Trafford Business Connect
A bold vision for the transformation of Stretford Town Centre has been unanimously supported and agreed by Trafford Council. The Masterplan is a timed framework representing a significant step forward in securing Stretford’s sustainable economic future over the next 10 to 15 years. During a public consultation period the community made a number of key comments and suggestions, and in the light of this the Council made a number of modifications to the plan. These included greater flexibility to the proposed future uses of Stretford Public Hall, Stretford Library remaining in its current location and identification of the vacant office units on Edge Lane to be developed for new retail and leisure uses. Also updated were the introduction of new food and drink outlets along the Bridgewater Canal and inclusion of the existing retail and leisure units at the Barton Road/Kingsway junction within the area boundary.
A bold vision for the transformation of Stretford Town Centre has been unanimously supported and agreed by Trafford Council.
The Masterplan is a timed framework representing a significant step forward in securing Stretford’s sustainable economic future over the next 10 to 15 years.
During a public consultation period the community made a number of key comments and suggestions, and in the light of this the Council made a number of modifications to the plan. These included greater flexibility to the proposed future uses of Stretford Public Hall, Stretford Library remaining in its current location and identification of the vacant office units on Edge Lane to be developed for new retail and leisure uses. Also updated were the introduction of new food and drink outlets along the Bridgewater Canal and inclusion of the existing retail and leisure units at the Barton Road/Kingsway junction within the area boundary.
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
March/April 2014 TRAFFORD BUSINESS connect<br />
31<br />
tax<br />
Effective tax planning<br />
It is surprising how many businesses<br />
and individuals go about their account<br />
management without taking the extra<br />
time to analyse where they could<br />
be making financial savings on tax<br />
payments. We aim to ensure our<br />
clients don’t pay a penny more to the<br />
tax man than necessary...<br />
Pension Contributions<br />
This is one of the most tax efficient<br />
forms of saving as all contributions<br />
made personally are paid net of basic<br />
rate tax, as the pension provider<br />
recovers the basic rate tax from HMRC.<br />
Higher Rate Tax payers have their<br />
basic rate band extended by their<br />
gross contribution, so beware of the<br />
controls in place which limit the high<br />
level contributions (£50,000 maximum<br />
in 2013/14 reducing to £40,000 in<br />
2014/15). Many of us are unaware that<br />
any unused limits from the previous<br />
three years can also be considered.<br />
Making a pension contribution<br />
can also assist in the High Income<br />
Child Benefit Charge (for every £100<br />
of income in excess of £50,000,<br />
there will be £1 tax charge on the<br />
recoverable child benefit). You can<br />
avoid the charge if you make pension<br />
contributions that bring your gross<br />
income level to £50,000.<br />
Inheritance Tax<br />
Don’t waste your annual gift<br />
exemptions. We have an annual<br />
allowance of £3,000 per donor, and<br />
any unused gift from the previous<br />
years can be included. For example,<br />
a husband and wife wish to gift some<br />
money to their children but as no gifts<br />
were gifted in the previous tax year,<br />
they can both gift £6,000 each with no<br />
tax implications.<br />
Marital gifts also play a big part of<br />
inheritance tax with a maximum of<br />
£5,000 from a parent to a child; from<br />
a grandparent to a grandchild a<br />
maximum of £2,500 is allowed; and<br />
marital gifts from others can be a<br />
maximum of £1,000. Small gifts can be<br />
included with a maximum of £250 per<br />
year per donor. Lifetime gifts known<br />
as PET’s will be tax free if the donor<br />
survives 7 years from the date of gift.<br />
Should the donor pass away within<br />
that time, there will still be a tax saving.<br />
ISA’s<br />
Use your ISA allowance, as all interest<br />
earned and dividends received on<br />
these are free from both income tax<br />
and capital gains tax! The maximum<br />
cash investment allowed is<br />
£5,760 for 2013/14 with the overall<br />
investment limit including stocks<br />
and shares being £11,520.<br />
Capital Gains Tax<br />
Utilise your annual exemption of<br />
£10,900 per person on Capital<br />
disposals for 2013/14. Jointly owned<br />
assets attract an annual exemption of<br />
£21,800 for 2013/14.<br />
Charitable Donations<br />
Gift aid contributions are made net<br />
and the tax relief reclaimed from<br />
HMRC. The gross contribution<br />
will extend the basic rate band<br />
attracting relief at basic rate.<br />
All gift aid contributions attract tax<br />
relief for Higher Rate Tax payers.<br />
PPI Reclaims<br />
The interest received on funds<br />
gained from making a PPI claim will<br />
be taxable so it is advisable to have<br />
the tax deducted at source from<br />
the interest element. If you file a self<br />
assessment tax return then this must<br />
be declared on the return, and if<br />
you are a Higher Rate Tax payer<br />
there may be additional tax to pay<br />
on this interest.<br />
Enterprise Investment Scheme (EIS)<br />
Investment into EIS schemes attracts<br />
a ‘tax reducer’ such as the CGT<br />
exemption, which may be given on<br />
disposal of the shares if held for three<br />
years or alternatively, any gain can be<br />
deferred if reinvested into other EIS<br />
shares. Income Tax Relief is at 30% on<br />
new equity investment into qualifying<br />
unquoted trading companies.<br />
Venture Capital Trusts (VCT’S)<br />
This is where there is an investment<br />
into the shares of unquoted trading<br />
companies. The investor will be<br />
exempt from any tax on dividends<br />
received and on any capital gain<br />
arising on disposal of the shares.<br />
Les Leavitt<br />
Leavitt Warmsley Associates<br />
Chartered Certified Accountants<br />
www.lwaltd.com<br />
Are you squeezing<br />
the most from<br />
your advertising<br />
budget?<br />
For a FREE review<br />
of your marketing and<br />
promotional activity<br />
CALL NOW on<br />
0161 291 0224<br />
JON CHEETHAM DESIGN<br />
DESIGN AND MARKETING SERVICES<br />
DESIGN • ADVERTISING • BRANDING<br />
PACKAGING • PRINT • NEWSLETTERS<br />
CATALOGUES • POS • WEBSITES<br />
CORPORATE IDENTITY • DIRECT MAIL<br />
www.joncdesign.co.uk<br />
42 Highcrest Avenue, Gatley, Cheadle SK8 4HD<br />
e. jon@joncdesign.co.uk
Change language