pensions 23 Auto-enrolment: is it really that bad?


As with any major change in workplace legislation, the prospect is daunting – but often worse than the reality. James Alesbury, head of payroll at HWB, says that with this in mind, auto-enrolment may not be as bad as the business community fears


When Real Time Information (RTI) was announced, payroll professionals cursed the thought of changing time-honoured, structured processes that, in their opinion, did not need updating at all. But after an initial 18 months of HMRC playing catch-up, we started to see something that not only benefited HMRC but also businesses and payroll professionals.


And then came automatic enrolment ... heavily regulated and adding an additional layer of bureaucracy and cost for the small and medium sized business especially – just as it appeared we were beginning to pull out of recession.


It soon became apparent that this is an area where businesses needed support and more specifically, reasonably priced solutions. As a team we set about looking for just that.


Following months of hard work and hard-won experience we can now provide an auto- enrolment solution that minimises the impact on the small and medium-sized business.


The HWB payroll team acts as the MBO of Dalepak


Completion Date: 18/04/16 Target: Dalepak


Acquirer: Management team led by Sovereign Capital Deal Value: Undisclosed


Details: HMT LLP, led by partner Andrew Thomson, director Peter Wear and manager Antonia Fernandez undertook financial due diligence of Northampton-based logistics group Dalepak in respect of the MBO funded by Sovereign Capital Partners and Crescent Capital


Funding: Sovereign Capital Partners, Crescent Capital and RBS Legal Advisers: Eversheds Financial Due Diligence: HMT Commercial Due Diligence: Apex Insight


Completion Date: 04/16 Target: Blis Media Acquirer: Unilever Ventures, Endeit, Beringea Deal Value: $25 million


Details: Meridian investee company Blis completed a $25m international PE fundraise through Unilever Ventures and Endeit to continue its market leading growth. Blis, a provider of leading behavioural and location based advertising tools is now able to look ahead and continue to expand the company from its current position of eight offices around the globe


Legal Advisers: Fox Williams LLP; Shoosmiths LLP


administration hub for businesses, arranging the set-up of the scheme and maintaining ongoing compliance including necessary assessment, record-keeping, employee notices and uploading of the pension data.


Pensions are a complicated area, so for the small to medium-sized business, this is an effective solution to meet the requirements of the new legislation.


HWB does not offer the pension scheme, but it does ensure you can take advantage of a commercial, flexible pension plan with minimal effort required from the business.


With good quality processes and reliable software, auto-enrolment compliance can become the next RTI. The mountain it once was has transferred a realistic service that no longer requires double the work hours we all initially expected.


By being proactive and looking at ways to maximise the benefits while minimising the impact, every business can, HWB believes,


Blis Media Acquisition of Centric Systems


Completion Date: 15/04/16 Target: Centric Systems Acquirer: Equity Networks Deal Value: Undisclosed


Details: HMT LLP led by partner Mark Lucas and associate director Jez Quigg advised the shareholders of Centric Systems on the disposal of the business to Equity Networks


Legal Advisers: Lamb Brooks Corporate Finance Advisers: HMT


The Mulberry House School secure finance


Completion Date: 03/03/16 Deal Value: Undisclosed


Investment in Orchid Mantransco


Completion Date: 18/03/16 Target: Mantransco Acquirer: Ardula Deal Value: Undisclosed


Details: WK Corporate Finance has advised the sellers of Mantransco, a specialist brick and block haulier, to Ardula, a sand, gravel, topsoil and muck away waste disposal business


Corporate Finance Advisers: Rob Holmes and Louis Nutland of WK Corporate Finance


Legal Advisers: Richard Atcherley and Anna Robinson of Paris Smith


THE BUSINESS MAGAZINE – SOLENT & SOUTH COAST – MAY 2016


Completion Date: 04/04/16 Target: PC Cox Group Acquirer: Sulzer (UK) Holdings Deal Value: Undisclosed


Details: Henmans Freeth advised the shareholders on the sale of PC Cox, a leading manufacturer of handheld sealant and adhesive dispensers for industrial applications, to Sulzer strengthening Sulzer’s position as a leading solution provider in the area of mixing, dosing and application systems


Legal Advisers: Henmans Freeth (Leon Arnold and Malin Svanberg Larsson – corporate; Claire Boyce – tax; Laura Hodgson – property) for the shareholders and DLA Piper UK LLP for the acquirer


Details: RSM UK's lead advisory team assisted The Mulberry House School to negotiate funding for a major building project to significantly increase the size of the school


Funding: Lloyds


Financial Due Diligence: RSM: Ian Wherry, partner; Mark Colling, associate director; Arvin Feltham, executive


Next Deadline The next Deals Update will be in our June issue


Deadline for submissions is Monday May 9 To submit deal information or to advertise on this page contact:


Steve Banbury • 0118-9766414 • steve@elcot.co.uk Elcot Publications is not responsible for the accuracy of information in the Deals Update section which is supplied by individual firms


www.businessmag.co.uk


absorb this significant change in workplace pensions.


Details: James Alesbury james.alesbury@hwb-accountants.com 023-8046-1200


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