Budget Highlights
The main changes announced in the 2010/11 budget included:
- The increase in the rate of VAT from 17.5% to 20% to take effect in the new year.
- The increase in the personal allowance in the tax year 2011/12.
- The immediate increase in the rate of capital gains to tax for higher rate income tax payers from 18% to 28%.
- The rise in entrepreneurs’ relief for capital gains tax from £2 million to £5 million.
- The progressive cuts in the rates of corporation tax over the next four years, financed by cuts to capital allowances.
- The abolition of the effective requirement to annuitise pensions at age 75 and the prospect of changes to higher rate tax relief on pension contributions.
We recently mailed out the tax card to all our clients and hope it proves useful. If any of the areas mentioned above or included in the tax card seem likely to have an impact on your tax and financial planning, please do not hesitate to contact us.
Partners celebrate important anniversaries at Gilroy & Brookes
There was much to celebrate recently when two major anniversaries coincided at local Chartered Accountants Gilroy & Brookes. Laurie Powell celebrated 20 years of joining the firm whilst his Partner Brian Green celebrated his 40th anniversary of achieving his professional qualifications. "We are delighted to be marking this occasion with loyal staff and clients" said Laurie Powell. "Gilroy & Brookes are known for their personal approach and excellent customer service which is due to the professionalism and loyalty of all our employees. We look forward to continuing to provide our clients with high levels of expertise and advice".
Phyllis Tuckwell Walk for the Wards - Make the decision to make a difference
Gilroy & Brookes have for many years supported the work of the Phyllis Tuckwell Hospice and this year, their 30th anniversary of providing Specialist Palliative Care to the local community, was no exception.
Many of you will be familiar with our participation in the Santa Fun Run which has been a fantastic success from the first year we sponsored it; this year however the Gilroy & Brookes team voted to do something different and at a slightly warmer time of year!
They voted for the annual sponsored Walk for the Wards which took place on 7th June. Laurie Powell, Managing Partner believes this involvement makes a strong contribution to a good working environment. “It gives everyone the opportunity to get together outside of the office, to do something for the community and have some fun as well. I think more companies should get involved”.
Andrew Cox, Corporate Partnerships Manager at Phyllis Tuckwell Hospice agrees. “It takes many sectors of the community to make an event like this successful but gaining sponsorship is a critical first step. We run a wide range of events and are grateful to the continued involvement of Gilroy & Brookes who in total raised £1,067.16 this year”.
Gilroy & Brookes are proud to be involved with Phyllis Tuckwell. “30 years is a significant milestone in their history and an opportunity to reflect on what has been achieved and what is still to be achieved. Their vision for the next 30 years – and beyond – is to be able to give local patients and their families both an excellent service and a choice about where they’d like to be cared for by the Hospice. This is their 30:30 Vision and we will continue to support that”
If you believe your company could get involved in helping Phyllis Tuckwell to make a difference please contact Andrew Cox on 01252 729456 / andrew.cox@pth.org.uk
Accountants’ 70th Anniversary
Gilroy & Brookes has just celebrated its 70th anniversary with a reception for members of staff and clients at its offices in Windsor Way Aldershot.
Laurie Powell, Partner, said “We are proud to be one of the two longest established firms of chartered accountants in Aldershot,” He added. “Many firms have been swallowed up in mergers which have resulted in large impersonal firms who don’t really know their clients. The success of Gilroy & Brookes is due to the loyalty of clients who value our commitment to professional advice, accessibility and personal service – from Partners down; in some instances we are now acting for the second or third generation of local family businesses!”
It all began in 1938 when Mr Christopher Gilroy was admitted as an Associate of the Institute of Chartered Accountants and began to practice from Midland Bank Chambers in Wellington Street, Aldershot.
Mr Gilroy carried on working during the war despite being called up. “It was rumoured that he working on clients’ affairs in the barracks during training!” Mr Powell said.
The firm went through various name changes but has been Gilroy and Brookes since 1961 when it moved to Aldershot High Street. It moved to its present premises in InterPower House in Windsor Way, Aldershot in 2003.
The present partners are Brian Green, who started as an articled clerk and became a Partner in 1972 and Mr Powell, who joined in 1989 and became a Partner the following year. Mr. Powell added “More than 75% of the staff have been with the firm for over 10 years. Clients really appreciate this because of the depth of understanding of their business and the continuity this affords them”
Looking to the future Mr. Powell said “Our aim is to continue providing our clients with a wide range of cost-effective, professional services so that they can make business decisions confident in the knowledge that they have the best advice available at that time”.
Further details contact Laurie Powell on 01252 320446
or email laurie.powell@gilroyandbrookes.co.uk
And at Alton TEL: (01420) 82869/83426 FAX: (01420) 544934
Santa Fun Run
Thank you to all our clients who sponsored the Gilroy & Brookes team in the fourth Santa Fun Run held last December in Aldershot in support of the Phyllis Tuckwell Hospice.
Click here for more details
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