Latest 'Looking After Business' column from the Carmarthen Journal

 

Looking after business, the business page column from the Carmarthen Journal . . .
by Nigel Roberts, finance and banking specialist 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:
www.businesslink.gov.uk
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 atwww.clayshawbutler.com

The July 'Looking After Business column

Looking after business, the business page column for the Carmarthen Journal (July). 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
If you want to sponsor Ann on her bike ride, see the JustGiving website – http://www.justgiving.com/Ann-Thomas27 Or if you want to sponsor Ann directly, call her at Clay Shaw Butler on 01267 228 500 Email -AnnThomas@clayshawbutler.com

Our column is in the Carmarthen Journal today

The latest Clay Shaw Butler (accountants and consultants)@clayshawbutler 'Looking After Business' column in the Carmarthen Journal today.

We are in the Carmarthen Journal today

The latest Looking After Business column from Carmarthen accountants Clay Shaw Butler is in the Carmarthen Journal today.

Latest column in the Carmarthen Journal today

The latest Clay Shaw Butler (accountants and consultants) 'Looking After Business' column is in the Carmarthen Journal today.

Our column in the Carmarthen Journal today

Latest 'Looking After Business' column from chartered accountants and business consultants Clay Shaw Butler in the Carmarthen Journal today.

New column in the Carmarthen Journal today

The new Clay Shaw Butler column, 'Looking after business', is in the Carmarthen Journal today. It's been written by Ann Thomas.