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Osborne hits tax break for incorporating firms

first_imgThe number of firms converting to limited companies is likely to plummet following tax changes announced in chancellor George Osborne’s autumn statement, experts said today.The changes, which took effect from Wednesday (3 December), are to a tax break known as entrepreneur’s relief introduced by the last Labour government which allowed income from the sale of goodwill in a practice to be taxed at only 10%. Goodwill is typically valued at a year’s turnover.In the statement, Osborne said: ‘The government will stop individuals and partnerships from gaining an unfair tax advantage by transferring their businesses into a company they control, and then claiming corporation tax deductions for assets linked to the business’s reputation and customer relationships.’Following the announcement, entrepreneur’s relief will not be available on disposals of goodwill to a ‘close company’ to which a seller is related. A close company is defined as having five or fewer participators; any number of participators if those participators are directors or one where, on winding up the business, more than half of the assets would be distributed to five or fewer participators who are directors. Andy Poole, legal sector partner at accountants Armstrong Watson, said this would catch ‘the vast majority of law firms looking to incorporate’.The ability of unincorporated law firms to sell goodwill to their own company, and pay only 10% tax and then subsequently withdraw the money from their loan accounts tax free, was seen by many as the icing on the cake, Poole said.‘In future business owners will still be able to transfer goodwill to their own companies but will either have to pay full value at up to 28% capital gains tax or, more likely, merely transfer goodwill at its base cost so as not to create a taxable gain.’Louis Baker, head of professional practices at national audit, tax and advisory firm Crowe Clark Whitehill, said: ‘This will end of the flow of firms converting to limited company status solely for tax mitigation purposes. From now on firms will choose their ownership structure and entity on purely commercial and cultural grounds.‘Many firms will reflect that the partnership/LLP model remains the right vehicle for their firm, and there will be far fewer converting to limited company status than has been the case in recent years.’Karen Hain, head of professional practices at MHA, the national association of independent accountants, said that another blow from the autumn statement is that the new rules will prevent any tax relief claims by the company for the amortisation of the goodwill.‘Notwithstanding these changes we still think it is worth professional practices such as solicitors and architects considering incorporating their businesses as the income tax benefits remain intact.’last_img read more

The outer worlds: peril on gorgon DLC is coming soon

first_imgThe Outer Worlds: Peril on Gorgon is the first narrative expansion to the award-winning RPG from Obsidian Entertainment and Private Division. Intrigue and danger: Search an abandoned Spacer’s Choice facility and encounter a cast of new characters as you uncover the mystery behind the sudden cancellation of the Gorgon ProjectNew locations: Explore the treacherous canyons of the Gorgon Asteroid and encounter enemies that have been warped by science.More science weapons: Discover three outlandish new science weapons, including the P.E.T. (Pest Extermination Tool), an exciting new melee weapon that draws in enemies for close-range attacks.Expanded character customization and lore: An increased level cap, additional perks and flaws, wholly new armour sets, and several variants for existing gear. Plus, dig into the story of the Gorgon Asteroid with new Portable Phonograph audio logs that reveal the salacious secrets of a scientific experiment gone wrong. If you’re yet to play the game, check out our Outer Worlds review for more information. Key Features: The Outer Worlds: Peril on Gorgon will be released on 9th September 2020 and will be available for PC, Xbox One and PS4. Watch the Peril On Gorgon release trailer below: A severed arm and a mysterious message lead the crew of the Unreliable to the Gorgon Asteroid, formerly the site of one of Halcyon’s most ambitious and disastrous scientific undertakings, now a lawless den of monsters and marauders. Wealthy recluse Minnie Ambrose tasks the crew with finding answers about Dr. Olivia Ambrose, her mother and the doomed project’s disgraced director, but they are soon ensnared in an intrigue that will change the colony forever.last_img read more

Facebook, Twitter join coalition to improve online news

first_imgFacebook, Twitter join coalition to improve online newsFacebook, Twitter and news organizations including Agence France-Presse have joined a coalition of media and technology groups seeking to filter out online misinformation and improve news quality on social networks.The partner network includes Facebook, Twitter, YouTube, The New York Times, Washington Post, BuzzFeed News, CNN, ABC News of Australia, ProPublica, AFP, The Telegraph, France Info, Breaking News, Le Monde’s Les Decodeurs, International Business Times UK, Eurovision News Exchange and Al Jazeera Media Network.Jenni Sargent, managing director of First Draft, said the partner network will help advance the organization’s goal of improving news online and on social networks.Sargent said in ablog post that ist is difficullt to filter out false information, even if news organizations share nly fact-checked and verified stories, everyone is a publisher and a potential source.“We are not going to solve these problems overnight, but we’re certainly not going to solve them as individual organizations.” AFP reportsSargent said the coalition will develop training programs and “a collaborative verification platform,” as well as a voluntary code of practice for online news.“We live in a time when trust and truth are issues that all newsrooms, and increasingly the social platforms themselves, are facing,” she said.“Each partner is committed to sharing knowledge, developing policies and devising training in how journalists use the social web to find and report news.”The announcement comes amid concerns over the growing role of social networks, especially Facebook, in delivering and filtering news, and sometimes allowing hoaxes and misinformation to proliferate.Other organizations in the network include Amnesty International, European Journalism Centre, American Press Institute, International Fact Checking Network and Duke Reporters’ Lab.”Source: AFPlast_img read more

