Sector Focus Firm advises


on acquisition Bracebridge Corporate Finance has advised on the acquisition of Quantum Risk Management Limited, trading as Quantum Compliance, by Marlowe plc. The firm was acquired for


£4m and a contingent consideration of up to £3.2m on the achievement of certain targets. Quantum is headquartered


in Worcestershire. It was founded in 2003 by Mark Ball, Gordon Allan and Phil Jones, together with investment from funds managed by Birmingham based Midven. Quantum is a leading


provider of health and safety consultancy services to commercial organisations across the UK. Quantum conducts health


and safety audit and consultancy services for approximately 8,000 commercial properties each year, providing specialist advice on managing health and safety risks and ensuring compliance with a wide variety of health and safety regulations. Marlowe plc is a specialist


services group focused on developing companies which assure safety and regulatory compliance. Bracebridge advised the


shareholders of Quantum on their strategic options and advised on the sale to Marlowe. Andy Moore, managing


director at Bracebridge, commented: “We are delighted with the outcome of this transaction for all parties involved.” Alex Dacre, chief executive


of Marlowe plc, said: “The addition of Quantum to the group further strengthens Marlowe's leading position in the property-related health, safety and compliance sector and enhances our ability to provide an end-to-end solution for our customers' safety and regulatory compliance needs.” Midven chief executive Tony


Stott said: “We have worked closely with the Quantum management team who have grown the business significantly since our original investment and are delighted with this outcome which delivers strong returns for our investors while providing a good home for the future development of the business.”


72 CHAMBERLINK October 2019


Finance


Avoid getting caught out by Inheritance Tax


A Birmingham wealth specialist is urging taxpayers to look closely at how they can minimise their exposure to one of Britain’s most reviled taxes. The tax is Inheritance Tax (IHT)


and the reason for its unpopularity is that it is levied on the estates of those who have already paid tax in their lifetimes. Steve Johnson, managing partner


of Ward End-based investment specialist S Johnson Wealth Management, said that IHT was the ‘possibly the most unpopular tax of all’, and it was currently under scrutiny by the Government. However, he said that until changes were made to it, taxpayers should look closely at ways of handing over less of it to the Government on their demise. He said: “This is a fairly punitive


tax levied in most cases at 40 per cent, and that is twice the rate of the basic tax rate. “There is a Nil Rate Band (NRB)


allowance of £325,000 before tax is levied and additionally a Main Residence NRB allowance of £150,000 rising, to £175,000 in the 2020/21 tax year. “The problem, of course, is that


property prices have risen significantly and people have


involved were not limited, there would be an impact if the beneficiary suffered death, divorce, illness or got into debt. Of the other devices mentioned,


Mr Johnson said of life insurance: “This can work, providing you are in good health. You take out cover and place it under trust so that it falls outside of your estate and on pay-out it clears any IHT bill without exacerbating the tax situation. “There are other more extreme


Steve Johnson: Taxpayers should plan for IHT


themselves inherited funds, and in line with most taxes, the better that you do, the more that you pay, including the most wealthy losing some allowances.” Mr Johnson added that there


were a number of ways that taxpayers could pay less IHT, including allowances, life insurance, charitable donations and a scheme known as Potentially Exempt Transfers (PETs). The latter is where a taxpayer


gives away their money and tries to live for seven years thereafter. Mr Johnson said although the sums


measures that can be taken – such as moving abroad – but the main message is: plan to spend it, lose it, give it away, leave it in pensions or to charities – if you don’t do some planning, then it’s a case of dying and getting taxed.” He said that while the above may


sound like simple advice, he said that each scenario could in fact turn out to be a complex situation, with various traps and pitfalls, and he said advice should be taken from financial experts in all cases before acting. Mr Johnson added: “Finally and


interestingly, money held in personal pension funds is not taxable under the IHT regime, and it is often worth spending your pension money last.”


Maritime secures HSBC funding


Maritime Transport, a market- leading transport and logistics operator, has secured an eight- figure finance package from HSBC UK to help support the firm’s expansion plans. The funding has allowed the


business to develop its existing freehold property portfolio. Maritime has used part of the


funding to purchase new equipment to facilitate the development of rail-borne services and to help take long-haul freight off the road. The company announced the


launch of ‘Maritime Intermodal’ and a stream of new road-rail services to and from major container ports. A total of six new daily services


have been launched from Felixstowe, London Gateway and Southampton, to Maritime’s inland terminals at Birmingham Intermodal Freight Terminal (BIFT), Trafford Euroterminal and Wakefield Europort. At the end of the year, East Midlands Gateway will open for business, and together with a new


intermodal and conventional freight rail terminal at Tilbury which opened in June 2019, will help Maritime offer new services to train operating companies, container shipping lines, freight forwarders and cargo owners in the UK. HSBC UK has supported these


developments with working capital and asset finance loans. Alan McNicol, executive finance


director of Maritime Transport, said: “We are delighted to partner with


HSBC UK. Our strategy is a natural development for the company and HSBC’s understanding of our requirements made them the obvious choice for Maritime.” Simon Pyatt, area director for


corporate banking HSBC UK, said: “Maritime is an extraordinary business which has grown exponentially under the stewardship of chairman and owner, John Williams, and his management team in the last 18 years.”


On the right track: A Maritime liveried train at Birmingham Freight Terminal


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