Chancellor George Osborne presented this year’s Budget at a time of economic and political uncertainty, with the latest figures from the Office for Budget Responsibility confirming recent reports of a slowdown in the UK economy, and amid ongoing debate over the implications of Britain’s potential exit from the EU.
The Chancellor announced a number of significant measures for businesses and individuals, including cuts to corporation tax and capital gains tax, and significant reforms to the business rates regime. Also unveiled in the 2016 Budget was a new Lifetime ISA for the under-40s, together with a future sugar levy on the soft drinks industry.
Our Budget Report provides an overview of the key announcements from the Chancellor’s speech. However, it also looks beyond the headline-grabbing measures and offers specific detail on the less-publicised changes that may impact on your business or your personal finances.
In addition, throughout the Report you will find useful tips and ideas for effective tax and financial planning, as well as a handy 2016/17 Tax Calendar.
We are here to help you with any tax and financial queries that you may have. Our team can supply you with accurate, personalised advice and support, helping to maximise the profitability of your business and minimise your tax liability.
If you would like more detailed one-to-one advide on any of the issues raised by the Budget, please do call us on 01743 241281.