"This is a big Budget for a country with big ambitions." George Osborne
The first ‘fully Conservative’ Budget in 19 years has finally been delivered. I am not trying to give a party political comment, but I have one important question “What does the Budget mean for small businesses?”
Well, let’s start with the likelihood of another tsunami of information to add to the hundreds of pages of rules and regulations that currently exist. And not forgetting an already complicated tax system which the government promises to simplify at every given turn – but is it any easier? I don’t think so. Do you really understand the impact of the new dividend policy, the capping of interest for residential investments and so on?
Let me repeat, I am not commenting on the political motivation behind the measures, I am merely talking about the technical side of the Budget. Unfortunately tax is now so complicated that even we as accountants despair.
But on that note if it makes your life slightly easier I invite you to take a look at the Budget summary put together by AIMS to help those of you who don’t have the time to sift through the rules and regulations. Have a look for yourself; you are under no obligation to do anything else - www.aims.co.uk/importantnews.
AIMS is good for you and we can guarantee that if you like the way we think – you will like the way we work.
AIMS Accountants for Business are the largest independent association of professionally qualified accountants in the UK specialising in accountancy for small, local and independent businesses. AIMS are no ordinary accountants and we are more than just number crunchers!