Short-term lending scheme Paxton Secured Income Fund LP has concluded its first year of operations and they have exceeded the target set by loan manager, Paxton Private Finance.

The Paxton Secured Income Fund provides the opportunity for investors to participate in the short-term finance market and they have made the first income distributions to investors at an annualised rate of 11.25% pa, thereby surpassing the 10.30% pa objective set.

Launch investors, whose subscriptions were in play for only part of the financial year, have shared a strong fourth-quarter result which saw almost full utilisation of equity available for lending. Demand from prospective borrowers was such that the proceeds of one loan redemption were employed on fresh lending within three days.

Loan manager Paxton Private Finance commented: “High Street banks are still reluctant to support small property developers and are tending to increase margins and renewal fees for existing accounts wherever possible, making the Fund’s typical lending rates more competitive. Cost aside, brokers and borrowers alike say the most significant factor influencing lender selection is our proven ability to deliver quickly.”

During the fourth quarter further equity continued to be issued as the Fund progresses towards its £10m fundraising target.

Real Estate Associates Ltd is the FSA-regulated operator and trust manager, with day-to-day administration undertaken by sister-company Real Estate Associates (GP) Ltd.  Among their duties, treasury functions are segregated from the loan manager for an additional layer of security; consequently loan monies flow directly between the fund’s bank account and the solicitor responsible for each loan’s security package.

“The investor community has recognised the importance of strong governance for lending schemes.  The steps we have taken to monitor reporting by external valuers and solicitors, and to embed those processes during the fund’s first year, have created a solid platform for expanding volumes of lending,” said Real Estate Associates.

Paxton Private Finance, an independent, principal lender which specialises in providing alternative, non-regulated, short-term finance solutions, are pleased to announce their Refurbishment & Conversion Bridging Finance Product.

The Refurbishment & Conversion Product is available to buyers as well as existing owners, from light refurbishment to heavy refurbishment and conversion. Typically, our clients will be adding value as works progress and, whilst our lending is based initially upon current open market value, further draw-downs can be made available if required.

At outset Paxton Private Finance can lend, up to 85% Gross of the current open market value. The term may be extended or renewed subject to refurbishment progress. After the first month, interest is charged on a daily basis. Typically, no exit fee is charged. The maximum loan for this product is £1,000,000. Loans outside the normal parameters will also be considered.

David Kinane, Partner, Paxton Private Finance said:

“We are very excited at the launch of our Refurbishment & Conversion bridging product. As mainstream lenders endure renewed funding constraints, their appetite for this type of development project diminishes. We, however, are keen to support both developers and investment buyers alike and we believe this product provides an invaluable source of funding. We work enthusiastically with our clients and try to provide the most sensible solution to their funding requirements.”

Government reforms are set to change the UK pensions landscape forever. Whether a lay or independent trustee, an employer or an employee, there’s no escaping the fallout no matter which side of the pensions fence you usually sit on.

Employers in particular are going to feel the burden. But workers, too, will also have a lot to think about. However, any concerns or worries they may have should be ironed out by the capable trustees working hard on their behalf. At least that’s the hope!

While the new duties apply primarily to employers, trustees will have a major role to play, not least in ensuring the employer’s current scheme will be ‘fit for purpose’ with regard to automatic enrolment, one of the major pension changes. If it is, they’ll also have to be mindful of any likely impact on existing member benefits.

Trustees will need to know the employer’s staging date, the date when the changes have to be implemented. Staging dates are dependent on the number of people in the company’s largest PAYE scheme. The larger the scheme the sooner the changes will have to be made, beginning in October 2012. Smaller companies, by and large, have been given until 2016 to come up to the mark.

If trustees have not yet started planning for the changes then they need to get a move on. Even now, there should be meaningful dialogue with the employer in order to assess whether the current scheme meets the qualifying criteria and whether it can in fact be used for automatic enrolment of new members. If it does then fine. If not, what changes will have to be implemented? Other points to consider include whether or not the administrative process currently in place will be able to handle the increased membership.

