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Wednesday October 25 | 2023
Next phase of new co-working space begins at the Town Hall
Mandy Weston, Chief Operating Officer at TownSq met Lee Colyer, TWBC Director of Finance to jointly sign the final documents
By Elena Percy THE next phase of Tunbridge Wells Borough Council’s (TWBC) partnership with Town Square Spaces Ltd (TownSq) can begin following the completion of legal agreements. As previously reported by the Times, TownSq will be working with the Council to create a coworking space in Town Hall, with over 60 offices, meeting rooms and an event space, as well as business and startup support. The Council will remain in situ in the town hall but on a reduced floorplate. Mandy Weston, Chief Operating Officer at TownSq met Lee Colyer, TWBC Director of Finance to jointly sign the final documents.
Exciting Now that the legal formalities are complete the next phase of the project can move forward. The next steps will see interior refurbishment of the coworking area undertaken and a show-space created for earlier occupiers which will also be used for prospective users to see how they could benefit from becoming part of this exciting project. Councillor Christopher Hall, TWBC Cabinet member for Finance & Performance said: “I am delighted that Town Square are on board. The repurposing of council offices for coworking will be a welcome addition of new office space for local businesses and supports our strategy to grow the local economy and utilize council assets for the benefit of the public. It will also make a significant saving to the Council in running costs which is welcome news as we work through the budget for the next financial year.” Mandy Weston, Chief Operating Officer at TownSq, said: “We’re pleased to have concluded the formalities and are excited to get the next phase of this project underway. The Town Hall is an incredible building and we’ve already had a
lot of interest in the workspaces. “Having modern and vibrant places to work on the high street is a vital part of any revitalisation, as when people work local, they shop local. With the cost of living so high at the moment, having somewhere to work closer to home and other amenities without huge commuting or office costs is a crucial step towards economic sustainability. “However, our spaces are not just places to work. The support that we offer freelancers and small businesses can help them take that next step. Whether they are looking to get started or get on and grow – we’ve got the programmes and the experts to make it happen. We’ve built these communities across the country, and we’re excited to bring that same success to the heart of Tunbridge Wells.” Lee Colyer, TWBC Director of Finance said: ‘The freeing up of space within the Town Hall provides an excellent opportunity for small businesses to co-locate in a prime location. The economic boost will ripple throughout the business community as greater use is made of the Town Hall from a more diverse range of activities.” This exciting development provides the Council with an opportunity for cost savings and increased income. Additionally, there are benefits for the wider town community with the increased footfall that will come from businesses locating in this important site in the centre of the town. Coworking and small business experts, TownSq also operate spaces in London, North and South Wales, West Sussex, Oxfordshire and Devon. The founders have more than 10 years experience in coworking and small business support, and can take people from an idea right through to founding, investment and growth. Anyone who would like to learn more about the space, or the business support available, can contact TownSq by heading to twtownhall.co.uk, email Tunbridgewells@townsq.co.uk
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Darren Austin is a director of Synergee Limited, a firm of Chartered Accountants & business advisers based in Tunbridge Wells. If you have any questions you'd like to ask Darren he can be contacted on 01892 772960 | www.synergee.org.uk
Liberal Democrats open new town HQ
TUNBRIDGE Wells Liberal Democrats have opened a new hub in Tunbridge Wells. The idea behind having a visible HQ in town is that people can drop in and ask questions and also attend the weekly surgeries that are now taking place at the offices at 8a Chapel Place. Mike Martin, the prospective Lib Dem MP for Tunbridge Wells, will be there every Tuesday from 1pm to 4pm while the offices will be open from 10am to 5pm Monday to Thursday and 10am to 4pm on Fridays.
