You can have your pension cake, but beware, the taxman might eat it!

From paying off a foreign mortgage to making property improvements, the use of funds ‘liberated’ in the first month of ‘pension freedom’ have been wide ranging, according to South Coast and Gatwick-based independent financial advisers, Carpenter Box Wealth Management.

While the new regulations dramatically increase the financial options of many pension-holders over the age of 55, the message from Roy Thompson, Associate at Carpenter Box Wealth Management, is ‘you can have your pension cake…but beware, the taxman might eat it!’

This is because whilst 25% of such a big lump sum may be tax-free, the rest could attract a tax charge of 45%, depending on the amounts involved, because it will be treated as income.

Says Roy: “Over the last month, a number of clients have been investigating withdrawing money from their pension, for example to pay off a mortgage on a foreign property or to carry out improvements on a property. In each case, the level of tax to be paid has come as a real shock to the individual involved so, yes, you can have your money, but it comes at a price.” 

Situations have also arisen where a pension scheme will not allow withdrawals to be made and the fund has had to be transferred to another pension provider who will allow withdrawals – typically, this incurs additional costs.

Add in new pension death benefit rules and it’s clear that specialist advice is needed – so Carpenter Box Wealth Management is running further free breakfast briefings at both its Worthing office on 19 May and 18 June and two sessions at its new Gatwick offices on 9 June and 14 July. More information via http://carpenterbox.com/event-pensions/ or from Lucy Tunstall at Carpenter Box on 01903 234094.   

Have your say on the future of Shoreham’s flood defences

A second public consultation examining options to protect Shoreham and the south coast from flooding is due to take place for four weeks from May 11th 2015.

Following on from the initial consultation that took place in late 2014, the local community are being invited back to see the second draft of flood defence guidance. One of the key areas identified by the Shoreham Harbour Joint Area Action Plan (JAAP) as needing defence reinforcements is the Western Harbour Arm, which runs from Adur Ferry Bridge to Kingston Beach, to guard against future risks posed by climate change, rising sea levels and worsening coastal weather.

Specialist flood prevention consultants JBA Consulting & Baca Architects, working with the Shoreham Harbour Regeneration Partnership, have created the proposals set out in the final draft flood risk management documents (officially known as the Flood Risk Management Guide Supplementary Planning Document).  These proposals are distinct from the Adur Tidal Walls project which covers the western bank of the River Adur and the eastern bank from the Adur Ferry Bridge northwards. 

Scott Marshall, Director for the Economy at Adur & Worthing Councils, says
“It is really important for us to get the public’s opinions on the future flood defences for the Shoreham community. We want to reduce the risk of flooding and water damage for residents, businesses and organisations right along the south coast; reinforcing the Shoreham flood defences now means we can reduce these risks for many years to come and protect our communities for generations.”

Integral to the revised plans are new areas for the public to enjoy the river from, with a cycle route and walk way incorporated into the design. The plans will be available for public scrutiny from Monday 11th May 2015 - either through the Councils’ website (http://www.adur-worthing.gov.uk/shoreham-harbour-regeneration/consultation/ ) or in person at any one of the following points:

 

* Adur Civic Centre (Shoreham-by-Sea) 

* Bartholomew House (Brighton) 

* Hove Town Hall 

* Portland House (Worthing) 

* Shoreham Library 

* Southwick Library 

* Portslade Library 

* Hove Library

Once the consultation is completed, feedback will be considered by the Councils and their specialist advisors before final decisions are made.

Congratulations to Peter Webb of Worthing based Electronic Temperature Instruments on winning  Director of the Year – Small Company  at the recent London and the South East Director of the Year awards.

London and the South East Director of the Year Awards

Winners Announced

The winners of the 2014 London and the South East Director of the Year Awards were announced, on the evening of 22nd April, at a Gala Awards Dinner held in the impressive Nash Room at the Institute of Directors in Pall Mall, London.

Over 200 finalists and guests attended the sell-out evening where Jeremy Vine gave a thoroughly entertaining update on the election and politics right now followed by some hilarious real life stories drawn from his radio programme.  He closed by congratulating the finalists and all the other business leaders and past winners in the room – as it was their  collective drive and leadership that would be so important to the future economic prosperity of the UK.

With anticipation mounting, the evening moved on to the introduction of the finalists in each category followed by the announcement of the Winners.

