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.
Looking After Business (December 2011)
The Clay Shaw Butler 'Looking After Business' column from the Carmarthen Journal from December.
It’s the season of goodwill to all men, so I can forgive one of my pals his usual festive joke. “No problems in my business, David,” he tells me. “I still think VAT stands for Vodka and Tonic!” Thankfully, it’s only a joke and he runs his business on very professional lines. When it comes to VAT, it is time to put the serious, business face on. In my last column, I focused on a number of VAT issues.
This week, I put the spotlight on some of the VAT schemes available :-
Invoice basis/Cash basis
VAT returns can be compiled on an invoice basis or on a cash basis. An invoice basis accounts for all trading transactions on the date an invoice or credit note is issued. The cash basis accounts for all trading transactions when the payment is made or the receipt is received. The cash basis can help businesses with cashflow eg bad debt relief does not need to be claimed as the output VAT will not yet have been paid over. There is, however, an upper threshold of £1,350,000 turnover for the cash basis.
Flat rate scheme
To simplify VAT records for smaller businesses, there is the flat rate scheme. This scheme is available to businesses who do not expect their turnover to exceed £150,000 in the next 12 months and their total income will not be expected to exceed £187,500. This scheme applies a certain percentage to total income only. The percentages are set by H M Revenue and Customs depending on the nature of the trade. No input VAT records need to be kept which cuts down on administration time and cost. However, total income includes ALL income ie standard rated, zero rated and exempt supplies. For this reason, it may not be feasible for a business which has quite a number of exempt supplies to apply the scheme. We can help you assess whether the scheme would be advantageous to your business.
Annual scheme
The annual scheme again cuts down on VAT return administration costs and time. Businesses with turnover of up to £1,350,000 net of VAT can use the scheme, which have been registered for at least a year and have not had VAT repayments. Payments on account are agreed with the H M Revenue and Customs and one annual VAT return is prepared.
For further advice on VAT related issues, contact us on 01267 228500.
Looking After Business (November 2011)
The Clay Shaw Butler 'Looking After Business' column from the Carmarthen Journal from November.
‘And now for something completely different’, as they used to say on Monty Python! In my last column, I amused some of my long-standing pals from the old Queen Elizabeth Grammar School for Boys in Carmarthen by quoting Cicero. The theme of the last column was business planning, so it seemed appropriate to use the words of the great Roman orator - “Before beginning, plan carefully.”
In this column, my quote comes from a more contemporary source. It was Elvis Presley, the King of Rock’n’Roll, who said: “I have no use for bodyguards, but I have very specific use for highly trained accountants.” The advice of an accountant in business planning can be crucial.
For example, here are some key topics you will need to focus on in a business plan: -
Registrations
Your forecast figures should help you decide whether you will need to register for VAT and, if you will need employees, PAYE. The H M Revenue and Customs will need to be informed as soon as possible when they become applicable by completing and submitting the relevant forms.
Entity structure
Sole trader – the simplest form since it can be established without legal formality. The sole trader’s business affairs are not separately distinguished from their personal affairs. Partnership – similar in nature to a sole trader but, due to the increased number of individuals involved, a document such as a partnership agreement is drawn up to determine the terms and conditions of the partnership. Limited company – the business affairs are separate from the personal affairs of the owners but there are additional legal requirements to comply with.
What finance do I need?
Most new businesses need external finance to get underway but where do you go and who do you approach? What kind of finance should you arrange? Some examples include :-
hire purchase and lease purchase agreements to purchase equipment
bank overdrafts
bank loans
commercial mortgages
invoice factoring
grant aid and assistance
private investors
You will need to consider that these finance options usually require some form of security to support them.
There are, of course, many other issues, which we will tackle at a later date. My advice is to make your business plan professional in its presentation, with graphical information if relevant. Getting advice from an impartial advisor is also important – whether you come to Clay Shaw Butler or seek advice from other advisors and consultants operating in the marketplace.
The team at Clay Shaw Butler can be contacted on 01267 228500.
Bubbly surprise for businesswoman Natalie
There was a bubbly surprise for Carmarthenshire businesswoman Natalie Jones when she attended a business seminar in Carmarthen.
