The Business Exchange Swindon & Wiltshire September 2014 Edition | Page 10
FINANCE
Hear It From The Experts…
“The grease that keeps the economy rolling”
Growth costs money, and hard as it is
Some business owners considering
for companies to grow without access to
embarking on a fundraising exercise, do
finance, it’s as difficult for the economy
worry it may not be successful and therefore
to grow without companies starting and
a waste of their valuable time.
growing their business. It’s a catch 22.
The assurance we can give, is that if we
Owner managers are loath to borrow
commit to helping you raise investment, we
from the banks, seeing them as inwardly
are only paid when the new funds become
focused unreliable partners, so as a
available. Structuring our fees this way
business owner - what are your options?
demonstrates our belief in the success of
According to Economia magazine, chartered
the project”, says Richard Buzzoni.
accountants are better placed than most to
“What’s more, we ensure the fundraising
offer advice on how to grow a sustainable
process is well planned, and the information
business.
going to the right funders will lead to
Mike Gregory, owner of Lovingtons
competition between them. By creating this
Ice Cream Ltd, agrees: “The team at
competition we can deliver the best deal for
Watersheds corporate finance, were
you and your business”, he adds.
instrumental in helping us secure additional
If you are a business owner who would
equity investment and the deal was
like to grow your business, please do get in
completed in less than two months.
touch for an informal chat.
They knew what was required to make
Please call Sue Green on: 01793 719788
us ‘investment ready’ and attractive for
or email on: [email protected]
funding”, said Mike. The additional funding
meant we could achieve our growth goals
ahead of our targets”, he added.
“It’s good news that the options for
companies looking to raise finance are
greater than ever, but building a compelling
story that ‘stacks up’ for potential investors
and lenders,SBE critical part of the process. 19/8/14 09:18:38
is a Ad Mailer 103x122.pdf
The Auto-Enrolment Pension
Scheme for Small Businesses
The point of this scheme is to encourage everyone
to pay more towards their pension, reducing
pressure on the State.
Under auto-enrolment, UK businesses
employing one or more “workers” will
have to enrol them into a pension scheme
from a pre-defined “staging date”.
Workers can opt out of the scheme – but
only after you have enrolled them.
There is a timetable for businesses to
set up pension arrangements under autoenrolment. You can find your “staging
date” if you enter your PAYE reference
into www.thepensionsregulator.gov.uk/
employers/tools/staging-date.aspx
No employees
If you are a director of a Company with no
employees (assuming you haven’t issued
yourself a formal contract of employment),
then your Company is counted as having
no “workers”. This means you are not
required to take any notice of autoenrolment. It’s good news because you
won’t have to get involved with any extra
administration.
If you have low paid employees
You don’t have to automatically enrol
employees who earn less than £10,000/
year but they can join if they choose to. If,
say, you employ your spouse or partner
earning less than £10,000/year, you can
make your own pension arrangements
without engaging in the auto-enrolment
scheme but remember, if you have other
employees they have the right to join.
Higher Earning Employees & NEST
(National Employment Savings Trust)
If you do have employees earning over
£10,000 p.a. you will need to auto-enrol
them. You will also need to choose a
pension scheme provider. It is possible
that some pension companies will not
be interested in running extremely small
pension schemes. NEST is a Government
backed pension scheme that you could
use, however, you can’t transfer funds
from another pension scheme into a NEST
scheme and you cannot transfer funds
out of NEST. It is less flexible than other
pension schemes where you can transfer
funds from one to scheme to another.
Ask AMS
Advice for small businesses
Re changes to the Childcare Voucher scheme, will I be able to give
childcare vouchers to my Employees next year?
C
From autumn 2015 (dates to be confirmed), Employers will no
longer be required to issue childcare vouchers, and many may view
this with some relief! The Childcare Voucher scheme will be phased
out – and the new Tax-Free Childcare scheme (using an online
National Savings account) will begin to replace it.
M
Y
CM
MY
CY
However, many Employees may want to stay in the old voucher
scheme - because it benefits children up to 15 years of age,
whereas the new scheme only benefits children up to 11 years old.
CMY
K
Employers can opt to continue administering the old scheme for
the benefit of some existing staff, but new staff/parents cannot join
the current scheme from next autumn.
Peter Bromiley ACA ,
AMS Accountancy Ltd., Swindon SN5 7XF
01793-818400
[email protected]
www.ams-accountancy.co.uk
10
THE BUSINESS EXCHANGE 2014