An artists impression of the proposed

convention centre
Auctioneer bids for icy
aid to conquer Yukon
DETERMINED Newport-based
property auctioneer Paul Fosh
remains cool about the chal-
lenge he has set himself to
complete the toughest endur-
ance event in the world.
But Paul now says he needs to
get even colder.
The owner of Paul Fosh
Auctions has entered The Likeys
6633 Ultra 2015 Arctic Ultra, which
is taking place in March next year.
The auctioneer is looking for
someone, or perhaps a business,
with a large industrial walk-in
freezer in which he can put him-
self and also his cold weather gear
to the ultimate test.
Paul has set his sights on com-
pleting the gruelling 120/350 mile
challenge to raise 15,000 for
Macmillan Cancer Support.
His main sponsors for the chari-
ty event are HSJ Accountants,
Quality Solicitors Rubin Lewis
OBrien, Paul Fosh Auctions,
Rightmove/Agents Giving and
Auction Finance.
He said training for the infa-
mous event is going to plan other
than that he needs to test himself
in sub zero temperatures.
Paul said: I will be encounter-
ing temperatures of -30c and the
possibility of snow blizzards, ice
floes in The Likeys 6633 Ultra and
having to fend for myself the
entire time.
Id like to see what its like at
those temperatures and the only
way I can think I can do that at
home is by getting inside an
industrial freezer.
Im hoping perhaps one of the
large supermarket distribution
centres may be able to help as I
know that they have huge freezers
in which they store perishable
and frozen goods at sub zero tem-
peratures.
A keen runner and general out-
door sports person, the married
father to four Paul, aged 48, who
lives in Monmouth, has signed up
for what the organisers, Likeys of
Brecon, describe on their website
as quite possibly the toughest
race of its kind on the planet.
Paul will be one of just 25 people
taking part in the challenge which
will see them cover at least 120
miles, but potentially up to 350
miles, in the Yukon, northern
Canada, almost entirely within
the Arctic Circle pulling all the
equipment they need behind them
on a sled, or pulk.
The event has been run on six
occasions and in that time only
eleven people have completed the
350-mile course.
Anyone who can help Paul in his
quest to find a freezer is asked to
contact him by email paul@paul
foshauctions.com or call 01633
254044.
To sponsor Paul visit virgin
moneygiving.com/PaulFosh and
also take a look at 6633ultra.com
Follow us on Twitter: @SWABusiness
By Jo Barnes
01633 777240
jba@gwent-wales.co.uk
Twitter @SWABusiness
Area to get boost
Super cool: Paul Fosh is looking to get in some sub zero training
From page 1
achieved everything we
wanted from a Wales point
of view. We do conferences
day in, day out here for all
sorts of blue chip compa-
nies but what we wanted to
achieve for ourselves and
all the partners involved in
staging the summit, from
Newport City Council right
up to Downing Street, was
to get Wales seen as a busi-
ness destination.
We wanted to put business
tourism back on the agenda.
It couldnt have gone any bet-
ter. The feel good factor is still
there. Everyone is still buzzing
about it. There is a feeling that
this was a great event for Wales
and that is what we set out to
achieve.
Mr Edwards said the resort
would never have been able to
host the Nato summit without
all the infrastructure which had
been put in place for the 2010
Ryder Cup.
The Ryder Cup was a really
important platform. It was the
event which enabled us to go on
and host the summit. Without it
Nato would not have come to
Wales.
He said: There will be a lega-
cy for the area without a doubt,
and for the Celtic Manor and
our partners who helped host
Nato.
It is how we go after that busi-
ness tourism which is now so
important and the convention
centre will certainly help us do
that, he said.
Osbornes welfare freeze and
tax plan wins praise all round
BUSINESSES welcomed Chancellor
George Osbornes speech to the
Conservative conference in
Birmingham, in which he spelt out
plans to freeze working-age benefits
and tackle tax avoidance by multina-
tionals.
CBI director general John Cridland
said: The economic recovery is
strengthening, but its certainly not
job done, so businesses will be
buoyed to hear the Chancellor com-
mit to an economic plan for the long-
term. Investment in infrastructure,
like runways, and in skills are the
right choices to boost growth across
the country.
John Allan, national chairman of
the Federation of Small Businesses,
said: We welcome the Chancellors
strong sense of ambition and aspira-
tion for the UK to be the best place
to do business in the world, and for
his clear backing for small business-
es. His speech echoed many of our
manifestos proposals, with clear
commitments to lower business
taxes, and to boost growth outside
London and the South East through
investment in much-needed infra-
structure.
Simon Walker, director general of
the Institute Of Directors, said: The
IoD has long maintained that if you
believe in free markets, you have to
recognise when the system breaks
down or trust in it is eroded.
Tackling the perception that multi-
nationals get a sweeter deal than the
vast majority of businesses is the
right thing to do, but can only be
effective when combined with a radi-
cal simplification of the UKs sprawl-
ing tax code. Amidst all of this, a
continuing focus on fiscal restraint
and deficit reduction will reassure
businesses that the government rec-
ognises an old truth, that sound pub-
lic finances constitute the bedrock
on which all businesses are built.
Tuesday, September 30, 2014
7
Business Argus
AUTO-ENROLMENT of workplace
pensions commenced in October
2012, it started with the largest
employers first and by February 2018
every employer in the UK will be
affected.
As an employer, youll have new
duties in relation to everyone work-
ing for you, who is aged between 16
and 74,who work in the UK, and for
whom you deduct income tax and
national insurance contributions
from their wages.
The whole area of auto enrolment
is a complicated one, determining
who is an eligible worker or an enti-
tled worker for instance needs con-
stant monitoring.
However one area that can help
with the burden of the new regime is
Salary Sacrifice.
Benefits to the employee:
Depending on how the sacrifice is
established and the type of scheme
involved, the employee typically
achieves a higher contribution for
the same level of net spend. This
extra contribution is arrived from
avoiding personal national insur-
ance, a small gain in tax-relief and
sometimes an additional but discre-
tionary extra contribution from the
employers national insurance sav-
ing as well.
Benefits to the employer: The
employer avoids national insurance
on the amount sacrificed by the
employee and many employers give
some of this saving back to boost the
members contribution.
The balance of any saving can be
used by the employer for other busi-
ness costs, although the obvious
spend at this time would be to help to
meet some of the costs associated
with auto-enrolment. As well as the
cost benefit, the employer may also
gain from improved employee rela-
tions.
For further information and advice
regarding the area of auto-enrol-
ment, contact Kymin Financial
Planners at kymin.co.uk
By Robin Hall, Kymin
Financial Planners