Natalie was the winner of a bottle of Moet & Chandon in a competition organised by seminar organisers Clay Shaw Butler, chartered accountants and business consultants.Natalaie was at the seminar representing the new Llety Cynin leisure club and conference centre near St Clears
Clay Shaw Butler consultant Ann Thomas said the seminar at the Halliwell Centre at the University of Wales Trinity St David in Carmarthen was a great success.
Business seminar date for Carmarthen
There’s a chance to catch up on the latest developments in the world of business at a special seminar being staged in Carmarthen later this month.
It’s being organised by Clay Shaw Butler, chartered accountants and business consultants of Carmarthen and Porthcawl. “It’s an afternoon seminar with something of interest for everyone – and you get a great chance to do some useful networking,” said Clay Shaw Butler consultant Ann Thomas.
The seminar is on Wednesday, September 28, and runs from 2pm to 4.30pm at the Cothi Suite at the Halliwell Centre at the University of Wales Trinity St David in Carmarthen.
There are a limited number of places available at the seminar – but, if you are interested, you can contact Clay Shaw Butler at – email, info@clayshawbutler.com, telephone, 01267 228500; address, 24 Lammas Street, Carmarthen SA31 3AL.
Ann Thomas and Clay Shaw Butler relationship accountant Sarah Wynne will be staging a demonstration of the Sage accounting software package and talking about how to make the best use of accounts and the internet.
Chris Ellis, of One Life Financial Planning, will be talking 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 will discuss the ever-changing world of employment law and, in particular, the changes for employers.
On Thursday, September 22, a team from Clay Shaw Butler will be attending the Swansea Business Show at The Liberty Stadium, Swansea - http://www.liberty-stadium.com/businessshow/
Developing young talent
Clay Shaw Butler is helping to pave the way in building links with education and have signed up for the innovative GO Wales project, which makes it possible for students and graduates to develop their careers through quality work experience and training opportunities.
“GO Wales is an exciting project and one which should interest any business keen to develop young talent,” said Clay Shaw Butler director David Butler.
This summer, the team at Clay Shaw Butler has been joined by 19-year-old Gareth Thomas, who lives in Carmarthen and studied at Ysgol Gyfun Gymraeg Bro Myrddin.
The 12-week placement is a big stepping stone for Gareth to going to Cardiff University to study Business Management and Finance.
“I am interested in a career in business and finance, so the GO Wales placement with Clay Shaw Butler has been ideal. It has given me a taste of the ‘real world’ work environment and the encouragement to go on and achieve my degree,” Gareth said.
A keen sportsman who plays cricket for Carmarthen Wanderers Cricket Club’s first XI and is also a member of Carmarthen Golf Club, Gareth has enjoyed working alongside Clay Shaw Butler’s business consultant, Nigel Roberts.
Gareth added: “I have carried out a wide range of duties during my stay at Clay Shaw Butler and I have also been working towards the City & Guilds Professional Development Award. This award is an accredited, professionally-recognised qualification that is equivalent to a Higher Professional Diploma.”
Mr Roberts said: “It has been a delight to have Gareth as part of the team at Clay Shaw Butler during his placement. All businesses are aware of the need to build our skills base and ensure that we grow the knowledge economy in Wales. The GO Wales scheme is one way of helping to achieve those objectives.”
GO Wales is managed by the Higher Education Funding Council for Wales (HEFCW) and the project is delivered by University Careers Services in Wales. GO Wales receives funding from the Welsh Government and the European Union Social Fund (ESF).
The project aims to provide almost 4,000 students and graduates with training and development opportunities to prepare them for their future careers.
GO Wales offers a range of services proven to help students, graduates and businesses in Wales including: work placements, funding for training, an online database of jobs in Wales and the Graduate Academy.
Thousands of businesses in Wales have already benefited from the GO Wales programme.
Comment from our Banking and Finance Specialist Nigel Roberts
The late, great Ray Gravell always used to say, ‘West is Best!’
Those of us who live in West Wales know it to be true – and always enjoy repeating Grav’s motto.
