Exclusive Shopping Evening @ Princesshay, Exeter

Brewin Dolphin Exeter reacts to the Budget

Tim Walker the Head of Brewin Dolphin’s office in Exeter said,

“Like a phoenix from the flames, Osborne’s policy sees the British pension rise from its deathbed, freed from fears over stealth taxes and over complication. This is a total game changer, and will result in the almost immediate death of the annuity – for which we have long called for. It is a huge change in the flexibility of the pension system, with lower taxes and higher lump sums. We welcome the fact that the government is willing to trust people with their own finances and await clarification on how the vast amount of necessary advice will be delivered.”  

“The Chancellor has removed the ‘nanny knows best’ aspect of the ISA – allowing a far broader range of products, and the ability to switch from shares to cash and back again. With a massive increase in the amount that can be sheltered in an ISA wrapper, as well as the inclusion of peer to peer lending and shorter dated retail bonds, the ISA is now a far sharper tool in the tax planning toolkit.“

“Given the importance of retired individuals to Devon’s economy we expect these changes will have a local impact. We also expect to see a significant rise in the demand for advice on how best to benefit from the new rules.”

www.brewin.co.uk

New home – New baby for Somerset couple with ‘Help to buy’ scheme

Husband and wife Anthony and Katey Pimblett celebrate the birth of their baby daughter Lauren at their new home purchased under the ‘Help to Buy’ scheme at Fern Green based in Langport.  The Somerset development built by award-winning independent builders C G Fry & Son has to-date sold five of its 30 private houses under this scheme.

Katey and Anthony Pimblett with new baby daughter Lauren and son, Max

The *‘Help to Buy’ Equity Loan scheme helps first time buyers and those looking to move up the property ladder to purchase a new-build home.  The government-backed initiative was set up to help new and existing home owners to purchase a property with as little as a 5% deposit.

The couple who have been married for four years originally re-located from Bristol to a rented house in a Somerset village as they could not afford to get in to the local property market.

Anthony who grew up in South Petherton says: “I created a financial spreadsheet and worked out that it would take us at least five years to get on the property ladder by saving a 20% deposit and getting a mortgage.  We wanted a family home sooner and were delighted when we heard that there was this scheme available.  I was already aware of the excellent reputation of C G Fry & Son so when we heard about the scheme for new-build homes we decided to visit their Somerset development.  I worked out if we were a successful applicant then we would spend less on the monthly mortgage and have our own home than we were paying for rented accommodation which was not a practical living space for young children.”

Fern Green based on the edge of Langport is the latest C G Fry & Son Somerset development following the successful completion of adjacent Old Kelways based on the site of the original nursery. The houses at Fern Green have generous proportions, good-sized gardens with the combination of traditional craftsmanship using modern materials and technique’s to recreate the look of those properties built centuries before.  Surrounded by unspoilt countryside the development is within easy commuting distance of Yeovil, Taunton and Bridgwater with good local amenities.

Anthony and heavily pregnant Katey moved in to their new house together with their young son Max aged 2.5 years.

Katey comments: “Anthony and I don’t normally like new houses as the majority are so box-like and we wanted space and a decent size garden in a safe area to bring up a family.  Fern Green has a lovely feel to it and it is within walking distance of shops and cafes and there are good local schools.  When we visited the site, we were immediately impressed with the layout, the wider roads, open green spaces and the houses were not crammed in. The quality of the house is really high and there is plenty of storage with a well-thought out and practical layout.  The sales office staff were very helpful and made it easy to apply for the ‘Help to Buy’ scheme.”

www.cgfry.co.uk

The Devon Business Expo 2014 brought to you by TheBestOf Exeter

An exhibition for start-ups, entrepreneurs, business owners and corporates wishing to raise brand awareness

Venue: Matford Centre, Marsh Barton, Exeter, EX2 8FD

Date: Thursday 5^th June 2014

Time: 12 noon – 17.30

17.30 - 19.00 - After show networking party sponsored by Business Network (SW)

FREE ENTRY FOR DELEGATES

Call:  01392 349 130 for more information or to book a stand

The Devon Business Expo with headline sponsor Basepoint Business Centres, is a new and exciting event with over 100 exhibitors.  Aiming to attract 1000 delegates from across the region, this not to be missed business event will be showcasing the best that the Devon business community has to offer, with keynote speaker and topical seminars.

