Welcome to the FLBC Business Awards 2021

FLBC Awards 2021 - Helen Webbfrom Helen Webb, the Chair

Dear FLBC Members & Supporters

Thank you for watching this year’s Fairford & Lechlade Business Awards which came to you from The Barn Theatre in Cirencester and thank you to our sponsors The Lakes by yoo without whom we could not have put on such an event. If you missed it or want to watch again you can do so HERE >

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It wasn’t our normal awards evening however we felt it we still needed to celebrate those businesses that have managed to survive and thrive in these times. In my day job as Head of Marketing at the Air Tattoo I can totally empathise with how difficult it has been for some organisations this year and for some it has been devastating both personally and from a business perspective. However, it has also given people time to think, review and evolve and the judges agreed that the award entries were outstanding and a fantastic representation of what can be achieved in our small corner of the Cotswolds; spanning Gloucestershire, Wiltshire and Oxfordshire.

You may have noticed that we looked a bit different as Allison Murray, the winner of the Business Person of the Year in 2020, kindly offered to look at our branding. We’ll explain more about this process at the AGM in April but a huge thank you to Allison for this as she did this as a volunteer.

On the matter of volunteers, a huge thank you to my steering group, particularly Shirley from Cotswold Boat Hire who is the Vice Chair. All our steering group are volunteers so this has been a labour of love, to make sure we put on a professional event, worthy of our members and the finalist and winners tonight. Thank you to all those that entered the awards and voted for the Hospitality Awards and to those that joined me on the judging panel. Congratulations to all our finalists and winners!

Best wishes
Helen Webb
Chair – FLBC


 

Most Outstanding Business Student of the Year Award

Each year we work with Farmor’s School to find the Most Outstanding Business Student. As part of the Business Studies curriculum the students put together a plan for a business idea they have had. The school then shortlists 6 of the best plans and the Judges selected 3 finalists:

Charlotte Jaques – Amet Plants 
James Cobbing – JC Charcoal – Air Purifier 
Rosie Baker – Love the Lentil Things 

The Winner

Rosie Baker – Love the Lentil Things

The judges were extremely impressed by all six entries from the students however they were able to narrow it down to three Business Plans that particularly stood out with a design for a new Charcoal Air Purifier and creating fake plant garlands and flowers using recycled waste plastic.

The winning entry from Rosie and her business called Love the lentil things, a vegan/vegetarian fast food stall that located in the grounds of Cirencester park. Her aim was to try and educate people on the importance of eating clean good food and had realistic cost and profit projections as well as concentrating on customer satisfaction.

New Business of the Year

This category is open to all new ventures started within the last 2 years with those entering showing how their business has progressed from an idea to a trading business. The judges commented that the fact that they had survived the past year was an amazing achievement as it is difficult enough to start a new business let alone in the current environment. The Finalists were:

Leanne’s Pet Care
Lechlade Marina Ltd
Iris & Wilf

The Winner

Lechlade Marina Ltd

The judges commended Ian and Jules at how quickly they had restored the Lechlade Marina that had fallen into such disrepair over the past few years. The neglect has been all but wiped away and it is now a lovely part of the Thames with a waiting list for moorings. Not only have they bought about a positive change to the Marina and with it the surrounded area but have immersed themselves in the local community, joining the steering group for the business club, the River user Group for the Upper Thames as well as sitting on the Lechlade Town Council. The judges had a huge amount of respect for what has been achieved as a new business in just the last two years.

The Most Innovative Business of the Year Award

All businesses are innovative in some way, so entrants had to illustrate how they have managed successfully to introduce new ideas, products, customers, techniques or technology to help grow their business. This category was so relevant for this year as so many businesses have had to innovate to survive. The judges were impressed by all the businesses in this category and what they had achieved and the Finalists were: 

Beanology C.I.C
Lechlade Craft Barn
Buscot Tearoom
Jen Winnett Art

Winner

Jen Winnett Art

The judges were astounded by the energy and passion Jen had for her business as well as it being a very unique brand she has termed ‘eco art’ with the products her very own colourful animal portraits with an eco-twist in terms of paper, packaging, clothing. The were impressed with the diversification during lockdown and use of social media to raise the profile of her fledging business. The were heartened by the recent launch of free online art lessons for children, using art to help them as it had helped her.

