On Your Bike!

The fundraising continues this weekend with two of our colleagues from the Glasgow office taking on Pedal for Scotland to raise funds for Mind in Bradford, as part of the TL Dallas fundraising initiative to celebrate the company’s centenary year.

Bernard Dunn and Conor Russell will be donning the lycra this Sunday (8th September) to cycle 45 miles in this iconic Classic Challenge from Glasgow to Edinburgh. An early start from Glasgow Green cycling a beautiful, closed road trail towards Edinburgh – with a guaranteed tailwind! 

We wish them the very best of luck and invite you to sponsor them if you can please. Details re sponsoring can be found here.


The Importance Of People And Culture In The Insurance Industry

The Yorkshire Post featured MD Polly Staveley in an interview highlighting the importance of people, culture and family values in the insurance industry and business in general.

Polly covered the nature of the insurance industry and how TL Dallas competes with larger, worldwide brokers by providing a service that delivers exceptional advice and service throughout.

Ours is very much a people business so you tend to pick up clients through people relationships

Other topics included the strong lineage of the company, brexit and how a broker such as TL Dallas is adapting for the future to cover changing risks presented by environmental changes and the digital age such as Cyber Insurance.

Read more

Reflecting On 20 Years Of Sponsorship At Bradford City AFC

As featured in the Telegraph & Argus, TL Dallas Group Director, Mike Martin reflects on the long-term sponsorship and the strong relationship with Bradford City AFC which will reach 20 years at the conclusion of the recently renewed agreement.

Headquartered in Bradford, the sponsorship of the football club is one of local pride and support for the Bantams family.

Mike commented: 

We’ve made a lot of good friends with the other sponsors and among the firms associated with the club. We’re a bit of a marker to show that it must be worth doing because we’ve been here for so long. If you do some business, that’s a bonus, but that’s not how you measure it. It’s about support.

Read full article

The Herald Family Business Breakfast is Back

TL Dallas is delighted to be sponsoring The Herald Scottish Family Business Breakfast again this year, alongside Business GatewayCampbell Dallas, Clydesdale BankStrathclyde Business School, Turcan Connell and Western Pension Solutions.

The breakfast event takes place on Tuesday, August 20 at WEST on the Green, Glasgow and will see lively discussion and debate on matters affecting family businesses in Scotland.

This breakfast is free to attend for anyone in Scotland who runs or is part of a family business. Please note, places are limited for this event, so secure your invitation now at https://lnkd.in/diarxfP.

Find out more here.

The true value of collectable watches

Collectable timepieces continue to be popular with investors looking for alternative assets with real growth. We look at how the values of items can change within such a profitable, yet volatile marketplace.

Time is money

As the old saying goes, time is money, and the increased popularity of including fine timepieces in your investment portfolio is a testament to this. Collectable watches take up little space and incur no Capital Gains Tax and promise strong appreciation, not just at the high end of the spectrum but also some of the most basic models too!

Is now the right time for an up to date valuation?

When considering this volatility in the market, it is essential to ensure you have sufficient policies in place to cover your timepiece should the unexpected occur. A recent valuations of a client’s Rolex collection from our partners, Doerr Valuations, demonstrated some items increasing by as much as 296% since 2000.

Gentleman’s steel Oyster perpetual bracelet watch, ref 116000

£1,970 in around 2000
£2,340 in around 2005
£3,600 in around 2015
£4,100 today – 108% increase


Gentleman’s steel Oyster perpetual Submariner bracelet watch, ref 14060
£1,450 in around 2000
£1,970 in around 2005
£4,500 in around 2015
£5, 750 today – 296% increase


Gentleman’s 18 carat yellow gold Oyster Cosmograph Daytona bracelet watch, ref 116528
£10,500 in around 2000
£13,370 in around 2005
£23,060 in around 2015
£27,650 today – 163% increase


Get in touch with your TL Dallas contact today to discuss a revaluation of your private collection.

Family Business Round-table Featuring TL Dallas MD, Polly Staveley

Thebusinessdesk.com invited Managing Director, Polly Staveley to represent the company at a Family Business Discussion round-table at KPMG’s Leeds offices.

