Budget 2011

[shaunbhoy]

I was quite impressed with this piece..............

BBC News - Public money to cut water bills in South West England


Not before time!!

[AtW]

I was quite impressed with this piece..............

BBC News - Public money to cut water bills in South West England


Not before time!!

Why should taxpayers from grim op norf subsidise the south?


You want to cut water bills? Install a meter!

[d000hg]

Yes, we put a very modest claim for the last FY year.

I'd say it is very hard to prove you qualify - rules are pretty strict giving plenty of scope to reject claims. It all depends on individual circumstances and I'd recommend using accountant to advise you rather than public forum.

In my final analysis this whole R&D scheme was created for fairly large companies that should not even need such schemes.

I've asked accountant but since it's specific to science-based R&D I would guess they're not the best ones to advise either.

I'm interested since the work I do involves virtual surgery and we're developing stuff that's not been done before. As such I wonder if MyCo did some original work in this field (not for a client) it would qualify... at 200% you could hire a developer to work purely on this effectively for free, as long as you have enough profit. I guess that's the problem for very small companies, you need to be making £200k profit so your 20% CT will cover hiring someone at £40k.

I'll research this...

[AtW]

I've asked accountant but since it's specific to science-based R&D I would guess they're not the best ones to advise either.

It cost us some £££ for our accountant to investigate it, talk to HMRC and get satisfied that we qualify.

I'll research this...

Give HMRC a call and explain what you do - it helped us to gain confidence that we are qualifying.

They actually can give cash to you - we've opted to have tax credit instead, they are likely to be more receptive to such cases given amount of fraud that's going on with VAT etc.

[SimonMac]

Has the fact that the milage rate gone from 40p to 45p for the first 10,000 miles been missed completly on here?!

[AtW]

Has the fact that the milage rate gone from 40p to 45p for the first 10,000 miles been missed completly on here?!

If you are not using chauffeur driven car then you are a total loser and don't belong to this fine UK IT Contractor forum

[SimonMac]

If you are not using chauffeur driven car then you are a total loser and don't belong to this fine UK IT Contractor forum

Does my LearJet's pilot count?

[AtW]

Does my LearJet's pilot count?

It can be if you are designing new airplanes and your pilot is a test pilot ...

[minestrone]

I do

Bad things in budget:

1) annual investment (into hardware not city casino stylee) cut to £25k in 2012 - in 2011 it should already be cut to £50k I think - ffs we buy lots of servers ffs!
2) fuel duty is a CON - they levy as much from oil companies, so expect to pay more at the pump, North Sea investment becomes even less desireable - he continues Brown's route of fooking up UK in terms of having secure supply of energy nearby. This is basically same as increasing Employer NIC rather than Employee - shifting costs, only this time it is direct tax on product so it will be passed on
3) enterprise zones - boll0x as it is for companies that move into them (ie - invitation for fakers), most certainly business rates discounts (we pay plenty!) won't apply to existing companies
4) fuel "stabiliser" - what a load of con - it will still go up but not higher than inflation, gee thanks!

Ducking NI+IT merge until end was expected, I can't see them doing it just before new elections though.

---

So in conclusion - b0llox budget, even though I welcome increase in Entrepreneur relief to £10 mln - much more sensible figure than Liebors £1 mln, but still not as good as long term capital gains relief.

So a benefit scrounging immigrant with a failing company is pissed off at the Budget.

[Pondlife]

Does my LearJet's pilot count?

Not worth it now as you have to pay APD on the flights.