Business Person of the Year

This award is about celebrating personal business acumen which should be recognised and encouraged, highlighting the skills and ability of a business owner or employee. The Finalists were:

Lizzie Skinner – Beanology C.I.C
Penelope Warren – The Trout Inn
Aggy Dadan – edible by Aggy

Winner

Lizzie Skinner – Beanology C.I.C

The judges were impressed with the positive impact one person could have on other peoples lives. Born in 2006 as a pre-schools music and movement group, with aims to reduce isolation and increase mental health support, joy and happiness. Since COVID this has developed with the company name changed to Beanology and Lizzie started delivering her courses on online as well as 1-1 workshops. The number of testimonials about how the courses and interaction have helped so many with their well being and mental health cannot be ignored, so, well done Lizzie for bringing light into peoples lives. 

Business of the Year Award

Business of the Year is the premier award is open to any business that can demonstrate a successful track record of excellence and achievement. This year we had some very strong entries for this award, and all were outstanding businesses, but, there was only have one winner.  The Finalists were:

Boots Fairford
Bulldog Websites
The Paperback Shop

Winner

Bulldog Websites

The judges were delighted to award the accolade of Business of the Year to Bulldog Websites who had been finalists for a number of years. They offer an excellent service to build and maintain websites, manage social media and general advice on all things digital in a professional but friendly manner. Their business has gone from strength to strength over the past few years and has progressed further during recent time, offer business options to evolve their digital offering. The judges thought that they were worthy winners and shows that perseverance pays dividends!  Congratulations Bulldog Websites, the Fairford & Lechlade Business Club Business of the Year.

Howard Dowler Award

This award is in memory of Howard Dowler, one of the founding members of the Business Club, this is a special Award made by Helen Webb as the Chair of the Business Club to the person or business that has made an outstanding contribution to the local community. She didn’t have to think for long about this as this person and their team has done everything they could to keep the hospitality spirit alive in the local community during lockdown and when they could open, put in place an impressive COVID safe environment for their customers.

The 2021 Howard Dowler Award Winner:

Penny Warren – The Trout Inn, Lechlade

The Bob Warren Hospitality Award

This Award was introduced in memory of Bob Warren, former landlord of the Trout Inn, Lechlade, and long-time supporter and one of the founder members of FLBC.

Friends, family, customers and local residents were asked to vote for the hospitality venue (café, pub, restaurant, B&B or hotel etc.) that best demonstrated the spirit of Bob Warren – offering great hospitality, excellent customer service, a warm and friendly atmosphere and provided a fantastic all round experience. There were 33 venues up for this award and the 6 that had the most votes were finalists:

7A Coffee Shop
Buscot Tea Rooms
Kushi Indian Dining
Lynwood & Co
Spikes Diner
The Coffee Post

Winner

The Coffee Post

Congratulations to Maxine, Georgia and the team, not only have you kept us going with delicious cakes during these times you have also kept the post office open, such an important amenity.

Special Award for 2021 – Service to the Community

The judges felt that we needed to recognise another business and team in the local area that similar to post office was essential to the local area and carried on and became even busier than usual, despite the obviously difficulties of operating in a COVID safe way.

Winner – Service to the Community Award

Boots Fairford – Will Pearce & Team

FLBC Online Awards Ceremony – Join us!

The judging has taken place and the finalists and winners have been decided. We will be announcing them online at 7.30pm on Saturday 27 February with the help of The Barn Theatre to put on a professional and fun broadcast. Join us ‘virtually’ as we celebrate local businesses who have gone above and beyond over the past year. Put your evening dress and tux on, grab a drink and get involved from the comfort of your sofa, and it’s free! Get updates and notified when we go live by clicking ‘interested’ or ‘going’ on our Facebook event HERE.

