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Leicestershire BUILDER Magazine • JANUARY 2017 • Tel: 01530 244069
Mr Alistair Clarke (c/o Agent: Tenacity Planning Consultants, The Rectory, 19 Main Street, South Croxton, Leics, LE7 3RJ) – Change of use of existing building to equestrian use, erection of a new equestrian building (242 sqm) and creation of a new access onto Ingarsby Road – at Long Meadow Farm, Ingarsby Road, Keyham, Leics. LE7 9JU. Mr & Mrs Michael & Gillian Howkins (c/o Agent: Rod Kilsby Partnership, Highbank, 3 High Street, Spratton, Northampton NN6 8HZ) – Outline application for the erection of 22 dwellings (revised scheme) – at The Stables, South Kilworth, North Kilworth, Leics. Davico Properties Ltd (c/o Agent: Thorne Architecture Ltd, The Creative Industries Centre, Wolverhampton Science Park, Glaisher Drive, Wolverhampton WV10 9TG) – Outline application for the erection of 8 bungalows – at land at Sutton Lane, Sutton in the Elms, Broughton Astley, Leics. Miss Gillian Wood (c/o Agent: Corporate Architecture Ltd, 1 Trimbush Way, Rockingham Road, Market Harborough, Leics. LE16 7XY) – Erection of 2 semi-detached dwellings and remodelling of associated parking – at land rear of The Fox & Hounds, Hallaton Road, Tugby, Leics. Gladman Developments Ltd (c/o: Gladman House, Alexandria Way, Congleton CW12 1LB) – Outline application for the erection of up to 50 dwellings with public open space, associated landscaping and sustainable drainage system – at land part of Upper Green Farm, Leicester Lane, Great Bowden, Leics. Mr Cedric Buckby (c/o Agent: Mrs Elizabeth Buckby, 41 Manor Road, Fleckney, Leics. LE8 8TN) – Extensions and alterations to existing hair salon and telephone exchange including increase in ridge height; side and front extensions to form three apartments, hair salon office/stock room and associated parking – at Mirage Hairdressers, 15 The Parade, Fleckney, Leics. LE8 8AY. Mr Bryan Drew (c/o Agent: Architects LE1, 38 Nelson Street, Leicester LE1 7BA) – Demolition of former industrial premises and erection of 5 dwellings – at Bindleys Yard, School Lane, Market Harborough, Leics. LE16 9DJ. Mr Sheldon Blackwell (c/o Agent: Peter Thompson Adt Ltd, Providence House, 49 Leicester Road, Broughton Astley, Leics. LE9 6QE) – Erection of one pair of semi-detached dwellings – at 38 Station Road, Dunton Bassett, Leics. LE17 5LQ.
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Businesses set for VAT windfall BUSINESSES that have had trouble claiming back preregistration VAT on their assets may now have a limited window in which to do so, according to a Leicestershirebased firm of chartered accountants.
Newby Castleman says that a recent VAT brief from Her Majesty’s Revenue & Customs (HMRC) could put hundreds of Leicestershire businesses in line for a rebate – provided that they claim back the money within four years of the overpayment. Traditionally, when registering for VAT businesses were able to claim back any VAT historically paid on their “fixed assets”, such as vehicles, tools or office equipment purchased up to Brent Goodwin, VAT manager four years beforehand, providing those at Newby Castleman assets were still owned at and used in the business at the time of registration. In 2011, HMRC amended their internal guidance, stating that the tax relief should only be effective from the point the business registered for VAT. In practice, this meant that if a fixed asset, such as a company vehicle, had depreciated in value since it was bought, the business could only claim back a portion of the VAT originally paid, in line with the asset’s drop in value. However, this amendment was only issued internally and HMRC’s new position was never made public. This led to inconsistencies, with some businesses being allowed to claim back the pre-registration VAT in full, whilst others were penalised. The HMRC brief issued last month sought to clarify its policy and has seen the taxman perform a U-turn, with all newly VAT-registered businesses now entitled to claim back VAT on their fixed assets in full. The four year restriction still applies, however – so businesses that filed their first VAT return in that period and were blocked from claiming the full tax relief now have a limited time in which to do so. Brent Goodwin, VAT manager at Newby Castleman, said: “Businesses that were only offered a portion of the tax relief can now put in a claim for the difference – and for small business who have just registered for VAT for the first time, that can be quite a significant amount of money. “Businesses affected by this change of stance by HMRC should take the appropriate steps to reclaim the VAT that was incorrectly denied to them. “They may also be due interest on the money owed to them, so it would be prudent for any business that has registered for VAT within the last few years to seek professional advice and clarification on whether they have overpaid VAT”.
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Terex announces sale of Coventry UK Compact Construction Business TEREX Corporation has announced that it has agreed to sell its Coventry U.K.-based compact construction business to a subsidiary of Groupe Mecalac S.A. Mecalac is a maker of a wide range of innovative compact construction equipment for urban, utility and railway construction sites. The Coventry compact construction business manufactures and sells backhoe loaders, site dumpers and compact compaction rollers. The sale is subject to customary closing conditions and is expected to be finalised in the first half of 2017. “We are pleased to enter into this agreement with Mecalac as they are a logical strategic buyer and have the resources and capability to further grow the business,” commented John L. Garrison, Terex President and Chief Executive Officer. “For Terex, the sale of the Coventry compact construction business represents continuing progress in our strategy to focus our portfolio on those product categories where Terex has a significant presence in the market and that can provide the greatest returns for our shareholders.” Gregg Horne, General Manager of the Coventry business, said: “We are pleased and excited about the opportunity to join the Mecalac family. They embrace our vision of market growth and product innovation for the Coventry products and share the same values in terms of quality and team working.” He added: “It will be very much business as usual for us and for our dealers and we are working towards a seamless transition during the first half of 2017.”