2

businessupdate

News

Tuesday June 4, 2013

Financially speaking
By Gerald Davies of The Kymin Group
Back in early January, I posed the question What price the FTSE at 7,000 by Christmas?. After what has been a lumpy week, with the index of leading shares jumping up and down like a yoyo, what are my thoughts today? Is this another sell in May and go away year? Not forgetting to be back again St Leger Day(mid-September). The truth is, no one knows. The point is that the stock markets are best played for the long term gain, over a minimum of five years, not forgetting the value of re-invested dividends. However, with the market paused at about 6,600, now would be quite a good time to re-appraise any shares held. Most of mine are within my SIPP (Self Invested Personal Pension), so Capital Gains Tax does not apply. For those with shares held outside such a wrapper, it makes sense to take at least some profits and use the opportunity to offset these gains against losses. I think just such a sot out has been occurring in a number of portfolios, which may explain some of the recent volatility. Dont forget the old Rothschild saying never refuse a profit. Another of his was I made my money by selling too soon. So many people hang on for that extra bit of gain and then end up losing out. Another way of putting it is dont be greedy. If youve made a reasonable gain over a few years, be prepared to accept that. Another reason for the recent volatility has been the noises off, coming from Europe. There is no one so blind as a politician, so devoted to his favourite scheme, that he refuses to be put off by inconvenient truths. The facts are the last thing they want to hear. Against this is the fact that interest rates are still at record lows and likely to remain there. The incoming Governor of the Bank of England will not raise the base rate, some say until at least 2016. So your money on deposit is going to continue to offer interest rates which can only be described as insulting. What am I going to do? Well, I shall remain more or less fully invested, using the dividend income of about four per cent to invest in any undervalued stocks which appear. Whatever you decide, have a great summer

Sir Terry to speak at digital event

Sir Terry Matthews is speaking today at a national technology event is showing Wales is open for business. Sir Terry will be one of more than 60 speakers to talk at the Digital 2013 event, which is being held at his Celtic Manor Resort yesterday and today. Technology organisations including HP, Cisco, Microsoft and IBM were at the event, which was expected to attract more than 1,000 people over its two days. Today is an industry day at the event and will include workshops to focus on issues including ICT skills gaps, social media and online crime prevention. There will also be workshops aimed at specific industries such as life sciences and financial services to show the potential of ICT across all economic sectors. Sir Terry said: High-growth, innovative businesses are at the core of any buoyant economy and supporting them to utilise technology will be key if Wales is to be positioned at the cutting edge of the digital economy. It is promising to see such a highprofile digital event held here in Wales, demonstrating Wales credentials as an outward-looking nation that is committed to up-skilling the economy and getting behind the digital agenda to encourage inward investment and growth. Crucially, it is positive to see a technology event that includes discussion on digital skills provision. A thriving ICT sector is entirely reliant on the existence of a talented and skilled digital workforce, and there are huge issues around ICT skills provision for industry.

South Wales Argus sales executive Samantha Taylor, who also works on products including Business Update, the Business Quarter and Monmouthshire County Life magazine from our Newport offices, was recently named Newsquest Sales Executive of the year (2012). She was presented with an Excellence Award by Paul Davidson, chairman and chief executive of Newsquest.

Two pick up top tax industry awards

wo Newport tax companies were among the best in the business honoured at the LexisNexis Taxation Awards. Consultancy firm Innovation Professional Services was named Tax Consultancy Firm of the Year, for its work in helping solve tax problems which arise from providing fuel and cars for employees. Langstone-based Centurion VAT Specialists was named VAT Team of the Year, for its efforts in 100 per cent client retention. Centurion beat teams from Big Four competitors Deloitte and KPMG to accept the award for outstanding client service. Centurion has made it to the final three firms in the competition in previous years, and was overjoyed to succeed this yearl. A team of five judges, all senior VAT experts, acknowledged that Centurion punched well above its weight in terms of the high standard of its client support. Centurion director Liz Maher said: We are proud to go head-to-head with national VAT teams many times our size on the quality of service we deliver to our clients. Weve worked harder than ever in recent years and our unique approach of targeting specific sectors with training and forums reaped dividends. We are all absolutely thrilled to have all of our hard work recognised. The Centurion team of five senior level VAT practitioners has combined expertise in

Centurion VAT Specialists win VAT Team of the Year Award L-R: Alan Maher, Louise Gray are presented with their award

education, charity, housing associations, local authorities, manufacturing and marketing. Centurions success since it was

established 15 years ago has seen the company expand significantly, with the opening of a second office in Bristol last year.

Follow us on Twitter: @SWABusiness