A huge thank you to our sponsors The Lakes for their continued support and thank you to everyone that entered this year, it was amazing to see so many business innovating, changing and growing in these challenging times.  On the 27 February you will see awards presented in the following categories;

Business of the Year

Business Person or the Year

New Business of the Year

Most Innovative Business on the Year

Outstanding Business Student of the Year (in Partnership with Farmors School)

The Bob Warren Hospitality Award (voted for by you!)

The Howard Dowler Award (chosen by Helen Webb, the Chair)

…..and this year we have a new award for Service to the Community!

Join us HERE and you will find out who wins! 

February’s Welcome from Andrew Garland, FLBC Steering Group Member

Welcome to the February edition of the Fairford & Lechlade Business Club newsletter, we trust that during these COVID and frosty times you, your family, friends and colleagues are keeping well.

On Saturday the 27th of February, the Annual Business Awards will take place, albeit virtually. This is a wonderful opportunity for the Club, its members, and the wider community to show case the business talent within our region. Supporting our local community rests at the heart of what we do, each year we are astounded by the calibre of entrants, their achievements and more especially the resilience they have demonstrated in these times – well done to all those entrants.

Within each newsletter we take the opportunity to introduce ourselves as Steering Committee Members and tell you a little about ourselves and our respective businesses.

andrew garlandAfter 30 years of working for other people and companies, I finally decided to do something for myself. In January 2018 started my own coaching and consultancy business. Initially I started my working life as an apprentice aircraft engineer working my up to senior roles. How naive was I to believe prop wash was a cleaning compound! Soon I found myself working in the Middle East where I quickly discovered how little I knew about business, people, and different cultures. I often recall the experiences my wife and I had within those local markets where anything goes, I almost sold my wife Tina to Bahraini Jeweller!

Back to school as an adult student I graduated with a master’s degree and my commercial career started. Over the years I have held several senior roles including Chair of Board, CEO, Managing Director, Sales Director, Group Marketing Manager, Operations Manager, and Aircraft Maintenance Manager. The sectors I have worked within have been quite varied including Aviation, Engineering, Plumbing, Electrical, Lighting, HVAC, Fenestration, Construction, Education, Health, Tools & Test Equipment, CCTV & Security, Data & Communications, Consumables, Wholesale and Distribution. I have been fortunate to work with family and community-based organisations, small, medium, and large sized, national, and international businesses. I consider my specialism as knowing “the business of business” so to say.

What I have learn over all those years is that continuous education and on-going self-development sits at the heart of one’s goals, both personal and professional. I am passionate about sharing knowledge, learning and self-development, but more importantly I enjoy helping people make the right decisions. I push one to learn and apply those learnings with structured guidance and support every step of the way.

I am an ethical family man whose foundations are based upon honesty and integrity and are a keen participant in my community. Recently I was appointed to The Grove Learning Trust in Highworth. With the benefit wide ranging experience, formal training an insight to behaviours, my business can support most businesses owners irrespective of size of their business to achieve what some consider not possible. The speed of that achievement simply comes down the commitment one is prepared to make. It all starts with a chat over a coffee.

Being a member of the Fairford and Lechlade Business Club has been a most rewarding, having a small part in helping businesses in our villages and communities thrive. Finally, my favourite saying “If you think that you can or cannot… you are right” Henry Ford.

New Covid support include up to £9,000 in grant payments for retail, hospitality and leisure sectors

A package of one-off grants worth between £4,000 and £9,000 for businesses in the retail, hospitality and leisure sectors is being made available by the Government, following the announcement of a third nationwide lockdown in England.

The new scheme will be accessed through local authorities and offers funding based on the rateable value of a closed business’s premises:

  • £4,000 for businesses with a rateable value of £15,000 or less;
  • £6,000 for businesses with a rateable value of between £15,000 and £51,000; and
  • £9,000 for businesses with a rateable value of over £51,000.

