HMRC warns self-assessment tax filers to be on the lookout for scammers
HM Revenue and Customs is warning filling in Self Assessment tax returns to be on their guard following the Self Assessment deadline after more than 570,000 scams were reported to HMRC in the last year.
At this time of year, Self Assessment customers are at increased risk of falling victim to scams, says HMRC, even if they don’t mention Self Assessment. They can be taken in by scam texts, emails or calls either offering a ‘refund’ or demanding unpaid tax, thinking that they are genuine HMRC communications referring to their Self Assessment return. In the 12 months to January 2022, nearly 220,000 scams reported to HMRC offered bogus tax rebates.
Criminals target unsuspecting Self Assessment customers to try and steal money or personal information. They use phone calls, texts and emails to try and dupe citizens, and often mimic government messages to make them appear authentic. In January 2022, phone scams rose to 3,995 compared to 425 reported in April 2020.
Myrtle Lloyd, HMRC’s Director General for Customer Services, said: “If someone contacts you saying they’re from HMRC, wanting you to transfer money or give personal information, be on your guard. Never let yourself be rushed, and if you’re in any doubt then check our ‘HMRC scams’ advice on GOV.UK.”
HMRC gave customers an extra month to submit a completed tax return and if customers filed by 28 February 2022, they would avoid a late filing penalty. More than 11.3 million customers filed their Self Assessment tax return by 28 February, with more than 1 million of those taking advantage of the extra time by filing in February.
Customers have until 1st April to pay an outstanding tax bill or set up a Time to Pay arrangement to avoid receiving a late payment penalty. Interest has been applied to all outstanding balances since 1st February.
Customers can report suspicious phone calls using a form on GOV.UK. Customers can also forward suspicious emails claiming to be from HMRC to phishing@hmrc.gov.uk and texts to 60599.
Doncaster formally launches bid to be nation’s rail HQ
Doncaster has today formally launched its bid to host the HQ of Great British Railways, the new body that will run the country’s rail network.
The bid is backed by civic leaders and Chambers of Commerce across the region. If successful, GBR’s HQ will bring hundreds of high-skilled jobs to the region. It will create many more in the broader rail sector that will benefit from the extra investment and talent it will attract.
In support of the bid, CEO of Doncaster Chamber Dan Fell, said: “Doncaster is the right choice for GBR’s HQ. We are a community of rail families. Our region may be steeped in rail history, but it’s our future too. We built the Flying Scotsman and Mallard. But we also maintain today’s fleet of new LNER trains.
“Our rail industry employs 20,000 people across 200 companies. Whatever your focus within rail or logistics, you can make your career here with the biggest names in the trade. Network Rail, Unipart Rail, Hitachi, DB Cargo, Volker Rail – all have chosen South Yorkshire. The Advanced Manufacturing Research Centre, which brings together leading producers from around the world, is based at the University of Sheffield. The National College of Advanced Transport and Infrastructure (NCATI) caters to the range of careers in rail.
“This new HQ will be just a short walk from Doncaster’s East Coast Mainline station with fast onward connections by rail and road to the rest of the country.
“If we win, it will mark a major milestone in our economic revival – underpinning the growth of one of our most promising sectors. It will prove how far ‘Team South Yorkshire’ has come in working together to secure transformational investments in our economy.”
Mr Fell added: “The scale of support from businesses and communities for Doncaster’s bid is becoming very clear. The region’s Chambers, which jointly work with more than 20,000 businesses a year and represent members employing more than 422,000 people, throwing their weight behind this campaign is significant. We are all determined to maximise this opportunity for our region and our business communities; we stand ready to work with our partners, businesses and Government to make GBR’s move to the Doncaster as resounding success.”
New vinyl pressing plant creates jobs in Middlesbrough following investment
Middlesbrough-based vinyl pressing business, Press On Vinyl, is set to create as many as 46 new jobs in the region across the next three years, thanks to a £350,000 investment from NPIF – FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund.
Opening a new state of the art pressing plant at Tees-Advance Manufacturing Park (TeesAMP) in June 2021, the business has been fitting out its operation ever since.
It pressed its first piece of vinyl at the end of January, and now plans to turn up the volume and be in full production by April. With two pressing machines operating, its team aims to press as many as 50,000 records per month, focused on independent artists and labels, small-run releases, and local musicians.
The NPIF investment will be used to support working capital requirements through the start-up phase of the business and the deal was facilitated by Keith Charlton, FW Capital deputy fund manager.
