On Monday, George Osborne and Vince Cable announced a fundamental review of the steps all areas of Government are taking to promote the best conditions to encourage growth in the private sector.
It seems that every year the start of Christmas gets ever earlier and UK SMEs that have not launched their festive offers could be lagging behind their competitors; at least that’s the suggestion from moneysupermaket.com.
HMRC is set to increase its investigations into tax avoidance and contractors not operating via an umbrella company may wish to get advice from a specialist accountant to ensure that all their tax matters are in order.
Contractors could be better off as a result of George Osborne’s announcement that the income tax threshold will change. The REC said that temporary agency workers who only work for short periods will be especially delighted with the budget announcement.
The FSB had urged George Osborne to give small businesses time to implement any changes to the VAT rate and he did indeed do so in his budget speech yesterday.
The British Chamber of Commerce has warned George Osborne to tread carefully with his plans to increase taxes in today’s budget. UK umbrella companies will also be watching with interest.