Speaking amongst representatives from notable family businesses across the north of England, Polly commented on the Northern Powerhouse, building a strong culture within a company, and the benefits of the employee share scheme, allowing more people to feel they are part of our journey, and family, as well.

Family businesses encourage pride & longevity

During the discussion, Polly commented that her father used the expression “you have to have skin in the game”, adding “We are not just there for our pay check, it is about pride and longevity,” reinforcing TL Dallas’ core values.


Click here to read the full article.


TL Dallas Group Scores 20th Season as Bradford City Sponsor

TL Dallas Group has extended its stand sponsorship with Bradford City for a further three years.

The extension will see the Bradford-based business continue its sponsorship of the TL Dallas Stand until the end of the 2021/22 season. 

The agreement takes the firm’s sponsorship of ‘The Bradford End’ to 20 seasons and builds further upon its initial commitment to help the club after its relegation from the Premier League.

Mike Martin, Group Director at TL Dallas Group, said: 

This is another significant era in the club’s history, and we look forward to watching the team develop under manager Gary Bowyer and the club’s owner Stefan Rupp.

“Julian Rhodes stepping back into the day to day running of the club after last season’s challenges has also been a really positive development. We see the club as an important part of the local community and have been involved in working with the club since the early 1920’s. We had no hesitation in backing The Bantams for a further three years.”

Mike added: “The Group originally decided to take over sponsorship of the stand for the 2003/04 season. We consequently carried out a major refurbishment to it in 2018 and added our special centenary logo this year when we also sponsored the New Year’s Day match.

“Over the years we have really enjoyed being sponsors; our clients have enjoyed coming to see games and we have been part of some very special matches in the club’s history. We would encourage any local business to become involved. Your support will be valued by the club and there are fantastic opportunities to network and also to entertain customers and suppliers.”


TL Dallas Charity Skydive 2019

This Friday – 12th July – a group of brave, or some might say completely crazy, TL Dallas employees are jumping out of a plane from 14,000 ft. Risking life and limb – all in the name of charity!

Read their story here and if you can, please sponsor this mad bunch and help them reach their target.

As part of the TL Dallas Charitable Trust the company will match all monies raised by the team.

Wishing them all the very best of luck and a safe landing!


For more details about our fundraising and to see the charities we are supporting visit our Centenary page.



TL Dallas Shetland raises £7,260 for charity

TL Dallas Shetland has raised £7,260 for charitable causes as part of the company’s initiative to mark 100 years of the company. 

Funds raised will be split between Alzheimer Scotland, the Shetland MRI Scanner Appeal and Mind Your Head, each receiving donations of £2,420. 

The TLD Charitable Trust was set up with the aim of raising £100,000 by the end of the centenary year. 

TL Dallas employees throughout the UK have been involved in fundraising with a number of local and national charities chosen each year to benefit – charities close to the hearts of staff. 

Ruth Newbold and her team in the Lerwick office have been at the forefront of coming up with different ideas and most recently organised a gospel concert with great success. 

The concert featured artistes including Sheila Hend- erson and Freda Leask; Jim Budge and Friends; David, Jamie, Janis and Jenna; the North Ness Boys; and Senior Young Musician of the Year Elizabeth Halcrow. There was also a raffle and the event raised £2,213. 

Ruth Newbold also brought together an attractive Shetland nature and landscape calendar for 2019 with the help of local photographers Angela and John Lowrie Irvine. 

The sale of the calendars brought the total raised to £3,630 and when matched by TL Dallas through the charitable trust initiative it gave a grand total of £7.260 to be split between the three chosen charities. 

If you would like to find out more about the charitable trust and make a donation please click here.


Daredevil MD to abseil Ripon Cathedral

As our bid to raise over £100,000 for charity in our centenary year continues, Polly Staveley, Managing Director, has committed to abseiling down from 115 feet on the South West Tower of Ripon Cathedral.

One way to experience rarely seen views over the city of Ripon and of course all in aid of the TL Dallas Charitable Trust.