Networking opportunities include speed-networking, a networking café, Exeter Chamber of Commerce members’ lunch and after-show drinks reception sponsored by Business Network (SW). A charity raffle with great prizes will raise funds for TheBestOf Exeter‘s Charity of the Year, Dream-A-Way.

Ex-Serviceman launches unique new business venture

Torquay-based Dave Morris (26) has left a 10 year military career with The Royal Air Force (RAF)  to launch an exciting new commercial business, ‘Nomad LED’, the UK’s first all-electric, emission free, fleet of mobile advertising vehicles sourced in Europe.  And the newly launched company is already drawing attention in the region including Torbay Council and the Police for a potential local community event.

Nomad’s innovative fleet of electrically-powered vehicles equipped with state-of-the-art LED display screens, are designed to provide a cost-effective means of delivering a company’s message at a number or events including trade shows, exhibitions or sports events to promote a campaign or simply showcase the company’s brand and products.  The company offers nationwide coverage both day and night. Purpose-built, the quirky and eye-catching vehicles come equipped with software content management programmes and the company is looking to upgrade these to be even more flexible to link to social media messages and other technology.

Dave retired from the RAF in February this year where he had worked in a Field Communications Unit.  Joining straight from school at the tender age of 16, Dave has seen action in a number of overseas locations including Cyprus, Iraq and Afghanistan.  His training in the RAF was in IT, communications and audio-visual technology and he gained an in-depth knowledge of LED displays.  He worked with the revered RAF presentation team travelling around the country talking with authority to business societies and groups as well as the general public at events and air shows often with the world’s premier Royal Air Force Aerobatic Team, The Red Arrows demonstrating their spectacular and captivating displays and fly-pasts.

Matt Mckee and Dave Morris on an RAF C130 Hercules whilst on operations in Afghanistan in 2009. 

Swapping his military camouflage for a business suit, entrepreneurial Dave will be offering three types of eco-friendly and stylish vehicles to hire, suitable for both indoor and outside events.  The Eco-AdScooter, a three-wheel vehicle with five page scrolling ads on each side as well as the Eco-Mini AdVan and the large Eco-AdVan  which both have a high quality 6mm pixel pitch outdoor LED screen all powered by battery.  The vehicles have an eight-hour battery life and can be easily re-charged using a standard British three-pronged plug.

Dave Morris, managing director Nomad LED says: “I am really excited about this new venture and being part of ‘Civy-Street’ for the first time following a great and rewarding career in the forces. I have been working on the concept over the last 12 months and in real earnest since the autumn.  My research indicates there is a large market for LED displays but there are very few mobile advertising vehicles and we are already gaining a lot of interest. We believe we are the first in the UK and possibly Europe to supply these type of eco-friendly vehicles powered by battery which makes the product eco-friendly and green.  The beauty of our products is that they have the ability to drive through highly-populated and pedestrianised areas because they are environmentally friendly and emission-free which is an important factor in modern commerce.”

Dave Morris Managing Director Nomad LED / Ian Morris Director Nomad LED and Adam Egan (Ex-RAF) showcasing the Eco-Mini AdVan

Newly launched in the South West, pioneering Dave Morris is already thinking of expanding outside of the UK. He comments; “We have the resources available to add more vehicles as needed.  We are starting out small but as the business evolves I would like to consider opening a second operation in Europe, probably somewhere like Sweden because the country has a keen interest in the environment and is known as a green destination.”

www.nomad-led.co.uk

The big budget decider: Can the Government afford the nation not to save?

