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Annual Investment Allowance 2011/2012

KEY OUTCOMES:

 

Let's get our priorities in order. Even more important than fuel!!

 

2011, the year for Capital Investment. Why?

 

Well, reasonably quietly, the Government will be making a huge difference to your business' ability to offset the capital investments against the taxable profits – from April 2012.

 

Currently, for the tax year 2011/12 your business has an A.I.A. (Annual Investment Allowance) of £100,000. This means that new asset acquisitions (trucks and vans qualify) you can offset 100% of the capital investment against your taxable profits.

 

It's a ‘use-it-or-lose-it' allowance. If not utilised, you can't carry it forward to the next financial year.

 

From April 2012, the A.I.A. is reducing by 75% to just £25,000 per annum!

 

**To put this in real terms**. If you purchase vans and trucks up to £100,000 this year AND next year; at a 40% Higher Rate tax, the difference in the tax saving will be £16,500:

 

·         2011        Tax saving                           =             £40,000 (100% Utilised A.I.A)

·         2012       Tax saving                           =             £23,500 (100% Utilised A.I.A)

 

Iveco wins the Dakar 2012

With a first, second and sixth place in the overall truck ranking, Iveco dominated the 33rd Dakar, the world's most important rally, where most of the European and Asian Truck OEMs participated.

 

The Petronas De Rooy Iveco team won the rally with the Dutchman Gerard De Rooy, driving an Iveco Powerstar, a vehicle produced and sold by Iveco in Australia.

The Iveco Powerstar was equipped with an FPT Industrial C13 engine, with more than 900 horsepower, and Magneti Marelli parts. Behind De Rooy, the other pilots of the team, Stacey and Biasion drove two Iveco Trakker Evolution 2s, also equipped with the same engine. The three vehicles, while adapted to the extreme conditions of the rally, were standard trucks optimised for best-in-class energy efficiency.

Iveco CEO, Alfredo Altavilla, commented: “The Iveco participation in the Dakar 2012 aimed to confirm once more the excellent reliability of the Iveco trucks and of the FPT Industrial engines. Winning the rally and ranking 3 trucks in the first 6 positions is an outstanding success which shows the efficiency, strength and safety of the Iveco Trakker and Powerstar, already considered by customers as the ideal solution for everyday use and for tougher challenges. My special thanks to the drivers and all the other team members for their commitment and dedication.”

For Iveco, the Dakar 2012 was a great opportunity to confirm the reliability of its products on the ground: each vehicle was put on trial in extreme conditions crossing three countries of South America. The race, which started on January 1, 2012 in Mar del Plata, crossed Argentina, Chile and Peru, covering 14 stages, for a total of 8,500 kilometres, around 4,200 of which were against the clock.

Train to Gain

10 employees from Kerr & Smith Cumnock were given the opportunity to brush up on their skills thanks to a new evening course at Kilmarnock College. Those who attended the basic and advanced welding courses were able to develop new skills and refresh existing skills.

 

The new course will now be used as part of the induction process and ongoing staff training programme here at Kerr & Smith.

 

Douglas Merry, Training and Personnel Development Project Advisor at Kerr & Smith said

“The course was welcomed by all staff involved and has been extremely beneficial to support our employee's roles within the company.  The course was delivered by Alan Middleton and it was first class as he tailored the course to suit the needs of the individuals as well as our business.”

DELIGHTED DEBBIE PICKS UP HER STAR PRIZE

DELIGHTED Debbie Grogan officially took ownership of a fabulous Vauxhall Corsa LimIted Edition on Friday  – the star prize in this year's William Hill Ayr Gold Cup Ladies Day at Ayr Racecourse.

 

Debbie, from Sheffield, won the car when Coolminx crossed the line in front in the William Hill Ayr Bronze Cup last month and travelled to Ayr to pick up her prize and drive it home.

 

She received the fantastic prize from William Smith of Kerr & Smith who sponsor the Ladies Day first prize and was still coming to terms with her big win.

 

She said : “I had a fabulous day last month when I won the car – I still can't believe it and on the day I thought my horse had only finished second. The photo finish photograph now has pride of my place in my house – it proves I won William Hill Ayr Gold Cup Ladies Day Final at Ayr !

 

“Now I can't wait to show the car off to all my friends and family back home in Sheffield – its a real stunner and I'm so proud.”

 

The William Hill Ayr Gold Cup Ladies Day is unique among ladies competitions at racecourses with ladies winning bronze coins at various race meetings over the season which then entitles them to  a place in the final where they draw the name of a horse running in the Bronze Cup. The lady who has the winning horse drives off in the car !

 

This was the fourth year the prize was sponsored by Kerr & Smith who have garages in Cumnock, Ayr and Glasgow.

 

Tags: Kerr & Smith News and Events
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