This funding comes in addition to the existing Government business support schemes, including grants of up to £3,000 a month for closed businesses.

Chancellor, Rishi Sunak, has also recently announced a further £594 million for local authorities and the devolved administrations to support businesses that are not eligible for the new grants.

The devolved administrations will additionally receive equivalent funding to the main grants to distribute as they see fit.

The grants, which do not need to be repaid by businesses, are part of a wider package of support measures being put in place to help struggling businesses.

Businesses in the retail, hospitality and leisure sectors have also been eligible for a 100 per cent business rates discount since 1 April 2020. The relief applies until 31 March 2021.

The Ministry of Housing, Communities and Local Government has issued a guidance note to all local authorities on this discount, clarifying which properties are eligible.

This list includes: shops, cinemas, restaurants, gyms, music venues, estate and lettings agents, small hotels, sports clubs, night clubs, bingo halls and nurseries.

Local Billing Authorities are administering the application process and they should already have knowledge of which properties are eligible.

A further extension to the Coronavirus Job Retention Scheme (CJRS) has been confirmed until the end of April 2021.

Under the latest extension, workers will continue to receive payments equal to 80 per of their wage, while employers will only be required to pay wages, National Insurance Contributions (NICS) and pensions for hours worked, and NICS and pensions for hours not worked.

The eligibility criteria for the UK-wide scheme will remain unchanged, meaning that those currently benefitting from the scheme can continue to do so.

During his announcement outlining support for businesses, the Chancellor also confirmed that he would be extending all of the Government-guaranteed COVID-19 business loan schemes, including the Bounce Back Loan and Coronavirus Business Interruption Loan Scheme, until the end of March 2021.

Applications for these loan schemes has, to date, seen more than £68 billion in guaranteed loans delivered to businesses.

If you are struggling to understand which grants, business loans or other financial support is available to your business, please get in touch with the team at McGills in Cirencester who will be happy to help. Tel: 01285 652128, email: partners@mcgills.co.uk or visit us at Oakley House, Tetbury Road, Cirencester, Gloucestershire, GL7 1US

NEW MEMBERS – This month we welcome two new FLBC Members

Crafty Boaters Static Narrowboat Accommodation & Original Artwork Gifts 

Martin and Sarah Lee, are our Crafty Boaters, they live at the top of the navigable River Thames in Lechlade-on-Thames.
Currently, they have three boats.
Their home is a 55ft Dutch Barge called Skûtsje.
They also have a 50ft narrowboat called Lark Rise III, and a 35ft Dutch barge that is currently being renovated called Aaltje.
They offer static boat accommodation at the top of the River Thames, and create and sell their own original artwork, hence the name Crafty Boaters.

Static Boat Accommodation

The boats are moored in the quiet surroundings of Lechlade Marina in Lechlade-on-Thames.
Their narrowboat, Lark Rise III has everything to offer from cosy nights in by the stove to exploring the great outdoors.

This lovely boat is available from a minimum of 2 nights up to a maximum of 28 nights. The boat is an ideal place to start if you have been thinking of a narrowboat holiday, but are not confident to take a boat out yourself. Or perhaps you are thinking about living on a narrowboat but would like to try it out first. Whatever your reasons for wanting a narrowboat stay, Lark Rise III is in an ideal position with views of the River Thames.

You can find out more about their static narrowboat accommodation and download a brochure from their website.

Artwork

The second part of our business is their artwork. They create hand-cast and hand-painted ceramic items, that are for sale online.
In 2021 they will be at a number of local craft markets.

You can get in touch with Martin & Sarah at:
Webmail: www.craftyboaters.co.uk
Email: craftyboaters@gmail.com
Mobile: 07974760409 or 07919896967
They are also on Facebook and Instagram

 

Blue & Bohème Florist

Hollie Weeks joins us having just recently opened Blue & Bohème Florist – located at 1 Hedley House, Lechlade.
That’s right in the centre on the corner of the Lechlade to Faringdon Road.
Her window display is worth a drive by!
We should all know Hollie, by now as she is the daughter of the Award winning Cotswold Chippy owners!

