Kim Butler following in dad’s footsteps at Clay Shaw Butler
A Carmarthen woman is following in her dad’s footsteps by carving out a career in accountancy.
Kim Butler, 25, has just qualified as a Member of the Association of Accounting Technicians, MAAT.
And she’s very proud to be part of the 23-strong team at leading Carmarthen accountants and business consultants Clay Shaw Butler.
“I’m a very proud dad having Kim on board as part of the team here at Clay Shaw Butler,” said Clay Shaw Butler director David Butler.
“We take great pride in Clay Shaw Butler in making sure our staff take part in a wide range of training activities and Kim deserves congratulations on getting her MAAT qualification.”
Kim was educated at Queen Elizabeth Cambria School and has been part of the team since leaving full-time education.
The Association of Accounting Technicians, AAT, is the UK’s leading qualification and professional body for accounting and finance staff.
Clay Shaw Butler has a team of team of 23 professional staff with a combined experience of more than 210 years. The team includes Welsh speakers at all levels. The company’s office is in Lammas Street, Carmarthen.
David Butler, director of Carmarthen-based-chartered accountants and business consultants Clay Shaw Butler, was asked by the Western Mail and South Wales Evening Post newspapers to give his views on 2013.
He said -
“We are seeing an increasing number of graduates flooding the market seeking work experience and looking for small/medium enterprises locally to gain work experience and training and to acquire an accountancy professional qualification. Living locally minimises their costs as they live with mum and dad. Often these skills are lost in small Welsh towns and we welcome the opportunity for taking advantage of this opportunity.
“In view of the increased Annual Investment Allowance up to £250,000 from the 1 January 2013, many businesses will take advantage of this to move forward their businesses, take the associated tax savings and in turn help growth within the economy. Likewise. the reduction in the Corporation Tax Rate reduces the tax burden tremendously.
“More than 75 per cent of executives now engage in social media believing this to increase their business turnover and overall profitability. We feel this should also improve office productivity due to the availability of centralised information sharing and a centralised message board for staff.
We have increased our online ‘webinar’ training availability to our staff, reducing our carbon footprint and doing away with the need to travel for training.
“In 2013, we know clients will require a more pro-active approach from accountants and will look for those who can offer a full service. Strong links with banks and lenders and other quasi partners, including Independent Financial Advisers, will be crucial here.
“Real Time Information for PAYE will be implemented, commencing from April 2013, and this will eventually roll out to all businesses. This is the most significant change to take place since PAYE started. We see many businesses not having the time or resources to be able to cope with this and outsourcing to accountants.
“Larger firms continue to ‘low ball’ in their fees approach to clients as they require additional turnover to cover their increasing overheads, although some have clearly reduced staffing levels.
“There is a lot of work to be done in 2013 to convince the banks to lend and support their business customers.
“We will be emphasising the moral responsibility to support long-standing profitable businesses experiencing cashflow problems often created by larger customers or Government agencies and local authorities.”
•Clay Shaw Butler has a team of team of 22 professional staff with a combined experience of more than 210 years. The team includes Welsh speakers at all levels.
Pictured, left to right, Rhodri Morgan,
David Butler and Gwenallt Jones
Two young graduates have joined leading Carmarthen accountants and business consultants Clay Shaw Butler as part of Welsh Government initiative.
Rhodri Morgan and Gwenallt Jones have joined the Lammas Street business as part of a six-month-long Go Wales Jobs Growth Wales project.
The project is designed to help graduates into the jobs market.
“Jobs Growth Wales is an innovative scheme and aims to give graduates that all important first step on the jobs ladder,” said Clay Shaw Butler director David Butler.
“We are delighted to have Rhodri and Gwenallt on board at Clay Shaw Butler and wish them all the best in the careers.”
Rhodri Morgan is from Llangunnor, Carmarthen, and is a BSc honours graduate from Swansea University, where he studied accounting and finance. He is a keen footballer and plays for Johnstown United.
Gwenallt Jones is from Johnstown in Carmarthen and graduated with a first class BSc degree in mathematics from Swansea University. He is a keen golfer.
About the Go Wales Jobs Growth Wales project:
The programme offers a six month job opportunity for graduates to become part of a company. The programme is aimed at young graduates or equivalent who are job ready but have had difficulty securing employment.
The benefits:
Six months good quality work experience where students can use and enhance graduate level knowledge and skills.
The possibility of further work with the employer at the end of the six months.
