The Maids Head Hotel has partnered with Blowers this year to offer some special events to cricketing enthusiasts in Norfolk. Working with Norfolk County Cricket Club and Norfolk Cricket there are several events planned with Blowers. An afternoon tea in the company of Blowers Sunday, 12th June 2022 2.00pm – 4.30pm Enjoy a traditional afternoon tea under the glittering chandeliers of the Minstrel Suite at the Maids Head Hotel and listen to Blower’s recount stories from his illustrious past. Tickets just £30 per person, or book a table for 8 for just £220. Children’s afternoon tea also available. Black Tie Dinner with guest speaker Henry Blofeld Friday, 21st October, in aid of the Maids Head charity of the year, Norfolk and Waveney MIND. Celebrating the success of the Maids Head at the recent East of England Tourism Awards when they were awarded Highly Commended in the Taste of East of England Award, Head Chef Simon and his brigade will be treating guests to a 4-course Taste of East of England dinner, where seasonal and local produce will be championed. After dinner, Blowers will regale tales from both his cricketing and broadcasting career. Tickets £85.00 per person, or book a table for 8 for just £600. Price includes arrival drink and 2 glasses of wine, especially paired with the dishes. Accommodation packages also available for both events. Blowers will also be in attendance when Norfolk play Nottingham at Manor Park, Horsford on Sunday, 31st July. There is a fourth date planned as a community project. With the aim of working with local schools to engage with young people, providing them with access to Blowers for some coaching and careers advice. Details to follow Christine Malcolm, General Manager at the Maids Head Hotel commented “We are delighted to be partnering with Blowers to be able to offer these very special events and know that they will be most entertaining for all who attend” Accommodation packages also available for both events. To find out more contact marketing@maidsheadhotel.co.uk or speak to Jo Hoy, by calling 01603 209955 To make a booking, call 01603 272008 or email events@maidsheadhotel.co.uk
Apprenticeships Norfolk has launched a survey as part of a wider research project to capture insights and feedback from Norfolk businesses, in terms of understanding the challenges and barriers they face when considering setting up an apprenticeship in their organisation. All businesses can fill it in – while we are very interested in the non-levy (SME) sized businesses in Norfolk, insights from larger organisations are also welcome. A business can complete the survey if they have had apprentices before, or if they haven’t – and the best bit, it is very quick to complete, under 3 minutes on average. The survey is completely anonymous (unless you choose to leave details if they would like us to make contact – however, this is completely optional). The survey responses will help us shape future service offers to provide solutions that our Norfolk businesses tell us they need. Please could you help us to gain Norfolk-wide insight, by completing the survey? The link is here: https://forms.office.com/r/4DW6tAz1WP As always, thank you in advance for your help/support – we really appreciate the opportunity to work together to understand more about our Norfolk businesses and how we can support increased apprenticeship activity.
Greater Anglia, along with train companies across the country, is extending free train travel for survivors of domestic abuse for another year. The move comes as figures show four survivors a day nationally, on average, have been using the scheme and reports show that abuse has worsened during coronavirus restrictions. Since March 2020, when the scheme was introduced, train operators across the country have provided free tickets to 3,118 people, including 874 children. 65% of people who used Rail to Refuge to date said they would not or could not have travelled if the journey hadn’t been paid for, with an average journey for recipients costing £73. The ‘Rail to Refuge’ scheme is a partnership between the Rail Delivery Group, which represents train operators, and Women’s Aid Federation England, Welsh Women’s Aid, Scottish Womens’ Aid and Imkaan. Jamie Burles, Greater Anglia’s Managing Director, said, “We’re proud to be a part of this vital scheme which is making a real difference to survivors of domestic abuse.” Survivors are supported by Women’s Aid Members Services and when they are offered a refuge place, the service can book the ticket(s) they need, with train companies covering the cost. Tickets are also provided for their children, if required. They can be used as e-tickets on a phone or can be picked up from stations with a debit or credit card. The scheme allows survivors to board a train and travel without having to explain their situation to anyone. Survivors of domestic abuse who would like to access the Rail to Refuge scheme, or need other support, can get in touch with Women’s Aid through their Live Chat service, open Monday – Friday, 8:00am – 6:00pm, Saturday and Sunday 10:00am – 6:00pm: https://chat.womensaid.org.uk Greater Anglia has also made its website a ‘Safe Space’ for survivors of domestic abuse. Online ‘Safe Spaces’ are untraceable web pages with information on specialist domestic abuse support services, national helplines and other resources developed by the charity, UK SAYS NO MORE. The train operator has added the charity’s ‘Safe Space’ widget to its home page at greateranglia.co.uk to enable those experiencing domestic abuse to discreetly access support and information while carrying out daily online tasks. The ‘Safe Space’ webpage does not appear in internet browsing history and has a quick exit function.
