Lyons Wilson November 2011 Bulletin
Children in Need
Lyons Wilson is supporting the BBC Children in Need Appeal this year by way of donating 10% of our fees for advice and preparation on Wills. We would charge £100.00 plus VAT for a joint standard Will, and £75.00 for a single standard Will, plus VAT. We would actually structure the fees on the basis of our charges would be £90.00 plus VAT, plus a donation of £10.00 to Children in Need, thereby avoiding VAT on the donation.
We were also involved in supporting Costco in their fundraising event in September 2011.
Barlow Hall Primary School
We are supporting Barlow Hall Primary School’s Annual Winter Fair by donating raffle prizes and Christmas treats to help raise funds for outdoor equipment for the children.
Legal News
Co-Habitation Agreements
The most recent case of Jones v Kernott [2011] UKSC 53, particularly the Lead Judgment of Lady Hale in the Supreme Court, demonstrates the issues and difficulties in deciding property and financial issues between unmarried couples living together, with or without children. The case is also a timely reminder that a legally enforceable agreement between such parties before they cohabit must always be desirable, from a commercial point of view, in setting out, and creating evidence, of the intentions of the parties before they actually do cohabit. Having said that, it is never too late, and such a cohabitation agreement can actually be executed during the time that the parties are together provided they have careful legal advice on the subject.
Lyons Wilson October 2011 Bulletin
Capital Allowances
You may be aware that Capital allowances are available to businesses and individuals on property transactions with regard to commercial property. We understand that in April next year, 2012, the Revenue intend to change the rules in that regard, probably as a result of a increased awareness of the subject that, we believe, has led to many successful claims for high sums with regard to Capital allowances, and no doubt that is a reason why the Revenue seek to restrict such claims, and the availability of them, from next April 2012. At the moment if you have a qualifying commercial property, you are able to make a claim, for example in respect of expenditure on plant machinery, renovations etc, dating back to when you originally purchased the property. The new proposals before Parliament we understand are to limit the time frame to one or two years.
If you have commercial properties that qualify, it must be in your interest to immediately contact your accountants to make sure that they have taken into consideration the question of Capital allowances, and that they have made the appropriate claims. Do not assume, that any appropriate claim that has already been made, is correct and exhaustive. We understand that there are very few firms in Manchester that are sufficiently experienced on the subject of Capital allowances and therefore perhaps any existing work on the subject that you may already have carried out, should be reviewed.
If we can be of any help on the subject please contact us on 0161 830 7756.
