A Summary of the Changes to the Benefits and Expenses Regime from April 2016

27 April 2016

Following a review of the legislation governing benefits in kind and employee expenses by the Office of Tax Simplification, there have been four major changes introduced from 6 April 2016.

SME Support: Grants to provide additional workspace to support SMEs In Cornwall & The Isles of Scilly

Up to £10 million has been made available through the Cornwall and Isles of Scilly Growth Programme to develop additional workspace to support SMEs.

A minimum value of £250,000 of funding can be applied for. Consequently projects with a total value of less than £312,000 will not be supported under this call.

Life policies – Partial surrenders and Assignments – HMRC Consultation

26 April 2016

HM Revenue & Customs (HMRC) published a consultation on Wednesday (20 April 2016) proposing changes to the taxation of part surrenders and part assignments of life insurance policies.

Business Cornwall Share Exam Success

A New Chartered Tax Adviser

Grant Fund for Growth Businesses – BIG2

Prince’s fund open for £50,000 grants

The Prince’s Countryside Fund is open with grants of up to £50,000 available for rural communities.

Funding is available for rural initiatives that benefit communities – such as projects involving village shops, pubs and the delivery of other important services.

Innovation Vouchers

Innovation Vouchers worth up to £5,000 can be used to pay for an external expert to help your business grow.

The Fiver Challenge

Last but not least this years “Fiver Challenge” has been launched for young people aged 5 – 11 years, across the UK and aims to inspire creativity and develop enterprising attitudes and behaviours by providing a highly interactive, fun way of introducing financial literacy, resilience and teamwork in learning for primary school pupils.