A good basis for seeking quality employment with other organisations
Clay Shaw Butler has a team of team of 23 professional staff with a combined experience of more than 210 years. The team includes Welsh speakers at all levels.
Clay Shaw Butler's Amanda completes the half marathon
Clay Shaw Butler accountant Amanda Russell completed the Cardiff half marathon.
She joined a team of six other runners raising money for a small country in west Africa called Burkina Faso.
Amanda said: "I finished in 1 hour 57 minutes and so far we have raised more than £3000 for the Burkina Faso project, although we are still pushing to reach our group target of £5000 and there’s still time to give at http://www.justgiving.com/teams/BurkinaFaso
"You can also donate by texting FASO50 £5 to 70070. You can change the amount to any sum you want to give.
"There was an amazing atmosphere in Cardiff on what turned out to be a dry and fresh morning. There was plenty of hustle and bustle before we started and I bumped into numerous well-known faces on the journey up to the start line.
"The crowd of runners was daunting and the water stations were eventful, ducking, diving and jumping over bottles! Everyone was in high spirits around the course and the spectators were brilliant at keeping morale high on the way around although being told at mile 10 that you’re nearly there and it's all downhill from now on was a blatant lie!
"I was very glad to see the finish line, although finishing the experience off with steak and chips and tales of the days events made all the pain a distant memory! All in all, I thoroughly enjoyed the experience and would definitely do it again . . . just not for a few weeks!
"I'd like to thank all family, friends, customers and clients who helped support me and gave generously to our charitable cause."
Amanda added: "The United Nations rates Burkina Faso as the world's third poorest country and so they need as much help and money as we can give to allow them a chance to become self sustainable. The money being raised is specifically being put towards flood prevention.
"Remember: Donating through JustGiving is simple, fast and totally secure. Your details are safe with JustGiving - they'll never share them with anyone or send you unwanted emails. Once you donate, they'll send your money directly to the charity. They'll make sure Gift Aid (an additional 28%) is reclaimed on every eligible donation by a UK taxpayer, too. That means more money goes to the charity, faster, with JustGiving."
Amanda Russell ATT FCCA is a Relationship Accountant with Clay Shaw Butler chartered accountants and business consultants in Carmarthen.
The team at Clay Shaw Butler can be contacted on 01267 228500 or through the website at www.clayshawbutler.com
Clay Shaw Butler welcomes solicitors for seminar
The welcome mat will be out for West Wales solicitors attending a seminar at Clay Shaw Butler on Thursday (October 18).
The continued professional development seminar for solicitors will take place in the boardroom at Clay Shaw Butler's HQ in Lammas Street, Carmarthen.
Paul Jones, Senior Associate Adviser with CPM21, will be in the chair for the event, which will focus on compliance issues following recent Solicitors Regulation Authority (SRA) changes.
Accountant Amanda running half marathon for charity
Clay Shaw Butler accountant Amanda Russell is running the Cardiff half marathon on Sunday.
She is joining a team of five other runners from West Wales raising money for a small country in west Africa called Burkina Faso.
Amanda said: "The United Nations rates Burkina Faso as the world's third poorest country and so they need as much help and money as we can give to allow them a chance to become self sustainable. The money being raised is specifically being put towards flood prevention so please follow the link below to donate. Thanks!
"The situation in Burkina Faso is urgent with thousands facing famine NOW. Please give what you can.
"Remember: Donating through JustGiving is simple, fast and totally secure. Your details are safe with JustGiving - they'll never share them with anyone or send you unwanted emails. Once you donate, they'll send your money directly to the charity. They'll make sure Gift Aid (an additional 28%) is reclaimed on every eligible donation by a UK taxpayer, too. That means more money goes to the charity, faster, with JustGiving."
Amanda Russell ATT FCCA is a Relationship Accountant with Clay Shaw Butler chartered accountants and business consultants in Carmarthen.
The team at Clay Shaw Butler can be contacted on 01267 228500 or through the website at www.clayshawbutler.com
Looking after business, the business page column from Clay Shaw Butler
By Nigel Roberts, finance and banking executive with Carmarthen-based accountants Clay Shaw Butler
Making sure you have adequate finance is a fact of life if you run a business.
Whether you are looking to expand, undertake a specific project or simply fund your day-to-day purchases, finance is essential.
Obtaining finance is not always easy, especially if yours is a small business or a recent start-up. Borrowing may be difficult due to lack of security.
A grant may be the answer.
What is a grant?
A grant is a sum of money awarded, by the government or other organisation, for a specific project or purpose.
