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The Benefit of EIS for New Investors

The Benefit of EIS for New Investors

Outt.com is delighted to have received Advance Approval from The Enterprise Investment Scheme (EIS) because it means offering a tax perk to every investor who decides to join our crowdfunding journey.

The reality is that deciding whether to purchase equity shares – and the potential tax implications – can feel like a complex decision. EIS Advance Assurance, in essence, means that anybody who invests gets up to 30% tax relief every year on any crowdfunding investments up to £1 million.

Let’s clarify that our round on Crowdcube means you can buy shares in Outt.com from just £10, so there’s no expectation of large investment. Here’s what that means and how investing in social care sector innovation could happily benefit your tax bill.

Why EIS Advance Assurance is a Big Deal for OUTT.com Investors

The EIS is a UK government scheme designed to give a helping hand to newer businesses and those with influential ideas but not limitless pockets. Seasoned investors tend to search for crowdfunding projects with the EIS approval we’ve secured – it means they can lower their tax bill by choosing to invest with firms who have done the legwork to offer this distinct advantage.

We’ll explain the benefits in more detail shortly, but the crux of it is that:

  • However large or small, any investments made qualify for up to 30% income tax relief for every tax year.
  • Returns you make are free from Capital Gains Tax, provided you’ve kept hold of them for three years or more.
  • If you sell your shares, or they drop in value, any loss on your investment is offset against your income tax – it’s a worst-case scenario, but still, there’s the assurance that you won’t lose out either way.
  • Should you make a profit and decide to reinvest that cash in another crowdfunding raise or EIS-qualifying company, you can defer your Capital Gains liability.

It’s essential to point out that tax relief is depend on your tax status – for example, the amount of income tax loss offset depends on your regular tax bracket, so it might look a little different between investors.

However, whilst eligibility for tax reliefs can vary, any qualifying individuals will benefit.

What is the EIS Scheme?

EIS is a government-backed initiative, so fully HMRC compliant and streamlined to apply for along with regular tax returns and other declarations – using your tax relief reward doesn’t require any substantial amount of additional paperwork.

The idea is that investors who buy shares in small businesses get a bonus for their efforts through relief against their income tax. It’s a win-win situation, so we can reach out to interested investors, raise funds to scale up our ambitious business plan, and offer something back in return – immediately!

EIS schemes are designed for individuals, sometimes investing for the first time, wanting to:

  • Get involved in backing a business from the early days.
  • Keep their vested interest in a high-growth company.
  • Invest in shares with the potential to grow significantly.

Therefore, for Outt.com, EIS Advance Assurance is a fantastic achievement and takes us one step closer to realising our aspirations.

If you’re wondering about the ‘advance’ terminology, it purely means that the crowdfunding raise hasn’t finished yet. HMRC awards Advance Approval at this stage because the tax office can’t actively apply the tax relief till the investments are finalised.

WE ARE CROWDFUNDING!

*capital at risk

EIS Investment Tax Relief Examples

We appreciate that some investors will be well-versed with EIS tax relief, and it might be a new concept to others, so let’s demonstrate precisely how it works with some examples.

Scenario One: Shares Remain Stable

In our first illustration, we’ll consider an investment in £100 of shares, which remain worth a consistent value. Stable share valuations do not mean that you don’t qualify for tax relief since it applies to the investment made, not solely against returns or profits.

HMRC applies tax relief of 30%, so £30 on our example value, and that amount is knocked off your income tax. The calculation doesn’t change no matter how much or how little you invest – provided you’re within the £1 million investment cap.

Therefore, if you bought £10,000 of shares, you’d get a £3,000 tax reduction or repayment.

Scenario Two: Shares Increase in Value

Let’s look at it from another perspective and consider what happens if your Outt.com shares are worth double their value in three years.

If you invested the same £100, you’d get an equal £30 income tax deduction, but your shares are now worth £200 – so a total gain of £130. Given that you’ve retained your shares for three years, there is no Capital Gains Tax to pay on your £100 profit.

The same goes for a £10,000 investment. You’d receive your £3,000 income tax relief, plus the personal gain of £10,000 as your share ownership has doubled in value.

Scenario Three: Shares Drop in Value

It’s only right that we look at every angle to ensure all prospective investors understand how EIS Advance Assurance impacts their share ownership if they don’t perform as we anticipate.

Shares worth the same £100 always maintain eligibility for tax relief up to 30%, regardless of how equity investments perform. However, you’d also earn loss relief on any drop in value.