Mark leads strategic planning and delivery of external Lotus Engineering consultancy projects
More than 20 years of front-line leadership experience across wide range of engineering disciplines
Priorities include commercialising Lotus’ four proprietary high-performance architectures to grow whole-vehicle engineering business
Fresh focus on advanced technologies in design and concept engineering, control systems, product attributes and propulsion across multiple mobility sectors
Lotus has announced the appointment of Mark Stringer as the new Commercial Director of Lotus Engineering, the consultancy division of the business. Mark leads the strategic planning and delivery of projects for a wide range of OEM and supplier clients across the automotive industry and beyond. This includes the ongoing collaboration between Lotus and Alpine, the performance car division of Groupe Renault that is spearheading next-generation EV sports cars for both brands. Mark commented: “I’m delighted to be leading Lotus Engineering at this pivotal point in the transformation of the whole Lotus business and brand, and also at such a fascinating time for the industry, as technology and innovation drives new mobility and propulsion solutions across all sectors.” Mark has more than 20 years of front-line leadership experience across commercial, corporate, strategic, technical and operational engineering environments. He is currently in his second term with Lotus, having rejoined the business from Aston Martin in 2018. Most recently he has served as Director of Corporate Planning at Lotus, and prior to that was Director of Programme Management. Mark was previously employed at Lotus from 2002-2005 as a Senior Project Engineer within the consultancy. The growth and commercial success of Lotus Engineering, which was officially established as a separate business division in 1980, is a key pillar of Vision80, the strategic plan which is guiding the transformation of Lotus as it moves towards its 80th anniversary in 2028. A key element of Lotus Engineering’s strategy is the commercial opportunity presented by Lotus’ four all-new proprietary vehicle architectures. Three of these are dedicated purely to EVs – the Hypercar, Premium and Sports Car architectures – while the fourth provides the basis for the critically acclaimed Lotus Emira. In addition, the innovative and lightweight bonded extruded aluminium ‘legacy’ platform, on which the Elise, Exige and Evora were built, is also available. Priorities for Mark and his experienced team include using all architectures to grow the whole-vehicle engineering business, while also creating a fresh focus on deploying advanced technologies in design and concept engineering, control systems, product attributes and propulsion across multiple mobility sectors. Mark explained: “As the automotive industry shifts its focus to the opportunities and challenges of an all-electric future, Lotus Engineering is perfectly placed to capitalise on more than four decades of experience and success. Using our three new full EV platforms, plus the Emira and legacy architectures, we can enable businesses to realise their product aspirations through an accelerated timescale and with reduced investment. From design and concept engineering to full-scale industrialisation, attribute development and even manufacturing, our broad range of services mean we can support customers through the entire product development process and beyond.” He added: “We’re also driving innovation in other fields where our design, engineering and manufacturing expertise can be applied and add value. A great example is in our high-profile collaboration on an innovative new track bike that led British Cycling to seven medals at last summer’s Tokyo Olympics.” Lotus Engineering is today headquartered at the Lotus Advanced Technology Centre (LATC), part of the Wellesbourne Campus of the University of Warwick. From this base it supports customers by accessing Lotus’ hugely capable global team and state-of-the-art facilities across the UK, Europe and China. Consultancy work has always been part of the Lotus business and started when company founder Colin Chapman was hired to develop the 1956 F1 Championship-winning Vanwall race car. More recently it was at the forefront of work on commercial EVs, developing and manufacturing the 2008 