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Budget to build a global Britain

Last updated on December 1st, 2020 at 09:13 am

Chancellor Philip Hammond delivered his bullish first – and last – spring Budget against the backdrop of Brexit and an economy that continues to confound the commentators with robust growth.

“We are building the foundations of a stronger, fairer, more global Britain,” he told a noisy House of Commons on International Women’s Day – a fact that Mr Hammond alluded to with news that a higher proportion of women are in employment than ever before. (more…)

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Autumn Statement: VAT – Flat rate inflated?

Last updated on December 22nd, 2016 at 02:42 pm

Article by Greg Mayne, our Director of indirect tax and VAT

Many smaller businesses benefit from the simplification and tax advantage that comes with using the VAT Flat Rate Scheme for small businesses. By way of a memory jogger this scheme applies to businesses with a taxable turnover of £150,000 or less, and allows the business to pay to HMRC a percentage of their income rather than the amount of VAT collected from customers. The ‘trade off’ for this is that VAT incurred on expenditure cannot
be recovered unless it is for a single capital asset of more than £2,000. (more…)

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Download Your Autumn Statement Summary

Last updated on December 22nd, 2016 at 02:43 pm

CLICK HERE to download our Autumn Statement summary which we have put together as a guide for you to get to grips with the key announcements. Alternatively, if you have any queries or think you may be affected by anything included in the Autumn Statement, please don’t hesitate to get touch.

autumn-statement-2016 (more…)

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Chancellor confirms cuts to Corporation Tax in ‘final’ Autumn Statement

Last updated on December 1st, 2020 at 09:14 am

Resilience, commitment and match-fit for Brexit – these were the watchwords for Philip Hammond as the new chancellor delivered his first – and last – Autumn Statement to a packed House of Commons.

In a largely upbeat Statement, Mr Hammond blended a more humorous approach than his predecessor with an economic insight that were a breath of fresh air. He also said this would be the last Autumn Statement, with the Budget moving to Autumn and a new Spring Statement. (more…)

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New Chancellor looks to restore confidence

Last updated on January 19th, 2021 at 02:36 pm

Britain’s new chancellor, Philip Hammond has said he will do whatever is necessary to restore confidence in the economy after the Brexit vote, according to Reuters.

In his first public comments since succeeding George Osborne as chancellor of the Exchequer, Hammond praised Bank of England Governor Mark Carney and said he would take decisions over the summer before outlining his tax and spending plans. (more…)

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Osborne warns of emergency budget if ‘Leave’ win

Last updated on December 1st, 2020 at 09:15 am

Finance minister George Osborne has said he would introduce an emergency budget if Britain voted to leave the European Union – but 57 of his own Conservative Party’s lawmakers said they would block his spending cuts and tax hikes.

According to Reuters, the escalation in the ruling party’s internal war over the EU raised the prospect of a government unable to operate normally in the event of a victory for “Leave” in the June 23 referendum on whether to stay in the bloc. (more…)

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Budget 2016: key details

Last updated on September 12th, 2016 at 03:39 pm

The Chancellor’s ‘sugar tax’ might have grabbed all the headlines for his 2016 Budget, but did his other measures make sweet reading?

Some of the key Budget measures included: (more…)

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Budget 2016: ‘a Budget for small businesses’

Last updated on September 12th, 2016 at 03:38 pm

George Osborne may have been labelled the “lucky chancellor” in his November statement, but declaring “Britain is open for business” the watchword for Mr Osborne’s eight Budget would be ‘bullish’. (more…)

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Budget Coverage 2015

Last updated on December 1st, 2020 at 09:16 am

George Osborne delivered his sixth Budget on Wednesday 18 March to a packed audience at the House of Commons. (more…)

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Autumn Statement: devil is in the detail

Last updated on December 1st, 2020 at 09:21 am

The devil is in the detail – or so they say. As economists pore over the finer points of the 2015 Autumn Statement, business leaders are calling the new apprenticeship levy a “sting in the tail” for employers. (more…)

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