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businessupdate News…


Confidence is returning


From page 1 “All of these figures are showing that


the Newport business community is beginning to regain confidence, but it’s important that we do not become complacent and recognise that many businesses are still working below capacity. “Now it’s more important than ever


for more businesses in Newport to sustain this recovery by looking into opportunities with overseas markets. Those selling to the UK and further afield not only benefit from the lower cost base associated with operating out of Wales, but also tap into new markets and cast their net wider. “With the falling rate of inflation,


competition and taxation have now become the major concerns for businesses in Newport, but by looking further afield for opportunities through exporting the threat of competitor clashes can be diminished.” Leighton Reed, tax director at


Broomfield and Alexander, said: “It is interesting to note that taxation remains one of the biggest concerns for businesses. The government’s recent ‘budget for business’ will hopefully play a part in reducing this anxiety, which can also be reduced throughamore stable tax regime and lower tax rates. “In addition, the headline reduction in


company tax rates, together with better tax incentives for research and development, ought to ease concerns. “Organisations should always


examine whether they have the right structure for business; acompany might be more tax efficient for partnerships and sole traders. The tax regime ought to become more stable, thereby providing a more solid platform to encourage business to invest, as the Government seeks to publicise and consult upon tax


Check out


southwalesargus.co.uk/business for more on local business


Dan Smith, of M4 Property Consultants


Theprivate investor returns


returning to it after the crash of 2008. M4 recently completed the sale of Nedern


N


House, the former estates office on the Severn Bridge Industrial Estate in Caldicot to aprivate investor who has returned to the commercial property market after an absence of five years. It is also in negotiations on two further deals and actively searching local opportunities for new private investors. The increase in interest shown by private


investors can be attributed to acouple of key factors, according to Dan Smith, director of M4


ewport based M4 Property Consultants is reporting an increase in the number of private investors either entering the commercial property market for the first time or


Property Consultants. He said: “It is aprime time to invest in amarket


where prices are realistic and expected to increase. Industrial units and office space make a profit from both the rental income and capital growth in the price of the property, enabling investors to benefit from growth in these over the next couple of years. “On average the total returns on commercial


property investment has been generally favourable compared to other investment vehicles. “There are commercial properties opportunities in South East Wales. We are making our investors aware of the stock available and where they have specific requirements we are using our local knowledge to identify the units or land and make enquiries,” he said.


AdvisorsgetanewMD


One of South Wales’ leading independent firms of professional advisors has ushered in its new financial year with anew managing director. Ian Thomas is to lead


Broomfield&Alexander, taking over the role from Robert Preece, who held the position for almost 10 years.


Currently Audit Director, Ian


worked for 17 years with aleading international firm in Cardiff before joining Broomfield&Alexander in 2002, offering commercial advice on audit, accounting and corporate finance issues, and working with abroad range of businesses includingUKsubsidiaries of large international groups. Ian said: “Robert has moved the firm


on in great strides during his time as managing director. “My aim is to build on that legacy. Weare proud of the high standards of


Ian Thomas and Robert Preece, of Broomfield & Alexander


service and personal attention to client care which have characterised Broomfield&Alexander for 100 years, with each project led by adirector who draws together ateam offering the right blend of specialist expertise. Iwill ensure that ethos and approach is maintained and developed.” Robert will be continuing as a


director of Broomfield&Alexander.


Tuesday April 17, 2012


Financially speaking


By Elliott Buss, tax manager, UHY Peacheys


While the ‘granny tax’ and the 50 per cent tax rate dominated the headlines in this year’s budget, we have received anumber of queries from clients with regards to the changes in VAT and listed buildings. Currently repair and maintenance


costs to listed buildings attract the standard rate of VAT while an ‘approved alteration’ is zero rated. From October 1, 2012, all works


carried out on listed properties will be at the standard rate of VAT regardless of whether there is an alteration or a repair.


There will be anti-forestalling rules


applied to such projects agreed between the March 21 and October 1 to deter people from benefiting from the zero rate when not starting the work until after October 1. This is avery unwelcome surprise


to many businesses, especially charities who occupy such buildings. There is widespread belief that this


change will discourage people from making improvements to listed buildings which may have adownturn on the construction industry. However, the five per cent rate for


conversions still exist which is often common for listed buildings. This is in relation to properties which haven’t been lived in for awhile or where the number of dwellings are altered. If you believe that any of these


issues affect you or if you wish to discuss any other areas of tax then please contact our Tax Manager Elliott Buss –e.buss@uhy-peacheys.com


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