Increased membership will surely change the membership profile and that may have a direct bearing on the defined contribution investment choices currently being made. What impact will the changes have on the ability of the scheme to support members approaching retirement? Just one of the many questions which will have to be answered.

And given such far-reaching questions, suggestions of the formation of a sub-committee as part of a ‘mobilisation team’ are surely a good way forward. The sub-committee can be tasked to look at specifics with regard to the reforms, automatic enrolment being a prime candidate for consideration. The sub-committee could also look at the time frames likely to be involved and any legal implications which might arise. At this point, trustees should also be looking to actively engage and seek input from the professional pensions advisers at their disposal.

Of course, while all of this is going on, trustees must not lose sight of the people they represent, namely the workers, the members who contribute to the scheme. Their interests are paramount, at all times, and no doubt they’ll have many concerns to raise. This is where good trustees should come into their own, providing a communications conduit between employer and scheme members. At the very least, members will want to know how any changes will affect them and when. Easy questions to answer, surely, if all else is in place. Are you ready for the changes?

In comparison to last year, this year’s festive period has seen one payday Loans Company, Speed-e-loans, made almost three times as many loans compared to the same time last year.

However, despite the rise in demand for payday loans, there are some industry experts claiming to not be too surprised by the news, especially when you consider the fragile, financial state of the country.

The same payday loans company have said that aside from the rising demand they have noted that their average customer had 30% less debt that they did the same time the year before, December 2010.

There is a lot of insecurity in the country at the minute with company’s going out of business left right and centre, people losing their jobs however industry figures have found that compared with December 2010 the average person who was taking a loan out was earning 3% more and a lot of those also had a better credit rating when compared to the same time the year before.

There are a number of different payday loans companies out there, one of which, instantpaydayloans.co.uk offer an extremely fast and secure service and you could have the money you need to borrow in your bank within a couple of hours providing you are over 18 years of age, have your own bank account, have a job and you are a resident of the UK.

United Kingdom. December 29, 2011. Eden Harper a leading estate agency now brings new listings for Brixton lettings and flats on rent in Battersea.

Anyone who has been in search of lettings will find Eden Harper the quickest source to find properties that matches their needs. Eden Harper can help find the most appropriate Brixton lettings in what ever area or at what ever rental the client desires. Eden Harper has got its links to the deepest roots in the city and they will come up with a reference with immediate effect with regards to client’s demand. And even if anyone has been looking for luxury flats to rent in Battersea, Eden Harper again brings a whole new database of listings that will allow any one find out the most adorable flats to rent in Battersea. If there is anyone, either student or a couple who is looking for rentals, can refer Eden Harper estate agency for their needs. For more details and information about their services log on to their website http://www.edenharper.com or can even call them at 0207 274 3111 for free consultation.

A Whilstleblowing Network Has Been Set-up by Tax Office Rebels in the aim of Naming and Shaming Deviant Bosses Within HM Revenue and Customs (HMRC)…

The group claims to have 324 members and have named themselves ‘Dissent’.

It is thought that the group of tax office rebels began to form after it became public knowledge that Permanent Secretary for Tax, Dave Hartnett, had signed a deal that let investment bank Goldman Sachs off with £10m pound in tax.

Dissent says that the group is prominent in offices throughout the UK and that they are ‘tired of the corruption, ineptitude and mismanagement from within the department in recent years’.

News of a rebel group will be a second blow to the Revenue following a report published on the 5th of December 2011 by chartered accountants UHY Hacker Young that says ‘continuing low levels of staff morale at HMRC is affecting the level of service tax payers receive’.

The report claims that a new HMRC staff survey reveals that ‘just 13% of HMRC employees felt that when changes are made at HMRC they are usually for the better and only 17% of HMRC staff had confidence in the decisions made by senior managers’.

