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The ‘Lap of Anglia’ cycling event is not for the faint hearted! It is a 4-day immersive cycling experience, travelling 435 miles and a climb of 14,167ft, which is half the height of Everest! All money raised will go to the East Anglian Air Ambulance which is based just a few hundred metres from the Credo Office.

The event itself is in it’s 12th year, started in 2013, and John took over the organisation in 2014. John hopes the fundraising total will this year take them to over £275,000 raised for the East Anglian Air Ambulance.

This year the event which is from 21st – 24th August, has over 60 riders including 8 from the charity itself including the CEO, Medical Director and Paramedics.

The route:

• Day 1 Norwich to the coast and back into Ipswich
• Day 2 Ipswich across the country to Luton
• Day 3 Luton up to Kings Lynn
• Day 4 Kings Lynn to Norwich.

We asked John – What has made you carry on with this every year, what is the motivation?

“The motivation is to help keep the Air Ambulance in the sky saving lives. The charity is self-funded and for such a lifesaving service this is a huge task to achieve the amount of money each year that they need. Each flight costs a huge £3750!

During the event from 8am Wednesday till 6pm Saturday the charity spent over £70,000 in life saving support.

Seeing the Air Ambulance in the sky knowing our event plays such a big part in the upkeep is superb”.

Above: Photos from the 2023 event where Team Credo joined in for the first leg of the journey, and John (pictured far right) completed the full 435 miles!

If you would like to make a difference and donate, please click here

What does the Spring Budget mean for SME’s?

Amidst the UK’s entry into a technical recession towards the end of 2023 and with a looming general election on the horizon, Chancellor Jeremy Hunt faced mounting pressure to unveil a Spring Budget that showcased both fiscal prudence and generosity.

Branding the fiscal statement as a ‘Budget for long-term growth,’ Hunt centred his address on implementing tax incentives, enhancing investment, and addressing inequities within the UK tax framework. What will this mean to your business?

As is customary, a new Budget announcement from the Chancellor of the Exchequer can elicit varied reactions. For some, it brings favourable outcomes with the introduction of fresh allowances and initiatives, while others may feel overlooked amidst the fiscal rearrangements.

In the Spring Budget, alongside a substantial £10 Billion National Insurance reduction effective from April, support for businesses through the continuation of the Recovery Loan Scheme was emphasised. Now rebranded as the “Growth Guarantee Scheme”, running from July 1st, 2024, to March 31st, 2026, it promises a 70% loan guarantee on amounts up to £2 Million. This initiative aims to benefit approximately 11,000 companies across the UK, particularly those situated outside London.

A significant alteration introduced in this year’s Budget is the extension of the “full expensing” tax break. Previously limited to certain qualifying expenses without minimum or maximum thresholds, this provision didn’t extend to leased assets. However, there has been a notable shift in this regard, with leased vans, trucks, and plant and equipment now eligible for the tax break. This adjustment is anticipated to provide a boost to companies predominantly reliant on leased equipment rather than outright purchases.

Previously, leased vehicles were exempt and, although cars still look unlikely to be included, this is a positive step forward. Draft legislation is currently being developed to formally incorporate the full expensing of leased equipment into the legal framework.

With the freeze on the basic rate band of income taxable at £37,700 until April 2028 and no changes to Corporation Tax, the increase in the VAT registration threshold from £85K to £90K aims to foster business expansion.

Additionally, the decision to maintain the freeze on fuel duty and Benefit in Kind rates for company vehicles until 2027/2028 has provided reassurance to company vehicle owners and car drivers. Underlined as the “Budget for Long Term Growth”, it is hoped that these measures will contribute to delivering on this objective.

Read the Spring Budget 2024 in full here

As this year draws to a close, we would like to say a very big thank you for your custom during 2023.  We, like you, have felt the ups and downs of the economy over the last 12 months, but we are pleased to have been able to continue to support so many businesses throughout this time.

This year our business received one of our sector’s most coveted national awards – The Business Moneyfacts  ‘Asset Broker of the Year’ award – in recognition of our high levels of customer service to businesses like yourself.  

We pride ourselves on being part of “the national business with a local touch”, and instead of spending money on printed Christmas cards for all our customers, this local focus has driven our decision to support the work of The Community Sports Foundation based in Norwich this year, with a donation of £500 this Christmas, so that they can carry on their amazing work at a time when it is most needed.

Supporting this great local charity, especially at this time of year, really will make a difference to the lives of people in the communities in which we at Credo do business.

We would like to take this opportunity to wish you all a very Merry Christmas, and a Happy New Year.

Our Office Opening Hours Over Christmas:

Friday 22nd December • 9am – 2pm

Monday 25th – Tuesday 26th December • CLOSED

Wednesday 27th – Friday 29th December • 10am – 4pm

Monday 1st January • CLOSED