Associate role at Hart Shaw for successful Accountant

Hart Shaw Chartered Accountants & Business Advisers is delighted to announce Natalie Bracey as a new Associate within the Sheffield based firm.

Natalie Bracey, the new Associate at Hart Shaw

The role is designed to support the ongoing succession of the firm and the appointment of Natalie as Associate is likely to lead to Partnership in the future.

Having started at Hart Shaw in 2004, Natalie has over 10 years’ experience advising clients of various sizes covering a wide range of industries. Natalie spent the last 3 years managing in the Business Services Department, focussing on delivering strategic direction and client care.

Natalie comments about her appointment: “During my time at Hart Shaw I have seen the firm grow and undertake various significant developments, however, one thing has remained constant throughout and that is the firm’s dedication to providing the best client service; working with our clients to help them achieve their business and personal goals.

“I am so proud to be part of such a hardworking and motivated team and would like to take this opportunity to thank the partners, staff and clients of the firm, past and present, without whom I would not be in this position today.”

Managing Partner, Martin McDonagh adds: “The Partners of Hart Shaw are pleased to announce that Natalie Bracey has been promoted to the role of Associate as of April 1^st 2015 and in addition to her existing client base she will take on responsibility for a portfolio of clients.

“Natalie will also be responsible for bringing fees into the firm, enhancing the reputation of Hart Shaw and driving the business forward in line with our corporate objectives.

“Natalie’s appointment illustrates our desire to promote and invest in our staff members and, that with the right attitude and work ethic, this opportunity is available to all.”

Natalie comments about the future at Hart Shaw: “One of the main reasons why I enjoy being a part of Hart Shaw is that we offer a wide range of expertise and specialisms to enable us to service all of our client’s needs, but tailor this service specifically to treat each one of our clients as individuals.

“Along with increasing Hart Shaw’s capacity, I plan to strengthen our service offering to businesses in the region and further develop the firm’s commitment to delivering a quality service to clients, whilst progressing the business and our skilled team.

“I will support and build on Hart Shaw’s continuous plans for growth by bringing enthusiasm and providing fresh ideas and a new perspective to the team.”

 

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ACAS Early Conciliation and Mediation to become compulsory for employment disputes

Employees need to be aware that ACAS will now have to be notified before a claim is lodged at an employment tribunal.

Under the new rules, this will be made compulsory all claims of unfair dismissal, discrimination, redundancy claims and equal pay.

Once ACAS is notified, a conciliator will then make contact with both parties and seek a resolution and only when that fails, can a claim be lodged.

Under the scheme additional time is granted before a claim can be issued. If there is an interest to resolve the matter, this extra time gives both parties the opportunity to explore other methods of resolving a dispute, such as mediation.

The mandatory ACAS early conciliation (EC) regime came into force on 6 April. For those claimants lodging claims on or after 6 May 2014, it will be compulsory to follow the EC process prior to submitting a claim. Failure to do so will mean any claim will be rejected.

Mediation has high rates of success and can take place at a workplace or neutral venue, where parties can work together in a constructive way to achieve a mutually acceptable outcome and avoid recourse to Tribunal.

The EC will only come to an end if the ACAS conciliation office believes there is no reasonable prospect of achieving conciliation, if either party refuses to conciliate or withdraws the process or if discussions fail.

Employees and employers should ensure they fully understand the new procedures before submitting or fighting employment claims.

Settlement Agreements

Guest blog from Jon Curtis of Ironmonger Curtis Solicitors.

Jon Curtis is a Sheffield based employment law solicitor with Ironmonger Curtis and has many years’ experience advising local employers and executive employees.

Settlement Agreements – what are they ?

If two neighbours have a legal dispute then reach a settlement, the parties don’t have to use any particular form of

Jon Curtis, Partner at Ironmonger Curtis LLP

words, or even write the terms of settlement down. They can just agree a deal orally and it is probably legally binding (as long as they can prove they did actually do a deal).

For employment disputes the law is different. An agreement settling statutory claims between  employers and employees has to be written down, it has to be signed by the employee’s own (independent) solicitor, and certain other formalities need to be complied with.

The reason for this is that generally speaking the bargaining position between an employer and an employee is not a fair one. Often, the employer holds all the cards (although not always) and has considerable sway over even a former employee, in terms of references and so on. For that reason the Government deemed it good social policy to ensure that the agreement was always in writing and the employee had independent advice.