Our Charitable Trust supports a number of deserved causes, both local and national, which are close to the hearts of all staff at TL Dallas. Our nominated charities for this year are:

  • British heart Foundation
  • Candlelighters
  • Mind
  • Alzheimer Scotland


To find out more and to show your support by making a donation please visit the Polly’s Just Giving page at https://www.justgiving.com/fundraising/polly-staveley3

You can find out more about the TL Dallas Charitable Trust here.

Thank you for your support.

Taking a Leap of Faith from 14,000ft for Charity

As 2019 marks our centenary year, you may be aware of the charitable initiative we launched a few years ago involving all our employees throughout the UK to raise funds for charities close to our hearts. The aim is to raise a total of over £100,000 by the end of 2019.

There have been many initiatives to support this across the Group including, Dress Down Days, Great TL Dallas Bake Off, a Gospel Concert fundraiser, Charity Calendars to name but a few. And now, without doubt, the bravest fundraising plan will see six TL Dallas employees jumping out of a plane from 14,000 feet on 12th July with the hope of raising £5,000 towards the target!

TL Dallas have kindly covered the cost of the skydive so every penny donated will go to our chosen charities.

To find out more and to show your support by making a donation please visit the team’s Just Giving page at  https://www.justgiving.com/TLDSkydive

You can find out more about the TL Dallas Charitable Trust here.

Thank you in advance for your support.

Charity Gospel Concert Raises Over £4,426

Last Friday’s Charity Gospel Concert raised a fantastic £2,213.42! This fund will be matched by TL Dallas meaning the charities – Alzheimer ScotlandShetland MRI Scanner AppealMind Your Head– will receive donations of around £1,475 each.

Thank you to all involved for your wonderful generosity and of course the performers – North Ness Boys, Sheila Henderson, Freda Leask, Jim Budge & Friends, David, Jamie, Janis & Jenna and not forgetting Senior Young Musician of the Year, Elizabeth Halcrow – for giving up their Friday evening and putting on an amazing show.


Well done to our Shetland team for organising such a successful fundraising event.


TL Dallas Group sponsors Bradford City Football Club New Year’s Day fixture

TL Dallas Group has a long standing partnership with Bradford City Football Club so it was fantastic to kick off our centenary year celebrations by sponsoring the New Year’s Day fixture against Accrington Stanley.

TL Dallas staff and families, along with some clients, enjoyed a great day out in the TL Dallas Stand with a 3 – 0 win against Accrington Stanley.  They also met man of the match, Jack Payne.


TL Dallas Director, Mike Martin with Man of the Match, Jack Payne


The Bantams kindly shared our centenary news and a little bit of TL Dallas history in their Club News. Read all about it here.



Travel tips

If you’re escaping for some Winter sun or planning a trip next year, here are five useful things to remember …


1. Always buy the right cover for you

Don’t just look at the price of travel insurance. Make sure you buy cover that has all the protection you’ll need – such as covering any activities you might be doing, or any medical conditions you have. If you don’t, and something goes wrong, you might end up having to shoulder the cost. The Foreign & Commonwealth Office has some helpful advice about choosing the right cover here.


2. Don’t leave it too late

It is best to book your travel insurance policy at the same time as you book your holiday – so you’ve got a policy in place in case your circumstances change and you need to cancel your trip.


3. Don’t pay the price for drinking too much

Alcohol exclusions are a common feature of travel insurance. While you’re not expected to avoid alcohol completely, it is worth bearing in mind your claim may be turned down if it’s linked to excessive drinking. There are an increasing number of reports on this in the media and you can read more in the Financial Ombudsman Service newsletter.


4. Check it’s safe to travel

The Foreign & Commonwealth Office gives official advice about whether it’s safe to travel in different countries and regions. Also check what your travel insurance says about things like natural disasters and political unrest.


5. Keep your insurer in the loop

Make sure you always carry your insurer’s contact details with you. If something goes wrong, contact your insurer as soon as possible – they should be able to tell you what’s covered and advise you what to do next. If you go ahead without checking first, you might end up having to pay out yourself.


At TL Dallas many of the Household and Business policies we arrange include good quality Travel Insurance, or we can arrange stand alone cover. Please contact your local office for more information.