Other figures in the report conclude that:

• ’18% of staff felt motivated to help HMRC meet its objectives’

• ’37% of employees thought that poor performance was dealt with effectively’

• The department has been reduced by 40% due to staff cuts; and

• There are 31% less offices now that in 2001 as only 487 offices now remain in the UK.

Tax Partner at UHY Hacker Young’s London office, Roy Maugham, said:

“The sense of disillusionment present in HMRC is clear to see; the worry is that it seems to be affecting customer service.

“It is of great concern that when there is a problem with staff performance, which may impact the service HMRC provides, roughly two out of three employees feel that HMRC is not going to tackle that problem effectively.”

Dissent is in contact with the Daily Mail and has spoken of the rebel groups objectives:

“We wish to speak out against the bad practice and double standards that operate in Revenue and Customs. We wish for a fair tax system that does not reward the wealthy elite and big business.”

When asked if they were aware of Dissent a spokesperson for HMRC said that:

“HMRC is proud to be an open organisation which welcomes and encourages the views of all our staff.”

HMRC stated that criticising letters were ‘unnecessary and irrelevant’ and that ‘well defined procedures’ were already in place if staff wished to ‘report and genuine grievances’.

Kevin Kinsella, of KinsellaTax Investigations, said:

“There have been murmurs of discontent for some considerable time amongst HMRC staff. The problem is how one steadies the ship as the problems grow amongst staff. For all the different schemes put forward by HMRC to attract self disclosures, none have proven to be successful.

“The LDF scheme was estimated to attract 3bn pounds but only 144 million has been recovered, not the success that HMRC trumpeted from day one. Staff continues to be criticised and morale dips lower. Something must be done to lift the depression amongst HMRC staff.”

If you have received a letter from HMRC opening a Tax Enquiry into your affairs then why waste any more time?

KinsellaTax Investigations staff consists of ex-HM Inspector of Taxes and ex-HM Custom and Excise Officers, fully experienced in HMRC tax investigations.

Call us now on 0800 999 9980 to speak to one of our HMRC Tax Investigations experts.

A business organization is declared bankrupt when it becomes insolvent. In such a case, the firm is unable to pay money to its creditors. Liquidation and reorganization are two kinds of bankruptcies that can be filed. In case of reorganization bankruptcy, the protection of the exempt assets is of key concern while liquidating unsecured debts. A company is allowed to keep its assets in a reorganization bankruptcy. It also involves a court-approved settlement plan to the concerned creditors. During these times, companies seek the help of a bankruptcy attorney, who is aware of the entire process involved in such issues. Liquidation bankruptcy involves the selling of non-exempt assets to the concerned creditor. Sometimes, law gives the permission of exemptions equity on assets because it helps in keeping the assets while discharging the debt. Dealing with this whole process needs bankruptcy lawyers who analyze the situation from the very initial stage. Bankruptcy attorney makes a note of the assets of a bankrupt firm and looks for transferred or sold property that can be recovered in order to pay the creditors. Solving the issue of bankruptcy involves a complex process that includes filing of the case and increasing the use of exemptions in order to save assets. Therefore, the process demands bankruptcy lawyers who can keep a check on everything systematically for the client. At the time of reorganization bankruptcy, a bankruptcy attorney takes into consideration the income and expenses of the client in order to make payment to the creditor. The bankruptcy lawyers also help the client in keeping the non-exempt assets. These lawyers assist in completing the bankruptcy petition that require certain bankruptcy filings. This petition is a federal document that should be filed with the district federal bankruptcy court. The client can be criminally prosecuted if he intentionally or unintentionally misses out to list an asset on the petition form. Bankruptcy attorney helps in preventing such situations as he or she will ask rigorous questions regarding the client’s financial history. The client should be truthful to the lawyer during filing of petition as the latter would be able to help him better after analyzing the financial history. On filing the petition, the client gets the ‘automatic stay’ protection from the court. It prevents the client from collection calls, wage garnishments, repossessions, lawsuits, foreclosures, judgment enforcement and bank levies. All the calls are handled by a client’s bankruptcy attorney and this enables him to concentrate on other important matters. Therefore, it is always advisable to take assistance of organizations that have a team of professionals, who can make things easier during bankruptcy.

