Key points affecting small and medium-sized firms and the self-employed include:

Investment and productivity

·         A £400 million Digital Infrastructure Investment Fund will launch in spring 2017 to accelerate the deployment of full-fibre broadband networks.

·         The National Productivity Investment Fund (NPIF) will invest £740 million in digital infrastructure by 2020/21.

·         The NPIF will provide £250 million of investment to support the development of highly skilled research talent.

·         A further £40 million will be made available to test different approaches to help people to retrain and upskill through their working lives, while a £5 million fund will support people who have taken career breaks back into work.

Business growth and support

·         A new £270 million Industrial Strategy Challenge Fund will support the development of disruptive technologies, particularly robots, driverless cars and biotechnology.

·         Further details of the Midlands Engine Strategy and measures to support the development of the Northern Powerhouse are to be published shortly.

·         The Government will make changes to the Research and Development Expenditure Credit to increase the certainty and simplicity around claims, and will take action to improve awareness of R&D tax credits among small firms.

·         A review will explore access to long-term capital for high-growth firms, as well as the effectiveness of existing tax reliefs aimed at encouraging investment and entrepreneurship.

Taxation

·         From April 2018, Class 2 National Insurance contributions will be abolished. The main rate of Class 4 National Insurance contributions for the self-employed will increase from 9% to 10% from April 2018, and to 11% from April 2019.

·         From April 2018, the dividend allowance will be reduced from £5,000 to £2,000.

·         As announced in the 2016 Budget, the main rate of corporation tax will be reduced to 19% in 2017 and to 17% in 2020.

·         Small businesses and landlords with a turnover below the VAT threshold will have until April 2019 before the requirements of Making Tax Digital are mandatory.

·         The turnover threshold for which co-operatives are required to carry out a full audit will increase from £5.6 million to £10.2 million, and the assets threshold from £2.8 million to £5.1 million.

·         The Government will consult on changes to benefits in kind for employees and employee expenses.

Business rates

·         From 1 April 2017, transitional relief for small businesses losing Small Business Rate Relief will be introduced, meaning their business rates bill will not increase by more than £50 per month.

·         Pubs in England with a rateable value of up to £100,000 will receive a £1,000 business rates discount from 1 April 2017.

·         A new £300 million discretionary relief fund will be set up to support businesses affected by the revaluation of commercial properties.

Consumer law

·         The Government will bring forward a Green Paper to examine the markets that are not working effectively or fairly for consumers.

·         Consumer enforcement bodies will be granted the power to ask courts to order civil fines against traders that break consumer law.

·         The Green Paper will explore how to make terms and conditions clearer, simpler and shorter for consumers.

The Chancellor's speech in full and the Spring Budget documents are available here:
https://www.gov.uk/government/publications/spring-budget-2017-documents

To read the Federation of Small Businesses' reaction, go to:
http://www.fsb.org.uk/media-centre/press-releases/immediate-budget-reaction-from-fsb

To read the British Chambers of Commerce's reaction, go to:
http://www.britishchambers.org.uk/press-office/press-releases/british-chambers-of-commerce-full-reaction-to-spring-budget-2017.html

To read the reaction of IPSE (the Association of Independent Professionals and the Self-Employed), go to:
https://www.ipse.co.uk/news/self-employed-hit-hard-budget-tax-rises

Exciting New Business Show launched for local businesses…

A great opportunity is coming to West Sussex in the form of a new business to business exhibition, to benefit small and medium sized businesses.

The inaugural West Sussex Business Expo is being organised by Mike Monk from Monk Marketing who recently partnered with the Basingstoke based events firm, Memo Events, who founded the nationwide network of business expos back in 2011.

The event will feature a packed exhibition hall with over 70 stands, Network Fontwell Breakfast meeting, Keynote speakers, Free seminars, and endless Networking Opportunities.

Event Organiser and local entrepreneur, Mike Monk ran the successful Brighton Expo last October and has decided to launch the Expo in West Sussex as he feels there is a requirement for this type of event in the area.

The premier business show, which will take place on May 25^th at Fontwell Park Racecourse, will benefit all types of businesses in the region and local firms are encouraged to get involved. We are delighted to be involved as a partner of this exhibition. Chamber members are being offered an exclusive 10% early booking rate on stands. If you would like to find out more about the event please visit www.b2bexpos.co.uk/westsussex  or call 01273 286133.  It’s going to be an unmissable event for local businesses, so don’t leave it too long to book your stand or get the date in your diary – we’ll see you there!

Take off 2017 - Growing your business abroad

Gatwick Airport has once again teamed up with the Department for International Trade’s Exporting is GREAT campaign to bring you TAKE OFF 2017: Growing Your Business Abroad. Taking place at Gatwick on the morning of 30 March 2017 the event will bring together a host of established exporters, government figures and support organisations to provide a mixture of practical advice and inspiration, covering the following topics:
 
1. Brand Britain: Harnessing the UK’s reputation to grow your business 

2. Taking off: Overcoming the barriers to first-time exports 

3. Scaling up: Growing your export programme 

4. Ecommerce: Navigating technology to reach new markets 

5. USA: How to break into the market

 
Hosted by Michael Hayman MBE, co-founder of PR firm Seven Hills and co-author of Mission: How the Best in Business Break Through, delegates will enjoy a series of fast-paced speeches and interactive panel discussions as well as superb networking opportunities.
 
