Connect with us

Invest

Social Enterprise UK writes to the Chancellor as Government takes U-turn on tax relief for community energy companies

Published

on

The Chief Executive of Social Enterprise UK, Peter Holbrook CBE, has today written to the Chancellor George Osborne, expressing concern at the Government’s decision to exclude social enterprises delivering community energy schemes from qualifying for Social Investment Tax Relief (SITR).

Peter Holbrook CBE, said: “This U-turn comes as an unwelcome surprise for our many members delivering community energy schemes. In the Autumn Statement 2014 it was announced that all community energy generation undertaken by qualifying organisations would be eligible for SITR.

“The decision to change policy this late in the day has serious consequences for social enterprises delivering community energy schemes and their ability to secure investment in the future. The U-turn is baffling when the Government has been so supportive of growing Britain’s social enterprise movement.

“A plural energy market with providers large and small will only be achieved if the Government creates an environment that supports bottom up, grass-roots energy initiatives. There is a growing community energy industry in the UK but other European countries are way ahead. The UK risks being left behind.”

The letter [in full below] asks that the decision be urgently reconsidered. The U-turn came to light during the Finance Bill’s third reading earlier this week. Community energy was added to a list of activities excluded from receiving Seed Enterprise Investment Scheme (SEIS), Enterprise Investment Scheme (EIS) and SITR tax relief.

28 October 2015

Dear Chancellor,

I was very disappointed to learn that the Government intends to exclude social enterprises delivering community energy schemes which benefit from subsidised energy from qualifying for Social Investment Tax Relief (SITR) when SITR is expanded. This is an unwelcome change of policy: the Autumn Statement 2014 announced that all community energy generation undertaken by qualifying organisations would be eligible for SITR with effect from the date of the expansion of SITR. It is the antithesis of a ‘smooth transition’ which was promised by the Financial Secretary.

Given the Conservative Manifesto’s very clear indication that a Conservative Government would ‘give more people the power and support to…start their own social enterprise’, I find the announcement a surprising one and one which is likely to prevent schemes like the Low Carbon Hub’s Eynsham Village Hall in Witney from getting off the ground.

Much time, effort and money by many has gone into setting up businesses on the basis that Social Investment Tax Relief will continue largely unchanged and now many companies and communities face having the rug pulled from under their feet. Business investment relies on certainty and the decision to bring this measure into effect on 30 November will affect a number of schemes across the country.

Hitherto, the Conservative Government has made some positive strides to live up to its claim ‘to be the party of social enterprises’. Community energy organisations have been a success story. They are popular, they empower communities, they tackle fuel poverty, they stimulate local economies, provide jobs and they increase diversity in an all too uncompetitive energy market. The decision is therefore a curious one.

I genuinely hope that the decision to end the Government’s support for these organisations will be urgently reconsidered and that new measures and commitments in the Comprehensive Spending Review provide increased support for people and communities starting their own social enterprises, including community owned energy schemes.

Yours sincerely

Peter Holbrook CBE, Chief Executive, Social Enterprise UK

Energy

Responsible Energy Investments Could Solve Retirement Funding Crisis

Published

on

By

Energy Investments
Shutterstock / By Sergey Nivens | https://www.shutterstock.com/g/nivens

Retiring baby-boomers are facing a retirement cliff, at the same time as mother nature unleashes her fury with devastating storms tied to the impact of global warming. There could be a unique solution to the challenges associated with climate change – investments in clean energy from retirement funds.

Financial savings play a very important role in everyone’s life and one must start planning for it as soon as possible. It’s shocking how quickly seniors can burn through their nest egg – leaving many wondering, “How long your retirement savings will last?

Let’s take a closer look at how seniors can take baby steps on the path to retiring with dignity, while helping to clean up our environment.

Tip #1: Focus & Determination

Like in other work, it is very important to focus and be determined. If retirement is around the corner, then make sure to start putting some money away for retirement. No one can ever achieve anything without dedication and focus – whether it’s saving the planet, or saving for retirement.

Tip #2: Minimize Spending

One of the most important things that you need to do is to minimize your expenditures. Reducing consumption is good for the planet too!

