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 it is more important than ever to ensure that the business taper scale is obtained and so businesses should continue to consider whether it is prudent to hold large amounts of cash or investments within the company as opposed to extracting cash from the company in a tax efficient way, either in the form of dividends or via the salary and pension route.
As a result of last year's Budget■ With effect from 1 April 2000, there is to be a new 10% rate of corporation tax for profits up to £10,000. Marginal relief will apply to mean that an effective rate of 22.5% will be paid on profits between £10,000 and £50,000 at which point the 20% […]
Five hundred carpetbaggers expelled by the Portman Building Society may soon be able to appeal to the Building Society OmbudsmanThe aggrieved former members were expelled from the society in January after campaigning for the Portman to demutualise.The expelled members were offered just £50 compensation for their inconvenience. They have been going through Portman's internal complaints […]
The group relief rules for companies will be modernised to allow groups and consortia to be established through companies resident anywhere in the world. The changes are intended to respond to the increasing globalisation of business and will give multinational groups of companies greater flexibility in structuring their commercial activities in the UK. The changes […]
The announcement of a £17bn surplus in the Budget has raised fears of a further fall in the value of annuities, plunging more pensioners into a funding crisis over retirement income.Industry experts believe the surplus means that the Government will not need to make any further public borrowing, which will have a knock-on effect on […]
The fastest growers in the Artemis Global Select Fund this year were also the largest companies, Amazon and Nike. Simon is looking to buy more like them in 2016.
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Royal Bank of Scotland has joined rivals like HSBC in launching an automated investment advice service for more than five million customers. The bank claims to be the first bank in the UK to launch a “fully regulated” robo-advice service, which will be under its NatWest brand. The service, live from Monday, is targeted at […]
There is nearly £8.5bn in “drifted” legacy UK equity income funds that have underperformed against the sector over the past decade, research has found. As the fund management industry awaits Mifid II next year, Morningstar has analysed the competitive UK Equity Income sector on behalf of Money Marketing and found about 10 per cent of the sector’s […]
Old Mutual Global Investors has appointed Freddie Woolfe head of responsible investment and stewardship, reporting into chief executive Richard Buxton. Woolfe joins from Newton Investment Management, where he was a responsible investment analyst primarily covering the healthcare and technology, media and telecommunications sectors. Previously he held roles at Hermes Equity Ownership Services and HSBC. Woolfe will […]