Source: Financial Ombudsman newsletter, 2018


No place like home – keeping art properly protected on the move

When a piece of art is static and in its regular ‘home’ – whether that’s a painting on a wall or sculpture on a plinth, it is usually well protected and unlikely to get damaged. It’s when clients need to move their art – either to a different home, overseas or to an exhibition or museum – we see increased risk to these valuable pieces.

When people think about threats to artwork, front of mind is usually theft and fire, but it’s more mundane risks like moving art when we see the most damage, and these claims are often the most challenging.

High profile examples of damage to masterpieces and ancient works of art in transit shows how real this threat is. In 2001 Rembrandt’s ‘Portrait of an Elderly Woman’ arrived in Moscow from Houston with a large gash in the canvas. In 2000, the 9th Century Book of Kells was reportedly affected by vibration after a flight from Ireland to Australia. If damage can occur to such pieces, it drives home the need for every owner of art to ensure they are doing everything to mitigate risk when their pieces are on the move.


Leave it to the specialists

Clients should be just as discerning about their transit company or shipper as they are about their art collection. The art market is, after all, completely unregulated. There’s no code of conduct, so you rely on the specialist knowledge and experience of shippers and packers. Fine art shippers can work with auction houses, curators and collectors on a loss prevention analysis to assess the best way to move the item and to arrange for adequate handling and storage throughout the journey. However, there will always be times of increased risk, particularly with international transit. Curators and owners often choose to travel with artworks but even they can’t go in the hold! A condition report can be carried out on both sides, before the piece travels and when it arrives, much like when you hire a car on holiday, which gives both the owner and insurer peace of mind.

“We always advise our clients – commercial and private – to use a professional shipping company who specialise in transporting different types of collections. Nevertheless accidents can still happen. Many of the losses you see in transit are down to human error such as a third party putting a forklift through a crate or dropping an artefact while being carried.”


Preparing to manage moving art

We appreciate our clients may often have more than one property and will want to move their art or antiques between homes, sometimes overseas. There can also be frequent movement between galleries and museums.

There are three key areas to think about:

• Collectors often don’t think about insurance from the moment of purchase. Once bought, at the auction house or a private sale, it is the collector’s asset and needs to have cover in place, especially when it is being transported. You should be aware of insurance policy conditions following new purchases. Some policies provide automatic cover for newly acquired art and antiques up to 30% of the total sum insured under this section provided your insurer is advised within 60 days of the purchase.

• Artwork is at its most vulnerable when it is being moved, so it is vital to use a professional and specialist transit company who will treat the item like it is their own. Auction houses and dealers will be able to make these recommendations, as will your insurance broker who will have personal knowledge of the leading international fine art shippers and packers.

• Collectors are increasingly buying art as an investment. Whatever their motives for collecting it is important they maintain up to date valuations for their collection.


For further information contact Michael Gregson, TL Dallas Private Clients on 0131 322 2634 or email michael.gregson@tldallas.com.


Source: Dr James Lindow, Underwriting Director, Ecclesiastical’s Art and Private Client Team


Avoiding Trade Credit Fraud

It can be difficult to identify a potential fraud but there are some warning signs to look out for that can assist in avoiding and certainly reducing the negative impact this can have on a business.

Losses due to fraud are not generally covered by Credit Insurance policies meaning your Insurer is not liable for this loss. However, there are some exceptional cases where we know underwriters have accepted liability, so having a policy may have added benefits!

The TL Dallas Group of companies and the insurers we place cover with are seeing significant increases in the number of fraud overdues or claims being reported by clients. In particular, ‘assumed identity’ fraud cases – this is when a third party assumes the identity of well established creditworthy businesses.

CEO fraud is the impersonation of a company’s CEO or high-ranking officer to try and trick an employee into transferring money. Unfortunately, as it is subsequently discovered, these payments have gone to the fraudsters account.

Currently, the main sectors affected are Food & Drink, IT and Construction. However, all sectors are being targeted.