With thanks our panel of fifteen Judges, and congratulations to all the finalists, the Winners were announced as follows:

Director of the Year - Large Company
Gareth Rogers - St. Mary’s Football Group (Southampton FC)

Director of the Year - Medium Company (Joint Winners)
Jill Whittaker - HIT Training
and
Mark Smith - The Car Finance Company

Director of the Year – Small Company
Peter Webb - Electronic Temperature Instruments Ltd.

Director of the Year International Business
Matt Lumb - Tangle Teazer

Director of the Year - Family Business
Jacqueline O’Donovan - O’Donovan Waste Disposal Ltd.

Director of the Year – Chairman’s Award for Corporate Social Responsibility
James Woollard - Polythene UK Ltd.

Young Director of the Year 
Zoe Powers - GLH Ltd.

Director of the Year – Public and Third Sector
Julie Hopes - Conservation Volunteers

This year’s Winners now go forward to represent London and South East in the UK Director of the Year Finals, taking place in October, when they will be judged against the best from every other part of the UK.

With special thanks to our Headline Sponsors:

 

 

 August sees the arrival of the exciting

StreetVelodrome event launches in Beach House Gardens, Worthing?  

 With that in mind, I am absolutely delighted to share this news release with you, revealing who the event's Gold, Silver and Bronze sponsors are, as well as letting local businesses know that opportunities to book a trade stand for the event are still available.

 We're also seeing lots of interest from individuals registering for the competitive race action ballot - full details in the attached and below.

Withless than 100 days to go, Worthing’s StreetVelodrome event is racing ahead

 All available sponsorship opportunities for Worthing’s inaugural StreetVelodrome event have been enthusiastically taken up by local businesses, as residents’ registration numbers pour in.

 The StreetVelodrome Competition is a radically different, free to attend, event which is being brought to Beach House Grounds on the first weekend of August. Using a pro-grade pop-up track, amateur cyclists will be pitting their pace against professional riders in a national competition which will be televised around the globe.

 For the Worthing competition, six breakaway businesses leapt at the chance to sponsor the event, putting their brand in front of the event’s audience.  They are:

 Gold Sponsors

Bowers & Wilkins Group

Parafix Ltd

 Silver Sponsor

Sussex Transport

 Bronze Sponsors

ETI Ltd

Nuffield Health

Worthing Pier Events Ltd

 Scott Marshall, Director for the Economy at Adur and Worthing Councils, says:

 “Strong support for sponsoring the StreetVelodrome shows how highly anticipated this event is in the town.  

 “Having such immediate interest from the local business community proves that the Council made the right decision to invest in bringing this event to Worthing, supporting the tourist economy and delivering value to the local businesses.”

 The first weekend of August won’t just be about watching riders go head-to-head around the banked track in two thrilling  days of displays of sporting prowess - local businesses are also being invited to bring their trade stands to the event.  Costing just £75 per pitch per day, these trade stands will give businesses an unrivalled opportunity to get in with the crowds and competitors.  For more information, interested entrepreneurs should email info@bairdevents.co.uk.

 Local residents and visitors who want to get onto the track can come along on the Saturday where there will be plenty of opportunity to get in line for one of the ‘have a go’ sessions for free.

 Carl Thompson, Series Director for StreetVelodrome, says:

 “80 amateur riders have now entered the free registration ballot for race entries at Round 5 of StreetVelodrome Series to be held in Worthing. From those entering the ballot a lucky few will win guaranteed race entries.

 “The take-up has been absolutely astounding - I don’t think that we’ve ever booked up so many of our race entries so fast!

 “The weekend is shaping up to have something for everyone - whether competing or not - and I can’t wait to see who from Worthing and the surrounding areas makes it to our Grand Final in London at the end of August.”

 Entries into the race registration ballot are currently being accepted through the StreetVelodrome website -

http://www.streetvelodrome.co.uk/.  The weekend is free to attend and will give visitors plenty of opportunities to experience other attractions, see circus workshops or simply have a bite to eat or a drink at the pop up bar whilst the action takes place.

 

 

Increased investment interest in Worthing results in Teville Gate agreement for sale.

 New homes, new businesses and investment in key gateway site - the news of Teville Gate’s agreement for sale could not have come at a better time for Worthing as the town sees a surge in growth and investment interest. 

 While full details of any scheme for Teville Gate will be subject to a full and rigorous public consultation process, early indications are that the developers, purchasing the site from the Official Receiver, are seeking a mixed use development incorporating residential units above a wide range of commercial uses.  