Confirmed Speakers Include:  Michael Hayman MBE, Co-founder of Seven Hills, author of  Mission: How the Best in Business Break Through   Guy Stephenson, Chief Commercial Officer, Gatwick Airport.   Will King, Founder of King of Shaves  Carrie Bates, Founder of the Little Coffee Bag Company  Tamara Roberts, Chief Executive of Ridgeview Wines  Eva Gustavsson, Director Government Relations, PayPal  Judith McElhinney, Senior e-Commerce advisor, Department for International Trade  David Budd, Partnerships Manager at Funding Circle  Matt Wood, VP Network, Norwegian Airlines  Lesley Batchelor OBE, Institute of Export
 
Who should attend? The event is targeted at small and medium sized business owners and executives from London and the South East and anyone looking to expand their business to overseas markets. 
 
REGISTER FOR A FREE PLACE AT: TAKEOFF2017 eventbrite.co.uk 

Adur & Worthing Business Awards 2017 - ‘The awards organised by businesses for the businesses’ 

The new organising committee of the Adur & Worthing Business Awards are delighted to confirm that the awards will now be independently run and organised under the umbrella of the Adur & Worthing Business Partnership (AWBP) as a ‘Not-for-Profit’ business model.  James Stoner, a member of the existing committee and category sponsor recently commented “Going forward the awards are to be organised by the businesses for the businesses and by working together with the AWBP, we look forward to the continued success of one of the most prestigious events in the local business calendar”.

The AWBP plays a pivotal role as an independent partnership working on behalf of the Adur and Worthing business community and Adur and Worthing Councils.  The AWBP is seen as the ideal vehicle to take the Adur & Worthing Business Awards forward, securing the longevity and the future success of the event.  Peter Webb MBE a member of the AWBP commented, “In recent years the Business Awards have gone from strength to strength and looking ahead, our main priority is to continue this momentum.  I believe now it is the right time to move the awards forward and develop a not-for-profit model under the stewardship of the AWBP”

Now in its 10th year, the organising committee are proud to announce the launch of The Adur & Worthing Business Awards 2017. The awards continue to grow and establish a solid reputation within the local business community and serve to showcase and celebrate the excellent business people and organisations we have here in the Adur & Worthing district.

Businesses are invited to enter these awards which offer sixteen separate categories, all designed to recognise successes and achievements across various industries.  The judging panel will be led by a number of local business figures, representatives from Worthing & Adur Chamber of Commerce and Adur & Worthing Council who themselves, bring a wealth of industry knowledge to the awards.

To get the Awards off to a flying start, please join us at the official launch which will run in conjunction with Worthing and Adur Chamber of Commerce - Chamber Chat event.  Hear more about how you can get involved in one of the biggest business events in the area by joining us for drinks, light bites and networking from 5.30pm on Wednesday 7th June at Worthing Pier, Southern Pavilion.

You will hear about new sponsor, award categories,  our chosen charity for this year and how to enter. Sponsors and previous winners will be on hand to tell you about how getting involved benefits both your business and your team and of course there will be lots of networking opportunities too!

Full details on the categories available and how to enter the awards can be found on the new Adur & Worthing Business Awards website www.awbawards.com which is now live.  The winners will be announced at a glittering black tie awards ceremony to be held at The Pavilion, Worthing on Friday 10th November 2017.  Please keep visiting the website for more information and regular news updates. 

For all enquiries about this event please enquires@awbawards.com

Ex-editor bounces back as council PR chief for former patch

A former regional daily editor is taking up a new job as a PR chief for two councils on his former patch.

Mike Gilson, left, has been appointed head of communications at Adur & Worthing Councils, in Sussex, after impressing the authorities’ chiefs with his “significant” newsroom experience.

Mike left Brighton-based daily The Argus, whose patch includes the Adur and Worthing areas, in December after two years at the helm.

His new role will see him take responsibility for communications at the councils, which have operated together under a joint management structure since 2008.

Alex Bailey, chief executive officer for Adur & Worthing Councils, said: “After a highly competitive recruitment process, I’m very pleased to be welcoming Mike to the Councils at a key point in our development.

“Mike’s significant experience running busy newsrooms will be invaluable in telling the stories of the communities within Adur and Worthing, and the Councils’ place within those narratives.

“We have set ourselves a significant agenda for the next three years and great communications will be at the heart of how we inspire conversations and actions on important issues throughout Adur and Worthing, and beyond.”

Mike will begin his new job on 27 March.

Before joining the Argus in 2014, he edited the Belfast Telegraph for five years, during which time it won the UK Regional Newspaper of the Year award in 2011, and he has also edited three Johnston Press owned titles – The Scotsman, The News, Portsmouth and the Peterborough Telegraph.