Normally it will cover only some of the costs (typically between 15% and 50%); the business will need to fund the balance.
One of the main features of a grant is that the money is not repayable provided that the terms and conditions of the grant are met. But, having said that, their availability is limited and competition for the funds can be quite intense.
Grants can be simple in principle. In practice, however, they can be somewhat daunting because of the huge number of different schemes in operation and the fact that schemes are constantly changing.
Government grants are distributed through a variety of ministries, departments and agencies both on a national and local basis.
The following website may help with initial research into grant availability:
The European Union is also a provider of funds, mainly through the European Commission which administers a large number of schemes.
Is my business eligible?
Many of the available schemes are open to all without restriction. Eligibility for others will generally depend upon three main factors:
geographical location of the business. For example, some schemes are targeted in areas of social deprivation or high unemployment
size of business. For example, some schemes are restricted to smaller businesses
industry or sector in which the business operates. For example, some schemes aim to tackle particular problems or issues affecting an industry sector.
I’ll take a closer look at making grant applications in my next column.
At Clay Shaw Butler, we can help you to find an appropriate source of grant funds. We can also assist with your business plan and detailed application.
The team at Clay Shaw Butler can be contacted on 01267 228500 or through the website at www.clayshawbutler.com
Clay Shaw Butler welcome back Sarah James
The team at Clay Shaw Butler have extended a warm ‘welcome back’ to 23-year-old Sarah James.
Sarah first started work for Clay Shaw Butler, the Carmarthen-based chartered accountants and business consultants, in 2007.
She worked for the firm for two years while studying to gain her AAT (Association of Accounting Technicians) qualification.
She took a break from accountancy to study a three year degree and gain some university experience, graduating with a BSc Hons in Health, Nutrition and Lifestyle at The University of Wales Trinity St David.
Sarah is a familiar face to Clay Shaw Butler clients as she has also worked there during holidays and breaks from university.
Her next plan is to study with the ACCA (the Association of Chartered Certified Accountants, the global body for professional accountants) from September to become a Chartered Certified Accountant.
Clay Shaw Butler director David Butler said: “I am extremely pleased to welcome Sarah back into the team. We have Investors in People status and we pride ourselves on continuing to invest in the development of Clay Shaw Butler team members.”
Clay Shaw Butler is accredited as a Platinum status Training Office with the Association of Chartered Certified Accountants.
The team at Clay Shaw Butler can be contacted on 01267 228500 or through the website at www.clayshawbutler.com
Looking After Business (July 2012)
Looking after business, the business page column for the Carmarthen Journal By Ann Thomas, senior consultant with Clay Shaw Butler, chartered accountants and business consultants of Carmarthen
They say that charity begins at home – and I’ve got the aches and pains to prove it! Currently, I am in training for a marathon Paris to Swansea bike ride to raise cash for the Maggie’s cancer centre in Swansea.
Getting ready for a 400-mile marathon means you have to spend hours in the saddle getting fit.
Take the aches and pains out of the equation and you can actually get some thinking done on those practice rides. For example, I was thinking about how to make tax-effective gifts.
You can get tax relief on gifts to UK charities if you give:
under Gift Aid
through a Payroll Giving scheme, run by your employer, or
by making a gift of certain shares or land.
In subsequent columns, I’ll look at other issues, but, for now, let’s concentrate on Gift Aid.
If you pay tax, Gift Aid is a scheme by which you can give a sum of money to charity and the charity can normally reclaim basic rate tax on your gift from the taxman, HMRC.
That increases the value of the gift you make to the charity. So for example, if you gave £10 using Gift Aid in 2011/12 that gift was worth £12.50 to the charity.
You can give any amount, large or small, regular or one-off.
If you do not pay tax, you should not use Gift Aid.
How does a gift qualify for Gift Aid? There are three main conditions. You must:
make a declaration to the charity that you want your gift to be treated as a Gift Aid donation
pay at least as much tax as the charities will reclaim on your gifts in the tax year in which you make them (tax credits on dividend income will count towards the tax paid)
not receive excessive benefits in return for your gift.
You should keep a record of payments made under Gift Aid for each tax year. The time limit for claiming tax relief on Gift Aid donations is four years. This time limit applies to the charity and the individual making the gift.
If you would like to help a charity financially, it makes sense to do this in a tax efficient way. We can provide assistance in determining this for you. Please contact us for more detailed advice.
