Classic question of tax savings
It may be better not to turn to Nottingham’s Hacker Young for tax advice (‘Taking Stock,’ 18 June) if Mike Carney believes his van will become tax-free in August.
No vehicle became tax-free under the 25-year rule until the end of the year in which it became 25, so it would never have happened in August.
But, more importantly, the last Budget scrapped the scheme! Only vehicles manufactured before 1973 remain exempt. So Mr Carney will have to look elsewhere for his #290 savings.
Simon Thorpe, Gerrards Cross, Bucks
Many classic car owners like myself (having a tax-exempt 1971 Morris Minor and a non-exempt 1973 Triumph Spitfire), feel this change in legislation is petty considering the amount of money it saves the Exchequer.
Most classic cars have a low annual mileage and their owners appreciate any cost saving.
Mike Jeffrey, FCCA, Enfield
…And I should know, at least my 43-year-old Bentley (1955 Bentley R Type), in daily use, qualifies.
Michael A Polus, FCA, FCCA, London N3
Ginger Group welcomes all
Your correspondent David M Hunt, council member of the English ICA, has raised some interesting points (‘Letters’, 21 May) about the unofficial Ginger Group of the English ICA. In particular, he asks why he has not been invited to join.
Mr Hunt has an excellent reputation for the work he has done for students and for members over many years. He is more than welcome to join the Ginger Group. But there is a one-off charge of #25 to cover administration expenses.
The Ginger Group formed to fight the proposed merger with CIMA. Once that war was won, we decided to continue to oppose the English ICA where we thought it appropriate.
We are joisting with the English ICA over the implementation of the Gerrard proposals. The institute keeps stressing how much it is trying to implement the Gerrard Report, while leading the members in exactly the opposite direction.
The Ginger Group scored a memorable victory at the agm by winning the motion to reduce the number of council members to 53 in accordance with Gerrard.
Other areas on which we are fighting, or intend to fight, include:
– Ensuring that members are given the opportunity to vote specifically on whether they wish optional papers to be included in the English ICA examinations.
– Obtaining support for a more equitable payment of fees, so that those with practising certificates pay according to turnover.
Under the present system, the Big Five pay the same amount as the smallest sole practitioner. The non-practising members should pay less, as should overseas members, pensioners and new members.
Jeff Wooller, founder of the Ginger Group, London WC1
What, no letterhead?
What has happened to the system for bank audit letters? On 19 June, I received two such letters (from NatWest and Barclays), both of which were for March year-ends and for which we had applied, giving the agreed 14 days’ notice.
The audit letter from Barclays is not even on a branch letterhead. Is the system about to collapse? Similar to the ‘returned cheques are no longer available except at great cost’ story?
Tony Taylor, Birmingham
After a seven-year saga, a result has been reached between Margaret May and CIMA over misconduct
ACCA and Morison KSi have signed a global Memorandum of Understanding (MOU) to raise accountancy profession standards
Top 25 firm HW Fisher & Co has acquired London firm Rhodes & Rhodes
Top Ten firm RSM has appointed Nick Blundell as its head of corporate tax in Birmingham