This week we saw what can only be described as a “pre budget warning” from the Chancellor. Seen by many as a warning that the budget later this month is not going to be popular. Based on our liaisons with clients that has caused some panic in the business community and rightly so. As business owners we are more exposed to budgetary changes due to our exposure to both personal and business taxations as well as our dependence on a buoyant economy to trade in.
While it is natural to be concerned, personally I try not to go in for blind panic about whether income tax may go up or whether or not the threshold may come down. As business owners, and I think particularly as accountants we work best from known cervantites so my advice is try and wait for the full budget on the 26th and at AB Accountancy we will be quick to update affected clients and post on all our channels including here.