Winter winners
With the onset of winter it is pleasing to report some favourable news.
Scrappage scheme extension
The government scheme, which offers a £2,000 discount on certain new vehicle purchases, funded partly from the government and partly by motor manufacturers, has had a further £100 million injection. The scheme is still destined to end on 28 February 2010, whether or not funding is still available so now is the time to act. Further, the original requirement that only the trade in of vehicles registered by 31 August 1999 could qualify has been amended to allow cars registered by 29 February 2000 to qualify. A van now qualifies, where registered by 28 February 2002.
ISA increase
The level of investments in tax free ISAs increases from 6 April 2010 to £10,200 overall compared with the current £7,200. The cash element within the overall limit increases from the present £3,600 limit to £5,100. For those aged 50 or over, the increased limits became available from 6 October 2009 for investments made for this tax year 2009/10.
Please do contact us if you need any assistance on these areas.
Disclaimer - for information of users: This newsletter is published for the information of clients. It provides only an overview of the regulations in force at the date of publication, and no action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material contained in this newsletter can be accepted by the authors or the firm.
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