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STOP PRESS - 7 May 2009
We look forward to catching up with many of our registered investors at our 19th London Investment Fair next week on Wednesday 13 May. Despite (or perhaps because of) the current economic climate we expect attendance higher than last year given the number confirming interest so far. We even managed some small coverage in the FT Money section on 2 May under headline “Investors look to fund start ups”. It’s not too late to register and if you would like to pop in during the day or bring a guest do please let us know by email to jbeer@beerandpartners.com or telephone Jay Fisher on 08701 633 033.
One of the few positive things in the recent Budget? was that EIS? relief becomes even more attractive if you have the misfortune to be a 50% taxpayer. Under Chapter 6 ITA 2007, loss relief on an investment that qualified for EIS is available against general income. Therefore, unless this is changed, if the individual is a 50% taxpayer and realises such a loss then his taxable income is reduced by the loss at the 50% rate. This means that the downside could be limited to 40% (100 less initial 20% on investment and then 50% of the remainder) of the amount invested and the upside free of CGT?.
On a lighter note Peter Horsman of Saffery Champness illustrated at their Budget seminar that if an individual earning £150,000 a year and investing £100,000 into his pension received a bonus of £30,000 they would pay tax at 50% on the bonus, limit tax relief on pension contributions to 20% and suffer a marginal rate of tax of 117%!
Michael Weaver, Beer & Partners Limited
Date:
Wed, 2009-05-27