🚚 Offering local delivery, Blue and Bohème Live Simply, and Bloom Wildly ✨

Bouquet and blooms available as well as plants and pots.
Hollie also caters for wedding and events, funerals and sympathy and Corporate requirements.
🌻🪴💍🕊💼

www.blueandbohemeflorist.co.uk
1 Hedley House
Lechlade
Gloucestershire GL7 3A
Tel: 07716070026.
Email: blueandboheme@outlook.com
Also checkout Blue and Bohème on Facebook

Cotswold Boat Hire

Spring is coming, and we are getting ready to hire boats out to you.
The online booking system is up and running well and bookings are up on previous years, so book as early as you can!

We are part of the Good to Go England Tourist Board Campaign, you can book with confidence – we have Covid-19 secure procedures.
We also offer special terms to protect your deposit/booking to make sure you have flexibility should you be affected by Covid-19.

We currently expect to be able to offer day and half day trips from April and Holidays from May onwards.
Last year was a chance for family groups to really get away from it all and we hope as many people will enjoy being out on the river this year.
A couple of hours out for a small family open boat costs £60 – full day prices start at £140 for a small cabin cruiser.
You don’t need a licence and no experience is necessary – the lead driver must be over 21 though.

We offer 10% off and a free upgrade where available to FLBC members.
If you book on line – put in comments box and we will arrange you a discount refund, you can also book over the phone.

Press the orange tab to book at : https://www.cotswoldboat.co.uk

Hope to see you soon!    Greg, Shirley and the Cotswold Boat Hire Team

Lechlade Macmillan Mammoth Quiz 2021

Thank you for expressing an interest in the Lechlade Macmillan Quiz in 2021.

The Lechlade Mammoth Quiz will be run for its 5th year in 2021 as a Virtual Quiz following 4 successful years at The New Inn in Lechlade, raising £2150.

About the quiz

The Mammoth Quiz is officially a beast. It’s the world’s biggest simultaneous quiz according to the Guinness Book of Records and thousands of people across the country complete the quiz at the same time.

The Quiz has raised over £413,000 since 2009

So How this quiz makes a mammoth difference

All the money you raise from your Mammoth Quiz will help Macmillan to provide millions of people affected by cancer with practical, medical, emotional and financial support, which is especially important this year with the NHS working so hard dealing with Covid-19.
The Quiz winners will receive a Macmillan Champions Certificate.

So How will the Quiz Work?

You will be given a Zoom Meeting code and password to join the Quiz on Zoom where questions will be put verbally by the Quizmaster. There 2 groups of 4 rounds (10 questions each) with a break in between. Each Group has a joker which can be applied to a selected round in advance and gives double points.
This makes the total points 100 for the quiz. Zoom can be downloaded on a PC or as an App on a tablet or phone and is free, apart from wi-fi or mobile data usage charges if they apply. The quiz starts at 745pm on Friday 26th February 2021, but all players must have joined the call by 7.30pm latest.

You will be provided with sheets for answers for each round by email in PDF format for local printing. On completion of every 2 rounds, please take a photo or scan and return to my email for verification and marking. I will go through the answers after each Group of Rounds, for local marking. You need to ensure you mark the sheet when you apply your joker.

The results will be given out at the end if there is time and sent out by email to all teams, the winners receiving a certificate. The Quizmasters Decision on marks given is Final.

Donations to Macmillan

We will not be selling tickets or doing the usual raffle, so we ask you to donate directly to Macmillan. You will be provided with a QR code to scan for a link to the Quiz fundraising page. We suggest a minimum of £7 per person in each team but if you can give more then this helps. I will let everyone know how much has been raised for the Quiz. Donations are preferred before the Quiz takes place. Please ensure the Lead name in each household donates for all so this can be tracked.

