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THE BUDGET

After all the speculation, guesses, rumours and downright leaks, George Osborne's third budget was delivered on 21st March to one of the noisiest House of Commons. The convention used to be that the Chancellor was listened to in relative silence. Not any more. The Deputy Speaker needed to calm many Hon and Right Hon members who were getting very flustered about:

  • the 50% income tax rate being reduced to 45%
  • the freezing of age related allowances
  • the cap on some benefits and some tax reliefs
  • the reduction in corporation tax rate

There were many measures in the budget which might have a large or small impact on your tax liability. The Tax Facts pages are being redesigned to reflect the changes some of which only take effect in two years' time. If you need help understanding these changes or any other tax or accounting matter please get in touch as soon as possible.

Finding the right accountant or tax advisor can be a difficult process for small businesses. The fees charged by larger accountancy firms can be prohibitive and there is always the danger that those who run a small business will not get the individual attention they deserve.

At The Tax Practice we specialise in tax and accounting for you and your business, whether you be a sole trader, partnership or small company. We are also very experienced in assisting those just starting out in business who need a helping hand.

We always ensure that meetings are arranged at a time and place to suit you. We offer a personal service and reasonable fees - and, as a result, a large part of our new business comes from the recommendations of existing customers.

Please contact us for further information.


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