|clarity EIS Alert August 2016||
The EIS is a similar type of scheme to a VCT, aimed at encouraging investment in smaller companies. Companies must fulfil certain criteria to be eligible for EIS investment but the promoter or fund manager will normally confirm eligibility at the time of the fundraising. The qualifying company must have gross assets of no more than £15m (with a cap of £16m post investment) prior to the fundraising.
|Property Fund Suspensions - Update||
Further to our recent email alert Aberdeen Property Trust has announced that the fund will be suspended until noon on Monday 11th July. From this point it is intended that redemptions will be permitted, but with a dilution discount of 17%. This is of course in addition to the ‘fair value adjustment’ of around 5% which independent valuers have recommended. The intention behind this discount is to treat fairly both continuing investors and those who wish to disinvest.
|Property fund suspensions||
Clients may have noticed that a number of funds invested in ‘bricks-and-mortar’ assets have announced they are suspending withdrawals and new investments on a temporary basis, which will be reviewed every 28 days. This stems from a considerable amount of nervousness in the market surrounding valuation of commercial property following the Brexit vote, resulting in investors pulling cash out of the funds.
|Brexit Referendum – Result||
Needless to say, investors will now be considering the effect that the recent Brexit vote will have on their portfolios.
|Budget 16 March 2016 – Potential Pension Changes||
The chancellor is set to announce the outcome of a review into the existing pension tax relief regime in the Budget on 16 March 2016.
There has been a great deal of speculation regarding changes that may be made to the existing pension framework as a result of this review. We have considered a number of potential outcomes below and outlined how these may affect your pension planning. It is important to note that any potential changes outlined below are based on speculation and may not come to pass.
|2015/16 Tax Year End Planning||
The purpose of this note is to outline some of the tax planning opportunities you may wish to consider utilising before the end of the current tax year.
|Update – Protection from the Lifetime Allowance Reduction from April 2016||
Lifetime Allowance - what’s changing?
The Lifetime Allowance (LTA) represents the maximum total pension benefit that an individual can accumulate in registered pensions during their lifetime, without further tax charges applying.
The standard LTA for 2015/16 is £1.25 million. From April 2016 this will reduce to £1 million, and it is proposed that the standard LTA will then be indexed to CPI from April 2018.
|EIS Subscriptions and Self-Assessment Payments on Account||
If you recently have subscribed to an Enterprise Investment Scheme (EIS) and have to make a self-assessment payment on account by the end of January 2016, please note that it is not necessary to wait for the EIS3 form before applying to reduce the payment on account.
|Better job protection needed for working mums, say MPs||"Urgent action" is needed to give new and expectant mothers more protection at work after a "shocking" increase in discrimination, MPs say.||31/08/2016 03:58:52|
|UK house price growth sees slight pick-up, Nationwide says||August saw a "slight pick-up" in house price growth says Nationwide, but the outlook is still "clouded".||31/08/2016 07:18:35|
|Irish cabinet to consider appealing Apple tax ruling||Cabinet is to discuss the European Commission ruling that Ireland granted €13bn of undue tax benefits to technology giant Apple.||31/08/2016 07:23:55|
|UK consumer confidence 'improves in August'||Confidence among UK consumers saw an uptick in August after a low-point in July, but still remains below pre-referendum levels, a survey suggests.||31/08/2016 06:41:36|
|Smart energy revolution 'could help to avoid UK blackouts'||A "smart energy" revolution could help ensure that the UK does not suffer blackouts, according to National Grid's new UK chief.||30/08/2016 23:00:18|
|Google to expand ride-sharing service in San Francisco||Google plans to expand a ride-sharing service in San Francisco, setting up a potential showdown with market leaders Uber and Lyft.||31/08/2016 01:54:43|
|TTIP in further doubt as Hollande questions timing||The TTIP trade deal is dealt another blow as French President Francois Hollande casts doubt on when an agreement will be reached.||30/08/2016 15:45:45|
|South Korean shipping giant Hanjin to enter receivership||South Korea's biggest shipping group Hanjin is set to enter receivership after its creditors refused to provide further funding to the indebted firm.||31/08/2016 06:20:55|