The team at Clay Shaw Butler can be contacted on 01267 228500 or through the website at www.clayshawbutler.com
Clay Shaw Butler director David Butler met one of his sporting heroes - the legendary Welsh sprinter Ron Jones.
Mr Jones was in Carmarthen for a SportsAid lunch held at The Ivy Bush Royal Hotel, Carmarthen.
Mr Butler, director of Clay Shaw Butler, is the vice-chairman of the Carmarthen branch of the SportsAid Wales charity.
He presented a cheque for £5000, on behalf of SportsAid Carmarthen, to Mr Jones.
SportsAid Wales has supported some of the nation's most successful athletes of all time, including Nicole Cooke who brought home gold from the Beijing Olympic Games.
The charity holds regular fundraising events and lunches and is keen to work more closely with local businesses and organisations to help the next generation of sporting heroes who hail from Wales to achieve their potential.
Mr Jones heads up SportsAid Wales.
He was the athletics team captain for Team GB at the 1968 Mexico Olympics and was inducted into the Welsh Athletics Hall of Fame in 2009.
Mr Butler said: "In this Olympics year, it was an honour to meet such a great sporting hero such as Ron Jones."
Mr Butler and Mr Jones are pictured with Clay Shaw Butler practice manager Felicity Pearce.
Looking After Business (June 2012)
Looking after business, the business page column from the Carmarthen Journal by David Butler, director of Clay Shaw Butler, chartered accountants and business consultants of Carmarthen.
Sport is bound to be high in all of our thoughts this summer – Wimbledon, the Euro 2012 football tournament and the Olympics are just three of the events dominating press coverage.
I am proud to be involved with a charity called SportsAid Wales, which supports some of our most successful sportsmen and sportswomen.
A few weeks back, the ‘team’ at Clay Shaw Butler also turned out on a Sunday morning to cheer the Olympic Torch Relay as it moved up Lammas Street in Carmarthen.
It seems that, no matter where you turn, sport is one of the major topics of conversation.
But does sport matter when it comes to business?
Well, it can teach us valuable lessons.
For example the dynamics of sport can have parallels in the world of business.
In both areas you need –
Leadership
Group cohesion (or teamwork)
Communication.
Sport doesn’t just burn calories and stimulate endorphins; its benefits pay off in longer term.
For example, sporting activity helps keep us fit and can give some of us that extra edge in business.
Sport builds up physical and emotional endurance, and demands that players are constantly aware of their weaknesses and strive to overcome them.
Pushing yourself through things in sports can help create the kind of resiliency that you will need if you are thinking of starting your own business.
Sport provides a complete set of metaphors for business success: getting a team working together and finally reach the podium is very gratifying.
Applying these metaphors to the business world can be the key to success.
Many top sport performers used the lessons learned during their sport career to establish a successful career in business.
Success in both sport and business must include the following –
You have to be focused.
You have to plan meticulously.
You have to learn how to perform at a consistently high level.
There are lessons galore in sport.
For example, if the team members of a business are not well motivated and they do not enjoy their jobs, then it is impossible to maximise the team potential and win.
The team at Clay Shaw Butler are on Twitter. Look for @clayshawbutler. We have more than 100 followers, so join the club!
The team at Clay Shaw Butler can be contacted on 01267 228500 or through the website at www.clayshawbutler.com
Looking After Business (May 2012)
Looking after business, the Carmarthen Journal business page column from Clay Shaw Butler By Nigel Roberts, finance and banking specialist with Carmarthen-based accountants Clay Shaw Butler
Like me, you may rely on the children to provide ‘education’ on the latest developments on social media.
And you probably ask yourself the question: What’s it all about? Are Facebook and Twitter and all other bits of social media relevant to how we do business?
Digital marketing specialists Add People (www.addpeople.co.uk) have been busy studying 3,000 UK businesses to find out how they use Twitter to help drive their businesses.
Here are the Top 20 tactics they discovered for using Twitter for business -
1. Help others with problems by using the hashtag # for your industry term.
2. Share tips related to your business and work-life balance.
3. Share photos of conferences, travel, products and other finds.
4. Provide selected highlights from a conference or event.
5. Report industry, company, world and other news related to your business, together with commentary.
6. Link to articles and content posted elsewhere, saying why it’s valuable
7. Post original thoughts on your topic, industry and business.
8. Join industry and topic groups related to your business and career.
9. Feed your tweets into other social networks like Facebook and LinkedIn
10. Regularly take part in Twitter chats related to your industry.
11. Research prospects before meeting them. You can gain a lot of valuable information just from scanning their tweets, profile and contacts
12. Give referrals via Twitter. What goes around comes around
13. Spread your tweets throughout the day, rather than posting all at once. People check Twitter at different times.
14. Respond to tweets which relate to your industry.
15. Publish your Twitter ID on business cards, email signature, email, newsletters, web sites and brochures, so prospects can learn more about you.