Common terms in settlement agreements

Generally speaking, the employer pays some money in return for a promise that the employee will not bring claims.

How much the employer pays depends entirely on the circumstances. Often, there will be a payment of notice pay, an amount for accrued but untaken holiday pay and commonly there may also be a redundancy payment. In many cases there is also a payment to the employee specifically for signing the agreement. This is a ‘without obligation’ payment (called an “ex gratia”) which is the employee’s inducement for signing the agreement.

The size of the ex gratia payment depends on certain key factors, for example:

1. The strength and value of the employee’s claims (if any);
2. The goodwill the employer has towards the employee (or lack of it);
3. The relative bargaining strength and mental strength of the parties involved;
4. The desire to keep matters confidential (this can cut both ways); and
5. The desire for a speedy settlement.

The employee is often required to keep matters (particularly the size of the employer’s payment) confidential, and is required to give an undertaking in this regard. It is for this reason that settlement agreements are sometimes called “gagging clauses” in the popular media.

Often the employee will want a reference, and indeed will want the wording of that reference set down in black and white. Employers will often agree to this as long as they are able to change the reference if substantial new facts come to light which change the validity of the reference.

Sometimes employers wants certain warranties or promises; for instance that the employee has not secretly committed gross misconduct in the months leading up to termination. It would be very galling for an employer to sign an agreement, find out the employee has stolen from them, and still be legally required to pay the termination payment. Therefore, sometimes there is a commitment that the employee will repay the ex gratia figure if key terms of the settlement agreement are breached.

Some claims cannot be settled

It is always worth remembering that settlement agreements cannot settle all employment claims. There are two important exceptions (although there are others):

1. A failure to inform and consult with appropriate reps on collective redundancies;
2. A failure to inform and consult under the TUPE Regs or a failure to provide the employee liability information.

What costs are involved with a settlement agreement?

Generally a simple settlement agreement can be drafted by a specialist lawyer within an hour or two. Obviously, this time goes up if there are any complex issues involved.

The employee then takes the agreement to their own solicitor. The employer traditionally makes a contribution towards the employee’s costs. Solicitors normally want a minimum £250 plus VAT for this advice.

Of course these costs come in addition to the payments made to the employee and legal costs can rise quickly if there are protracted negotiations over the terms.

What is a protected conversation?

The government have recently introduced a new concept: that of the protected conversation.

In simple terms, an employer is now able to propose a meeting to an employee at which an offer to terminate the employment is tabled. There are certain formalities to comply with.

If the employee accepts the offer made, a settlement agreement would normally be drafted, recording the agreed terms of departure.

More information about settlement agreements can be found here.

Jon Curtis can be contacted on T: 0114 272 1903 or Email: jon.curtis@ironmongercurtis.com

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Money Matters – Spring 2013 newsletter

The Spring 2013 edition of Money Matters, Hart Shaw’s quarterly newsletter is now available to download from our website.

Click here to download your copy.

Disposing of a business can be complicated and it is important to plan the disposal to make the most of any reliefs available. Our cover article looks at a recent tax case which highlights a particular issue for self-employed businesses looking to claim Entrepreneurs’ Relief.

We also look at the biggest surprise announced in the Autumn Statement, the tenfold increase in Annual Investment Allowance for businesses. This isn’t as straight forward as the headlines would have you believe so make sure you read our article to see if you can benefit.

Other areas covered include a review of the benefits of small companies transferring their trades back to the shareholders, potential changes to the way small unincorporated businesses can calculate profits and the outcome of a recent case on a motor expenses policy which was questioned by HMRC.

Along with news on a more generous CGT treatment of certain share options, the new ’employee shareholder’ employment status and family pension schemes we are sure you will find something of interest.

Now is an ideal time to turn your mind to a review of your personal and business tax strategies, this issue includes a special ‘Year end tax planning’ supplement which includes many tax efficient tips you may wish to consider.

Click here to download the Year End Tax Planning supplement.

In addition to the newsletter there are special briefings where we look in more detail at:

Resident or not?

Liability to UK income tax and capital gains tax is dependent, very significantly, on the residence status of the individual. In recent times the determination of residence, for some, has become increasingly uncertain following recent case law decisions and current HMRC approach. To help you take appropriate action, where required, to secure resident or non-resident status when arranging your tax affairs our briefing outlines the new proposed legislation for the ‘Statutory Residence Test’ which is set to be introduced from 6 April 2013.

