Blick Rothenberg in the Press
The Financial Times (26/06/2010)
Missing words with deeper meaning
Blick Rothenberg identifies the forgotten minority of business 'angel' investors that will miss out on the new higher level of tax relief for entrepreneurs.
The Daily Telegraph (26/06/2010)
700,000 more to pay 40pc tax
Many owners of second homes and buy-to-let landlords who pay basic rate income tax will be caught by the higher rate of 28pc CGT. Frank Nash highlights that treasury documents make it clear that an individual's gains will be added to their income when assessing whether they remain basic rate taxpayers for the purposes of the new higher rate of CGT.
The Daily Telegraph (23/06/2010)
Hundreds of thousands of people are in for income tax and CGT shocks
Frank Nash points out that the Treasury makes it clear that an individual's gains will be added to their income when assessing whether they are basic rate taxpayers for the purposes of CGT. Anyone with income and gains above £43,875 will be liable to pay 28% rather than 18% on CGT.
The Guardian (23/06/2010)
Osborne's 'rebalancing' of the economy risks sacrificing another generation
The reduction in capital allowances announced in the emergency Budget will hit manufacturing businesses, which are often capital intensive. Blick Rothenberg highlights that this could curb business growth in the very regions the Government is purporting to help.
The Daily Telegraph (23/06/2010)
Darling's attack on the holiday home is scrapped
'There were real fears of a holiday property sell-off' comments Frank Nash, ' people who are actively letting their properties are running a business and so it is only right that the Chancellor has scrapped the tax increases announced by the previous Government'.
The Guardian (23/06/2010)
Modest rise in CGT, but us could still slow buy-to-let sales
Scrapping the tax increases on buy to let properties is a welcome relief for holiday home owners who are actively letting their properties.
The Independent (23/06/2010)
Budget 2010: Your money
Who are the winners and the losers from the emergency Budget? Blick Rothenberg provides a series of tax tables that look at the effects of the announcements on individuals and families in different circumstances.
The Daily Telegraph (23/06/2010)
Campaigns force climb-down on tax rise threat to small investors
Anyone whose income and capital gains exceeds £43,875 will face the new, higher rate of CGT on any asset sale, comments Frank Nash.
The Daily Telegraph (23/06/2010)
Retailers warn of effect of 20pc VAT
Alan Pearce estimates that the cost of the VAT rise to the average household will be between £7 and £8 per week.
The Daily Telegraph (23/06/2010)
Blow for public sector workers as move to CPI link nets £6bn
Martin Reynard describes the change from linking rises in benefits, tax credits and public services workers' state pension to the consumer prices index from the retail prices index as a 'money saving measure'.
BBC Five Live (23/06/2010)
VAT change to 20%
Alan Pearce comments live on the VAT change to 20% that will take effect from 4 January 2010.
Guardian Online (23/06/2010)
Budget 2010 and you
Frank Nash responds to the public's questions in this online clinic.
Blick Rothenberg Press Release (22/06/2010)
NIC break for new employers promises much but delivers little
George Osborne announced in today’s emergency Budget that new businesses established from today will be exempt from Employer’s NIC but excluding businesses in the South East, London and East of England.
This exemption is to run for three years and will cover the first ten employees hired by a new business, with a view to minimise the costs of employing staff for new businesses.
Toby Ryland, tax partner at Blick Rothenberg Chartered Accountants says “This is a welcome boost for new businesses but it is disappointing to see the South East of England, East of England and London being excluded – whilst these areas have historically been affluent, the recession is hitting all parts of the country and the South East is no different. As ever, the devil will be in the detail and we will need to see exactly what businesses will qualify. We anticipate that the benefit will be relatively limited as many new start-up businesses are not in a position to engage employees immediately – there is often a need to build the business for the first two to three years before expanding and taking on employees.”
Sky News Website (22/06/2010)
Emergency Budget 2010 – Sky News Unplugged
Blick Rothenberg’s Head of Tax, Nilesh Shah, was part of a three person panel providing instant commentary and analysis during the emergency Budget.
Telegraph Online (22/06/2010)
Budget 2010: CGT shock for basic rate taxpayers
Frank Nash points out that Treasury documents make it clear that an individual’s gains will be added to their income when assessing whether they remain basic rate taxpayers for the purposes of the new higher rate of CGT. So, anyone whose income and gains exceeds £43,875 will be liable to pay 28% rather than 18% CGT on gains made after midnight tonight.
Telegraph Online (22/06/2010)
Budget 2010: VAT
Alan Pearce estimates that the VAT increase announced in today's emergency Budget will cost the average household between £7 and £8 a week.
Guardian Online (22/06/2010)
Capital Gains Tax rises to 28%
The rise in capital gains tax announced in the emergency Budget takes effect from midnight tonight. Frank Nash highlight the example of owners of second homes, who are currently in the course of completing a sale, will now be hit for a tax increase they may not have budgeted for.
The Daily Telegraph (17/06/2010)
CGT dodge costs treasury £1bn, claims Cameron
Research undertaken for The Daily Telegraph by Blick Rothenberg indicated that the longer a person holds an asset, the more likely they are to be taxed on an "illusionary" gain because of the effect of inflation. Frank Nash comments that unless allowances for inflation are built in or gains tapered for long-held assets, then nominal and not just real capital gains will be taxed.
The Daily Telegraph (12/06/2010)
Five ways to outwit the Chancellor on CGT
Many investors are taking action now in order to beat the proposed rise in capital gains tax that is expected to be announced in the emergency Budget on 22 June. Angela Beech suggests that those sitting on gains could transfer assets into a trust so that the gain is triggered now, and paid at the current lower rate of capital gains tax.