16. Post any business discounts and offers on Twitter.
17. Use keywords on your profile and a fun fact to earn trust, add personality and enable you to be found.
18. Dump the default Twitter avatar and use a good photograph of yourself or a suitable image.
19. Follow experts, companies, competitors and leaders in your industry.
20. Be authentic, genuine and real. In other words, be yourself.
Of course, the team at Clay Shaw Butler are on Twitter. Look for @clayshawbutler. We have more than 100 followers, so join the club!
The team at Clay Shaw Butler can be contacted on 01267 228500 or through the website at www.clayshawbutler.com
Donna Jones celebrates new qualification
Clay Shaw Butler's Donna Jones is celebrating gaining the AAT qualification with the professional body for accounting technicians. The AAT is the UK's leading qualification and membership body for accounting staff.
Donna is 28 and from Lampeter. She is a former pupil of Lampeter Comprehensive School. She gained a Business Management Degree from Aberystwyth University.
Donna is keen to add to her list of accountancy qualifications and is planning to start her ACCA qualifications in September. ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. ACCA aims to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. The association currently supports 140,000 members and 404,000 students throughout their careers, providing services through a network of 83 offices and active centres.
You can contact Donna at Clay Shaw Butler, chartered accountants and business consultants, of Lammas Street, Carmarthen, on 01267 228500.
Accountant Ann counting down the days to international bike challenge
Accountant Ann Thomas is counting down the days to a marathon international bike challenge.
Ann, senior consultant with Clay Shaw Butler chartered accountants and business consultants in Lammas Street, Carmarthen, has signed up for the Paris to Swansea charity bike ride in August.
“It’s the biggest physical test I’ve faced since climbing Kilimanjaro a few years back, but I’m looking forward to a great challenge,” said Ann, 37.
“At the front of my mind will be helping to raise loads of cash for charity and I will be riding for Maggie’s. They are a very worthwhile UK-wide charity with a new cancer centre in Swansea.
“The actual ride takes place between August 22-26 and will cover 320 miles. I will be joining a group of riders who hope to raise more than £80,000 for Maggie’s.”
Ann is already in training for the ride and is just over a quarter of the way towards reaching her individual target of raising £1,500.
“I’m a keen cyclist and I’ve taken part in what are described as ‘Sportif’ cycle ride events in the past. But the cycle rides I’ve taken part in are nothing compared to the scale of this ride from Paris.
“The hard training has started and there are a few aches and pains, but I hope to be fully geared-up for the event come August.
“The support I have had from work colleagues and clients has been immense and I am very grateful to everyone who has contributed to such a worthwhile cause.
“Meanwhile, I have set up a JustGiving website page which makes it easy for people to donate cash.
“Cycling from Paris to Swansea in four days is a challenge in itself but is nothing compared to the work Maggie's does tirelessly from day to day, helping all affected by cancer, from sufferers, to their family and their friends. They provide exceptional support and help to all that need it.
“You will all no doubt have been touched by cancer in some way in your lives and can empathise with anyone that is currently dealing with or indeed has had to deal with cancer in the past. This cruel disease does not care whom it attacks and the fight to ease the pain it causes needs our support.”
Donating through JustGiving is simple, fast and totally secure. Your details are safe with JustGiving. Once you donate, they’ll send your money directly to the charity and make sure Gift Aid is reclaimed on every eligible donation by a UK taxpayer. So it’s the most efficient way to donate.
If you want to sponsor Ann directly, call her at Clay Shaw Butler on 01267 228 500 or email AnnThomas@clayshawbutler.com
About the ride: Sarn Helen Events, Action Bikes and the South Wales Evening Post have teamed up to raise money for Maggie’s Cancer Caring Centre’s.
‘Pedal Paris2Swansea’ bike ride is a fantastic charity challenge starting from the capital of France, through rural countryside, over the channel, into sleepy England, and on to the heart of South West Wales, finishing at Morgan’s Hotel in Swansea.
Itinerary
Day 1 – Travel To Paris
Day 2 – Paris to Val de Reuil – 75 miles: Early morning departure cycling west out of Paris, bells ringing. Along the River Seine, taking in the beautiful Vernon Gardens all the way to Val de Reuil.