Some points to be wary of include:


  • Confirm the issued share capital stated in the Company’s accounts are consistent with the annual returns
  • Be wary of a Company that submits accounts shortly after its financial year end or a dormant company suddenly becoming active
  • Be wary of Companies filing above and beyond its filing requirements. Remember a ‘small company’ is required to submit abbreviated accounts to Companies House and ‘micro-entities’ are required to submit simpler accounts that meet minimum statutory requirements
  • Compare accounts to other Companies within the same industry and be wary of Companies that have filed accounts which appear ‘too good to be true’. lf the accounts are audited, check if they’re registered using http://auditregister.org.uk/Forms/Default.aspx
  • Conflicting trade sectors – eg. Companies House states ‘wholesale of food + beverages’, but their website/status report states manufacture of metal
  • Check the Directors do not have any association to failed companies or high volume of newly incorporated companies as this can be a warning sign
  • Frequent or sudden change/s in shareholders/directors or registered office can also be a warning sign


  • An unsolicited enquiry with a short/urgent delivery deadline – the potential new customer will be persistent and put you under pressure to open an account. There will be an unusually short period between first contact, order and delivery date.
  • No landline telephone number provided – only a mobile number. Calls are usually not answered but go to voicemail and then your call is returned. If a landline is provided, when you call it’s been disconnected or just rings out.
  • Mirror imaging of existing genuine email and website addresses. They are usually very similar to the company they are impersonating, however there will be subtle differences, i.e.:
    • Genuine company website address –www.tldallas.com
    • Fraudulent company – www.t-l-dallas.com
  • Professional looking website but with little functionality. The website will look OK, but basic and light on any details, landline telephone number etc.
  • Verify the website using Whois-Search – http://www.whois-search.com/
  • Be cautious with trade references and check them thoroughly – some recent cases we have seen have highlighted the trade references given were fraudulent and that associates, were also involved in the fraud.
  • The buyer is generally not interested in price with little or no negotiation – why would they be if they are not going to pay you!
  • Buyer requests to collect goods themselves from your premises/warehouse, often in a private car or unmarked vehicle
  • Being asked to deliver goods to a different company or an unknown third party
  • Buyer changing delivery address at short notice – use Google Maps or Royal Mail postcode and address finder to verify addresses
  • Potential customer is overly ready to supply information – trade references and accounts/managements accounts are available without being asked
  • Confirm that the supplied VAT and bank details are genuine


Be wary of last minute requests, from your existing customers, if they do not follow their usual established trading pattern – check the details out further and call your usual contact and confirm changes in writing.

Further useful information can be found here.


If you would like to discuss Credit Insurance, please call 01274 465 522 or 01324 717 466. Alternatively, email your details to credit@tldallas.com and a member of the team will be in touch.


Pensions – Get the date right and stay on target

Most over-45s are not making plans to match their hopes for the future, according to recent research *.

The vast majority (86%) of those aged 45 or over are already dreaming about escaping their working life for retirement, but only 8% of the same age group have recently checked the retirement date on their pension plans to make sure they are still in line with their plans.

Over half surveyed (56%) do not have a clear idea of when they want to retire and only 10% have worked out how much income they will need when they decide to stop working. The study reveals it doesn’t get much clearer as you go up the generations, less than a fifth (17%) of those aged between 55-64 have recently checked to see if the retirement date on their pension policy is still fitting with their plans.



If the date you plan to retire changes, or you simply want to take some of your pension without stopping work, it is important to tell your pension company. Otherwise you many not receive information and support about your pending retirement at the most helpful times, as they will be basing this on outof-date plans.


Some investment options will start to move your pension savings into lower risk investments as you get closer to retirement. If you don’t have the right retirement date on your plan, you could be moving into these investments at the wrong time. ie. move too early and you could potentially miss out on investment returns, but move too late and you could be exposing your life savings to unnecessary risk.


The size of pension pot you need to build up to maintain your lifestyle when you retire will depend on when you plan to do so.


If you’re planning to buy an annuity at retirement to guarantee an income for the rest of your life, the amount of income you get will depend on the size of your pot and annuity rates at that time. If you prefer to use your pension saving more flexibly, you can keep your money invested and take it as and when you need to. You’re then responsible for making sure your life savings last as long as you need them to.