COVID-19

Please ensure that any COVID-19 restrictions in place at the time of the Quiz are adhered to, especially social mixing of teams inside.

One Virtual Team from different Households

If you wish to join with another household to form a larger virtual team (max 6) then the following applies.

  • All players must still join the Zoom meeting and register
  • The team leader and team name together with other registered players must be included on the registration form
  • The facility to send private messages to others on Zoom on the call allows players in the team to provide input to answers
  • The team can set up its own internal comms if they choose • Only one answer sheet will be provided from the team by the team leader
  • Donations can be made by any registered player irrespective of being in another team or not
  • All players will be muted for the quiz although they can change this themselves to ask questions of clarity or to repeat.

What you need?

If you do not have Zoom or a Zoom account, then you need to set this up using your email.
You need a printer to print sheets
A mobile camera or scanner to submit answers.
Pens, Paper and Drinks!!

REGISTRATION

All participants must register by email no later than 5pm Friday 19th February 2021. You need to provide:-

Lead Name and number of team members. If this includes members in other households then their lead name and member numbers are required
If you use an Alias Zoom Name then this must be given so you are recognised to join the Quiz on Zoom. All registered players are expected to join by video but if this is not possible, please indicate?

You will receive a confirmation of registration or notification of further details required if necessary.
You will receive a pdf format set of sheets for answers and only these will be accepted for verification and marking.
You will receive a QR code for a weblink for donation.
You will receive a Zoom meeting code and password to join the call on 26th February 2021.
I apologise for the detail given but I realise that Zoom and Virtual Quizzes may be new to many.
If you have any questions arising from this guide, please email me directly in plenty of time before the Quiz starts.

Keith Fuller
kdfmac@gmail.com

What could Budget 2021 have in store?

The UK Government’s budget deficit is expected to reach a peacetime high of around £400 billion this year as a result of the cost of economic support measures during the Coronavirus crisis as well as the impact of the crisis on the economy and, in turn, tax receipts. That is around seven times higher than the £55 billion deficit forecast by the Office for Budget Responsibility (OBR) in March 2020.

Meanwhile, the OBR forecasts that Government debt will increase from around 80 per cent of GDP at the start of the crisis to around 105 per cent of GDP at the end of 2020-21, with the potential to rise to about 120 per cent of GDP during the first half of the decade.

As a result, speculation has been mounting in recent months that the Chancellor, Rishi Sunak, will announce significant tax rises at the Budget on Wednesday 3 March 2021.

 

How big could tax rises be?

The widely-respected Institute for Fiscal Studies (IFS) warned back in October that just to bring borrowing down to £80 billion a year and debt down to 100 per cent of GDP would require tax rises of around £40 billion a year by the mid-2020s. That is equivalent to more than three-quarters of the Government’s entire receipts from Corporation Tax last year or 20 per cent of receipts from Income Tax.

The IFS figures are also based on the assumption that 75 per cent of the cost of the crisis will fall in the 2020-21 tax year. If that proves not to be correct, the required tax rises could be significantly higher.

 

When can we expect tax rises?

In its October report, the IFS says that neither tax rises nor cuts to public services should be considered in the next 18 months, arguing that the priority should be supporting the economy.

However, politically, it may be appealing to the Chancellor to begin raising some taxes sooner rather than later to reduce the headline figures for tax rises at future Budgets.

As a result, there is significant uncertainty about whether the 2021 Budget will contain significant tax rises, but a high level of certainty that tax rises will be announced in the coming years.

Additionally, The Financial Times reports that a second Budget is expected in the autumn and it is possible that key decisions will be left until then.

 

What tax rises could we see at the March Budget?