Day 3 – Val de Reuil to Le Havre – 75 miles: The Seine is again our passage after breakfast, cycling through quiet rural roads, to the source of this magnificent river. Le Havre crossing to Portsmouth – arrival approx. 21:30
Day 4 – Portsmouth to Bristol – 80 miles: Riding through the New Forest, and the English countryside to the spiritual home of Brunel.
Day 5 – Bristol to Swansea – 85 miles: Leaving Bristol under the Suspension Bridge, we cycle through Cardiff, and home to Swansea for the celebratory ride down Fabian Way.
About Maggie’s: Maggie's has opened its first purpose built centre in Wales. Maggie's South West Wales, located beside the Singleton Hospital in Swansea is set to provide anybody affected by cancer with support that complements the treatment provided by the hospital.
Maggie's South West Wales' position next to the South West Wales Cancer Centre allows it to support the South West Wales Cancer Network. This region currently sees more than 3,000 new cases of cancer of diagnosed each year.
We are open Monday to Friday, 9.00am to 5pm for information, psychological and emotional support and benefits advice. We have a clinical psychologist, a cancer support specialist and a benefits advisor on hand for drop-in and pre-booked appointments and courses.
If you are affected by cancer please drop in to see us at our centre beside Singleton Hospital, Sketty Lane, or phone 01792 200000.
The network covers approximately 900,000 people within the regions of Aberystwyth, Haverfordwest, Swansea, Powys, Carmarthen, Llanelli, Neath Port Talbot and Bridgend. In this area, there are over 3,000 new cases of cancer a year and 20,000 people living with cancer.
Uniquely, Maggie’s South West Wales will be the first centre to collaborate with the cancer genetics service to offer information and practical support to people who are at risk of cancer, based on family history.
For more information about supporting Maggie’s South West Wales, please contact Andy Watts, andy.watts@maggiescentres.org or Vicki Jones, Community Fundraising Coordinator, vicki@maggiescentres.org or telephone 01792 285682.
Looking after business, the new business page column from the Carmarthen Journal By Ann Thomas, senior consultant with Clay Shaw Butler, chartered accountants and business consultants of Carmarthen
Wednesday (today) is traditionally market day in Carmarthen – the day when farmers and businesspeople arrive from all over Carmarthenshire to add an extra buzz to the town.
The conversations are usually dominated by the weather and about the state of the local economy, with many businesses still working their way out of the economic downturn.
If your business is feeling the pinch, it´s more important than ever to look at what you can do. Here are some ideas to get you started –
1. Get paid sooner! Encourage your customers to pay more quickly, by giving small discounts or just by chasing them promptly. Send out invoices for completed work as soon as possible, and for long term projects ask for staged payments on account.
2. Promote best value products. If you have a range of products or services, look at giving more prominence to the best value items in your marketing.
3. Talk to your bank. Keep your bank informed, particularly if you are going to have a need to secure extra funding or even renew existing arrangements. If fees are being increased it may pay to shop around.
4. Take advantage of the crunch. If you are cash positive, turn the crunch to your advantage. Some businesses may be keener to make a sale, so those with cash may be able to negotiate some great bargains, particularly for early payment!
5. Staffing needs and working hours. Consider asking staff to change their working hours to part-time or flexi-time, with an appropriate drop in total pay. Or ask them to take their holidays now if business is slow. If a skilled member of staff is about to retire ask them to stay on part time, as this may be cheaper than recruiting.
6. Office rent. Ask your landlord if you can change the rent from quarterly in advance to monthly. Or with improvements in technology, perhaps now is the time to consider if you could run your business from home.
7. Don´t forget the marketing. While cutting back on costs can be necessary, it may be tempting to cut the marketing budget. But, it may prove a false economy if sales suffer. While others cut back on their marketing, you may be able to use this to your advantage and keep on marketing to get a larger share of the present market.
8. Renegotiate with suppliers. Review the agreements you have with suppliers for continuing services, such as energy or cleaning. Can you renegotiate any of these contracts to get a better deal?
9. Reduce tax payments on account. Review the projected tax payments for your business. Payments on account for unincorporated businesses can be reduced and reclaimed if you are confident of the taxable profit figure. This is a good reason for getting the accounts completed quickly after the year end.
10. Carry back losses. If your business is likely to make a loss for the current year, quantify that loss as soon as possible and submit a claim to carry back to loss to get a refund from HMRC.
