Bottomline
Summer 2012
It's 1:02pm on Sunday 20th May, 2012
Tax-efficient investments
Some investments have income tax and capital gains tax (CGT) advantages. Individual savings accounts (ISAs) You can invest up to £5,340 in a cash ISA and up to £10,680 in a stocks & shares ISA in 2011/12. The total investment is limited to £10,680 so if you invest, say, £2,000 in a cash ISA, you [...]
Posted by
David Bennett
in
Advice for Individuals, Tax, Wealth management
On March 27 2012
lncome tax saving for couples
You might be able to save tax by switching income from one spouse or partner to the other. From the start of the next tax year, you should aim to use up both individuals’ personal allowances (£7,475 in 2011/12 and £8,105 in 2012/13) and minimise any higher and additional rate tax. Income over £150,000 is [...]
Posted by
David Bennett
in
Advice for Businesses, Tax
On March 26 2012
Budget analysis: Creation of UK tech hub welcomed
Moves announced in the Budget to create a world-leading technology hub in the UK have been welcomed. Alongside a commitment to creating ten new super-connected cities through ultrafast broadband delivery by 2015, an additional £50million was also announced to fund a second wave of ten smaller superconnected cities. This will be supported by corporation tax [...]
Posted by
David Bennett
in
Moore and Smalley comment, The Budget
On March 22 2012
Budget analysis: Employers to review company car policies
Employers are urged to assess their company car strategy following the Budget announcement. “From April 2013, the capital allowance relief on cars will be adjusted,” comments Moore and Smalley tax partner David Bennett. “This means that cars with a CO2 emission above 130 grams (currently 160grams) will get a 15% restriction which is likely to [...]
Posted by
David Bennett
in
Advice for Businesses, Moore and Smalley comment, The Budget
On March 22 2012
Using the family firm to reduce university costs
Sending your child to university will become even more expensive from September 2012 when most universities’ tuition fees will rise to £9,000 annually. While tuition fee loans are generally available, there is a shortfall for maintenance costs. Grants are not available for households with income exceeding £42,600 and loans for living costs range from between [...]
Posted by
David Bennett
in
Advice for Businesses, Advice for Family businesses, Tax
On February 21 2012
Autumn statement reaction: Confirmation of enterprise zones is welcome news
Good news for Lancashire in the chancellor’s autumn statement is the confirmation of an enterprise zone for Lancashire. Although not mentioned by name in the autumn statement, these are expected to be both the Warton and Samlesbury sites. The zones will give tax breaks through capital expenditure and other incentives to encourage businesses to locate in [...]
Posted by
David Bennett
in
Moore and Smalley comment
On November 29 2011
Tax investigations: what to do and what not to do
With a tax gap estimated at £40bn, HM Revenue and Customs (HMRC) is taking a tough, new approach to reducing the shortfall – and all businesses are potentially under threat of investigation. It is difficult to overstate the disruptive impact investigations can have, not only on commercial operations, but also in some cases on the [...]
Posted by
David Bennett
in
Advice for Businesses, Tax
On October 7 2011
Locking key staff into your business with share options
Share options are a popular, tax efficient way of incentivising key employees. They are particularly relevant to companies looking to grow their value with a view to an exit in the short to medium term, writes David Bennett, tax partner. A share option is simply a right to acquire a set number of shares at [...]
Posted by
David Bennett
in
Advice for Businesses, HR, Tax
On May 17 2011