There are a lot of options open to the Chancellor – some of which more likely than others – as he considers what to do in March, including any combinations of:

  • Keep things as they are;
  • Increase tax rates on any combination of taxes;
  • Reduce tax rates on any combination of taxes;
  • Introduce new tax bands;
  • Remove existing tax bands;
  • Increase tax thresholds;
  • Reduce tax thresholds;
  • Extend tax reliefs and allowances;
  • Limit tax reliefs and allowances;
  • Increase the value of tax reliefs and allowances;
  • Reduce the value of tax reliefs and allowances;
  • Restructure or redesign existing taxes;
  • Introduce new taxes.

Complicating matters further still, any tax changes could be announced with immediate effect or to take effect at some point in the future.

The sheer number of options open to the Chancellor mean that predicting what will be in the Budget is hugely uncertain. However, we can get an idea of which might be more likely than others from press reports based on information from well-informed sources.

 

Capital Gains Tax

In November 2020, the Office for Tax Simplification (OTS) published a report into Capital Gains Tax (CGT), which recommended that the ministers consider bringing it into line with Income Tax in a move that would approximately double the amount owed on any given transaction.

It is also possible there could be changes to the annual exemption or Entrepreneurs Relief, with the possibility that Entrepreneurs Relief could be scrapped or modified significantly.

However, few national papers have trailed changes to CGT as a possibility in recent weeks.

 

Corporation Tax

The Times reported on 18 January 2021 that the Chancellor is considering increasing Corporation Tax. Corporation Tax is currently at historically low levels, having fallen from 28 per cent in 2010 to 19 per cent now.

Whether such an increase comes to pass may depend on the continued success of the vaccine programme and how long the current lockdown lasts.

https://www.thetimes.co.uk/article/sunak-wants-corporation-tax-rise-to-control-debt-pnqjx2cq0

 

Replacing Council Tax and Stamp Duty with a new Property Levy

The Mail on Sunday reported on 17 January 2021 that the Chancellor is considering a plan to replace Council Tax and Stamp Duty Land Tax (SDLT) with a new national property levy, based on current values.

However, the report says that such a change would not be imminent.

https://www.dailymail.co.uk/news/article-9156747/Ministers-consider-replacing-council-tax-property-levy.html

 

Extension of Stamp Duty Holiday

The Sunday Times reported on 17 January 2021 that the current increase in the SDLT threshold to £500,000 will be extended. However, reports elsewhere say this will not be the case.

https://www.thetimes.co.uk/article/rishi-sunak-eyes-tax-rises-in-march-budget-gmd3qpmkb

 

Reduce Tax Relief on Pension Contributions

The Daily Express reported on 7 January 2021 that tax relief on pension contributions could be limited at the Budget.

https://www.express.co.uk/finance/personalfinance/1379042/rishi-sunak-tax-relief-pension-contributions-march-budget

 

Introduce a Wealth Tax

An independent commission established last spring by the London School of Economics, the University of Warwick and the Economic and Social Research Council to analyse proposals for a wealth tax has rejected an annual tax but has advocated a one-off charge, saying:

“A well-designed one-off wealth tax would raise a total of £260 billion at a rate of five per cent over £500,000 per individual or £80 billion at a rate of five per cent of £2 million per individual, payable at one per cent per year over five years.”

While the Chancellor has rejected a wealth tax, the potential revenue could tempt him into a u-turn. Any such tax would likely be implemented immediately and without warning to prevent planning.

 

Planning now

The content of the 3 March 2021 Budget is amongst the most uncertain for years and it is important to take account of your whole tax position in preparing for the possibility of tax rises this year or in future years.

Please contact us today to find out how we can help you plan for tax rises in the Budget.

-Ends-

The Purple Plumbing People

Even though we are in lockdown, it is still important to have your boiler serviced to make sure it keeps working correctly.  Working at home and having the heating on more often, will result in more wear and tear on the system.  Your annual boiler service will identify any potential issues before they become problems, saving you money and the hassle of a broken boiler.

The Purple Plumbing People work in a fully COVID-19 compliant way including temperature testing our engineers twice a day, wearing masks, remaining 2m from householders and wiping surfaces when finished.