When you are looking for lettings to make investments you can refer the filey property estate agents. They can help you find suitable lettings to suit your needs.

The Office for Budget Responsibility’s downward revision of the UK’s economic growth forecast has made it even more important that George Osborne’s various initiatives designed to help UK businesses access the funding they require, as announced in the Autumn Statement, provide real, tangible and accessible support for SMEs.

As expected, the introduction of a £40 billion credit easing programme was confirmed to underwrite bank loans to small businesses under the National Loan Guarantee Scheme. Whilst encouraging, given that it is hoped to reduce the cost of borrowing by around 1%, our concern is whether this will in fact address the more pertinent issue of SMEs’ access to finance.

Of perhaps greater and more immediate significance is the extension of the Enterprise Finance Guarantee, which will now make firms with a turnover of up to £44 million eligible to apply for funding of between £1,000 and £1 million under the scheme.

Note to editors:

Evette Orams is Managing Director of Hilton-Baird Financial Solutions, which is part of the Hilton-Baird Group of companies. As an independent introducing agent, Hilton-Baird’s aim is to clearly identify their clients’ business requirements and match them up with relevant providers. The Group prides itself on maintaining excellent relationships with a broad spectrum of lenders and constantly delivering positive and innovative financial solutions.

Hilton-Baird Financial Solutions was voted Asset Based Finance Broker of the Year 2009 & 2010, demonstrating its reputation and the trust its clients place in its service.

The business’ affiliations to the leading financial industrial bodies, the Asset Based Finance Association (ABFA), the Finance and Leasing Association (FLA) and the National Association of Commercial Finance Brokers (NACFB), ensures it maintains the highest level of standards for its clients.

Hilton-Baird Financial Solutions helps businesses of all sizes to fulfil their potential by introducing the most suitable cash flow solutions. Read recent success stories here – http://www.hiltonbaird.co.uk/FS/Success-Stories/.

To find out how Hilton-Baird can assist, contact Evette on: 07894 513555.

Christmas is coming and Forex4you.com, a dynamic web trading platform, is spreading holiday cheer with a simple and appealing holiday bonus offer. Each day, a winner with a Forex4you Classic or Pro client account receives 500$ and for a Forex4you Cent account the prize is 250$. The offer lasts from the 21st of November till the 20th of December.

To automatically qualify for the daily random drawing that will determine the lucky winner of the day, clients simply have to make one profitable trade that is opened and closed on that day.

“Getting a gift at Christmas always feels special. At this holiday we always express gratitude to others for love or for successful co-operation. Also Forex4you wants to greet all its loyal as well as new clients, presenting them 16 500 USD in total this Christmas,” said Maxim Lebedev, COO of Forex4you. “Our clients make hundreds of successful trades every day and now we’re adding that extra Christmas touch of fun. With this “one profitable order” lottery we want to send out a positive vibe to all traders. Even if they won’t all be winners of the draw, they can still have that winning transaction and look forward to a happy holiday period.”

The total prize fund is $16,500. One client can win an unlimited number of times. Only those profitable orders which are opened and closed the same day are entered into the daily drawing.

About Forex4you
Forex4you is part of the E-Global Trade & Finance Group, Inc. which started its operations on 2007 with just seven employees but by the middle of 2011, rapidly growing company employed already nearly 100 employees. Today, Forex4you has a global presence serving customers in more than 150 countries around the world offering wide range of forex trading services, flexible trading conditions, financial bonuses and benefits as well as comprehensive customer support and IT infrastructure. More information can be found on www.forex4you.com or by phone +44 207 193 9932.