when driving for work and business.

    Topics Covered
    • Speed
    • Mobile Phone Use
    • Seat belt law
    • Vehicle and driving licence documentation and checks
    • Implications of the Corporate Manslaughter and Corporate Homicide Act
    Managers and Employee sessions available

    For more information or to book visit -    www.CostsProject.co.uk    - Spaces are strictly limited.

  • 13 December 2012 10:57 AM | Tracie Davey (Administrator)
    Scope is a well known charity who assist people of all ages to overcome their disabilities and try and help them to lead a normal life.  One aspect of their work is to try and find workplaces both for work experience and also full time employment, and if you feel that you can offer either of these, Scope would like to hear from you.

    Following your initial call Scope will send a representative to view your premises and discuss with you if it is suitable to progress further.  They will arrange free work trials so you can see if the individual is right for the role by letting them do the job for a few days, and then if both parties are happy seek to make the arrangement permanent.  They will continue to offer support for both the employer and employee for as long as it is necessary.
      
    If you feel that your company can offer a position, please call Liz Byrne on 07854 704816 or the office on 01273 622434

    Your call could make a significant difference to the life of another.  Please think about it.
  • 15 November 2012 12:23 PM | Tracie Davey (Administrator)
    BOOK NOW for the next Team Sport Karting Challenge Lancing Grand Prix
    Monday 3rd December 2012.

    The Teamsport Lancing Karting Grand Prix is back for the final time in 2012.

    Parafix are the reigning champions after a superb drive last time saw them narrowly pip Fox & Sons with Carpenter Box third.

    The event will be staged on Monday 3rd December at 7pm at the usual price of £99/team (of up to 4 drivers). 

    The format will be an extended 30 minute Practice/Qualifying session followed by a 1½ hour flat out race with drivers only stopping for driver changes and penalties. 

    To book please email  trackmanager.brighton@team-sport.co.uk , these events are usually very popular so book soon to avoid disappointment!
  • 15 November 2012 9:39 AM | Tracie Davey (Administrator)
    The Recycling Trial undertaken by Lancing Business Park for wood collection is due to finish on 28th November 2012.  This has been a popular service with some very encouraging results and is assisting UK Central Government target of generating electrical energy from renewable sources.

    Adur & Worthing Council Services will continue to offer the service but charges will be made to the individual business for the amounts of wood collected.  The price for pallet collections are set out below.  For all other requests, prices will be quoted on an individual basis.

    For efficient logistics of the collection round, all requests will need to be submitted accurately via email to commercialwaste@adur-worthing.gov.uk.  If in doubt, please contact the Commercial Waste Team for further advice on 01273 263050.  The price will be agreed prior to collection or a visit will be arranged to give a non obligatory quote.  

    For standard sized pallets the following prices apply:

    Up to 5 pallets  = £12
    5 to 10 pallets   = £25
    11 to 30 pallets = £65
    30 to 45 pallets = £105 (this equates to a full transit load)

    These prices are subject to change, should the tariff for wood disposal vary.

    For charges for other items or general enquires please do not hesitate to contact the Commercial Waste Team. 

  • 08 November 2012 1:08 PM | Tracie Davey (Administrator)
    Please find some information below regarding preventing thefts of catalytic converters


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