Mike was replaced at The Argus by Lucy Pearce, who herself quit just weeks into the job to move to the role of communications and engagement manager with financial services giant Legal and General.

Arron Hendy has since taken up the Newsquest-owned newspaper’s editorship.

More at: http://www.holdthefrontpage.co.uk/2017/news/ex-regional-daily-editor-takes-up-new-role-as-councils-pr-chief/

Spring Budget Summary from MHA Carpenter Box

The top seven implications of the Spring Budget for SMEs by Kreston Reeves

To help understand the first Budget from Chancellor Philip Hammond, Laurence Parry, Tax Partner, detailed the seven key implications small and medium sized businesses should know below:

Apprenticeship levy

The largest single change affecting businesses from 5 April has already been announced. The new apprenticeship levy will be charged on firms with total annual payroll in excess of £3 million. In fact those not obliged to pay this new levy are the ones most likely to benefit by achieving a reduction in their training costs. The Government has pledged to pay 90% of apprenticeship costs for small businesses.

Business Rates

Rate relief will be 100% from April 2017 based on a rateable value of up to £12,000, tapering to £15,000. This will benefit those where property values have risen the most. However, the overall revenue take of the latest revaluation, which is based on 2015 property values, is not altered, meaning some will still face significant rises, mainly in London and the South-East. A review of Business Rates is promised to level the playing field with digital commerce, which largely avoids it.

In addition, there will be a discount for pubs, caps for those moving out of Small Business Rate Exemption and a discretionary fund for local authorities to apply.

Digital tax

The Making Tax Digital start date for businesses with a turnover below the VAT threshold has been delayed. Those with turnover between £10,000 and £83,000 (the current VAT threshold) will now not be required to report digitally until 6 April 2019. This will be welcome news to smaller businesses, the self-employed and landlords.

Education

Increased technical training will be welcomed by business. However, one of the throwaway comments in the Budget speech was for a compulsory three month ‘quality’ secondment – this will have a cost effect on business. Questions remain: Will businesses be able to use the apprenticeship levy to cover these costs? Is there capacity for businesses to take on 630,000 students (of level 2 and above) each year?

Allowances

The new dividend tax-free allowance of £5,000 is to be reduced to £2,000 from 6 April 2018. The personal allowance is to be increased by more than inflation increasing it by £500 to £11,500

Avoidance

Personal service companies supplying those in the Public Sector (technically those entities covered by the Freedom of Information Act 2000) – which includes the BBC, Transport for London, or even your local dentist – will have potentially increased costs from 5 April. The Government has widened the hybrid rules to limit perceived tax avoidance by multinationals.

Consultations and imminent changes

Some thirty future changes were listed as proposed or to be consulted on. Some of these may well have significant effect, such as changes to the taxation of partnerships and valuation of benefits. Important changes already announced and due in force imminently include: abolition of salary sacrifice arrangements; penalties for enablers of tax avoidance arrangements; restriction of interest relief – potentially applicable where group interest charge is over £2 million pa; more flexibility on use of losses brought forward within companies.

Click here to read more from Kreston Reeves

The top five personal finance implications from the Spring Budget by Kreston Reeves

To help understand the first Budget from Chancellor Philip Hammond, Bryan Elkins, Partner and Head of Taxation details the five key implications for personal finances.

National insurance changes

National Insurance contributions (NIC) for the self-employed are set to increase with Class 4 NIC rising from 9% in 2017/18 to 10% in 2018/19 and to 11% a year later. Although Class 2 NIC will be abolished from 2018/19 this will only save £146 per year. Self-employed individuals with profits of £40,000 will be paying an additional £319 of Class 4 NIC in 2018/19 and £638 in 2019/20.

Childcare

A new tax-free childcare scheme giving a contribution of up to £2,000 per child (up to the age of 12) towards childcare costs was confirmed. The scheme gives basic rate tax relief on payments made into an on-line account. For every £800 paid in by claimants the government will add a further £200 up to a maximum of £2,000 per child.

The scheme is open to all working parents except where one earns more than £100,000. In addition, free childcare for three and four year olds will be extended to 30 hours per week with effect from September.

Social Care & NHS

An additional £2 billion will be made available to Local Authorities (of which half will be in 2017/18 year) to fund care packages and care services. In addition, targeted measures will be introduced to assist those authorities facing the greatest challenge. The objective is to facilitate transfer from hospitals to social care services to free up much needed hospital beds. A further £100 million will go to the NHS to invest in A&E departments to fund more on-site GP triage facilities.

Allowances

The new dividend tax-free allowance of £5,000 is to be reduced to £2,000 from 6 April 2018. The personal allowance is to be increased by more than inflation, increasing it by £500 to £11,500.

Education

The government confirmed it will invest £320m to help fund 140 free schools in addition to the 500 previously announced. 30 of these schools will open by September 2020. In addition, a new T Level will focus on technical qualifications, replacing some 13,000 vocational qualifications with a system graded like A levels.

Click here to read more from Kreston Reeves

Sir Robert Woodard Academy Annual Dance Showcase