Making tax digital – what it means for you

Making tax digital – what it means for you

We ask Sue Jones, Financial Director at Helmsley Group about the impact on our clients of making tax digital

Sue says: ‘Both Helmsley Group and Colenso are making the necessary preparations to ensure the smooth transfer to Making Tax Digital, which comes into force from 1st April 2019.

VAT returns will have to be submitted either through compatible accounting software, or through ‘bridging’ software.
The financial team at Helmsley Group has been preparing for this move with seminars and training, to see which software will be most valuable for our clients.

For LLPs and any companies requiring accounts, we’ll be moving from preparing accounts manually using excel spreadsheets, to an accounting package called Xero.  This is very user friendly, cloud based software and will cost £264 per company per year.

For our syndicated properties, which don’t require annual accounts, we’ll be submitting VAT returns through bridging software called Absolute Accounting, whereby we input the necessary figures into the software, which it then uploads to HMRC. The cost will be £40 per syndicate per annum.

For any questions please contact Sue on sue-jones@helmsley.co.uk

11,000 sq ft of industrial space sold at £2M business park

11,000 sq ft of industrial space sold at £2M business park

11,000 sq ft of light industrial and warehouse space has been sold at the Broadhelm Business Park at Pocklington near York. Helmsley Court comprises eight trade counter units offering local operators much needed business space adjacent to the A1079 between York and Hull.

Ed Harrowsmith from Helmsley Group comments: “The development is a joint venture between Helmsley Group and Broadmanor Developments which follows the construction of a bespoke Howdens unit and Pocklington Service Station. The venture has held the site for a number of years and it is exciting to finally see occupiers and activity on what is an excellent roadside and industrial location.

For further details please contact Ed Harrowsmith on: edward-harrowsmith@helmsley.co.uk

New board members for York Professionals

New board members for York Professionals

York Professionals has strengthened its representation of the property and finance sectors with the appointment of three new board directors.

Richard Peak, managing director of The Helmsley Group, Jackie Senior, Garbutt + Elliott director, and Jonathan Doyle, senior manager at Clive Owen LLP, have taken up positions on the York Professionals board this month.

York Professionals represents the city’s professional services economy in the business support, creative and digital, finance, legal, marketing, people and property sectors.

Working alongside strategic and corporate partners, the organisation supports and champions professional services providers, helping them grow their businesses and networks, driving economic growth and showcasing the city as a superb place to live and work.

Richard says: “York Professionals is full of talented people from across the cities’ best businesses. I’m looking forward to helping the team create recognition for York as a world leading centre for business and enterprise.”

For more information please see www.york-professionals.co.uk

Property investment update shows strong performance despite looming Brexit

Property investment update shows strong performance despite looming Brexit

Over 150 people attended a property update from Helmsley Group in York today.

 

Chairman John Reeves debated how Brexit will affect the property industry and said: “We’re being discerning over what and where we buy in order to future proof our client investments.”

 

“Any change of government will present a huge risk to investors and doesn’t bear thinking about for our industry. It could lead to the destruction of entrepreneurial wealth creation.”

 

“We’re focusing on better quality towns and cities that attract buyers and high quality tenants.”

 

Ed Harrowsmith, Syndicated Property Associate Director advised: “Property continues to outperform many other investments, however we’re at the peak of the market cycle and I believe a downturn is just around the corner. That said, our portfolio continues to perform well as a whole.”

 

Max Reeves, Development Director, continued: “Helmsley Group is investing in niche developments in popular locations to give us a strong market edge.”

 

“Current schemes include high end residential developments like The Old Fire Station in York, which sets a new benchmark for sales values in the city. We’re also creating affordable homes from office to residential schemes, which includes the newly started Hallfield Road in York.”

 

The discussion also covered the threat of internet shopping to the high street, to which Max Reeves added: “Our portfolio isn’t over exposed to retail and in this environment it’s essential to keep other development options available in case of a need for a change of use.”

 

Tom Sykes, Asset Manager, updated Helmsley Group clients on the current portfolio, which includes residential, industrial and office accommodation.

 

Managing Director Richard Peak said: “We were delighted to welcome so many clients to the AGM and look forward to working closely with them through 2019 to develop their wealth through their property investments”.

 

For further information please contact candice-robertshaw@helmsley.co.uk 

Call for time capsule ideas for The Old Fire Station

Call for time capsule ideas for The Old Fire Station

A local property company is calling for ideas from York school children for a time capsule to be buried under The Old Fire Station development on Clifford Street.

Helmsley Group, which is based at Monks Cross, is currently developing the site to create luxury apartments and homes, which will go on sale this November.

Director Max Reeves says: “Every ten years or so we bury a time capsule in one of our schemes, so that people in the future will know what was happening and what was important at a certain date and time in York. We’re inviting entries from local school children in the form of posters and ideas for what they’d like York to be remembered for today.”

“We’ll draw the winner on 9th November 2018, so we can add it to 2018’s time capsule at The Old Fire Station.” 

To enter, please draw or paint your idea and share a picture of it on Twitter and/or LinkedIn by using #firestationcomp and @helmsleygroup, or you can post to Candice Robertshaw, Colenso House, Monks Cross Drive, York YO32 9GZ or email on candice-robertshaw@helmsley.co.uk

Definitions

High Net Worth Investor – An individual who has signed, within the period of twelve months ending with the day on which communication is made, a statement to confirm they have an annual income of not less than £100,000, or net assets, excluding their primary residence, of not less than £250,000.

Certified Sophisticated Investor – An individual who has a written certificate within the last 36 months by an FCA Approved Person confirming that the Investor is sufficiently knowledgeable to understand the risks associated with engaging in investment activity in non-mainstream pooled investments

Self-Certified Sophisticated Investor – An individual who has signed, within the period of twelve months ending with the day on which communication is made, a statement to confirm that have sufficient knowledge to understand the risks associated with engaging in investment activity in a non-mainstream pooled investments.

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