The exact relief depends on your tax bracket, but you will get 20% back on the £100 lost if you’re a basic rate taxpayer, so there’s an in-built safeguard, even if shares lose value at some stage.

Benefits of EIS Scheme Eligibility

EIS Advance Assurance reinforces the opportunity to invest in innovation and benefit from a range of advantages as an added incentive with a blend of upfront and continual tax reliefs.

Tax relief values depend on the amount invested but offer a considerable benefit against other crowdfunding opportunities at any level. And, if we can make a difference to your taxes, think about what else we can achieve!

 

Why We Are Fundraising Through Crowdcube

Why We Are Fundraising Through Crowdcube

With the news literally streaming coverage of social care staff shortages, the time has never been more relevant than right now, for Outt.com to launch.

The OUTT.com crowdfunding raise is the next phase in developing our market-leading business strategy and reconfiguring how the vital UK care sector operates. With substantial demand and reducing capacity, this opportunity comes at an optimal time, with the potential to generate rapid growth in the coming months and years.

Let us explain how crowdfunding works, the process involved, and why we’ve chosen Crowdcube as our preferred fundraising platform.

We appreciate that some potential equity investors may not have used a crowdfunding provider before, so we wanted to clarify why this form of flexible investment provides a secure, simple way to acquire an ownership stake in OUTT.com.

The OUTT.com Crowdfunding Offer

Our objective is to make investment an accessible option and not only available through brokers and high-cost investment frameworks that create a barrier for millions of people interested in buying shares.

As a relatively new way of raising finance, crowdfunding has a range of considerable advantages over conventional business financing. Those benefits include the chance to offer shares to a much wider pool of investors and be more adaptable in the way we work.

What is Crowdfunding?

Crowdfunding has become increasingly prevalent in the modern investment landscape because it is hugely more efficient and means OUTT.com can invite early investors to get on board.

Investors contribute small amounts and collectively raise sizable amounts of finance to ensure we can advance our business approach with conviction. As an investor, buying crowdfunding shares means you have a tangible stake in OUTT.com with access to tax incentives and returns as we grow. For our team, crowdfunding will help us engage with investors excited about the potential for care industry-wide innovation.

The power of crowdfunding means that investors have an opportunity to participate with a business on a steep growth trajectory without a minimum investment.

How Does Crowdfunding Work?

If you’ve not used crowdfunding before, or aren’t sure how it works, let’s run through the process.

Crowdfunding is an incredible resource for challenger businesses and newer companies looking for more productive ways to develop their offering. Traditionally, investments have only been available to those with substantial amounts to invest, so crowdfunding means that anybody can get involved.

This form of capital fundraising brings together investors attracted by earning potential and contributing to dynamic businesses they’re passionate about.

Crowdcube works like this:

  • You sign up and create an account (it takes about 60 seconds, and there is no obligation to invest if you decide otherwise).
  • Next, you can browse pitches and review the business proposal, equity shares available, and the potential for the raise to deliver profitable returns.
  • If you decide to go ahead, you can buy equity shares from just £10 in increments per share, depending on how much you’d like to invest.

Now, the pitch isn’t indefinite and will close when it is fully funded. However, there isn’t a specific time pressure.

If the raise is oversubscribed and we know some investors would have liked to buy in, we will keep you informed if we expect to launch a further crowdfunding project for our next initiative.

WE ARE CROWDFUNDING!

*capital at risk

What is Crowdcube?

We’ve mentioned Crowdcube, which is the platform we felt best aligned with our business aspirations and overall culture of inclusion and transparency. The firm is an established crowdfunding platform based in the UK, aimed at entrepreneurial businesses raising finance to make groundbreaking ideas a reality, so we felt at home!

Although crowdfunding is still somewhat new, Crowdcube has already delivered returns in the millions to investors and backed some incredibly successful start-ups, so it has an impressive track record of promoting high-growth businesses. Hence, it’s an excellent place to raise capital and be a part of a growing community.

Why Did We Choose Crowdcube Over Seedrs?

If you’re a seasoned crowdfunding investor, you might wish to know how we landed on Crowdcube – and it wasn’t a quick decision – it’s massively important to Outt.com we get this right!

Seedrs and Crowdcube collectively handle more UK transactions than any other. We knew we wanted a British crowdfunding site since it means there aren’t any complications for investors – such as trying to convert pricing from dollars or manage extra costs such as international transaction charges. We also felt that a local crowdfunding platform would be advantageous for streamlined communications and provide complete control over the process.