If you would like to meet up to discuss these and other ideas as to what your business should be doing in the credit crunch, please contact us.
For small businesses, it is also worth bearing in mind that we are full business partners for the Sage accounting software.
For further details on the software, whether it be for purchase, upgrade or training, you can give us a call at Clay Shaw Butler.
It is also worth bearing in mind that we have team members here who are specialists in Quick Books software and other accounting packages. They can help with training and ‘hand-holding’ for inexperienced computer operators.
The team at Clay Shaw Butler can be contacted on 01267 228500 or through the website at www.clayshawbutler.com
Looking After Business (March 2012)
Looking after business, the new business page column from the Carmarthen Journal By David Butler, director of Clay Shaw Butler, chartered accountants and business consultants of Carmarthen
Partnerships are all important in an area like West Wales, which has an abundance of community spirit.
Here at Clay Shaw Butler, we like to work hand-in-hand with other businesses to make sure that people get the best possible financial service.
We were particularly glad to hear the news that an independent financial expert from Carmarthen is embarking on a mission to make more people aware of the ‘Attendance Allowance’.
Huw Jones, of KHL Trust Services, suspects that many people are missing out on claiming the benefit.
He is worried that many people don’t realise the ‘Attendance Allowance’ scheme exists and that those who know about the benefit cannot face the paperwork involved in filing a claim.
If you are receiving care from family members or paying for care either at home or in a residential care home you are almost certainly entitled to Attendance Allowance.
The allowance can be for up to £73.60 per week (shortly to be increased to £77.45 per week).
“It is money that has been allocated by the Government to cover care issues,” said Mr Jones. “The pot of money is there, but many people don’t realise it exists, or simply cannot face the headache of doing the paperwork to apply.”
Attendance Allowance is not “means-tested”, so people receiving care could be entitled to it even if they are millionaires or have significant assets in property.
The benefit is not taxable.
Mr Jones works on Attendance Allowance applications on a ‘no win, no fee basis’.
Huw L Jones, FCIB FRSA CeFA, is Director of KHL Trust Services Ltd, of Carmarthen, telephone 01267-221666.
If you think you are eligible for Attendance Allowance, you can also ring the Benefit Enquiry Line for a claim pack. Telephone: 0800 88 22 00.
For advice on other tax and accounting issues, you can contact us on 01267 228500 or log onto our website at www.clayshawbutler.com
Looking After Business (February 2012)
Looking after business, the business page column from Clay Shaw Butler By Nigel Roberts, finance and banking specialist with Carmarthen-based accountants Clay Shaw Butler.
It was Winston Churchill who said, “Those who plan do better than those who do not plan.”
With that firmly ‘front of mind’, my last few columns have focused on different aspects of business planning.
We’ve already covered writing a business plan and those early key decisions.
Now it’s time to focus on other issues which face any new business.
Taxation Tax will become payable on profits made by the business. The rates of tax will be different depending on the structure of the entity. Getting advice on tax planning is crucial. You also need to know when tax will become payable, what you can do to decrease your taxable profits (which may be different to accounting profits) and the most tax efficient way of taking money out of your business for your personal use.
Insurance Ensure you are fully covered for all risks you face in the business. Some policies you may want to consider are :-
motor fleet policies
keyman insurance
public liability
buildings insurance
stock insurance
debt insurance etc
Pensions If you have a successful business, then it can help you provide for your retirement by paying contributions into a pension scheme for you. You will need advice about pension planning
Premises Where is the business going to trade from and who will own the premises? This issue needs careful consideration due to the costs involved in owning/renting property. Consideration should be given to-
suitability of the premises for the purpose
compliance with legal regulations
local byelaws
physical restrictions
While you can make some generalisations about starting up a business, it is always necessary to tailor the strategy to fit your situation. Any plan must take account of your circumstances and aspirations.
Business success can never be guaranteed, but professional advice can help to avoid some of the problems which impact on new businesses.
The team at Clay Shaw Butler can be contacted on 01267 228500 or through the website at www.clayshawbutler.com
Clay Shaw Butler business seminar a big success
The spotlight was put on the latest developments in the world of business at a special seminar staged in Carmarthen.
The event was organised by Clay Shaw Butler, chartered accountants and business consultants of Carmarthen.
“There was an excellent turnout, with a range of different business represented and the topics covered were very informative,” said Clay Shaw Butler consultant Ann Thomas.
One section of the seminar focussed on the latest changes to the Sage accounting software, a package which provides valuable support to many businesses.
