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Issues arising from the budget statement 3rd of April 2014

15-04-2014

2014-04-15

In collaboration with London based accountant firm Blick Rothenberg, the NBCC hosted a network event around the Budget meeting at the office of Blick Rothenberg. The implications for companies and individuals of the changes made in the UK tax regulations were explained by three different tax advisors of Blick Rothenberg. One of the most important implications was the main corporation tax rate reduced from 23% to 21% from 1st of April 2014 and down to 20% from 1st of April 2015. Besides the research and development tax credit for loss-making SME’s increased from 11% to 14,5% in the new tax year. For small companies the Seed Enterprise Investments Scheme (SEIS), which was introduced in 2012, will be made permanent. Those companies will get a 50% income tax relief and 50% Capital Gains Tax reinvestment relief with a maximum of £100.000 on investments. Last but not least the changes in the pension schemes were explained with a focus of the changes in annuities.

NBCC board member Alexandra Kamerling thanked the speakers for their time and thorough explanation. After the presentation informal networking drinks took place at the office of Blick Rothenberg. The NBCC members and non-members had the opportunity to mingle with the different seize and type of businesses present.

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