The 50% hit on the horizon by Steve Foster
Transcription
The 50% hit on the horizon by Steve Foster
Key career and practice advice www.ricsbusiness.com Practice CONTENTS 32 Storing 35 Sharpen up 37 Focusing 38 What is 41 We map data is a hot issue – literally. We look at the challenges facing data centres your negotiating skills to make sure you get the right price from your client ADR and how well-equipped is the property business to practise it? out one of the many benefits to your RICS membership on overage provisions and how you can gain value in the downturn isurv is brought to you by RICS. Subscribers have access to RICS standards, best practice commentary, and hundreds of sample forms and precedents available for download. isurv is available with a seven-day free trial. Visit www.isurv.com today to see how it can help you and your business. NEW BOOKS COMMERCIAL ENERGY ASSESSOR’S HANDBOOK Larry Russen, Simon Rees and Stephen Neale, RICS The Commercial Energy Assessor’s Handbook is packed with practical explanations and insightful advice for the new role of the CEA. Focusing on the knowledge, understanding and competence required for the National Occupational Standards level 3 and 4 non-domestic energy assessors, their role in this new profession and the processes involved in delivering the service, Commercial Energy Assessor’s Handbook takes a unique approach to this critical area. Step-by-step guidance is fully illustrated with photographs, graphics and short case studies to help put into context the skills required of a CEA. Price: £45 Code: 18096 RICS SURVEY WRITER: SAMPLE PHRASES FOR THE RICS HOMEBUYER REPORT Phil Parnham, RICS Survey Writer phrases are clear and easy for your clients to read, and will help to limit misunderstandings. If you’re using Survey Writer online you can also save your edited phrases to your Favourites, and re-use as you need to. These standard phrases are designed to: ■ Ease the process of reporting on standard circumstances and defects, so that surveyors can concentrate on areas where their professional expertise is most needed ■ Create greater consistency in reporting between one surveyor and another so that a member of the public knows what to expect from an RICS HomeBuyer Report. Price £32.95 Code: 18095 www.ricsbooks.com hk.ricsbooks.com t + 44 (0)870 333 1600 e [email protected] www.ricsbusiness.com 31_RICS_Jan10.indd 31 The 50% hit on the horizon Happy New Year! I sincerely hope that 2010 is much better than its predecessor for the surveying profession. And with the start of the year, it’s good to look ahead – particularly given the imminent arrival of tax increases in the UK. These may affect partners whose profits have held up and also senior employees (including directors) who remain on more generous packages, despite poor corporate performance. Measures which restrict tax relief for certain pension contributions to the basic rate (rather than the higher rate) have already been introduced. From 6 April those with higher incomes will also lose the personal allowance and face the new 50% income tax rate. If your firm is concerned about the impact of the 50% income tax band, here are some thoughts. High level earners should anticipate any income which might fall after 5 April, but which could be paid before then. It is wise to defer tax deductible expenditure due before 5 April to reduce 2010/11 taxable income. This could mean: ■ paying dividends by 5 April ■ voting directors’ remuneration in by 5 April ■ paying bonuses or commissions by 5 April, rather than in the following tax year. With only a few months to go, now’s the time to look at your high-earners’ remuneration in relation to the new tax rate. Talk with your accountant about softening its dent on you and your colleagues. Steve Foster, Principal, Shipleys LLP January 2010 RICS Business 31 10/12/09 15:51:27
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