Summer Update 2015

Taxing times may be taking a small summer break this month but believe us we’re not! There is so much going on over the next few months so we thought we’d let everyone know what we’re up to…

Dotted LineCumberland Show:

We will once again be at the Cumberland Show in full force on Saturday 6 June at Carlisle Racecourse for what promises to be another fun filled family day with loads to do for everyone of all ages. This year our very own Robert Wharton is taking his turn as chairman of the show and after the fantastic success of the last few years he has vowed to continue the run and make it even bigger and better than ever before.
cumberland show small

So join us at the Dodd & Co tent for a craic and a brew (or even a pint or two!) and join in the fun with our #selfie with the chairman competition…that’s if you can find him of course!

We will also be at the NSA North Sheep 2015 event at Millstone Moor Farm, Cockermouth on Wednesday 3 June, followed by the Penrith Show (25 July) and the Dumfries Show (1 August).

Dotted Line2Summer Budget 8 July 2015:

Following the 2015 General Election and slight shift in power to a majority Conservative Government there will now be another Budget held on Wednesday 8 July. As usual, we will provide commentary on the Budget on the afternoon of the 8th but in the meantime we have set out a few “Budget predictions” below – it will be interesting to see which of these are announced and whether there are any surprises!

  • A new significantly higher, permanent level for the Annual Investment Allowance (‘AIA’) has been promised – it is hopeful that this will be at the £250,000 level rather than at the £100,000 level that has been bandied about;
  • Non domicile status is an area the Government are particularly worried is open to abuse – perhaps at the very least a limitation will be imposed on the ability to inherit non-domiciled status for individuals born in the UK;
  • Entrepreneur’s Relief (ER) has been tinkered with and tweaked of late in surprising ways. It is unlikely that ER will be subject to any further significant changes but there may be changes to CGT in general.   As the current full rates of Capital Gains Tax are 18% and 28% (excluding the Entrepreneur’s Relief rate of 10%) something could be done to bring them more in line with the top rates of income tax of 40% and 45% – might a top CGT rate of 35% or so be in point?;
  • In its campaign the Conservative Party said it would reduce tax relief on pension contributions for those paying tax at 45%. This restriction could apply instantly as an immediate action which would eliminate a significant amount of tax relief from the Government’s books….and perhaps to show that they are not favouring the “rich”?

Dotted LineAuto Enrolment Seminar Penrith:

AE Seminars

At the start of the year we ran some very successful seminars to explain the ins and outs of the new auto enrolment process, what it means and how to go about it. After completing the process ourselves for all Dodd & Co employees last year and helping a number of our clients transition smoothly through the process we have now truly been there, done that and got the tshirt.

After such great feedback and by popular demand we have therefore decided to run another seminar, this time in Penrith. The free seminar will be held on Wednesday 16 September at the George Hotel, Penrith from 6pm until 8pm. To book your place please contact Debs Hirst on 01768 864466 or email debs@doddaccountants.co.uk

We are also in the process of arranging another free seminar in the Dumfries area so look out for details coming soon!

Dotted Line2Money Talks Column:

We hope many of you have by now seen our new weekly column running in the Cumberland News, Whitehaven News and Times & Star papers. The “Money Talks” column covers a whole range of topics and offers advice and guidance from our pool of column headliners (below).

CN Column Headliners

Every week we will be writing about all things money from pensions and auto enrolment to student finance, holiday pay and pub advice (all those great ‘tips’ you hear down the pub, fact or fiction, we’ll set the record straight!) Look out for it and do let us know what you think @doddaccountants or #cnexpertadvice.

Dotted LineClimbforCAN:

We have been involved with Sir Chris Bonington, Doug Scott and the charity, Community Action Nepal (CAN), for many years and we are very proud to be a sponsor of a fantastic fundraising event taking place on Friday 12 June 2015. There are some great sponsorship opportunities available from as little as £250 (made even better by the fact every penny is going to the Nepal Earthquake Appeal). Those who are not able to sponsor the event are still able to join in with the campaign including the actual challenge itself!

Climbforcannewsstory

The world renowned climbers  will lead an ‘expedition’ to scale the equivalent of the height of Everest (8,848m) on the ice wall at King Kong Climbing Centre in Keswick and are inviting up to 240 members of the public to join the climb. To complete the expedition, the team will need to climb the wall 1,000 times within 24 hours. Tickets to be a part of the climbing team are available now, but be quick they are limited.

We have 2 brave doddies who have jumped at the opportunity to take part in the climb so if you or anyone else in your team would like more information on how to get involved please visit climbforcan.org

 Dotted Line2‘In The Know’ Magazine

Look out for the latest edition of our jam packed ‘In The Know’ Magazine due to land on doorsteps late June. If you don’t usually receive a hardcopy but would like one sent out please just let us know on 01228 530913 or email info@doddaccountants.co.uk

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