Ann said: “We talked about the features of the new Sage upgrade released last month. The release makes many of the routine tasks easier and quicker to do while adding useful new features to improve the effectiveness of the software.
“Installation of the software has been made a lot easier with hardware checks and registration now being part and parcel of the quick set up. This includes networking your Sage onto more than one PC if you need to. The 2012 version also has a quick support homepage which has all the information you need on the technical details of your software in one place.
“The Chart of Accounts function, which helps you set out the format for your monthly management accounts, is user friendly with a preview window now on screen for you to see what any changes you are making will look like straight away. This screen will also show you how taxation is dealt with within Sage, using specific new nominal codes.
“Part of the new software now has the ability to give access to permitted users to view and enter data onto the system via their iPhones or Blackberry.
“It gives flexibility to users and management alike in that they do not need to be in the office now to access the accounts data.
“It will benefit the owner-managed businesses whom have to contend with the ever-changing world of business and to monitor their financials in real time, wherever they are.
“For further details on the software, whether it be for purchase, upgrade or training, give us a call at Clay Shaw Butler.”
The seminar was held at the Cothi Suite at the Halliwell Centre at the University of Wales Trinity St David in Carmarthen.
Chris Ellis, of One Life Financial Planning, talked about current and imminent changes in pensions and NEST (National Employment Savings Trust). NEST is a straightforward workplace pension scheme for employers to use for their UK based workers. It means that employers can provide a workplace pension scheme for all of their workers, including those who may not have had access to a pension arrangement before. NEST also makes it easy for employers to meet the new legal duties that start to be introduced in 2012.
Finally, Donna Purchase, of Red Kite Law discussed the ever-changing world of employment law and, in particular, the changes for employers.
Looking After Business (January 2012)
The Clay Shaw Butler 'Looking After Business' column from the Carmarthen Journal from January.
Those who know me well will often tell you that I talk a lot, particularly when I stray onto a favourite topic.
The fortunes of the Welsh rugby team and the subject of food and drink are two cases in point. But, there again, I think we’ve all got a lot to say about those!
A popular third topic concerns the Sage accounting software package.
For those who haven’t enjoyed one of my monologues on the topic, here are some key points about Sage – Sage is the brainchild of a printer, a Nasa scientist and a computer student.
It is now a global business valued at £3.5bn and has 6.3 million customers worldwide.
The company – originally called Sage Systems, then Sagesoft before becoming known simply as Sage – was set up by printer and entrepreneur David Goldman, with Newcastle University student Graham Wylie and Nasa scientist Dr Paul Muller.
It is celebrating its 30 anniversary.
The company focuses on accountancy software, mainly for the SME (small to medium-sized enterprises) market.
Brendan Flattery is the CEO for Sage UK and Ireland.
He says, “The increasing prevalence of broadband and smartphones has enabled many business people to break away from the confines of their desk, and empowering our customers with anytime and anywhere access to key business information has been a major development.
“It is a very exciting time for Sage and our customers. As new generations of instinctively web-centric entrepreneurs start their own businesses, we expect the proportion of accounting software delivered via the web to increase for small and micro businesses, and innovative cloud products such as Sage One will allow us to meet those needs.
“Twenty per cent of UK employees work in our research & development team and with more than 10% of those dedicated to delivering our online strategy, we are consistently exploring new technologies that will help make it easier for people to run their business.”
Some key facts about sage :-
Sage founded with a £40,000 loan from Barclays.
Group valued at £3.5bn, has 6.3 million customers and operates in 24 countries.
Employs more than 2,300 staff in UK and 13,500 globally. Of these, 1,500 are based in the North East.
One in four UK employees are paid using Sage software.
400,000 UK businesses file their tax returns using Sage software.
One third of FTSE100 companies use Sage's software.
For further details on the software, whether it be for purchase, upgrade or training, you can give us a call at Clay Shaw Butler. It is also worth bearing in mind that we have team members here who are specialists in Quick Books software and other accounting packages. They can help with training and ‘hand-holding’ for inexperienced computer operators.
The team at Clay Shaw Butler can be contacted on 01267 228500.
Clay Shaw Butler is the trading name of Clay Shaw Butler Limited.
Registered in England and Wales. Company No. 6519528. Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.
Details about our audit registration can be viewed at www.auditregister.org.uk under reference C001742711.
The registered office address is 24 Lammas Street, Carmarthen, CarmarthenshireSA31 3AL.