In fact, those of us who live in Carmarthenshire will always try and go a step further and argue that the best bit in ‘the West’ is what Welsh-speakers love to refer to as Sir Gar.
Carmarthenshire revels in its gateway location at the end of the M4.
Some would argue that it should now be renamed Royal Carmarthenshire, in recognition of the fact that our most famous citizen, Prince Charles, the Prince of Wales, has a home at Myddfai, near Llandovery.
Others, quite reasonably, argue that Carmarthenshire should be renamed ‘The Garden of Wales’ in view of the fact that we boast two great horticultural tourist attractions – the gardens at Aberglasney in the Tywi Valley and the National Botanic Garden of Wales at Llanarthne, just off the main A48 run into Carmarthen.
There is now, much to the delight of everyone in Carmarthenshire, a third lobby which suggests that the county can be christened the food and drink centre of Wales.
The emergence of Carmarthenshire in this new pre-eminent role follows a trend for greater diversification in Sir Gar’s most famous industry – agriculture.
If Grav’s motto was ‘West is Best’, then the motto for farmers has been ‘adapt and survive’.
And the many and different ways in which farmers have adapted, survived and thrived were on display at the recent Wales True Taste Food and Drink Awards 2010-11 held at the Pembrokeshire showfield in Withybush.
The Wales True Taste Food and Drink Awards are the Welsh Assembly Government’s vehicle for rewarding innovation and excellence in the Welsh food and drink industry, along with the retail and hospitality sectors.
The one thing which is a common factor among the award winners is a desire for quality which helps create a benchmark for products from Carmarthenshire.
Many of the award winners from West Wales will also share a common story – a desire to innovate and adopt an entrepreneurial spirit which ensures their products reach the very top of their chosen markets.
All companies – from award winners to new start-ups – will appreciate that there are many factors ensuring success in today’s economy.
A good quality product, enthusiasm, enterprise and innovation will be among the factors which will play in a company’s favour.
Also central will be a company’s relationship with its bankers.
Here, then, are my Top 10 tips for making sure you have a good relationship with your bankers and fund providers –
For your product, research the market undertaking the necessary diligence.
Use your bank manager or business consultant as a sounding board for new ideas. Their input at an early stage might save time later.
Minimise your borrowing requirement by introducing cash. Family money may also be an option. It’s less formal - and they will not in most cases research your business! It is worth considering that family agreements are formalised.
You can also minimise your borrowing requirement by managing your existing cashflow more effectively. Can terms of trade be improved and debtors managed more efficiently?
Structure a robust business plan and obtain your accountant's input on any financial projections etc.
Do a SWOT analysis on your business (Strengths/Weaknesses/Opportunities/Threats). For the threats and weaknesses what is your contingency and remedy? Remember your business plan will be challenged by your Bank Manager if you require additional or new funding!
Investigate all avenues of grant funding and soft loans. Finance Wales offer micro-loans together with Carmarthenshire and Pembrokeshire Lotteries.
Affordability of any loan debt is paramount. Greater profitability may be needed for an existing business to cover increased loan repayments.
Have your security proposals available. Make sure all parties to the security are agreeable to any arrangement.
Have an exit strategy if the project does not succeed.
Jennifer qualifies at Clay Shaw Butler
Jennifer Bowen has qualified as a Certified Chartered Accountant with leading West Wales accountants and business consultants Clay Shaw Butler.
The qualification is further evidence of Clay Shaw Butler’s commitment to training and developing staff members.
Jennifer, who lives in Whitland and is married with a young daughter, was educated at Whitland Primary School and Ysgol Dyffryn Taf.
She joined Clay Shaw Butler in 2007 as an accounts trainee studying towards the Chartered Certified qualification.
Clay Shaw Butler is accredited as a Platinum status Training Office with the Association of Chartered Certified Accountants. There are currently three trainees working towards the qualification with Clay Shaw Butler. In addition, there are two trainees working towards the Association of Accounting Technician qualification.
Clay Shaw Butler director David Butler said: “I am extremely pleased to welcome Jennifer into the Practice as a newly-qualified accountant. We have Investors in People status and we will continue to invest in the development of Clay Shaw Butler team members.”
