PRTC AT THE WEST HAM UTD PLAYER AWARDS – 2015/16 – 3 May 2016

West Ham Utd Player Awards 2015/16 Brochure

West Ham Utd Player Awards 2015/16 brochure

Best Individual Performance of the Season

PRTC sponsors of Best Individual Performance of the Season Award

Peter Rayney Presenting Michail Antonio with his award

Peter Rayney Presenting Michail Antonio with his award

We were proud to support the West Ham Utd Player Awards again this year, sponsoring the ‘Best Individual Performance of the Season’, which went to Michail Antonio for his great all round performance in the FA Premier League 1-0 win over Spurs (see above).

All our guests said they had a fantastic night at the club’s Player Awards, which was held at the lavish Hilton on Park Lane.  After a brilliant season, there was a vibrant and jubilant atmosphere in the room as we celebrated the team’s and individual player achievements.

The evening was hosted by Sky Sports F1 lead commentator and lifelong hammers fan, David Croft. The irrepressible auctioneer Jonny Gould put in an indefatigable performance playing bidders off against each other to extract the maximum cash for the benefit of the West Ham Academy.

It was great to chat to 1966 World Cup ‘hatrick’ hero Geoff Hurst and see him pick up his 2016 Lifetime Achievement Award

Geoff Hurst with his Lifetime Achievement Award

Geoff Hurst with his Lifetime Achievement Award

The PRTC guests

The PRTC guests

Dimitri ('We've Got') Payet cleaned up by taking five awards

Dimitri (‘We’ve Got’) Payet cleaned up by taking five awards and was named ‘Hammer of the year’

A word from 'happy' captain Mark

A word from ‘happy’ captain Mark

On a personal level, it was great to meet Slaven and many of the players and say ‘THANK YOU!’ for a great season – they all obliged with a selfie…here are a few of them!

...with the gaffer

…with the gaffer

...with Andy Carroll

…with Andy Carroll

.......with James Collins

…….with James Collins

 

PRTC AT MARK NOBLE’S TESTIMONIAL – 28 MARCH 2016

Mark's Guard Of Honour

Mark’s Guard Of Honour

What a lovely way to spend Easter Monday to honour and pay respects to the West Ham captain Mark Noble. The Easter sunshine also came out to show homage.

Mark Noble joined the club as a 13 year old schoolboy and has now amassed some 350 first team appearances – no wonder he is affectionately known as ‘Mr West Ham’

It was great to see many formers Hammers players featuring in a West Ham United All-Stars squad lining up against the current West Ham United team (although Dimitri Payet was on international duty).

Paolo Di Canio, Teddy Sherringham, Carlton Cole, Craig Bellamy, Scott Parker, Stewart Downing, Dean Ashton, Trevor Sinclair, Julian Dicks and Ludek Miklosko showed they were still useful with the ball.

Memorable moments were

– Adrian dribbling all the way up the field to score a goal (with Michail Antonio dealing with those who were in Adrian’s path!)

– Dean Ashton’s overhead kick wonder goal

– Guard of honour for Mark Noble at the beginning and the end of the game

– Deserved standing ovation from the 35,000 Hammers crowd

Here are some photos from the memorable afternoon:

PRTC guests line-up outside the box!

PRTC guests line-up outside the box!

Mark Noble interview on Big Screen

Mark Noble interview on Big Screen

Mark Noble acknowledges the standing ovation

Mark Noble acknowledges the standing ovation

 

West Ham v Everton – Match ball sponsor (7 Nov 2015)

We were pleased to be able to be the Match Ball sponsor at the West Ham v Everton game at Upton Park. The biggest upset was James McCarthy’s ugly tackle on Dimitri Payet, which looked like a ‘sending off’ offence.  Payet was replaced by Enner Valencia who threatened on several occasions and then he was forced off by a tackle from Seamus Coleman.

The game ended in a 1-1 draw, with Victor Moses being awarded Man Of The Match.

Match Of The Match Presentation with Victor Moses

Match Of The Match Presentation with Victor Moses

PRTC advert on big screen

PRTC advert on big screen

Neil Warren with signed match-ball

Neil Warren with signed match-ball

Nick and Fran Rayney with signed match-ball

Nick and Fran Rayney with signed ball

Dave Cartwright Memorial Concert – 4 November 2015

This year, we suddenly lost Dave Cartwright, who was probably one of our most under-rated folk songwriters and performers. And it was most fitting that his admirers and fans organised an evening to celebrate his 50 years in music and performing at The Conquest Theatre in Bromyard (Herefordshire).

John Montague presenting a cheque for £1,900 to Keith Cowieson of Songbird Survival

John Montague presenting a cheque for £1,900 to  Keith Cowieson of Songbird Survival

We were proud to have sponsored his memorial concert which included a host of musicians, songwriters and poets, including Richard Digance, Harvey Andrews, Bev Pegg, Hennesea , Roy Smith, and John Montague.

The concert raised £1,900 amount for Dave’s Family’s chosen charity ‘Songbird Survival’.

PRTC GOES TO RADIO 2 IN THE PARK

Gallery

This gallery contains 10 photos.

Our guests had a great time at the ‘Radio 2 in the Park’ festival – aka a one-day Glastonbury for Radio 2 devotees. Rod Stewart was billed as the ‘headline act’ and certainly wooed the crowd with his energetic Celtic … Continue reading

PRTC @ PROMS IN THE PARK 2015 – 12 SEPTEMBER 2015

PROMS 2015 PROG

Our guests had a wonderful time at the 20th BBC Proms in the Park – perhaps the greatest yearly celebration of wonderful music and British patriotism – all held together by the incomparable Sir Terry Wogan.

