Truro-based Ignition, a leading UK provider of vehicle and asset finance for SMEs, is continuing to expand with the appointment of two new senior members to its team.

The company, which offers finance for a wide range of assets from plant and machinery to vehicles and business equipment, offers flexible solutions either using its own funds or via joint trading relationships with a panel of major finance houses. Since its acquisition by Star Asset Finance Group in 2015, it has been driving to expand its workforce and extend its geographical reach.

Steve Haysom joins Ignition as Business Development Manager. Formally a Relationship Manager at Lombard, Steve has worked in asset finance for 13 years, with experience in many different sectors from tourism to catering, hauliers to plant hire.   Based in Honiton, Steve is well-placed to strengthen Ignition’s offering across the South West, principally supporting businesses across Devon, Somerset and Dorset.

Also new to the team, Stuart Berry has been appointed as Broker Manager, joining Ignition’s growing Broker Finance Department.  Stuart began his career in the finance industry 20 years ago, and for the last 11 years has been working specifically in broker management roles, most recently at Shire Leasing.  Based near Manchester, Stuart will be primarily focussing on strengthening Ignition’s broker relationships within the North of the country.

According to Managing Director, Alan Tutte, Ignition has experienced a strong track record of growth in recent years, particularly since its acquisition by Star in 2015.  This has led to several new appointments, with the latest recruits bringing the total number of employees to 18.

“The business climate for Ignition is certainly looking bright.  Our last financial year was by far our best on record, which we can attribute to a strong and focussed team, who continue to deliver great solutions and customer service to our clients, forging lasting relationships.

“We’re delighted to have Steve and Stuart on board.  By expanding our team with these highly experienced professionals, we will be able to build on our success and strengthen our reach across key regions and markets.”

What will April’s car tax changes mean for customers buying new cars?

From April this year, a revision of vehicle tax bands will come into force, which will affect the amount of Vehicle Excise Duty (VED) payable on all new cars.

For anyone considering buying a new car in the near future, it’s worth exploring whether the changes are likely to work in your favour, or whether it would be more advantageous to buy before the 1^st April.

With the new system, all new cars will see a substantial increase in tax during the first year of registration, followed by a flat rate of £140 per year.  For alternatively-fuelled cars such as hybrids, the amount is reduced by £10 in the first year and will be £130 for subsequent years.

Comparing the tax you’re likely to pay before and after April, depends largely on the type of vehicle you’re planning to buy and its CO² emissions.   As a general rule, smaller more economical cars will see the biggest increase in tax.   A five-year £310 supplement is also to be introduced for cars costing more than £40,000, which will have an impact on purchases at the higher end of the scale.

If you’re considering purchasing a new vehicle, whether for business or personal use, do get in touch soon to discuss your requirements, so that we can recommend the best time to buy.  You may need to get your skates on!

As expected with Brexit negotiations just around the corner, Phil Hammond delivered a fairly cautious budget last week, with no major changes to the tax system.

Probably the most controversial measure is that self-employed workers will see a rise in their National Insurance Contributions (NICs), bringing them more in line with NICs paid by those in employment.   This is a blow to small businesses in particular, and critics argue that it goes against ‘tax lock’ promises made in the Conservative manifesto.

Family businesses and investors may also be affected by the reduction in tax free dividend allowances for shareholders from £5k to £2k from April next year.

Hammond also announced some measures to help businesses that may lose out in the planned re-vamp of the business rates system.  Any business coming out of Small Business Rate relief will benefit from a cap of £50 per month on any increase. In addition, local authorities will have access to a £300m fund to deliver discretionary relief to some of those hardest hit by the changes.

By Paul Caunter, Director

Ignition, a leading UK provider of vehicle and asset finance for SMEs, is welcoming a new Broker Manager to its expanding team.

Mike Bossom is joining Ignition’s Broker Finance department, bringing with him 38 years of industry experience.  Mike spent most of his early career with Capital Bank as Branch Manager, then Area Manager.  Since 1998 he has managed a number of small finance companies in various financial sectors, latterly specialising in the broker market.

Ignition offers finance for a wide range of assets from plant and machinery to vehicles and business equipment, either using its own funds or via joint trading relationships with a panel of major finance houses.  Assets funded can include anything from coffee machines and HGVs, to solar farms or classic cars.

The company has grown substantially since its acquisition by STAR Capital Partners last year, with a series of new appointments helping to consolidate its reach across the UK.  Mike Bossom will be based near Guildford, focusing primarily on the broker markets in the South and East. He comments:

“It’s great to join the Ignition team at such an exciting time for the company.   I’m looking forward to growing business in those sectors where Ignition has particular strength and expertise, for example business and commercial vehicles, classic cars, construction and catering.”

Alan Tutte, Managing Director of Ignition comments:

“We’re delighted to have Mike on board.  He brings with him a wealth of experience in asset finance, and will no doubt prove to be invaluable in strengthening our broker finance offering.”

Ignition, a leading provider of vehicle and asset finance for SMEs, has put a spring in the step of a new business start-up by helping to finance a brand new trampoline park in Cornwall.

The new Jump 4 Trampoline Park at Duchy Business Park in Pool, near Redruth, opened its doors open on Friday 9^th December and has the local community bouncing with joy.

Ignition offers finance for a wide range of assets, and was able to help with the fit-out of the new trampoline park, including the purchase of some 66 trampolines.

Jump 4’s owner and local business man, Robert Kujawski, was inspired to bring the park to Cornwall after visiting other popular trampoline parks across the UK with his family.  The park already boasts a 120 capacity café which opened in October, and will offer children’s parties, fitness classes, a dodgeball league and sessions for toddlers.

Rober Kujawski commented: “Ignition were more than helpful in arranging a competitive financial solution for the Jump 4 park.  Everything was sorted out quickly and easily, enabling me to focus on planning and preparation for the opening.  I wouldn’t hesitate to recommend Ignition to other businesses.”

Steve Hunt, Director at Ignition commented:

“Jump 4 is exactly the kind of business we like to help.  When starting out, new businesses often face enormous costs, and need to purchase new equipment just to get off the ground.  We can offer competitive and flexible solutions that provide an essential financial boost just when it is needed most.”