 Our panel of experts will be tweeting and commenting throughout the Budget on 19^th March from @Brewin_Guy

Wealth manager Brewin Dolphin unveils its budget predictions

A key focus of this year’s budget is likely to be pensions and the increasing demand for reform in the annuity market. Nick Fitzgerald, head of financial planning, said, “We are always busy with pensions in the approach to the end of the financial year, but this year we have not noticed a discernible increase above the usual, of clients rushing to top up their pension pots.

“The world of pensions is increasingly less certain with a loss of trust in the stability of the regime. Over recent years we have seen a constant nibbling away at the incentives to save; reducing lifetime allowances; a fear of means testing for the state pension; investments in pension funds no longer receiving dividend tax credits – which were a huge incentive in the past; and now more and more pension savers are paying higher rate tax in retirement. Altogether, these changes are making ISAs a more attractive long term savings vehicle.

“There is a growing fear that pension savings are an easy target for stealth taxes. A commitment from the government that pension reliefs will not be tinkered with for the lifetime of the next Parliament would help restore trust, especially in the face of Labour’s intention to restrict higher rate tax relief - costing pension savers an estimated £1 billion per annum.   If we are to avoid seeing further erosion of pensions, we must regain confidence in the Government’s intentions on incentives and also push hard for reform of the annuity market.”

Members of the Brewin Dolphin team have given their key predictions:

PENSIONS

Richard Harwood, divisional director financial planning - predicts:

·         Restrictions on some of the more esoteric investments that can be held in pension schemes.

·         Possible new limits to pension tax relief that may hit the ‘squeezed middle’

·         Announcement that small pension pots – say <£40k – will no longer be forced to buy an annuity

“The government has put in place measures to further limit tax reliefs to those thought of as wealthy.  It would seem that there is political will to restrict tax reliefs so the limits may be tightened further in future, but there is a danger that these will again hit the ‘squeezed middle’”.

TAX & NI

Guy Foster, head of portfolio strategy - predicts:

·         A clear political and economic rationale exists for raising the national minimum wage beyond the 3% recommended by the low pay commission, although the likely casualty of such a move might be further advances in the personal allowance.

·         The distinction between income tax and NI is now so blurred as to be meaningless and this nettle needs to be grasped.

Guy Foster commented, “Mr Osborne has been quite clear about the type of budget he is planning. Large scale giveaways aren't justified by either the political or economic cycle this year.  Even as inflation falls, however, the accumulated decline in real incomes from rising prices and stubbornly inert wages remains a hindrance to economic prospects.  A big issue therefore is what he may do for the low paid.”

VCT & EIS

Richard Harwood, divisional director financial planning - predicts:

·         Possible increase in investment limits for Venture Capital Trusts and Enterprise Investment Schemes.

·         Further tweaking of the rules to ensure that eligible investments are not just tax-relief schemes.

“Increasingly EISs and VCTs are providing funding for businesses that would traditionally be the domain of banks.  But we would not be surprised if there was further tweaking of the rules on what investments are approved in order to ensure that there is true risk within the plans and that they are not just schemes to maximise tax reliefs.”

TAX AVOIDANCE

Richard Harwood, divisional director financial planning - predicts:

“This continues to be a priority and any victory in court for HMRC is strongly publicised, so we should expect the closure of perceived loopholes to be highlighted.”

ISAs

Rob Burgeman, divisional director predicts

 “We would welcome a commitment from the Government to ISAs as a core long term savings vehicle for UK citizens.  Speculation is building that there may be changes here and the uncertainty is most unwelcome and destabilising at a time when every encouragement should be given to those seeking to ensure their long term financial security. Any restrictions on ISA savings will drive the spare savings flow into the already overheated property market.”