FW Capital deputy fund manager Keith Charlton said: “Press On Vinyl is a new business with an impressive management team that will open at an opportune time for vinyl sales. Vinyl records are expected to outsell CDs as a musical format this year for the first time since 1987, creating huge demand at pressing plants. This has led to a strong pipeline of business for Press On Vinyl.
“We are delighted to have played a role in the creation of this new company, which will bring 46 jobs to Tees Valley and will hugely benefit the local economy.”
David Todd, Press On Vinyl commercial director, said: “Due to the rise in demand for vinyl, pressing plants around the world are running at capacity, meaning smaller, independent artists are missing out. Our new business will prioritise local artists, which will make a huge difference to the Teesside music scene.
“This investment from FW Capital will support us as we launch this exciting new venture and create 46 jobs for the local economy. We are grateful to Keith and the NPIF – FW Capital team for the support.”
CBI says firms are keen to do what they can in response to Ukraine crisis
Businesses are keen to assist refugees arriving in the UK by working alongside ministers and civil society to help support and employ people fleeing the conflict in Ukraine, according to the CBI.
CBI President Lord Bilimoria said: “Firms will be looking closely at details of the new scheme to see how they can best support, including advertising it to their staff.
“Since the outset of the crisis, many companies have been helping humanitarian efforts through monetary donations, alongside items including power generators, medicines and food.
“Meanwhile, firms continue to support sanctions – despite their cost – with many going far beyond what’s been requested of them.
“And the CBI backs the Government in asking firms to think carefully about their financial relationships with Russia. Many have already acted, though unwinding links can be complex for some.
“Ultimately, we must increase the UK’s economic resilience; through cyber, and securing energy and supply chains.
“Businesses are already demonstrating by their actions they are doing all that they can to go the extra mile.”
£200,000 grant to help create business hubs at Lincoln and Spalding libraries
A £200,000 government grant will help create business hubs at Lincoln and Spalding libraries.
The funding will create two ‘Business Bubbles’ for small businesses, providing confidential workspaces equipped with modern technology.
Lincolnshire County Council has been awarded £211,200 for the project, by the Department for Digital, Culture, Media and Sports, delivered by Arts Council England.
At Lincoln and Spalding library, drop-in workspaces will be created for small businesses and start-ups. Kitted out with acoustic booths and modern technology, these will offer flexible and confidential space to work from as and when they need to.
Businesses using the bubbles will also be able to use the libraries as a registered business address, and a ‘poste restante’ service will be available.
In Lincoln, an open plan business lounge located next to the Business Bubble will provide space for client meetings.
At Spalding Library, the Business Bubble will also provide more opportunities to work with local education providers to address employability and digital skills shortages in the area.
The funding is part of the Government’s £48m Cultural Investment Fund (CIF), which has provided grants to more than 60 galleries, museums, libraries and cultural venues across the country to improve access to the arts, safeguard cultural assets for future generations, and power economic growth through culture.
Cllr Lindsey Cawrey, executive member for culture and heritage at Lincolnshire County Council, said: “We’re always looking at ways to develop the range of services and facilities offered by the library service to ensure we’re meeting the needs of our residents.
“By transforming areas of our Lincoln and Spalding Libraries in this way, we’re enhancing the value and role of the library service, extending the benefits of local libraries to small business and supporting them at a time when Lincolnshire is emerging from the pandemic into a new economic landscape.”
Law firm leads the fight against food poverty in Bradford
LCF Law has been praised for taking a proactive approach towards fighting food poverty by becoming the Founding Corporate Partner of a local community cookery school.
Initially volunteer led, the cookery school team trained by Bounceback Food CIC will be provided with the necessary kit to deliver emergency meal drives, donation drops at market events and cookery workshops.
Bounceback’s social enterprise aims to tackle food poverty on multiple fronts across the UK and has recently begun to develop teams in locations beyond its base in Manchester. The Bradford and Leeds team will begin their training at the end of March.
With ongoing rises in the cost of living and the economy still recovering from the effects of the pandemic, food bank use in the UK has hit record levels in recent times. The number of Emergency Food Parcels distributed by the Trussell Trust has risen by 128% since 2015, from 1,110,000 parcels in 2014-5 to 2,540,000 in 2020-1. Those most likely to live in food insecurity include single parents, younger people, ethnic minorities and people in poor health.
Duncan Swainsbury, founder of Bounceback Food CIC, said: “Our mission to fight food poverty became even more urgent as the impact of COVID-19 became clear, with food insecurity levels, the cost of living and food bank usage soaring. We’re now developing teams across the UK to tackle these challenges head on and are delighted that firms such as LCF Law are keen to support our efforts in new locations.
