The Chancellor’s Budget is one of the most important events in the financial calendar and we were so pleased to have a Budget Breakfast in person again at long last! Over 500 attendees joined us in person and online to hear about the latest Budget announcements and what the government has planned to help businesses succeed, protect people’s jobs and income and balance the nation’s finances. If you weren’t able to attend, or would like another look at the presentations, please click on the links below to listen to these speeches. To download the presentation pack please click here.
Jason Fayers, Managing Partner introduces the event, reminding people that the last time we were together in the same room for a Budget Breakfast was 2019! He outlines some of the current economic challenges in the light of the slightly stronger fiscal outlook for the UK.
Luke Morris, Corporate Finance Partner takes an incisive look at the bigger economic picture, placing the Chancellor’s statements within the wider context of the UK fiscal landscape, and questioning whether Jeremy Hunt’s strategies will really make a material difference to the Government’s aims of halving inflation, reducing public debt and boosting economic growth.
Graham Doubtfire, Private Client Tax Partner discusses the concept of progressive taxation, and highlights the planning points for financial planning. He also looks at the Chancellor’s announcements on the annual and lifetime pension allowances, and what they may mean for savers. He also uncovers some tax traps for the unwary, such the hidden risks within taxation under PAYE.
Sam Stent, Senior Tax Adviser, examines the current situation with Capital Gains Tax, including when to use capital losses and crystallising gains. She also explains the forthcoming changes to the taxation year dates (Basis Period Reform) for the self-employed and partnerships. If you are an unincorporated business without a 31 March – 5 April year end, this will affect you!
Chris George, Tax Advisory Director, runs through the current regulations regarding tax reliefs, with a particular emphasis on Research & Development with the latest information and examples on qualifying expenditure and reporting requirements.
Jason Fayers, Tax Partner focuses on the latest regulations around Corporation Tax rates, changes to Associated Companies and a look at Profit Extraction together with the advantages and disadvantages of taking a salary versus dividend payments.
Jason Fayers, Managing Partner closes the Scrutton Bland 2023 Budget Breakfast, reminding attendees of the main points of the Chancellor’s Budget, and asking whether the announcements will be enough to make a difference to our region’s economic growth.