CAPITAL GAINS TAX REFORM

Rob Burgeman, divisional director predicts:

“Greater simplification is required over CGT, especially as savers are now being taxed on inflation since the indexation of book costs was removed. How long before we will see fair differentiation in the taxation of short term speculation and long term investment?”

www.brewin.co.uk/exeter

Farming Consultancy offers South West farmers assistance with Grant applications

Haines Watts Rural Business farming consultant Lucy Thomas has been kept busy helping agricultural clients to apply for the latest round of ‘Catchment Sensitive Farming’ Capital Grants at various locations around the South West.  

The scheme is part of the Catchment Sensitive Farming project which provides advice to farmers to help them implement changes in farming that reduce the risk of both water pollution, and the regulation being applied to farming to achieve required water quality standards.  Catchment Sensitive Farming (CSF) delivers practical solutions and targeted support to enable farmers and land managers to take voluntary action to reduce diffuse water pollution from agriculture to protect water bodies and the environment.  

Mike Feneley, Partner and Lucy Thomas, Farming Consultant of Haines Watts Rural Business LLP 

A joint project between the Environment Agency and Natural England, it is funded by Defra and the Rural Development Programme for England, working in priority catchments within England. The Catchment Sensitive Farming Capital Grant Scheme (CGS) is open for applications from 1 February to 31 March 2014 with successful applicants having works completed by 31 January 2015.

Haines Watts Rural Business LLP provide a unique combination of agricultural and financial expertise to rural business in the South West. The firm offers both personal and business support to managers and owners to develop and put in place tailored farm strategies, annual plans and improvement projects together with technical advice.  In addition they can provide grant advice and assistance with applications including RDPE grants and offer practical advice on planning applications.  


Lucy Thomas, Farming Consultant – Haines Watts Rural Business LLP says:  “There are many opportunities to apply for agricultural grant funding and we offer a personal service to our clients to make them aware of what is out there and also help secure funds.   The hard-working farmers work very long hours whilst constantly battling against the elements, particularly with the severe flooding in the early part of this year.  As a result they may not be aware of what is available for them.  Also it’s not easy to find the time to complete the paperwork and this is where Haines Watts Rural Business steps in.  My role as farming consultant is to take this extra work off their shoulders and ensure that we put in the best possible bid to give a better chance of securing funding, particularly in such a competitive market with limited funds available.”

One of Lucy’s farming clients who utilised her expertise to gain a successful grant application for the (CSF) 2013 scheme is dairy farmer Andrew Allin of RJ Allin & Sons, based at Clawton, Holsworthy.   Lucy assisted Andrew throughout the application process by completing the necessary forms and arranging meetings with CSF officers.  She then organised the submission of the CSF form with the items Andrew required and how they would benefit the farm and were most suited to the scheme. 

The farm with 230 dairy cows and 450 acres is in the ‘Catchment Sensitive’ area of Tamar Tavy and the application was for some hard-standing cow tracks to be installed with fencing alongside.  Lucy worked closely with Andrew to achieve the items of particular interest for funding in this catchment to:

• Reduce run-off of soil and nutrients into watercourses from yards and field
• Reduce potential damage to soil caused by vehicles and/or livestock movements or grazing during wet conditions
• Improve field operations to limit sources and pathways for soil wash and run-off into water courses
• Reduce the requirement for spreading manure and slurry at times that can result in a high risk of run-off

 Lucy calculated eligible areas to maximise the grant funding on behalf of her client and even applied for an extension as work was delayed due to some of the worst flooding seen in the area for many years.   

Andrew Allin, RJ Allin & Sons, Holsworthy says: “The service offered by Lucy at Haines Watts Rural Business was invaluable. She really knows her way around the forms and goes that extra mile by getting in touch with the relevant bodies to gain maximum funding.  The works had to be completed by 28th February this year, however due to the severe wet weather conditions, this was delayed as we could not gain access to the land.  Lucy contacted Natural England on our behalf and successfully negotiated an extension which has given us peace of mind.”


www.hwca.com/agricultural_consultants

Newton Abbot Racecourse Ladies Day - 24th June