Tesla Roadster, the world’s first production electric sports car. Much of the work of Lotus Engineering remains confidential, though low-carbon powertrain projects in the public arena include work on the Rolls-Royce 102EX feasibility study, the hydrogen fuel cell taxi for LTI (now renamed LEVC and, like Lotus, part of the Geely group of companies), and the Dodge Circuit EV sports car. Lotus Engineering’s best-known projects include work on the Lotus Cortina (1963), Chrysler/Talbot Sunbeam-Lotus (1979), Lotus Carlton (1990), the Type 108 Lotus track bike (1992), Vauxhall VX220/Opel Speedster (2000), the Aston Martin Vanquish (2001), and the Tesla Roadster (2008). For more information on visit www.lotusengineering.com
One of Greater Anglia’s new intercity trains at Diss station Pic credit: Greater Anglia/Nick Strugnell Rail passengers are reminded that Greater Anglia is introducing its new summer timetable on Sunday 15 May – so travellers should check before they travel in case their train times have changed. Greater Anglia is adding more seats and more services, including extra trains for holidaymakers travelling to and around the region and some increases to commuter services to match demand. From Sunday 15 May, the timetable, which is scheduled to run until December, will include:
Intercity services between Norwich and London half-hourly all day until 21.00 Monday to Friday when they become hourly, half-hourly until early evening (then hourly) on Saturdays and mainly hourly on Sundays.
Some additional services and some longer trains on services between Ipswich, Colchester, Clacton/Walton, Harwich, Braintree, Chelmsford, Southend Victoria, Southminster and London Liverpool Street, including in the evening rush hour.
More new and longer trains on routes between Cambridge, Bishop’s Stortford and London Liverpool Street and on the Hertford East line once platform lengthening works are complete later this year.
Stansted Express services between Stansted Airport and London Liverpool Street will be mostly half-hourly, with some extra trains at busier times.
Rural services between Norwich and Lowestoft, Cambridge/Stansted Airport, Sheringham, and Great Yarmouth; between Ipswich and Cambridge, Felixstowe, Lowestoft and Peterborough; and between Marks Tey and Sudbury will continue with the usual service.
Extra summer services will run between Norwich and Great Yarmouth on Saturdays from 21 May to 10 September, and on Mondays and Fridays from 18 July to 2 September, providing over 66,000 extra seats for holiday-makers over the peak summer period. There will also be additional early Sunday services between Ipswich and Peterborough, departing Ipswich at 07.55 and returning from Peterborough at 09.50, from 15 May to 11 September. Greater Anglia has been closely monitoring passenger numbers in order to match services provided to demand for them. Passenger numbers are still lower than pre-pandemic levels, at around 77 per cent of 2019 levels across the Greater Anglia network overall, but falling to around 60 per cent for commuting to London. Jamie Burles, Greater Anglia managing director, said: “We’re making a number of service improvements in our May timetable changes. “We’ve been monitoring our passenger numbers and listening to customer feedback, so we’re increasing services or running longer trains where possible and appropriate – building on our actions over recent months, where we’ve been adding extra capacity in line with increasing demand. “The pandemic has changed our railway. We have a different contract with the Government which is wholly funding us. It’s important that we provide the best possible service to our customers and also value for money for taxpayers. “Over the coming months, we’ll see even more of our new longer trains with all mod cons replace our older trains on commuting routes into London, which will lead to more seats available for our customers and a much-improved travelling experience. “New trains already in place on our Intercity, Stansted Express and regional services have markedly improved service standards on those routes – including helping us to achieve record-breaking punctuality. “We’ll continue to monitor passenger numbers and make further adjustments as necessary, always seeking to run a very good service and to encourage more customers to take the train.”