In addition, we felt that it was essential to crowdfund with a platform that aligns with our overall business aims. Benefits such as Crowdcube Rewards offer a better deal for investors and mean that the platform is available to everybody – and isn’t solely about raising commission. The Rewards Programme includes free digital memberships, event invitations, branded merchandise and complimentary restaurant meals.

If you invest through Crowdcube, you own a direct equity investment in Outt.com – you’re a fundamental part of the operation, not a distant bystander, which is the case with many crowdfunded shares. That means we can welcome more investors, offer more advantages, and make a more significant mark on the care industry.

Investing in OUTT.com as a Stakeholder

A small capital contribution from a more significant number of investors makes sense for companies focused on social inclusion.

Crowdfunding was an obvious choice for Outt.com because we thrive in an environment of mutual effort, advocating for and supporting our staff. Having gained support from InnovateUK grant funding and EIS Advance Approval from HMRC, this recognition solidifies the validity of what we’re working towards.

Using a respected fundraising partner in Crowdcube ensures that private data is protected and investments made are secure, crucial to ensuring individuals can purchase shares with confidence. With a simplified investment structure and easy account management, it’s straightforward to see how your shares perform and decide how to reinvest or withdraw any profits made.

Please get in touch for more information about the Outt.com crowdfunding raise, investing through Crowdcube, or the potential investment returns available. We’d love to have you on board.

Working as a Support Worker in Homelessness

Working as a Support Worker in Homelessness

With around 280,000 homeless people in the UK, providing support and care for the vulnerable is vital for the social care sector. Support workers help the homeless in several compelling ways, all of which can make a substantial difference to their health, wellbeing, opportunities and lives.

Choosing a career in homelessness support can also be highly varied, with many roles on offer.

Outreach care workers provide practical support or assistance at clinics or community facilities with hot meals, basic care, washing and referrals. There are also many administrative and coordination roles.

We’ll explain the key personal skills vital to be an excellent homeless support worker and what sort of tasks are involved in a day-to-day shift.

For more information about vacancies in homeless support work, please visit our online information hub.

Roles and Responsibilities in Homelessness Social Care

The exact responsibilities involved in supporting the homeless depend very much on your skills, placement, and the social care facility you’re working with.

Some of the typical tasks might include:

  • Engaging with homeless people, listening to their challenges, and guiding them through the process to get help. That can mean referrals to services or organisations.
  • Keeping records, such as reports and notes of meetings, and checking if a homeless person is getting the assistance they need as identified in their support plan.
  • Talking to clients and ensuring they know about their rights and the support services available in the local area.
  • Liaising with other agencies, such as local authority support teams or charitable organisations.
  • Providing hands-on help with tasks such as basic health checks, taking down information, staffing community hubs for homeless people to attend, or working with a specific person or caseload to help them progress.

Many of the essential homeless support work positions are administrative since a great deal of behind the scenes management is imperative to put the right resources in place.

For example, you could work as a project manager to coordinate local services from a range of providers or work as a housing support liaison to ensure homeless people have the choice to access safe accommodation.

Vital Skills to Work in Homeless Support Roles

There are three primary elements to all homeless support employers:

  1. Helping people who are at risk of becoming homeless.
  2. Supporting those who have already lost their homes.
  3. Assisting people who live on the streets.

The exact nature of the support must be individualised. For example, some people don’t wish to be re-housed but need assistance with accessing other services since this can be extremely challenging without a permanent address.

Others are in desperate need of primary medical care and may need care work interventions, followed by signposting to agencies that can provide further help.

Some homeless roles focus on raising awareness and tackling broader issues that contribute to homelessness, such as lack of suitable social housing or slow benefits payments leaving people in crisis. To work in the sector, there are a few necessary skills you’ll need.

Most employers don’t have any specific qualification requirements (although some support roles require an NVQ2 or above). Still, they will always be on the lookout for outstanding interpersonal skills that can make such a difference in the engagement you have with a homeless person.

Ready to join OUTT?

Find social care shifts that you control!