“Each team requires appropriate training, access to resources and kitchen equipment. Funding from our Founding Corporate Partners will help to accelerate our growth and, crucially, support a greater number of people.”
Simon Stell, managing partner at Bradford-based LCF Law, said: “Bounceback Food are working hard to create a joined-up approach to food poverty. Their energy and drive to support, sustain and educate, in order to eliminate food poverty, is inspirational. As a result, we’re very pleased to be the Founding Corporate Partner of Bounceback Food in Bradford and look forward to working with them to make a genuine difference to local people.”
Bounceback Food CIC teams in Manchester (first established in 2014) and London teach people how to cook, offer a range of learning programmes, run food bank drives at market events and deliver community meal drives that provide emergency meals for beneficiaries.
They have taught over 3,500 people how to cook, donated over 10,000 items of food to foodbanks and provide almost 100,000 meals as part of their wider community outreach work which includes community meal drives and catering services.
LCF Law pledged its support via Bounceback’s #HelpUsGrow crowdfunder, that also raised funds to develop a new range of fundraising merchandise.
Smart Repairs move into top gear with record year
Smart Repairs, the independent cosmetic vehicle repairer, is set to expand throughout the UK following a record-breaking year.
The Leeds-based company, which has recently bought 18,000 sq ft freehold premises in Weaver Street, is looking to hire 100 new technicians across the country this year.
This is a result of a stellar 2021, which saw turnover rise to £5m from £3m in 2020, despite the challenges of Covid. This year turnover is forecast to soar to £7m, with net profit set to exceed £1m. During the past three years, the company’s Compound Asset Growth Rate (COGR) has increased by 24 per cent.
Smart Repairs, which has most of Yorkshire’s major car dealerships among its clients, is co-owned by its founder Dan Besau and major investor Phil Newstead. The company carries out 180,000 vehicle repairs a year.
Phil Newstead said: “These are tremendously exciting times for the company. The move to our superb new Falcon House premises in Weaver Street, close to Leeds city centre, has given us much more space and has put us in charge of our destiny.
“Clearly the global pandemic had its challenges last year, but one of its consequences was a boom in the second-hand car market, which naturally led to a great deal more work for us. We managed to stay open and working most of the time, despite the difficulties of the various lockdowns.
“We are now expanding across the UK this year, with a special focus on the M25, Essex, the North West, the North East and Scotland. We are now hiring experienced mobile technicians to help with this expansion drive, which will see full UK coverage by the end of the year.
“At the moment, our sector is very fragmented and dominated by small independent operators. We believe that by strategic expansion and acquisition, we can build a national network that can then service customers with a national requirement. Whilst all growth to date has been organic, we are also keen to look at acquisitions and we will target similar successful independent cosmetic vehicle repairers.
“We can both see that our future is in providing a quality repair offering across all of the UK, to warranty companies, insurers, dealer groups and vehicle remarketing companies,” he added.
Dan Besau, a proud Yorkshireman, originally from Picketing, said: “It has given me tremendous pleasure to see how the company I founded in 1995 has developed. We have gone from strength to strength in recent years. The mobile business has proved popular and successful and, when I spotted a gap in the market for high-end alloy wheel repairs, I had the confidence to go for that, too.
“We already have a formidable client list, including many of the quality Yorkshire dealerships such as Bentley Leeds; BMW Leeds, Harrogate, York and Bradford; Mercedes Leeds, Bradford, Huddersfield and York; Ferrari Leeds; Aston Martin Leeds; and Audi York and Harrogate.
“With Phil now on board, the sky is the limit. The future is incredibly bright. Let’s bring it on.”
Urbanite secures £14.8m for Leeds student scheme
Student property developer Urbanite has secured a £14.8 million finance facility with Paragon Development Finance to support its latest purpose built student accommodation (PBSA) scheme in Leeds.
The company has successfully acquired the Sugarwell Court student accommodation block from Leeds Beckett University and will convert the site into cutting-edge student accommodation. The 20-month £14.8 million facility will enable Urbanite to acquire the site and undertake the development of a 457-bed PBSA scheme.
The funding is structured to include Paragon’s new stabilisation facility, which covers the period following the completion of a development until the scheme has seasoned with student occupancy for up to two academic years. Once the development is complete, the scheme will be refinanced onto an 18-month stabilisation facility.
The stabilisation facility means that Paragon can support a developer through the full lifecycle of a PBSA development, from acquisition of a site without planning and pending approval, the development phase and onto a stabilisation facility post practical completion and opening of the scheme.
The funding was led on behalf of the bank by relationship director Simon Dekker, with support from senior portfolio manager Craig Seaborne.
