What's the issue?
Capital expenditure has been cut back across the board, but sometimes you don't have a choice. Critical equipment does not respect the economy, and things simply break down or wear out.

Or, perhaps, you are in a position to make careful investment in new technology in a market that is producing increasingly attractive deals for those that have funds to buy.

How can we help?
Her Majesty's Revenue & Customs (HMRC) may be prepared to contribute towards the cost, either:

• By allowing a full write-off of the cost against tax, cutting the cost by 21-28%; or
• In a couple of cases, by giving you money back for making the investment.

Cutting the cost
The UK Government has been steadily expanding the range of assets which qualify for 100% capital allowances in the year of purchase. The 100% capital allowances enable a business to recover the entire cost in the year of purchase - an effective discount of up to 28% for tax paying companies.

• The assets that qualify for this include:
• energy-saving equipment
• low CO2 cars
• environmentally beneficial equipment
• equipment used in carrying out qualifying R&D
• business premises renovation

Cashback from HMRC
In two cases, HMRC will actually pay back money to loss-making small and medium-sized companies which incur costs in two areas: on research and development, and on energy-saving or environmentally beneficial equipment.

Why choose Wragge & Co?
Our tax experts can help you decide whether these – and other – opportunities are right for your business, and work with you to put the best opportunities for your business in place.

Looking to extract value from your property portfolio?
Sale and leaseback deals enable companies to release capital without affecting day-to-day operations. Deals involving multi-property portfolios need dedicated lawyers able to deliver within your timescale. Our Real Estate group has helped major corporates realise hundreds of millions of pounds from their property assets.

What about commercial contracts?
Our commercial experts have devised a three-tier, fixed-price contract review. This service gives clients an overview of their contractual position, identifies problems and suggests solutions. It's perfect for clients looking for a focused review with cost certainty.

What else can you offer?
Make sure your business is making the most of its intangible assets. Our intellectual property experts offer a brand audit service to check whether clients' IP portfolios are commercially relevant to their business, effective and appropriately protected.

What's the issue?
Central and local government bodies continue to outsource services to private sector contractors. Outsourcing bodies must ensure they comply with their "Fair Deal" obligations and that the pension rights of transferring staff are adequately protected. Contractors need to understand and manage the pension risk they inherit from such exercises. Local authorities and contractors alike will have to respond to the revised admitted body "pass-through" guidance expected in 2009.

Administering Authorities of the Local Government Pension Scheme funds will remain under intense scrutiny in 2009 and their governance procedures must be robust. In particular, Administering Authorities must respond to the revised Investment Regulations due in the summer.

How can we help?
Wragge & Co's six-lawyer Public Sector Pensions team specialises in public sector pension issues for local and central government bodies and private sector contractors. Mike Woodall, formerly pensions manager of the £7 billion West Midlands Pension Fund, joined us in 2008. His role as public sector pensions strategist adds valuable insight into the practical problems our clients face.

Why choose Wragge & Co?
With a dedicated public sector pensions practice, clients can be confident they are receiving top-quality advice and practical solutions. This provides a level of reassurance and peace of mind.