Qualities Employers Look for in Homeless Support Work Candidates

Here are the most important things to demonstrate:

  • Understanding: homeless people come from all walks of life and can have challenging experiences that require a great deal of empathy and compassion. They can also be heavily marginalised and need support from people who can listen without judgment and help where it is most needed.
  • Teamwork: no one person can solve homelessness, and multiple agencies typically work together to coordinate their resources and provide the best outcomes. You will typically be working in a team and will need to provide support and backup to colleagues.
  • Advocacy: many homeless clients feel unable to make their voice heard or don’t try to access services since they have been turned away before. You need to have confidence, skill, and practical knowledge to develop plans and advocate for that person’s rights to receive the assistance they require.
  • Responsiveness: again, it’s critical to remember that homeless people may have very different aspirations, and there is no one-size-fits-all response. You may need to think on your feet, solve a crisis, or encounter challenging behaviour, which requires fast reactions and making snap decisions to calm things down.
  • Collaboration: any person requiring social care support will have some level of vulnerability. As a social care worker in the homeless sector, the ideal outcome is to work with each client. A person who is empowered and can take control over some aspects of their situation will be best served, so collaborating, compromising and negotiating are essential skills.

As we can see, these characteristics aren’t about certifications or previous experience but are personality traits and qualities.

Interpersonal skills are essential in being a great homeless support worker.

How to Get Started in the Homeless Support Care Sector

Whether you’re an experienced social care worker and looking to side-step into homeless care or are new to the industry and passionate about supporting this demographic, there are a few ways to begin.

First, we’d recommend registering as a contractor with OUTT.com (it’s free!).

All social care candidates are eligible to apply for any vacancies or shifts they would like, with the only prerequisite that you have six months of experience in any previous care role – in any sector and for any employer or agency.

You can join our skills Academy at zero cost, progress through online training courses, and browse local shift vacancies to get a feel for the placements available.

There are multiple social care opportunities in homelessness support. Many employers require a great mindset and willingness to learn, so you won’t always need substantial experience to be an excellent fit for a new role.

Demonstrating those crucial skills we’ve mentioned is the best way to secure a rewarding placement in homeless support – and make the world a more inclusive place, one day at a time.

Ten Ways to Manage Sleep Schedules When Working Night Shift

Ten Ways to Manage Sleep Schedules When Working Night Shift

Working night shifts and sleeping during the day can wreak havoc on your natural rest cycle – so it’s beyond essential to have strategies in place to make sure you get enough sleep, whatever time that might be!

Most care professionals will work a night shift now and then. Others will regularly work shift patterns, which typically involve a specific number of days on, and then a few days of rest to catch up.

Here we run through ten of our top tips to ensure you can manage night shifts without feeling run down.

1. Select Your Shift Patterns

It’s vital to bear in mind that we’re all different. Some care professionals can volley between night and day shifts without batting an eye, whereas others may find it a significant challenge.

Our first advice would be to ensure you’re comfortable that you can manage the shift work. All OUTT.com candidates have the freedom to pick and choose the shifts they’d like, so there is no pressure to work during the night if you find it difficult.

Shifts also vary between care homes or social care facilities. That might be six weeks on day shifts and four weeks on nights, often with a single stint lasting up to 12.5 hours at a time.

Alternatively, you might do a set number of night shifts per week. In that scenario, some care professionals find they don’t have time to readjust their sleep pattern before the following day, so keep an eye on your health and make a judgment call if you don’t feel your night shifts are sustainable.

2. Make a Family Plan

If you have pets to care for or school runs to accommodate, you will almost certainly require support with these day-to-day tasks when you’re working night shifts.

Letting those close to you know will ensure you have a support system in place. That could include:

  • Asking the postman not to ring the doorbell (a polite note or quick chat usually suffices!).
  • Ensuring people know your phone will be switched off during certain hours and not to panic if you don’t pick up.
  • Sharing out household duties and rotas so you’re not juggling other responsibilities while trying to catch up with sleep.
  • Having agreements about ‘household awake’ times. You might prefer to sleep in a spare room so you aren’t disturbed, or have rules around what times the TV can be on, for example.

Anything you can plan will make night shifts a lot less stressful.

3. Prepare Meals in Advance

When we’re awake all night and asleep during the day, our eating patterns also suffer a knock-on impact.

One of the best ways to manage this is to prepare meals in advance – you could batch cook a bolognese, for example, and keep portions in the freezer ready to whip up a homemade meal when you get home.

Some care facilities will also have minimal options overnight if canteens are closed, so bringing a nighttime meal with you is vital.

4. Value Your Sleep Hours

It’s common to feel guilty about being asleep during the day – so you need to make sure you’re not tempted to start doing laundry loads or cleaning the house when you should be getting much-needed rest.

There are many ways to improve your sleep quality, such as using earplugs, blackout curtains, blinds, soothing sleep playlists and switching all electronics to blue light filters (or turning them off completely).