In the first half, we were treated to a star-studded line-up including Beverley Knight & Matt Cardle with the cast of Memphis, Russell Watson, trumpeter Alison Balsom, soprano Danielle de Niese,  Carma Emerald, and The Jacksons – who still can show us how to boogie!

Then we were whisked off to join the Royal Albert Hall to witness the best fervent sing-song in the land. I was hugely impressed with conductor Marin Alsop – who gave a memorable speech which included these lines:

“…I’m not going to pretend that music alone can change the world but, here tonight in this incredible hall with all of you here, I feel the power of music to unite us and to bring out the best that humanity has to offer. We have to reach out to those people who are struggling to be heard today. Let’s bring the sound of our voices together so that it reaches out to people everywhere to all of our brothers and sisters.

That is the great power of music..”

Finally, here are some extracts from our guests emails

When I think about being together it still feels wonderful inside

“We thoroughly enjoyed it and the event (+ your generous hospitality) is something which we shall always remember”

Here is a selection of our photo scrapbook of that wonderful evening.

PromsinPark2015_table2

The PRTC table with John C showing off his proms regalia!

Mary and Tam and the Welsh Dragon!

Mary and Tam and the Welsh Dragon!

All our guests line up

All our guests line up!

JC and the Proms Apron

JC and the Proms Apron

Peter & Patricia - all dressed up!

Peter & Patricia – all dressed up!

Carma Emerald

                     Caro Emerald

The Jacksons - Blame It On The Boogie

The Jacksons – Blame It On The Boogie

A great proms selfie by conductor Marin Alsop

A great proms selfie by conductor Marin Alsop

Fireworks finale

Fireworks finale

PRTC SPONSORS WEST HAM UTD GAME V BIRKIRKARA FC (UEFA EUROPA LEAGUE) – 16 JULY 2015

We were very pleased to be able to sponsor the first leg of West Ham Utd’s second round tie with Birkirkara FC. The Hammers rode out 1-0 against a heavily defensive Maltese side, with James Tomkins chesting the ball in from a well-struck corner from Mauro Zarate.

We (I) chose Mauro Zarate as our man of the match for his skilful display.

Presenting Man Of The Match Award to Mauro

Presenting Man Of The Match Award to Mauro

PRTC on the Big Screen

PRTC on the Big Screen

PRTC on the Big Screen 2!

PRTC on the Big Screen 2!

The Irons Pose!

The Irons Pose!

SUMMER BUDGET 2015 DIVIDEND TAX HIKE FOR OWNER MANAGERS

Tax pundits have been telling us for many years that income tax on dividends would increase. That moment finally arrived in the Summer Budget 2015 but we never thought it would be like this.

Our beloved imputation system – designed to prevent double taxation of corporate profits – will be consigned to the fiscal dustbin on 6 April 2016. The Treasury points out that this regime was “designed more than 40 years ago when corporation tax was 50 per cent and the total bill on dividends for some was over 80 per cent”. Similarly, the (non-reclaimable) 10% tax credit that has been carried with dividends since April 1999 will be scrapped.

In its place, Chancellor George Osborne unveiled a progressive series of dividend tax rates that will ‘kick-in’ from 2016/17. However, dividend income will benefit from a new £5,000 tax-free allowance. Taxable dividend income in 2016/17 will be taxed at the special tax rates shown in the table below

Dividend tax rates – 2016/17  
Taxable dividend income* Tax rate** Comparable rate in 2015/16
Up to £32,000 7.5% Nil
Between £32,000 and £150,000 32.5% 25.0%
Above £150,000 38.1% 30.6%
 
* Total dividend income after £5,000 exemption and any available personal allowance
** Rate applies to actual dividend received with no grossing-up  

From 2016/17, the new dividend tax regime brings in much higher tax rates. A review of the total tax costs (including corporation tax) of paying dividends out of a typical owner-managed company is provided below:

 

Slide1

 

Owner-managers will look at this table with some dismay – these are significant increases. For many years now, most owner managers have pursued a ‘low salary/high dividend’ profit extraction model since this proved to be more tax efficient. Dividends were taxed at lower rates than earnings and they did not attract (Class 1) national insurance contributions (NICs).

Companies that exploit the ability to pay ‘tax-free’ dividends of around £35,000 to spouses will now see such amounts taxed at 7.5% from 2016/17. This should still produce typical tax savings of 25% (i.e. 32.5% less 7.5%) of the dividend and hence such planning will still be worthwhile.

The 2016/17 increases in dividend tax will narrow the tax differential between bonuses and dividends, so that dividends become only marginally preferred – see example of ‘bonus v dividend’ comparison below:

Slide1

Many owner managers are likely to consider accelerating dividend payments before April 2016 to benefit from the current lower rates. Provided ‘their’ companies have sufficient distributable profits, additional dividends can be paid out. If the company still needs the cash for working capital or future investment, it can be ‘invested’ back in the company as a director’s loan. Bringing forward dividends to the current tax year means advancing the tax due on the dividend but this disadvantage will be outweighed by the tax savings.

Some owner managers will now seek to retain more profits within the company at low rates of corporation tax (which should reduce to 18% by 2020). There may also be a tendency to take out these reserves on ‘retirement’ via a ‘capital’ company purchase of own shares transaction.

It appears, HMRC has no plans to increase the 25% ‘section 455’ tax charge on loans to participators. This is bound to encourage more owner managers to ‘live’ off overdrawn loan accounts at a reasonably palatable tax rates (especially with the beneficial loan charge currently based on an interest rate of 3.25%).

The hike in dividend tax rates is expected to swell the Treasury’s coffers by some £2 billion a year and is one of the biggest revenue raisers in the Summer Budget. However, the Treasury may have underestimated the behavioral response of owner managers and the predicted tax take may well fall short of that figure – due to the ‘laffer-curve’ effect, but that is a discussion for another day.

Peter Rayney