For small and medium sized companies first year capital allowances on the purchase of plant and machinery at the rate of 40% are now permanently available. Small companies will also benefit from 100% first year allowances for investment in Information and Computer Technology equipment (computers, software and internet-friendly mobile phones) are available. Companies with SSASs will have an opportunity to take a loanback from the SSAS and use the proceeds on qualifying expenditure - effectively getting double relief, once on the pension contribution and once on the purchases of the capital asset. Alternatively, for companies without a SSAS, directors could draw dividends from the company and leave the funds in the company in the form of director's loans which could then be used to buy the assets.
FSA chairman Howard Davies says Europe should be aware of “hasty and bungled” reform of financial regulation.Speaking in Brussells he said Europe's top priority should be overhauling the legislative framework for the financial services industry.He said that until there is a common European legal system implementation and enforcement should take place at member state level.Davies […]
The change to business taper relief whereby business assets will attract 75% relief once they have been held for four years compared to the mere 40% relief available after ten years of ownership for non-business assets is a boost for business owners who are contemplating the sale of their businesses. However, the change means that […]
There is, as yet, no Mrs Brown to pose with the bachelor Chancellor on the steps of No 11 for the pre-Budget photocall - but prudence was much in evidence. Dealt one of the best economic hands of any Chancellor in living memory, Mr Brown was determined not to give the slightest hint of enjoying […]
Amendments have been made to the Working Families` Tax Credit (WFTC) to enhance the benefits available to lower income families. To recap, WFTC■ replaces Family Credit. ■ it guarantees working families a minimum income above and beyond the minimum wage. The Chancellor has now announced the following measures in his Budget– the credit for children […]
The introduction of ground-breaking pension freedoms in April 2015 has created some uncertainty for employees and employers alike, and they are looking for help. With further changed announced in the summer Budget, employees really need help to understand how the changes affect them.
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Lawyers who represent investors against Berkeley Burke over allegations of mis-sold Sipps estimate more than 1,000 claims could be in the pipeline. The High Court has approved a group litigation order relating to claims against Berkeley Burke Sipp Administration, and those affected have until 23 July 2018 to register to join the group action. It […]
Do not be spooked by recent falls. The bull market has further to run. Stockmarkets have been thriving in the not-too-hot, not-too-cold “Goldilocks” backdrop of the last few years. Growth has been strong enough to boost profits, and inflation low enough to keep central bank policy loose. Recent stockmarket weakness is centred on signs that […]
The FCA continues to engage with the asset management industry on new European regulations as questions remain over how firms should report costs and charges. After over a month since Mifid II and Priips came into force, concerns have been raised on how fund fees, in particular transaction costs, should be calculated under the two […]