Farmington, Hills 2020 Census response rate needs a boost

first_img Reported by As local residents spend more time at home because of the Coronavirus Disease 2019 (COVID-19) pandemic, Oakland County Executive Dave Coulter recently issued a reminder to fill out the 2020 U.S. Census.Just 57.2 percent of Farmington Hills residents and 53.2 percent of Farmington residents had responded as of April 7. Michigan’s rate is third in the nation, at 52.9 percent.Filling out the online form takes about 10 minutes. Visit 2020census.gov to learn more and respond. Farmington Voice Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)last_img

Triumph Rocket III TFC Officially Unveiled

first_imgAfter teasing us earlier this year, besides the launch of the Thruxton R TFC, the Triumph Rocket III TFC has been officially unveiled.Besides wearing the TFC (Triumph Factory Custom) badge, the Rocket III also claims the record as the biggest volume-production engine. Triumph upped the capacity from 2282cc to a whopping 2458cc. Thus, the new powerplant produces 167 hp and get this: 221 Nm of torque! If you’ve never pitied the rear tyre, now’s the time to do so.However, it wasn’t just the extra cubes that contributed to the extra ponies. The manufacturer also reworked the head and gave it titanium valves. The carbon-tipped Arrow silencers also helped.Reining in that massive power is a new electronic suite consisting of lean-angle sensitive traction control and ABS, in addition to four ride modes. Oh, there’s also a quickshifter with auto-blipper.Other electronics include hill hold control, cruise control, keyless ignition and tyre pressure monitoring. The full-colour TFT display/instrument panel is the latest which appeared on the Triumph Scrambler 1200 XE. As such, it ought to include integration with not only your phone but also your GoPro camera.The chassis and suspension have also been upgraded. At the front are 41mm cartridge Showa forks and a rear shock with piggyback reservoir. The front brakes consist of Brembo Stylema calipers, just like those on the Panigale V4 range.The updates have turned the Rocket III into a serious power-cruiser to challenge the Ducati Diavel and Harley-Davidson V-Rod. Gone is the sedate-looking “old man’s cruiser” with a big engine.Before we forget, Triumph will only build 750 units of the Rocket III, priced at £22,000 each.But will there be a regular, non-TFC new Rocket III? We’d like to think so!–Ads– The new Triumph Rocket III TFC has been officially unveiled. The engine is now 2500cc, producing 167hp and 221Nm.center_img Its electronics, chassis and suspension are also upgraded.last_img read more

The Coach Shinnick Show – October 16

first_imgEveryone was on the road and @UWFFootball had a bye week, but it was still a busy time for Argo Athletics! Catch it all on this week’s edition of the Coach Shinnick Show! #GoArgos  Print Friendly Versionlast_img