Employer update 2013

Real Time Information (RTI) is the most radical change to payroll procedures since PAYE was introduced and will be mandatory for most employers from April 2013. Our briefing provides you with an overview of the new rules, along with practical summaries of other pertinent issues including an update on pensions auto-enrolment; the new employee-owner contract; and parental leave and flexible working changes.

Please contact us if you have any questions regarding any of the articles or tax planning tips we have included in our newsletter or if you would like further information on a topic we haven’t covered. Your views are always important to us and we would welcome your feedback.

Brendan Hall, Marketing Co-ordinantor

T: 0114 251 8872, Email: brendan.hall@hartshaw.co.uk

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£95m boost for small businesses

Small and medium sized businesses in England could benefit from £95 million in government investment.

The government funding, announced on 10 November will support small and medium-sized enterprises (SMEs) considering investing in new capital assets. The government expects the funding to unlock around £500 million of new investment and create at least 4,000 jobs.

The money forms part of the government’s £1.4 billion Regional Growth Fund, which supports projects that can create jobs, are based in areas dependent on the public sector and are supported by private sector investment.

The new scheme will provide grants designed to support SMEs considering investment in new capital assets and creating new employment but which have been unable to secure commercial funding for their projects.

These schemes will directly help SMEs that want to invest and create new jobs. They will deliver a shot in the arm to local communities and help small businesses drive local growth.

RBS, NatWest and HSBC have agreed to facilitate the distribution of the £95 million. To qualify for the scheme run by NatWest and RBS, SMEs need a turnover of less than £25 million. To qualify for the HSBC scheme the SME will need a turnover of less than 50 million euros.

SMEs can qualify for a grant if they are going to invest in new capital assets, such as plant and machinery, and create new jobs but cannot get normal bank finance. Grants of up to £500,000 will be awarded alongside the award of a new bank loan on commercial terms.

For further information about business grants please contact Steve Bell, Head of Corporate Finance on T: 0114 251 8850 or email: steve.bell@hartshaw.co.uk.

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The Business of Timberline Limited sold to Metalliform Holdings Limited

Following the appointment of Administrators from Hart Shaw, the business of Chesterfield based outdoor play equipment manufacturer, Timberline Ltd has been sold to Metalliform

Timberline Limited sold to Metalliform Holdings Limited

Holdings Ltd.

Timberline, which operates nationwide, also manufactures timber buildings & shelters from two large factories on the Foxwood Industrial Park, and has been trading for over 20 years. The Company suffered a severe down turn in business, as a result of the impact of the public sector spending cuts in the education market. The Company was placed into Administration on 2^nd November 2011 and Christopher Brown & Andrew Maybery, partners at Hart Shaw LLP, in Sheffield were appointed its Joint Administrators.

Metalliform, an experienced school furniture and stadium seating manufacturer based in Barnsley, are ideally positioned to turn the business round whilst also introducing new options into the product range.

Joint Administrator, Christopher Brown of Hart Shaw LLP, said: “Following our appointment we continued to trade the business while we marketed it for sale. We are delighted that the sale of the business is now complete. This is a fantastic outcome for all stakeholders – employees and creditors – of the business and the acquisition by Metalliform has saved 45 jobs.”

The Joint Administrators received support from the Corporate Finance team at Hart Shaw. Steve Bell, Head of Corporate Finance, said “The underlying business of Timberline has strong brand recognition and we attracted a high level of reputable companies looking to secure the business. The nature of the administration was such that we had to react very quickly and were able to prepare the information pack and arrange site visits shortly after appointment with the result that the sale was completed within 6 weeks.”

Metalliform has manufactured furniture for schools, colleges and universities for more than 60-years.  The company employs 90 staff at its Barnsley production site and has a turnover of £8m.    

Peter Brier, Chief Executive of Metalliform Holdings, said: “Timberline is a business that has a good customer base and a skilled workforce. We are very pleased to have concluded this deal quickly as this presented the best chance to preserve jobs. There are good synergies between the two businesses in terms of operating markets and manufacturing capabilities. We plan to use these to the benefit of both businesses.”

In addition to school furniture, Metalliform also manufactures and installs sports stadium seats through its subsidiary company Arena Stadium Seating. 

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