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Once again the financial markets start the year with a high level of uncertainty. The Governor of the Bank of England has to grapple with the problem of when to raise interest rates. Many people are now suggesting 2017 but, as we normally follow the US, it seems more likely that it will be this year. On the property front the Government seems determined to weaken the buy to let market & this could have an adverse effect on prices. The restriction in tax relief on loan interest (from April 2017) & the extra 3% stamp duty on buy to let or 2nd homes (from April 2016) may well drive out many landlords or encourage the sale of some property to pay down debt.
The new dividend tax regime effective from 6 April 2016 will affect many people especially owners of Companies with low salaries and high dividends. An additional dividend in this current tax year may well be beneficial. If you require any advice then please contact the Partner responsible for your affairs.
Our own view of the local economy is positive & many clients are showing improved turnover & profit. Our Company Secretarial department incorporated on average more than 1 new limited company per week last year & the offer to form companies for clients for the sum of £25 plus VAT has been extended until 30 June 2016. Further details are on this website.
The introduction of compulsory workplace pensions (known as Auto Enrolment) has brought many clients into the Office to attend one of our free presentations which last for approximately 1 hour. These are held in small groups of up to 8 people on Friday mornings & the schedule for 2016 is looking very busy. Book now to avoid disappointment!
Our Financial Services business, EC Financial Services Limited, has now been trading for 10 years under the excellent leadership of David Carr. The business has 6 employees & with further growth anticipated we needed more space & were fortunate to find another office, conveniently located 75 yards away, at 122 New London Road. If any advice is required please contact David or his Co Director Kevin Bray via their website www.ecfsltd.co.uk
Happy New Year
David Drain Managing Partner (& David Bowie fan)
11 January 2016
Details of the Spring Statement. Our summary focuses on the issues likely to affect you.
Details of the Autumn Budget 2017. Our summary focuses on the key issues.