Funding is available to small/medium-sized enterprises in Norfolk and Suffolk called Pathways 50+. This is an initiative funded by ESF (European Social Fund) and supported by Norfolk and Suffolk County Councils. Futures for Business is delighted to administer this on their behalf to organisations in either Norfolk or Suffolk who fulfill the necessary eligibility criteria of an SME (Small to Medium-sized Enterprise) SME Eligibility
Micro – Headcount fewer than 10, turnover and balance sheet ≤ €2million
Small – Headcount between 10 and 50, turnover and balance sheet ≤ €10million
Medium – Headcount between 50 and 250, turnover ≤ €50million, and balance sheet ≤ €43million
Pathways 50+ provides a grant to the organisation worth £1,950 to support the recruitment of a person aged over 50. The paid placement must run for at least 13 weeks, consist of a minimum of 25 hours per week, and pay at least the national living wage (recently increased to £9.50 per hour). Eligible employees must be aged at least 50, live in Norfolk or Suffolk, and have been resident in the EU for at least 3 years. The Pathways contract also enables us to promote your vacancy on behalf of your business. We can share details with the National Careers Service, also through the various other contracts delivered by Futures including JETS, we are very happy to post vacancies on Indeed too. If you are interested in taking advantage of the Pathways 50+ funding, please contact Angela Carpenter from Futures for Business – angela.carpenter@futuresforbusiness.com Images provided by Futures
New Anglia Pathways 50+ is part-funded by the European Union through the European Social Fund (ESF).
The project has received £501,043,23 of funding from the European Social Fund as part of the 2014-2020 European Structural and Investment Funds Growth Programme in England. The Department for Work and Pensions (and in London the intermediate body Greater London Authority) is the Managing Authority for the England European Social Fund programme. Established by the European Union, the European Social Fund helps local areas stimulate their economic development by investing in projects which will support skills development, employment and job creation, social inclusion and local community regenerations. For more information visit www.gov.uk/european-growth-funding.
Do you live in or within a few miles of Happisburgh or Reepham? Join the dialogue to shape the Community Benefit Fund – this week!Reepham, Cawston, Great Witchingham, Oulton & IngworthHappisburgh, Witton & Ridlington, East Ruston, Lessingham, Walcott & Honing Don’t miss this chance to help shape the £15 million Norfolk Zone Community Benefit Fund at an early stage, and discuss the ways in which it might work best for your community. This week we’ll be focusing on the communities in and around Reepham on Wednesday 11th May and Happisburgh on Thursday 12th May. Attendees are welcome to participate in person or via online meeting links. Full details and registration links can be found below. If you aren’t based in or near these areas, please don’t worry, you’ll get your chance to contribute to the discussion in the coming months. These are just two of a series of localised meetings and we’ll be arranging more of them in due course. If you’d like to get involved in helping us with that, please feel free to drop us a note. We’d love to hear from you. If you have any questions about the events please contact us directly using the email address: info@norfolkvanguard.co.uk
Article Content: Cyber training is a powerful tool available to all organisations. When building cyber security defences it’s important to ensure that one of your greatest protective assets, your people, are invested in and able to do everything possible to protect valuable data, information and systems from the wide range of threats posed by cyber criminals. Unfortunately no organisation is safe from these threats, no matter what size your operation is, or the industry you are in, cyber criminals will be seeking ways to get in to your systems and cause damage. We see so often that this route in is via staff. We’ve put this video together to explain the range of things that can happen in any organisation, all of which can lead to the need for cyber training. Staff at all levels will benefit, and we see first-hand just how much of an impact training has. We don’t want to spoil it for you…so why not take a couple of minutes out to have a watch, and if you like it make sure you share it with your colleagues and contacts! Don’t just take our word for it though…there are lots of stats out there about how organisations need to invest more in staff training, the latest Cyber Security Breaches Survey highlights how little training is taking place – if you want to better protect your organisation talk to us today.
