Seminar sheds light on summer Budget

There has been no shortage of press analysis of Chancellor George Osborne’s 8 July summer Budget, focusing on everything from the new national living wage that will take effect from April 2016 to protection of family homes from inheritance tax.

But as with every Budget, the devil is in the detail. With the Budget document running to 123 pages – plus various papers on specific measures – there’s plenty of detail to explore.

Pinning down exactly what the Budget means for you and your business can be challenging, which is why Moore Thompson will be holding a free Budget seminar on Thursday, 3 September, at Spalding’s South Holland Centre.

Tax partner Tim Martin, who will speak at the event, said: “The way that Budget announcements are reported does not always give the full picture. A media summary of a key measure may be correct as far as it goes, but drill down and there could well be more to it.

“Our seminar will explore key issues arising from the Budget and explain what they mean in real life. For example, business owners will want to know about issues like future changes to the corporation tax rate, restrictions on tax relief for the value of goodwill in business disposals and acquisitions and whether providing company cars is still cost-effective.

“Businesses will also be affected by changes to employment costs, including the higher employment allowance discount on employer national insurance.

“From a personal tax perspective, there have been significant changes to the taxation of dividend income that will affect basic, higher and additional rate taxpayers. Tax relief on pensions for higher earners has been targeted and the new main residence nil-rate band has inheritance tax implications for people with children and grandchildren to leave a family home too, as well as those who do not.

“The Budget also contained some significant announcements for residential landlords, including reform of the wear and tear allowance for furnishings and changes to mortgage interest tax relief.

“Our seminar will cut through the HM Treasury jargon to make it clear exactly what these measures will mean for the pound in your pocket and your business bottom line.”

The seminar takes place from 4.30pm on 3 September in the Function Suite of the South Holland Centre. Please contact Louise Bacon at louise@mooret.co.uk or 01775 711333 if you would like to book your place or would like to receive details of all our seminars and events.