Sleep quality is just as important as quantity, so a few hours of deep sleep will leave you far better rested than a whole day of tossing and turning.

5. Acclimatise Your Circadian Rhythms

We know that sounds like a strange instrument, but hear us out!

Your circadian cycle is your sleep vs waking cycle, and if you’re working nights for the first time, you might find it impossible to sleep during the day as your instincts tell you that it’s time to be awake.

One trick is to stay awake as late as possible the night before your first night shift.

That means you can sleep later in the day, wake up in the afternoon for work, and make a gentle adjustment, making it easier to rest the following day.

Ready to join OUTT?

Find social care shifts that you control!

6. Eat Well Before Sleep (but Ditch the Caffeine!)

Even if it’s just a small snack, we’d recommend having something to eat before you go to sleep.

There is nothing worse than drifting off to slumberland and then waking up because your stomach tells you it’s time for lunch! Having something nutritious and filling to eat will ensure you sleep well and won’t be disturbed by a hungry stomach.

Ensure you avoid any stimulants, such as alcohol, caffeine or smoking, which can disrupt your sleep cycle.

7. Drink Plenty of Water

We all know that staying hydrated is a great way to stay healthy and alert on a long shift – and this applies more than ever when working night shifts or adjusting between working patterns.

Water is a great way to stay awake, and won’t disrupt your sleep, as multiple cups of tea will! You can also drink herbal or fruit teas if it’s a quiet night shift – that means you get the comfort of a hot drink without finding it tough to switch off when you get home.

It’s also essential to be hydrated to ensure you don’t end up with raging headaches – a common side effect if you’re asleep most of the day, hence not drinking, and then forget during work.

We’d recommend bringing a water bottle or canteen with you to ensure you don’t miss out on drinking if you have a busy shift.

8. Embrace the Power Nap

If you wake up feeling groggy, pack your lunch in a daze and still feel drowsy, a power nap can do wonders. A quick 20 or 30-minute snooze just before your shift begins or on your lunch break is ideal.

The key is to avoid sleeping too long, as if you end up in a deep sleep, you’ll feel worse for it when you wake up and need to get back to work.

9. Don’t Drive if you Feel Exhausted

Another common issue with night shifts is that if you’re not yet adjusted, you can experience extreme tiredness in the morning when you’re about to go and get some rest.

You mustn’t drive if you’re feeling seriously sleepy. You can car share, take a brisk 10-minute walk before you leave, or book a cab if you have any doubt whatsoever about being alert enough to drive safely.

10. Make Time for Fun Activities

Finally, if you are working nights, you mustn’t make every waking hour about work. If you’re working 12.5-hour shifts and have 11.5 hours to yourself, you could split that up into:

  • Half-hour drive home.
  • One hour with the family over their breakfast while you have dinner.
  • One hour of rest to take a bath and perhaps indulge in a bit of pampering.
  • Seven and a half hours of sleep.
  • An hour in the evening to get dressed and ready, listen to music or spend time with your nearest and dearest.
  • Half-hour drive to work.

By building in two hours a day of quality time with your family, and an hour or two to yourself, you’ll still be able to manage those long night shifts without feeling like you’re missing out on other things.

Simon North – Finance Director Outt.com

Simon North – Finance Director Outt.com

Outt.com, the fast-growing marketplace for social care staff, is pleased to announce that Simon North has joined the team as Finance Director.

Simon is a Chartered Certified Accountant and holds a BA (Hons) in Economics, with years of invaluable experience in the recruitment and payroll industry.
Simon North FD at Outt.com
Working across a wide range of recruitment and payroll companies, including health and social care focused organisations, Simon’s board level advisory and interpersonal skills make a perfect match to clarify the Outt.com disruptive business model in a health & social care recruitment market valued at over £9bn last year.
 
Simon North, Finance Director, said:
I am very pleased and excited to be working with Outt at this early stage in their journey and am particularly looking forward to working with Steve and the whole team in making an impact in our marketplace.”
 
Steve O’Brien, Founder & CEO, said:
Having previously worked with Simon and seen the calibre of his inputs in a previous senior role, I am delighted that he has been appointed as Financial Director and advisor to the board at Outt. As we continue to expand and attract further interest and investment, his focused financial and advisory background and extensive industry experience makes him perfect for this critical role, at an important time for the organisation.

About Outt

Outt.com is a revolution in temporary social care recruitment. Offering a care jobs marketplace that connects health & social care organisations direct with care professionals for temporary shifts and permanent vacancies across the UK.