Buy To Let: Company or Personal?Deciding on the right set-up for you Buy to let properties can be purchased and managed as an individual or through a limited company, with each option having its own implications for tax purposes. If the intention is to rent out one or two properties, setting up a limited company is unlikely to be the right route. However, if a property portfolio is to be built up, then it may well be beneficial to create a limited company from the outset. Buying a property through a company is becoming an increasingly popular choice for investors. According to Companies House data, a record 47,400 new UK buy to let companies were incorporated in 2021. Company ownership Buying rental properties through a limited company offers full tax relief on finance costs such as mortgage interest and mortgage arrangement fees, access to potentially lower tax rates and flexibility for planning, including for inheritance tax. Mortgage interest relief Limited companies can offset all their mortgage interest, and other finance costs such as mortgage arrangement fees, against profits from their rental income before paying corporation tax. This means that while individual landlords are effectively taxed on turnover, corporate landlords are taxed on profit. Corporation tax Rental profits, after deducting finance costs such as mortgage interest, are currently subject to corporation tax at 19%. Small companies with profits of £50,000 or less will continue to pay tax at 19% from April 2023. The main rate of corporation tax is rising to 25% from April 2023 where taxable profits are £250,000 or more. For companies with profits between £50,000 and £250,000 they will have a marginal rate of 26.5% on excess profits over £50,000. Taking an income As the company owns the property, the rental profits belong to the company. To access the rental income for personal use, a form of remuneration needs to be paid, which gives rise to a second tax charge. There are various options such as salary, dividends, provision of assets such as company cars or pension contributions. Each comes with tax consequences, and the best route will depend on personal circumstances. Building a portfolio If the aim is to invest in several buy to let properties and there is no need to draw much, or any, income from the rent, the company structure could be an attractive option. Family planning A company can be a useful structure for those looking to pass on their property portfolio to family. It is typically more straightforward and cost effective to transfer company shares to family members compared to properties, or proportionate interests in a property. Personal ownershipFor buy to let landlords looking to use their rent as a form of income to live on, purchasing as an individual may prove to be the more tax efficient solution.Mortgage interest relief From 2020/21, landlords were no longer able to deduct finance costs, including mortgage interest, from their property income; instead they receive a basic rate tax reduction to their income tax liability. As well as restricting tax relief to basic rate (20%), the measure has the effect of increasing taxable income and can result in the landlord becoming a higher-rate taxpayer and may affect certain benefit entitlements such as child benefit. Income tax Landlords are liable to income tax on rental income. The rental income will be added to the landlord’s other income to determine the tax band. Capital Gains Tax Capital gains on residential property are subject to CGT at 18%, where the gain falls within the basic rate band and 28% where the gain falls into higher rates. HMRC require online reporting and payment of CGT on the disposal of UK residential property within 60 days of completion. Taking an income If the landlord wants to take a regular income from the buy to let properties, then investing as an individual is more likely to be tax efficient. Preferable mortgage rates Personal ownership typically attracts preferable mortgage rates and lower fees than through a limited company. Arrangement fees, which can either be paid up front or added to the mortgage, also tend to be lower when buying as an individual. Seek advice from your mortgage broker. How we can help This is an overview of the key differences between owning a buy to let property through a limited company and as an individual – there are many variables that will influence your decision, and it can be helpful to seek professional advice when it comes to assessing your own circumstances and tax position. For more details, get in touch with Sam Holloway at M+A Partners on sam.holloway@mapartners.co.uk. You can view this original article here
One of the main questions we have from clients when they run limited companies is around directors’ loan accounts. How they work and what they are. To understand directors’ loan accounts, the key thing to remember is a company is its own separate legal entity and any profits generated by the company belong to the company (not the director). Every transaction between a director and the company is between two separate “persons”. This is completely different to a business run as a sole trader. When money is taken out of a limited company, therefore, it has to be accounted for within the accounts according to what it is. For example:
If a salary, it needs to go through the payroll;
If a reimbursement for business expenses, the director needs receipts as evidence;
If a dividend (where the director is also a shareholder) the relevant legal dividend paperwork needs to be drawn up and signed at the time;
It could be rent, if the director owns the trading property; or
A loan to and from the limited company (this is the directors’ loan account).