Scott Marshall, Director for the Economy at Adur and Worthing Councils, comments:

“This is a significant day for the town and for the wider Borough. Teville Gate has been high on our priority investment opportunity list, and I’m delighted to see a viable opportunity coming forward for a vibrant mixed use development in a key gateway location.  It’s encouraging news after such a long delay that the Official Receiver has reached an agreement for sale.

 “As soon as the finer details of the sale are negotiated, we will release the name of the site’s new owners and issue a joint statement, which we anticipate being available in early June.”

 James Appleton, Head of Economic Growth at Adur and Worthing Councils comments:

“The Council is keen to see the comprehensive redevelopment of this site to ensure an enhanced pedestrian link between the railway station and the town centre.  In this respect every assistance will be given to the new owners of the site to create a viable and high quality development which will provide a significant boost to the local economy and provide an enhanced gateway into the town centre.”

Teville Gate is the second key regeneration site acquired by developers this year, the first being Union Place which sold in January.  Adur District Council are also in advanced negotiations with a consortium to buy the Adur Civic Centre Site, which will provide new homes and businesses.  

 At this time, it is anticipated that an outline planning application for Teville Gate will be submitted to Worthing Borough Council by the end of 2015.

 

Worthing’s foreshore beacon will be lit on 8th May 2015, in keeping with celebrations due to take place up and down the country to honour the heroes of World War Two.

 

Friday 8th May will see the start of a national commemorative weekend as the country unites to honour those who played their part in the victory of World War Two. Coinciding with the national two minutes silence, Worthing’s millennial beacon will be lit on the 8th May at 3pm as the two minutes silence begins.

 To be part of this ceremonial lighting all you will need to do is make your way to the millennial beacon before 3pm.  The beacon can be found, if looking towards the sea, to the right of Worthing’s award winning pier.

 John Mitchell, Director for Communities at Adur & Worthing Councils, says:

 “Lighting the foreshore beacon is a highly symbolic act, reminding us of the freedoms we enjoy today, and the price that those freedoms cost others.

 “It is apt that the beacon will be lit the day after the General Election - another point in our calendars that should remind us just how fortunate we here in the UK are today.”

 The significance of the 3pm lighting is to mark the moment Winston Churchill made his speech formally announcing the end of the war in Europe.  It also signifies the start of the celebratory weekend across the country, consisting of fireworks, concerts, services of remembrance and street parties that will take place on Sunday the 10th.

 

 

 As you may already be aware at the beginning of the year the Council was approached by the BBC and Tiger Aspects with regards to filming a new prime time BBC1 Police drama in the Adur and Worthing area called CUFFS, with Adur Civic Centre featuring as the fictional Police headquarters and also being used by the BBC as their production and operational base during the 6 months of filming.

 

Filming is now well underway with location shooting having already taken place at various locations within our area and within Adur Civic Centre where a number of sets have been constructed.

 

The BBC will be filming scenes for their forthcoming TV series in Worthing Town Hall

Free alcohol awareness training for West Sussex businesses

 

Employers in West Sussex are being reminded they can access free training about alcohol awareness.

The training involves helping them to start conversations with staff about risky alcohol use.

19% of adults reportedly drink alcohol at a level which is risky for their health. This is estimated to cost £40.2 million per year.

Christine Field, West Sussex County Council Cabinet Member for Community Wellbeing, said: “I would encourage businesses, through their managers, human resources and personnel staff, to take up the offer of this training. Workplaces can be a good way to raise awareness of health issues or to pass on information and advice.”

Among the benefits for businesses is to:

• ·         Promote a safe and healthy working environment
• ·         Sustain a healthy and productive workforce
• ·         Strengthen business performance

The training is called Alcohol Identification and Brief Advice and is given by an organisation called Drugtrain on behalf of West Sussex County Council.

Employers and businesses who would like to take up the training should email admin@drugtrain.org.uk or call 01226 738321.

Adur and Worthing Careers Fair, Wednesday 17^th June from 5.00-8.00pm at Northbrook College Broadwater

Can you promote Careers within your individual sectors? Would you like to attend as an exhibitor?

The focus for the event is for school and College leavers to attend but, as this also coincides with the Adult Information Fair on the same evening, it is likely that visitors will be of all ages.

If you are interested in coming along to this FREE event and having a stand, please click here to download a booking form and return to: Brenda Cook Apprenticeship and Careers Manager for External Partnerships, b.cook@nbcol.ac.uk