Tip #3: Visualize Your Goal

You can achieve more if you have a clearly defined goal in life. This about how your money can be used to better the planet – imagine cleaner air, water and a healthier environment to leave to your grandchildren.

Investing in Clean Energy

One of the hottest and most popular industries for investment today is the energy market – the trading of energy commodities. Clean energy commodities are traded alongside dirty energy supplies. You might be surprised to learn that clean energy is becoming much more competitive.

With green biz becoming more popular, it is quickly becoming a powerful tool for diversified retirement investing.

The Future of Green Biz

As far as the future is concerned, energy businesses are going to continue getting bigger and better. There are many leading energy companies in the market that already have very high stock prices, yet people are continuing to investing in them.

Green initiatives are impacting every industry. Go Green campaigns are a PR staple of every modern brand. For the energy-sector in the US, solar energy investments are considered to be the most accessible form of clean energy investment. Though investing in any energy business comes with some risks, the demand for energy isn’t going anywhere.

In conclusion, if you want to start saving for your retirement, then clean energy stocks and commodity trading are some of the best options for wallets and the planet. Investing in clean energy products, like solar power, is a more long-term investment. It’s quite stable and comes with a significant profit margin. And it’s amazing for the planet!

Continue Reading

Invest

How to make a sustainable living out of Forex Trading?

Published

on

By

sustainable forex trading
Shutterstock Licensed Photo - By Robert Kneschke | https://www.shutterstock.com/g/robertkneschke

There are two different types of forex trading in general: the profitable one and the not so profitable one. Everyone wants good profits at the end of the day, but unfortunately a good number of traders are burdened with the huge losses at the end of their forex careers. Many newbies run the other way around when they hear about forex trading due to heavy losses in their initial period. Of course, you would have heard about all those success stories, in your friends’ circle or on the internet. However, if you are looking forward to replicate those success stories, you need get yourself ready before that.

In this article, we will discuss the six essential skills that are needed to earn some profits from trading foreign currencies and make a sustainable living out of it.

1. Limit your risk ceiling

When you start with forex, you should try to define limits. Try to create a balanced scorecard that defines your personality with regards to various parameters such as your strengths, weaknesses, behaviors, and ability to take risks. It is essential that you list your financial goals before you start with forex trading.

2. Learn about leverage ratio and account type

When you start, brokers will suggest different forex trading accounts that might take you for a whirl if you aren’t prepared. Each forex trading account has its own pros and cons. It is essential that you engage with your broker to create a mini trading account so that you will be able to warm up on your forex trading skills in a low risk environment.

3. Start small

While starting out, some investors rush to have multiple currency pairs without doing proper research on them beforehand. It is very important have you understand the nature and volatility of a currency before you start trading a pair. Every single foreign currency is like a market onto itself. It is therefore important that you take the time to study about the country before forming pairs to understand the volatility of the currency. By using forex trading platforms such as ETX Capital, you can take informed decisions easily.

4. Learn to control emotions

A forex trader should never take any decisions on the spur of the moment based on emotions and should be as rational as he can. Controlling your impulses is the key to becoming a great forex trader.

5. Automate your processes

I am not suggesting you to rely completely on forex robots and trade copiers, but make use of the latest automation tech to execute transactions faster than ever before. Make use of automation features such as stop loss, price options etc. to make the most out of the exciting opportunities.

6. Keep it simple.

Not everyone can be a genius economist, mathematician and a trader, bundled into one. Forex trading is not a complex subject, you only need to arm yourself with positive thinking, and set yourself clear and realistic goals.

Conclusion

I hope this article was useful for you to learn about the key reasons why online forex trading is a good investment and how you can earn money through it. If you have any doubts with regards to this, let us know through the comments and we will be glad to help you out. If you have any suggestions regarding how we can improve the article, let us know them through the comments as well for us to improve.

Though it’s a reliable source of income, you will have to educate yourself properly before you start investing. It is important that you take the time to understand why things are the way they are before you jump all in and start making your first big bucks. All the best for your future ventures and keep coming for more interesting and useful articles.

Continue Reading
Advertisement

Facebook

Trending