Drive Since opening the hub in August, the local branch of the Lib Dems has been congratulated by its national Party President, Dr Mark Pack, for having recruited over 250 volunteers in the first few months of their general election campaign. Speaking on a recent visit to the new Chapel Place hub on Monday October 16, Dr Pack said local Lib Dems’ recent progress had been ‘extraordinary’. “Tunbridge Wells has a niche and iconic role in our traditional true-blue landscape,” said Dr Pack, citing changing demographics, with families moving in and more people working from home. “And the politics are changing,” he told councillors and activists. “But fun though it is to be elected, the reason for it is to make a
difference to people’s lives. “Ed Davey as (Lib Dem) Leader doesn’t have as much power to change people’s lives as Ben Chapelard as Leader of the Council, and as you, as councillors. Everything is rooted in the work of local councillors.” And according to a party spokesperson some of the new volunteers are former Conservative voters. “These include Ann - who is a Volunteer Field Team Leader - and Zoe - a regular canvasser,” they explained to the Times. “They told us why they had joined. Ann said she had voted Conservative in the past but that ‘the party has now left me’. “She went on to add that ‘Mike (Martin) is a very impressive candidate and I’m very happy to help him and the team win Tunbridge Wells’.” The Lib Dem spokesperson said that Zoe had previously been a sitting Conservative councillor in another Borough. “Zoe told us that: ‘The Conservative Party is not the party that I joined and served for many years. After meeting the local Lib Dems, I was impressed by their energy and drive to get things done. I wanted to help out and use my skills.’” Commenting on the swell of support the party is getting in Tunbridge Wells, Mike Martin said: “I’m delighted to welcome all the new volunteers to what is a friendly, happy team.”
In place of the usual Q&A, the following are some of the support packages that have beenWhilst made available helpabout businesses the Coronavirus: In addition to the above, the provision of fuel for there is still someto doubt the green deal with credentials of Retention electric cars, there is HMRC no doubtwill that Coronavirus Job Scheme: they are currently very tax to efficient when provided reimburse 80% of wages paid workers who have be as a company car, compared to an equivalent priced laid off due to the coronavirus crisis. This is capped at petrol or diesel vehicle. The amount a recipient of a £2.5k per employee per month. company car is taxed on annually is a percentage of
VATthe Deferral: The deferral willwhen applynew. fromWith 20 March manufacturers list price an car, this is currently If a director to 30electric June 2020. There is a lack 2%. of clarity on theorGov. employee provided with an electric costing uk website andiswe are interpreting this ascar payments £50k, they will be taxed on £1k per year. If 40% due by 30 June rather than quarters ended 30a June. taxpayer, this will equate to £400 income tax. This means that May quarter VAT Returns, where Compare this to a petrol car, which could have a payment is due by 7 July, will still be payable as percentage of say 30%, and the taxable benefit normal. Any will become payable would bepayments £15k (£50Kdeferred x 30%) which would be a tax by the end of the tax year (31/3/21 Company 5/4/21 bill of £6K for a 40% taxpayer. The companyor will also receive tax relief on the cost of the electric car, Unincorporated) either upfront if purchased new, or over the life of Income Tax Deferral: The self-assessment second the lease if rented. payment on account, due by 31 July 2020, will be deferred to 31 January 2021. No penalties or interest will be charged.
petrol/diesel leadsofto£10k an additional taxable be Cash Grants:cars A grant will automatically benefit if it for personal mileage. Electric provided toisallused businesses currently entitled to Small cars are different as they are charged, quite often at Business Rates Relief. A grant of £25k can be claimed home. HMRC previously took the view that for businesses in the retail, hospitality or leisure industry reimbursing home charging costs, unless the car ifwas their rateable is between £15k and £51K. used solely value for business, led to a taxable benefit. However, Rates whilst Holiday: this was their view, was not in business Business There is ait12-month line with the underlying legislation (S149(4) rates holiday (April 20 to March 21) for allITEPA retail, 2003) whichand specifically states: ‘References in this hospitality leisure businesses in England. section to fuel do not include any facility or means
Time to Pay Arrangements: additionato the for supplying electrical energy’.In Following deferral schemes noted above, younow haveaccepted outstanding campaign by the ICAEW, HMRCifhave tax Tax, VAT ortheir Income Tax) thatliabilities they were(Corporation wrong and have updated guidance. As long as you the electricity reimbursed due to coronavirus, may be able to agree to a time thepay employee solely relates to the charging the to arrangement. Arrangements will beofagreed on car, it is tax free in the hands of the acompany case by case basis. To discuss your options, contact employee and obtains tax relief in the company. HMRC on 0800 0159 559. Further info and updates can be found here: https:// www.synergee.org.uk/press-releases/coronavirus-update