The latest funding with Urbanite is Paragon’s second deal with the company. Previously, Paragon funded a 127-bed PBSA scheme in Sheffield for £6.3 million, which is due for practical completion to meet the start of the academic year in 2022.
Timothy Smith, director at Urbanite, said: “Urbanite is thrilled to secure a secondary deal with Paragon, bringing forward this exciting scheme for upgraded state-of-the-art purpose build student accommodation in Leeds. We’re pleased to have acquired this site and to be able to convert it into bespoke student accommodation in a prime location in the centre of Leeds.
“We’ve built a great relationship with Simon and the team at Paragon; their support and understanding are gratefully received with the past two successful funding facilities.”
Simon Dekker, relationship director, said: “We were able to complete this finance facility in a short period of time to enable the customer to complete the acquisition of the site and commence development work. This is the second deal we have funded with Urbanite, which is building a great reputation in the PBSA market.”
Wetherby’s Avacta Group sells animal health division
Avacta Group, a Wetherby-based clinical stage oncology drug company and developer of diagnostics, has sold its veterinary division, Avacta Animal Health, to Vimian Group.
Avacta Animal Health provides veterinary allergy diagnostic solutions through its laboratory in Wetherby, and re-sells immunotherapy products from Nextmune, a Vimian Group company, to veterinary clinics across the UK. The business also provides testing kits to veterinary laboratories across Europe.
Avacta Animal Health Limited will be acquired by Nextmune Holdings BV and will be consolidated into Vimian’s Specialty Pharma segment.
Avacta has received an upfront payment of £0.9 million and will receive additional deferred consideration of up to £1.4 million dependent on the combined performance of the consolidated business.
The Animal Health Division had made an operating loss (prior to an impairment of historic goodwill) of £0.3 million during the year ended 31 December 2020. The carrying value of the Division as at 31 December 2020 was £1.0 million. The sale proceeds will provide further funds for the development of the Group’s Diagnostics and Therapeutics Divisions.
Dr Alastair Smith, Chief Executive Officer of Avacta Group, said: “The sale of the Avacta Animal Health business allows the Group to focus entirely on growing its core businesses; diagnostics and therapeutics. Having had our Animal Health division since 2009, we are delighted that Vimian will be retaining the entire Avacta Animal Health team and are well placed to grow the business.”
Magnus Kjellberg, CEO of Vimian’s Specialty Pharma segment Nextmune, said: “This acquisition significantly strengthens Nextmune’s competitive position in the UK. With our own laboratory for veterinary allergy diagnostics in the country and a full-service offering covering all veterinary dermatology needs, we see significant opportunities to accelerate sales and improve customer experience in the UK.
“The cross-selling opportunities via this business existing customer base as well as the increased laboratory capacity for Nextmune are also key components in driving incremental growth.”
Ripon’s arcade fully let
Ripon’s arcade is now fully occupied. New tenants Yorkshire Physio and Gladrags Ripon have just taken the final two units in the popular arcade in the heart of the city.
These two deals follow hard on the heels of Yorkshire Cancer Research moving into the city’s arcade, which has recently undergone a £100,000 refurbishment.
Bradford-based property development and investment company Frank Marshall Estates bought the 16,484 sq ft arcade off a guide price of £2.2m from the Westcourt Group in 2019.
Edward Marshall, director of Frank Marshall Estates, said: “It is absolutely wonderful news that the iconic arcade is now fully occupied. The arcade, which links the city’s main car park to the historic Market Square, is a fabulous new location for both Yorkshire Physio and Gladrags Ripon. It is the beating heart of the city, with a really strong and consistent footfall.
“It gives us great pleasure to welcome our two new tenants to the arcade and to announce that the arcade is full. We believe our sensitive refurbishment has given the arcade a new identity, making it much more visible and more of an attraction from the Market Square side in particular.
“Ripon is a sleeping giant and we are delighted that our attractive, new-look development has given the city centre the game-changing regeneration boost it needed.”
Other occupiers of Ripon Arcade include North Yorkshire County Council and retailers such as Scriven Opticians, Home Bargains, the British Heart Foundation, Blue Cross, Westwood’s Barbershop and Social, Caffe Tempo and the Card Factory.
Edward Marshall added: “Retail has suffered the worst period in history over the last two years but we are now seeing a strong recovery, especially in the smaller towns and cities like Ripon. People want to shop locally and, in a place like Ripon, this means in the Market Square and the Arcade.
“We are pleased to see our units full and that the tenants are quality local businesses who are our favourite people to deal with. Ripon is about to have a very large number of new houses built over the next few years and this can only benefit our tenants and the city centre as a whole. Long may it continue.”
