Bottomline
Summer 2012
It's 1:27pm on Sunday 20th May, 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: “Granny tax” will hit low income pensioners
Phasing out increased age-related personal allowances will be detrimental to lower-income taxpayers over 65. The Budget will see allowances removed for new pensioners from April 2013, and replaced with a single personal allowance (£9,205) for all. Allowances for those already of pension age are to be frozen. Currently higher personal allowances are available for people [...]
Posted by
Rachel Marsdin
in
Moore and Smalley comment, Tax, The Budget
On March 22 2012
Budget analysis: Personal allowance
“The increase in Personal Allowance by £1,100 to £9,205 is of course welcomed and will reduce the tax burden for many in region.” says tax partner Tony Medcalf. “However, it is disappointing that the Chancellor has not taken the opportunity to remove the anomaly of the reduction of the personal allowance for taxpayers with income [...]
Posted by
Tony Medcalf
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
Budget analysis: Growth reforms could go further
“We welcome the steps to improve the Enterprise Management Incentive scheme (EMI), as part of the Government’s reforms for growth” comments Rachel Marsdin, tax partner at Moore and Smalley. “The initiative encourages SMEs in the North West to recruit and retain talent, providing additional support enabling start-ups to access the scheme. This move will work [...]
Posted by
Rachel Marsdin
in
Moore and Smalley comment, The Budget
On March 22 2012
Compulsory submission of VAT returns online
From 1 April 2012, all remaining VAT-registered businesses – those registered for VAT before 1 April 2010 with a VAT-exclusive turnover of less than £100,000 – will also have to submit VAT returns online and pay any VAT due electronically. Most of our clients have actually been quite positive about filing returns online as they [...]
Posted by
Colin Johnson
in
Advice for Businesses, Tax
On March 22 2012
Budget 2012: Give healthcare businesses incentives to invest
Debbie Wood, partner and head of healthcare services at Moore and Smalley, gives her thoughts on how the Chancellor can use the Budget to encourage healthcare firms to invest. If the Chancellor is going to help the healthcare sector then some of the current disincentives to investment have to be removed. The 50p top rate [...]
Posted by
Debbie Wood
in
Advice for Healthcare businesses, The Budget
On March 20 2012
Budget 2012: 50p tax rate cut, will they or won’t they?
Tony Medcalf, tax partner at Moore and Smalley, outlines his expectations for the Budget. Once again, there’s been plenty of speculation in the run up to this Budget about the 50p tax rate, with many continuing to lament it for being ineffective as a revenue generator. However, with the current state of the economy, Government [...]
Posted by
Tony Medcalf
in
The Budget
On March 19 2012