Clay Shaw Butler now has eight qualified team members able to assist in accountancy and taxation advice for clients of all sizes.
Clay Shaw Butler expand to Porthcawl
Clay Shaw Butler, Carmarthen’s leading Accountancy practice, will open a new office at The Dunes Business Centre, Porthcawl on Wednesday 13th October.
“We have felt for some time that businesses in Porthcawl were not receiving the proactive and supportive service they require to progress, succeed and indeed deserve,” said David Butler, Director.
Ann Thomas, leading Consultant at Clay Shaw Butler, confirmed “We aim to fill this gap in Porthcawl as we believe our client’s accountancy needs are best serviced by a local, personal and professional team.” Ann added that appointments can be arranged with a qualified member of staff to suit the clients’ busy work schedules.
The Dunes Business Centre is the brainchild of Chris Ellis, Managing Director of One Life Financial Planning Ltd. He is a Porthcawl local and well known in the town. Chris’ objective was to create a one stop shop for independent financial advice, providing clients both new and old with a complete financial package. His association with Clay Shaw Butler will ensure that clients can obtain an all round service in one place from approachable and qualified people.
Chris says “CSB have acted as our accountants since January 2007. We have found them to be professional, proactive and efficient in all aspects of their work. The staff are very helpful and friendly and provide excellent support to our business. We look forward to a long term relationship with Clay Shaw Butler and we would have no hesitation in recommending the company to any prospective client”.
Clay Shaw Butler offer the full range of professional services specialising in Sage support and training, tax planning, business mentoring and consultancy, banking and finance support.
“Our Porthcawl office is a really exciting proposition,” said Ann Thomas. “I can’t wait to start work with our new South Wales clients.”
Sports Aid Cymru Wales
We were pleased once again on Friday 19 November 2010 to support Sports Aid Cymru Wales at their eighth Charity Lunch.
Clay Shaw Butler were well represented by David Butler, Ann Thomas, Nigel Roberts, Amanda Russell and Caroline Gibbons. Invited clients and friends including Chris Jones, (Chief Executive of Cerebra), John Lewis and Michael Griffiths of Morris Roberts Solicitors, Wyn Thomas and Jason Evans (Castle Scaffolding), Ken Duxbury (Chris Cars) and Betsan Thomas (Lowless & Lowless Solicitors).
Leading West Wales chartered accountants and business consultants Clay Shaw Butler have welcomed the start of Global Entrepreneurship Week – a campaign which puts the focus on job creation.
“The slogan, ‘It’s time to make a job, not take a job’, should make us all sit up and think,” said Clay Shaw Butler director David Butler.
“It is in hard economic times such as now that our fighting spirit and entrepreneurial flair needs to come to the fore.
An evening for the ladies was held at the Clay Shaw Butler office on Wednesday 2nd June 2010 where Sue Boughton‐Thomas of My Secret Kitchen attended to give us a flavour of how we can spice up and refresh our day to day cooking, as well as make wonderful BBQ spreads and party food.
A dozen or so clients together with staff socialised while listening to fantastic recipe ideas and tasting the tantalisingly exciting food on offer from Chocolate Brownies to Jumping Jack Chilly Jam,Chocaberry mix to beer bread mix!
As part of our Ladies’ Social Events calendar, we invited clients and professional contacts to the Ladies Day at Ffoslas recently. It was a fantastic excuse to get dressed up and to mingle with the race-goers.
A table was arranged in the Blacksmith’s Marquee where we had a lovely buffet lunch together with dessert, and not forgetting the champagne and endless bottles of wine!
Clay Shaw Butler employees recently took to the skies at Go Ape in Pembrey Country Park, before whizzing down the zip wires to a well deserved meal!!
An exhilarating afternoon was spent climbing rope ladders to reach the tree tops, moving on to the high level crossings, tarzan swings and then scaling down the cargo nets.
Clay Shaw Butler is a trading name of Clay Shaw Butler Limited, a company registered in England and Wales under registration number 06519528. The registered office address is 24 Lammas Street, Carmarthen, Carmarthenshire SA31 3AL.
