This last newsletter of 2006 is full of news items from unw and the industry at large, announcements about forthcoming events, plus a couple of light hearted articles that we hope you will enjoy reading. It has been a busy year here at unw and we have welcomed many new members to the team who all join together to wish you the compliments of the season and a happy, healthy and prosperous New Year.
Latest News
How Time Flies!
As the year draws to a close, it's generally a time for reflection and an opportunity to look back over the last year.
CHARITY NEWS
From our own experience of advising and assisting a wide range of charitable organisations we know that the challenges facing charities are every bit as demanding as those encountered in business.
SFI CHANGES ON THE WAY!
Businesses in the region with expansion plans are eagerly waiting to see what changes to Government funding come into force on 1 January 2007.
NEW CREW MEMBERS AT UNW
As the end of 2006 approaches, unw is welcoming a number of new arrivals including their brand new liveried taxi.
"Telling Tales" - A day in the life of unw's taxi
I'm a London Hackney Cab. The name's Terence, after Terence Stamp. I knew him when he was best mates with Michael Caine - not a lot of people know that - but everyone calls me Tel, for short.
Christmas Networking - Bah Humbug!
The Yuletide season is nigh, the nine ladies are dancing, the six geese are a- laying, and one appears to be spending the seven days a-drinking.
Industry News
Preserving the Inheritance
In recent months, appeals have come from both ends of the political spectrum for an abolition of inheritance tax (IHT) or, at least, some exemption or relief for a person's main residence.
Minimum wage - Maximum debate
New National Minimum Wage (NMW) rates took effect from 1 October 2006 and, as is inevitable, this triggered renewed debate about their impact. Both the Forum of Private Business and the CBI are concerned about movements above the rate of increase in earnings and, perhaps in response, the government has asked the Low Pay Commission to consider the impact of the NMW on small business in the future.
Construction Industry countdown
The new Construction Industry Scheme (CIS) will finally start on 6 April 2007. HMRC are anxious to ensure that contractors are ready and various mailings have been sent out, with more to follow!
Basic errors in VAT
Many registered businesses assume that they have a clean bill of health when it comes to VAT compliance.
unw Events
CURRENT ISSUES FOR CHARITIES: TAX EFFECTIVE GIVING
- Date:
- Wednesday 7 February 2007
- Location:
- The Boardroom, unw, Citygate, St James Boulevard,
Newcastle upon Tyne
- Date:
- Tuesday 27 February 2007
- Location:
- The Boardroom, unw, Citygate, St James' Boulevard,
Newcastle upon Tyne
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We welcome your comments or suggestions for future news items in News that Counts.
unw chartered accountants, Citygate, Newcastle upon Tyne.
Tel 0191 243 6000.
Email: enquiries@unw.co.uk
Deal Summary
These are some of the deals that unw Corporate Finance Department has been pleased to assist with during 2006
Kelburn Holdings Limited - BIMBO
Announced: 1 February 2006
Management buy-in/buy-out of Kelburn Holdings Ltd, Newcastle-Upon-Tyne, Tyne and Wear, England, a recruitment agency specialising in the professional, managerial and technical fields. Funding in support of the deal was provided by Northern Enterprise and HSBC. The management team was led by Kevin Maughan, Liz Mitchell and Harry Chalmers. Kelburn Holdings incorporates PES Associates, Annabel Staff Bureau, Metro Technical Services, LSS and EEP.
Barry's pub - Due Diligence - Funding
Announced: February 2006
unw's Financial due diligence carried out in respect of the financing by Royal Bank of Scotland in Barry's Pub Company Limited to assist in the expansion of the company.
AAP Metal Fabrications Services - Management Buy Out
Announced: September 2006
unw's Corporate Finance Team assisted AAP Metal Fabrications Services with their management buy out led by Mr P Bradley.
Brett Oils Business Services Limited - SFI and Finance Raising
Announced: 18 October 2006
Finance raising and SFI grant application to raise finance for investment in equipment and leasing a premise.
Degussa Fine Organics - SFI Grant Application
Announced: November 2006
unw's Corporate Finance Team assisted Degussa Fine Organics with their SFI Grant Application to aid investment in a new plant.
Technology Services Group Limited - Acquisition
Financial due diligence and deal structuring advice to assist TSG with the acquisition of various software resellers
BHG (North East) Limited, acquired Fossway Builders Merchants Limited
BHG is owned by Anne Ganley, a current shareholder of A Thompson and Sons Limited. unw advised Anne Ganley on the acquisition.