Each type of payment has its own tax consequences. How a directors’ loan account works The directors’ loan account keeps a tally of the money a director has lent the company, less monies he/she has taken out (which have not been accounted for elsewhere as salary, dividend, rent etc). This running total starts from the first transaction the director has with the company. If, for example, a dividend or a salary is declared correctly, but not taken out in full by the director, this is also shown as monies lent to the company and added to the directors’ loan account. If the directors’ loan account goes overdrawn (ie more money is taken out of the company by the director then owed to him/her), this can have tax consequences for the director and the company. Tax advice should be sought asap by the company to minimise the effect of this by careful tax planning. Therefore, regular conversations with an accountant are vital to ensure there is a plan on how money is taken out of the company by the directors. Key considerations include, making sure it is structured tax efficiently and takes into account the dynamics and wishes of the director group. If you have any queries and would like to discuss further, do contact your normal M+A Partners contact or Mary-Anne Sargeant on 07917 530018 or email mary-anne.sargeant@mapartners.co.uk. You can view this original article here
Welcome to the first episode this new podcast series! This week, James & Mark examine our own perceptions of why things happen in our lives, whether we think we can control them, and how it informs our behaviour. With a focus on the well-known psychological theory ‘Locus of Control’ Content: Welcome to the first episode this new podcast series, sponsored by Larking Gowen. There will be three different episode styles in this new series, expert guest interviews, special bitesize gems, and these deep dive episodes. James and Mark will be ‘deep diving’ into a specific topic each week. If you were a listener of Impromptu Business Chat, you’ll be familiar with their casual, fun and informative discussions. Now they’ll be focusing on how listeners can further put the advice and themes they explore into action. This week, they examine our own perceptions of why things happen in our lives, whether we think we can control them, and how it informs our behaviour. With a focus on the well-known psychological theory ‘Locus of Control’ they discuss the importance of learning to focus on what we can influence, and not what we can’t, like the weather! They look at our power of embracing failure, monitoring our own language and how to spot our own personal triggers ahead of time. Are you a victim, or do you take responsibility? Developing our own locus of control can help build stronger relationships, be that with our families, customers or our teams. How you cope in times of stress can have a huge impact on your overall wellbeing, so let’s see how you can find the power to take control and create positive change… To listen to the podcast, see the show notes and contact us, please click on the Listen here link below. Listen here!
Attleborough based renewable heating expert Finn Geotherm, has been shortlisted in this year’s National ACR & Heat Pump Awards. These prestigious trade awards celebrate the highest achievements across the UK’s heating, ventilation and air conditioning sector. Finn Geotherm is a finalist in the Heat Pump Installer of the Year category. Established in 2006, the company has always focused solely on heat pumps, having completed more than 1,000 installations date in a vast range of buildings from care homes and universities to stately homes and bungalows. Guy Ransom, commercial director at Finn Geotherm, said: “We are delighted to be nominated in the National ACR & Heat Pump Awards, which recognise the country’s best companies and projects in the HVAC sector. We have an excellent team and to be shortlisted in these prestigious awards is testament to the hard work, passion and dedication of everyone here at Finn Geotherm.” Winners will be announced in June. For more information on ground and air source heat pumps and details on Finn Geotherm, visit www.finn-geotherm.co.uk.