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Leading economic expert tells the South’s businesses what Brexit could mean for them

Leading economic expert tells the South’s businesses what Brexit could mean for them

Ahead of the Bank of England’s monetary policy report, more than 200 businesses in the South packed out Southampton’s Chilworth Manor last week to find out from one of the UK’s leading economists what Brexit could mean for them. Mark Berrisford-Smith, Head of Economics at HSBC, gave his presentation at a special seminar organised by the bank and Rothmans. The audience heard that discussions on exit options will dominate the government’s agenda for the next two years. Options include a ‘soft exit’, as in...

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Samantha Kingston wins the national New Business Venus Award

National ‘Working women’s Oscar’ awarded to Southampton virtual reality entrepreneur

A Southampton-based businesswoman carving out success in the growing virtual reality industry has won the Rothmans-sponsored national award for New Business of the Year in the Venus Awards, known as the ‘working women’s Oscars’. Samantha Kingston set up her specialist marketing company, Virtual Umbrella, a year ago, scooping the Venus regional award before going on to win the national title. Seventy regional winners competed in a range of categories, with national winners chosen from nearly 5,000 nominations and nearly 6...

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Businesses get the experts’ view on preparing for the biggest sale of their lives

Businesses get the experts’ view on preparing for the biggest sale of their lives

Many of the South’s business owners learned from the experts how to make the most from selling their business at a seminar last week hosted by Rothmans Corporate Finance (RCF) Ltd, at the Ageas Bowl in Southampton. RCF is a new joint venture between Rothmans Accountants, which has 11 regional offices and is one of the South’s largest and longest-established independent accountancy firms, and Odyssey Corporate Finance, a specialist corporate advisory firm. During the seminar, RCF Directors, Tom McCarthy and Julian Sims, advised...

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Benefit and Expenses – Bespoke Scale Rates

Benefit and Expenses – Bespoke Scale Rates

From 6 April 2016 there are a number of changes to the way in which benefits and expenses are reported to HMRC. HMRC have set out the maximum tax and NICs free allowances that can be paid by employers to employees for subsistence. Subject to qualifying conditions, the amounts are set out below: Minimum journey time Maximum amount of meal allowance 5 hours £5 10 hours £10 15 hours £25...

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Capital Gains Tax Rates

The government has reduced the higher rate of CGT from 28% to 20% and the basic rate from 18% to 10%. The trust CGT rate has also reduced from 28% to 20%. The 28% and 18% rates will continue to apply for carried interest and for chargeable gains on residential property that do not qualify for private residence relief. In addition, the 28% rate still applies for ATED related chargeable gains accruing to any person (principally companies). These changes have taken effect for disposals made on or after 6 April 2016. The rate for disposals qu...

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Changes to the Taxation of Saving Income

There are significant changes to the income tax rules from 6 April 2016 which affect the taxation of savings income. From 6 April 2016, if you are a basic taxpayer you may be able to receive up to £1,000 in savings income tax free. Higher rate taxpayers will be able to receive up to £500. Savings income includes the following: • interest from bank and building societies accounts • interest from credit union or National Savings and Investment accounts • income from government or company bonds • i...

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