Archive for June, 2010
Following this week’s Emergency Budget, by the new Chancellor, George Osbourne, here’s what our Financial Controller, Ged Taylor, has to say about the potential affects on SMEs.
Raising the threshold that companies start paying national insurance by £21 per week together with scrapping the previous Government’s planned increase in N.I. contributions, makes it easier for SMEs to employ more staff.
The cut in Corporation Tax by 1% for each of the next four years, taking the rate from 28% down to 24% will enable companies such as Shred Easy to re-invest more in growing the business and creating employment opportunities.
The high price of fuel is a major concern for many SMEs including ourselves. We welcome the fact that there are no further increases in fuel duty planned, although the increase in VAT in January 2011 will have an effect. It is hoped that this budget will signal a serious attempt to reduce the country’s deficit and lead to a strengthening of the Sterling against the U.S. dollar, which would push the price of fuel downwards.
Value Added Tax
It was inevitable that there had to be a major tax increase somewhere. The increase in VAT to 20% from January 2011 brings us in to line with our European neighbours. By increasing taxation on spending rather than earnings, this does not have a negative effect on encouraging people to work and generate wealth.
The fact that the increase comes after Christmas should ensure that the impact on the economic recovery is mitigated.
Whilst the increase may have some effect on our trading we recognise this as a necessary evil that will go some way towards reducing the massive deficit.
Tackling the deficit
Hopefully the public sector spending cuts that have been announced together with welfare benefit cuts, the levy on the banks and the VAT increase will give the international community confidence in our country. We would not wish to go the way of Greece and Spain with reduced credit ratings, forced cuts and subsequent higher borrowing costs.
As the UKs leading confidential document and data destruction company, we have boosted our team by employing a new compliance manager.
Nigel Boothby, 44, who has 23 years experience of maintaining security procedures, health and safety, operational procedures and quality systems, has been employed as head of compliance to maintain our rigorous professional and customer service standards.
Working with our existing environmental and quality management teams, he will also ensure a consistent and co-ordinated approach to maintaining our international ISO9001 and ISO 14001 accreditations.
We are at the forefront of the security sector and we are fully compliant with all professional, quality and environmental management systems, as well as health and safety and security regulations. By having Nigel in place ensures the highest levels of compliance going forward.
Jim Watson, managing director of Shred Easy, said:
“Nigel’s job is to ensure consistency and maximise security for clients. This demonstrates our commitment to providing the most secure solution in operation by consistently adhering to all security, quality and environmental standards for customers. Shred Easy are the only company operating in the secure destruction business that has set up this compliance role to ensure our customers benefit from the most secure and compliant service available. Our accreditations have all been achieved after completing intensive assessments relating to everything from the security of our facilities to the cutting width of the paper we shred.
“This issue has become increasingly important as the Information Commissioner’s Office (ICO) has increased penalties for businesses failing to destroy confidential data to £500,000. So it’s now more important than ever to be compliant.”
We are members of the the British Security Industry Association (BSIA), the UK Security Shredding Association (UKSSA), the European National Association for Information Destruction (NAID), and has UKAS accredited ISO 9001 and 14001 registrations.
So… it seems the new Sex and the City film has seen an upsurge in fake designer goods flooding the market.
The launch of Sex and the City 2 has seen record numbers of women rushing to the flicks to watch their favourite female characters and drool over their designer wardrobes.
However, fans trying to emulate Carrie’s clothes and Samantha’s style has seen the black market flooded with fake designer copies of Chanel jackets, Halston dresses, and Christian Louboutin shoes.
The surge in forged goods means that spotting a fake is harder today. Counterfeit items must be destroyed to stop the black market which contributes to wider criminal activity and presents consumers with poor quality items.
Jim Watson, managing director of Shred Easy, the UK’s leading shredding company, which destroys conterfeit documents, clothing and designer apparel said:
“Female fans trying to emulate their fashion idols should know how to spot fakes online and in the street. Look out for faded logos, cheap material, badly stitched labels, the age of the item, where it was made and distinct patterns like the official Louis Vuitton print.
“These items must be shredded to protect trade marks and to refrain from devaluing exclusive brands.”
Ian Lewis, a fraud partner at Manchester based Lewis Hymanson Small solicitors, said:
“The recession has meant more consumers are being targeted by fraudsters. Counterfeiting has far reaching effects, exposing consumers to poor quality goods, stopping local businesses from competing and helping increase criminality.
“If you have bought a fake item under the impression that it’s an original, you may have rights against the seller and should contact Trading Standards immediately. Your statutory rights may allow you to claim for false advertising.
“If you’re caught selling forged goods Trading Standards could punish you for fraud.”
The film’s costume selection was overseen by Emmy award-winning stylist Patricia Field and is reportedly worth £7 million.