Christmas comes but once a year – shame the same can’t be said of spending reviews.
While playing Santa for some, George Osborne delivered sombre news for businesses looking to pay less tax.
His Autumn Statement reminded firms of the role they play in helping to put Britain back on its feet during a period of global slowdown. But, like the Ghost of Christmas Past, he sounded a death-knell for those found guilty of tax evasion – with no less than 16 measures under the headings of ‘Tax evasion and compliance.’
Meanwhile buy-to-let landlords will be hit with a 3% surcharge on stamp duty and pensioners who spend time out of the country will not benefit from the cash boost to the state pension. With new prisons to build and the HMRC’s digital revamp to fund, the money clearly needs to be clawed back from somewhere.
The Chancellor did however, deliver some gift-wrapped news for families – a U-turn on plans to cut tax credits, increased free childcare hours and incentives to build more affordable homes.
There’s a lot to take in and at Barringtons we have specialists who can shed light on all these issues and more.
In summary it’s our mission to support businesses working to grow profit. That includes legitimate accounting methods to help you pay less tax.
Initial consultations are free, so please do recommend us to anyone needing specialist advice.
As we approach Christmas, may I take this opportunity to wish the best of the season to all our clients and their families.
Good health and happiness at Christmas and in 2016!