UK government’s latest budget is set to benefit shipping and aviation sectors, according to one accountant and industry trade group. In the latest budget, the government decided not to replace air passenger duty with per-plan tax, which would have meant taxes for freighter operators. Last year, IFW spearheaded a campaign protesting at the proposal, which the government has concluded would be illegal under international law.

The Freight Transport Association (FTA) said that replacement of air passenger duty would have jeopardised UK’s competitiveness as a place to do business. FTA Head of Supply Chain Policy Christopher Snelling said, “Air freight is hugely important to the UK’s logistics industry. By value alone it accounts for a quarter of all imported goods moved in the UK. Replacing air passenger duty in this way would only have served to push business away from our airports and towards those on the Continent, while saving nothing in emissions.”

Meanwhile, accountant and shipping adviser Moore Stephens said that the Budget appeared to be good news for shipping “in that the government proposes not to tax foreign income or capital remitted to the UK for the purposes of commercial investment in UK businesses”. This is good news for several non-UK shipping companies that invest in UK based businesses. Moore Stephens also said the budget included a change in the rate of capital allowances on ships that are leased to tonnage tax companies.

Under a new provision, a UK company operating through a foreign branch can apply to exempt the profits of the foreign branches from UK corporation tax. Finally, the budget also announced that the rate of corporation tax will be reduced by 1% from April, to 26%, with the pledge that by 2014, it will be 23%. With these developments, investing in the shipping industry in UK can be highly rewarding. Companies like Pacific Tycoon can help investors in buying and leasing shipping containers. Pacific Tycoon offers high yield opportunities by buying and leasing shipping containers.

About Pacific Tycoon
Pacific Tycoon is a container management firm that helps investors buy containers and then lease them to Pacific Tycoon. Container owners who leased their containers to Pacific Tycoon made over 30% returns on investment (ROI) in 2010. Get excellent stable and reliable returns with Pacific Tycoon. For more information please browse through www.pacifictycoon.com.