Spring 2008 Newsletter Content Winter Of Discontent CGT Winners CGT Losers Shifty Business Anything To Declare? Long Arm Of The Law Irreplaceable You Earn As You Pay Ask Questions Later Capital Ideas ISA ISA ISA Referee! Go Green VAT Or No VAT? Taking The Register Close Encounters May Contain Nuts Going Concern Ancient History Business And Pleasure Do Your Duty Know Your Rights Time To Go? Passing The Buck

Capital Ideas Remember that the rules on capital allowances are changing significantly on 1 April (for companies) and 6 April (for income tax traders). Small businesses will be able to get 100% relief on £50,000 a year of expenditure on plant, but writing down allowances will fall from 25% to 20%. As the first year allowance is currently 50% for small businesses, you are better off under the new rules if you spend up to £100,000 on plant. If you're likely to spend no more than £50,000 in the next year, you might be better off waiting till the new rules come in, so you'll get a 100% deduction straight away. The rules are complicated if your year-end is not 31 March. We'll be happy to discuss with you the best timing for capital expenditure and the way the rule changes will affect you.