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Loanback opportunity from capital allowances

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 &#45 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&#39s loans which could then be used to buy the assets.


Davies slow cure for reform “bungles”

FSA chairman Howard Davies says Europe should be aware of “hasty and bungled” reform of financial regulation.Speaking in Brussells he said Europe&#39s 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 […]

Taper relief should prompt business asset review

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 […]

Drawing a careful economic picture

There is, as yet, no Mrs Brown to pose with the bachelor Chancellor on the steps of No 11 for the pre-Budget photocall &#45 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 […]

Family Tax

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 […]


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