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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The workplace presents a significant opportunity for advisers, yet many are still shunning this sizable market, experts argue. The pension freedoms and auto-enrolment have increased the unmet need for advice in the workplace. Some larger employers and pension trustees are no longer content to leave employees to fend for themselves among scammers and fraudsters and […]
Neil Woodford has rejected gloomy UK growth forecasts from the Office for Budget Responsibility revealed in yesterday’s budget, arguing the country is on track to achieve annual growth around 2 per cent. According to the OBR, growth this year will be 1.5 per cent, and fall to 1.4 per cent in 2018. Through 2019 and […]
Trade bodies tend to live in a cloistered environment while advisers keep the industry on its toes