Menhub Gulirkan Rencana Bus “Trans Java,” Pengusaha Bus AKAP Utarakan Kekecewaan

first_imgDirangkum KabarPenumpang.com dari berbagai laman sumber, meski ide yang tercetus dari Budi Karya tersebut membuat para pengusaha bus AKAP meradang, tetapi hal tersebut belum teralisasikan dan masih didiskusikan kepada semua pihak termasuk Organisasi Angkutan Darat (Organda). Pengurus Pusat Ikatan Pengusaha Otobus Muda Indonesia (IPOMI) Anthony Steven Hambali mengatakan, wacana tersebut membuat kecewa para pengusaha bus. Apalagi para pengusaha bus selama ini berusaha untuk mengikuti segala macam regulasi yang dikeluarkan oleh pihak Kemenhub.“Sebenarnya ini baru gagasan, tapi sudah sangat berdampak apalagi nanti bila hal tersebut dilakukan. Harusnya kementerian lebih memperhatikan kami, selama ini kami sudah mati-matian mengikuti regulasi, tiba-tiba tol ini jadi (Trans Jawa) langsung mereka berencana membuat transportasi sendiri, lantas bagaimana dengan kami,” kata Anthony.Dia mengaku keberadaan tol Trans Jawa saat ini sebenarnya menjadi sebuah titik cerah para pengusaha bus. Apalagi tol yang menyambung dari Merak hingga Pasuruan tersebut membuat para pengusaha bus lebih semangat untuk melangkahkan bisnis mereka ke depannya.Direktur Angkutan Multimoda Kemenhub Ahmad Yani mengatakan, saat ini beberapa bus AKAP yang mengarah ke Jawa Tengah maupun Jawa Timur hingga Madura, trayeknya sudah menggunakan tol Trans Jawa. Sehingga bisa dikatakan, secara tidak langsung angkuktan Trans Java sendiri sudah berjalan. Sedangkan bus Trans Java versi Kemenhub rencananya akan menggunakan bus eksekutif atau premium, tetapi Yani belum menjelaskan lebih detail akan menggunakan armada apa.Sebelumnya Kemenhub mengatakan selain dengan BUMN juga akan melibatkan pengusaha bus swasta. Hal tersebut dikatakan Direktur Jenderal Perhubungan Darat Kemenhub Budi Setiyadi bahwa pihak swasta akan dilibatkan termasuk untuk masalah operator.Budi Setiyadi menjelaskan, kebijakannya tengah mendorong untuk merealisasikan bus Trans Java yang juga meluruskan dimana Kemenhub jugapasti menggandeng pihak swasta yakni para pengusaha bus yang memang mengoperasikan armadanya di trayek tersebut.Baca juga: Bukan Nama Wanita, Rosalia Indah Kondang Sebagai Perusahaan Otobus“Kami masih mengolah tahapannya untuk mencari formulasinya. Karena dengan keberadaan bus Trans Java akan sedikit mengubah regulasi yang sudah ada. Tak hanya itu masalah infrastruktur juga menjadi sorotan utama kami,” ujarnya.Budi Setiyadi menambahkan, nantinya jika jadi dioperasikan, bus tersebut hanya akan beroperasi sesuai namanya yakni Trans Jawa saja.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Like this:Like Loading… RelatedBusworld South East Asia 2019 Siap Digelar di Jakarta, Inilah Pameran Bus Terbesar Berskala Internasional16/01/2019In “Bus AKAP”Siap Kembalikan Mas Jaya Bus AKAP, Inilah Serba-Serbi Terkait Tol Trans Jawa06/12/2018In “Bus AKAP”YLKI Minta Pemerintah Hilangkan Bilik Rokok di Dalam Bus AKAP05/03/2019In “Bus AKAP” (Poskota News) Jalur tol Trans Jawa yang kini sudah bisa digunakan akan membantu mempercepat perjalanan baik pengguna kendaraan pribadi maupun angkutan seperti bus Antar Kota Antar Provinsi (AKAP). Namun, Menteri Perhubungan Budi Karya Sumadi justru memiliki ide untuk membuat moda transportasi umum selain bus AKAP yakni Trans Java.Baca juga: Siap Kembalikan Mas Jaya Bus AKAP, Inilah Serba-Serbi Terkait Tol Trans JawaDalam rencananya tersebut, bus akan menggandeng Badan Usaha Milik Negara (BUMN) yakni Jasa Marga dan Perum Damri. Sayangnya ide Menhub ini membuat para pengusaha bus AKAP kecewa. Sebab bila terealisasi maka akan mempengaruhi bisnis serta usaha yang dirintis oleh pengusaha bus AKAP.last_img read more

WATCH: Cavs take subway ride in New York

first_imgThey continued to document the actual journey on the train itself.Arguably the best part about the clip below is the “Can you not?” subway man, as Twitter has dubbed him, who clearly has no idea that the man sitting next to him filming is LeBron James. The commuter got so annoyed that he actually got up and left, off to the green pastures of Twitter stardom.Just @KingJames & the @cavs making the Monday morning NY subway commute. NBD. pic.twitter.com/kfCSNH1ghQ— UNINTERRUPTED (@uninterrupted) November 13, 2017The Cavs tip off against the Knicks at 7:30 p.m. NEW YORK– When in New York, do as New Yorkers do.That’s exactly what the Cavaliers did on Monday morning as they took the subway from their shootaround back to their hotel. They were faced with either a 45 minute bus ride, or a six minute ride on the train.“Trying to be like real citizens man,” J.R. Smith says in the video. Related TopicsCavsClevelandCleveland CavaliersLebron JamesNew YorkNew York Knicks Ashley Bastock Ashley is a former basketball player who covers the Cleveland Cavaliers, Indians and high school sports for NEO Sports Insiders. She also covers the Cavs for SB Nation’s Fear The Sword. Ashley is a 2015 graduate of John Carroll University and previously worked in political journalism. You can follow her on Twitter @AshleyBastock42last_img read more

Red Kettles Bring in Tens of Thousands for Charity

first_imgFanning: “But so far we are running real even with last year. Last year was our best year and we are running even at this point with last year, so I’m real excited. It’s looking good.” Fanning: “The community does very, very, very, they’re very generous down here with us, so we appreciate it.” So far this year, the kettles have raised about $33,000. FacebookTwitterEmailPrintFriendly分享It’s another short year for the Salvation Army’s red kettles, but donations have been flowing in. Salvation Army Envoy Craig Fanning says this holiday season will be four days shorter than average, due to the way Thanksgiving and Christmas fall this year. The kettles will remain out until Christmas Eve. Fanning said the kettles brought in nearly $48,000 in the Kenai/Soldotna area last year.last_img read more

Win hospitality to Cherries friendly

first_imgThe Premier League outfit are the club’s last opponents in the pre-season calendar and will visit Ashton Gate on Friday, July 27th (7pm kick-off).To enter the competition, click here to answer the following question:The last time Bristol City and AFC Bournemouth met in a competitive capacity, who were the two City goal scorers?The winner will be announced on July 23rd.Alternatively to guarantee your hospitality place prices are at £39+VAT per person.BUY NOWlast_img