Reviewing your retirement date regularly, particularly as you get older and closer to retiring, is to be recommended and most pension plans these days enable you to revise your retirement date whenever you choose.

For some these decisions can seem daunting. At TL Dallas we are committed to helping our clients make the most of their money. Whatever your financial needs and objectives, we can help you achieve your goals, while ensuring that you are comfortable with the risks involved.

If you would like to discuss your pension, or any other financial situation, please get in touch on 01274 465557 or email gary@tldallasifs.co.uk.

It will only take a few minutes, with no obligation on your part, but it could end up giving you real security and peace of mind.

*research carried out online for Standard Life by Opinium (November 2017)


The importance of due diligence

Due diligence is a term given to the process of assessing a company before you invest in it. Unless you count “spray and pray” as an investment strategy, due diligence is of critical importance to investors in driving portfolio returns. The difficult question is, how to conduct due diligence properly but at reasonable cost?

The Par Equity Model

Par Equity is a venture capital firm founded by people with a range of business backgrounds. Early on, we decided that involving business angels in our investment model would be a good thing. In our experience, business angels bring many desirable qualities – understanding of businesses, sector experience, contacts, willingness to become involved operationally and, of course, investment appetite. In short, it’s a force multiplier for the core investment team and it really helps with technical and commercial due diligence.

These experienced business people come into their own during the origination and evaluation stages of investment. Par Equity benefits from the breadth of experience and insights they offer – as do investors in our EIS fund. Of course, most venture capital firms have access to specialist expertise. The crucial difference is that our investor network puts its money where its mouth is.

The Nature of Diligence

We divide due diligence, into financial, legal, technical and commercial. On the plus side, early-stage companies tend to be uncomplicated from a financial perspective. Legal diligence, although usually fairly straightforward, is important. We generally do that towards the end of the investment process. Technical and commercial due diligence present greater challenges, because this is where specialist knowledge really counts.

The nature of technical due diligence varies from company to company, but typically involves understanding what the technology does, how developed it is, what technical challenges remain in bringing it to market or refining it for broader distribution, how robust it is and, perhaps most importantly, how protectable it is. The strategy around protecting intellectual property is a critical factor.

Commercial diligence involves understanding a company’s business model and value proposition, its target markets, how the management team are going to access those target markets, and the competitive landscape they will face in doing so. It’s also relevant to informing a view on where the most likely routes to exit lie. An exit, where investors sell their shares, is after all the ultimate objective.

The Costs of Diligence

Assuming that robust assessment of a potential investment is not optional, the problem is that due diligence tends to be a costly process.

Internalising the skills and experience by hiring the necessary talent into the investment team builds costs that must be recovered through investment management fees and can result in a narrow investment focus. Renting the necessary skills and experience from consultants when you need it reduces the investment manager’s overheads, but there are still fees that need to be paid by someone – generally the investee company. This is cash that would otherwise be used to build that company’s business.

Par Equity’s approach of using angel investors as part of its investment model is a creative solution to these problems and, because the angels are investing their own money, their interests are aligned with those of investors in Par Equity’s EIS fund.

Article supplied by Par Equity

For more information on Par Equity please contact pauline.cassie@parequity.com


TL Dallas offer due diligence services – providing insurance and risk due diligence services for investors, banks, lead advisors, NXDs and corporate clients relating to mergers, acquisitions, disposals and re-financing transactions.

For further information in this area please contact Bernard Dunn on 0141 204 0300 or email bernard.dunn@tldallas.com


What Keeps Directors Awake at Night?

Earlier this year, we partnered with Brodies LLP to discuss ‘What Keeps Directors Awake at Night?’ examining the roles, responsibilities and potential liabilities which face directors and senior staff in today’s ever-changing business environment.

Topics covered included:

  • Directors & Officers – responsibilities and liabilities
  • The Companies Act
  • Corporate Homicide & Manslaughter
  • Health & Safety prosecutions
  • Cyber threats


You can listen to the webinar here and for further details please contact:

Tim Mackenzie, TL Dallas on 0131 322 2632 or email tim.mackenzie@tldallas.com.

Laura McMillan, Brodies LLP on 0141 245 6748 or email laura.mcmillan@brodies.com