Ogilvie Munro Corporate Finance Ltd have recently completed the following deals:

• We sold Group KZ an oil and gas service business in Scotland and Kazakhstan to National Oilwell Varco a Houston based listed company.

• We raised bank finance for ECS, a large IT services business.

• We raised a funding package from UK Steel and West of Scotland Loan Fund for Responsible Packaging Ltd.

• We acted for Gemini Medical Care Ltd on their acquisition of Fleming Pharmacy, Edinburgh funded by equity and Royal Bank of Scotland.

• T Systems Ltd, part of Deutsche Telecom/ T Mobile inward investment into Glasgow software centre of excellence which we advised on and negotiated an RSA grant from Scottish Enterprise.

• We sold JDR Fencing Ltd a long established site contractor based near Hamilton to Brampton Hall Ltd in June 2011.

• We advised Corrie Construction Ltd on a successful bank fundraising in the Summer of 2011.

• We negotiated an RSA grant, bank and West of Scotland loan funding for Maclean and Speirs Blasting Ltd a metal treatment company near Paisley.

• We advised the vendors on the sale of a Glasgow based webhosting company to a listed company.

• We are very busy with acquisition and disposal opportunities in the technology, whisky, healthcare, IT services /software and food sectors.

• Despite challenging conditions we continue to be able to raise finance for clients projects across several sectors and have undertaken work for clients in India and USA.

• Congratulations to clients Responsible Packaging Ltd runner up in Lanarkshire Business Awards and Ecowand Winner of the UK wide HVR Best New Product Award.

• Glenglassaugh Distillery Co Ltd and Pagazzi Lighting Ltd also won industry awards.

We are doing more and more EIS relief/R&D Tax Credit work, dealing with
raising private equity, franchising and RSA grants. 

For more details please contact Colin Botfield.

   Tax Update

1. Annual investment allowances being cut to £25000 from £10000 on 1 April 2012 – may want to incur capital spend prior to then.

2. EIS Relief now 30% of sum invested up from 20%; tax free gain if shares held for 3 years.

3. Auto enrolment of staff into pension scheme and up to 5% contribution from 1 April 2012. Tax deductible expense but an effective wage rise.

4. Loss of CIS gross payment status for poor compliance, payment record of all taxes.

5. Penalties on incorrect self assessment returns up to 30% of tax.

For tax matters and advice contact Inland Revenue www.hmrc.gov.uk