What does the Chancellor’s red box hold in store?

As Budget Day draws closer, there is plenty of speculation regarding the Spring Budget.

On 16th March, the wait will be over as the Chancellor poses in front of the assembled media, holding the famous red budget box aloft, before making his journey to the House of Commons to deliver his Government’s latest Budget.

The budget box, like all ministerial boxes, has changed little since the 1860s. Constructed of yellow pine and covered in red-stained ram’s leather, this innocuous looking attaché case is also bomb proof and lead-lined – the latter a security measure meant to ensure that the box sank to the bottom of the Thames, its secrets intact, in the event of capture.

But enough of the history lesson; most people will want to know what the future holds, how the pound in our pocket will be affected and whether businesses in our region will be winners or losers.

If the latest rumours and conjecture are to be believed, the Chancellor may be preparing to make drastic changes to pensions, which could see a revolution even greater than the rules brought in two year ago.

In last July’s Budget there were hints of things to come, with the Chancellor stating that a consultation would investigate whether wholesale changes to the pension system were needed, citing concerns about the fairness of handing out billions in tax relief largely to better-off savers.

Rarely has there been a Budget that threatens to alter so drastically the future retirement wealth of the nation.

To cut through the jargon and make sense of whatever changes the Chancellor announces, Moore Thompson will be hosting a free Budget Seminar in the Function Suite, at the South Holland Centre in Spalding on 17th March.

Introduced by our Managing Partner Mark Hildred, our seminar will feature Tax Partner Tim Martin.

Tim will give an expert insight into a range of significant announcements made in the
Spring 2016 Budget, along with the implications of previous announcements which
will be included in the 2016 Finance Act, including:

  • business tax
    • capital allowances and the annual investment allowance
    • changes to the employment allowance
    • corporation tax
    • national living wage implementation
  • personal tax
    • inheritance tax
    • dividend tax
    • pensions including the pensions tax relief decision
  • Landlords
    • changes to Rental Property Tax

To reserve your place at this seminar which starts at 4.30pm on 17th March, please contact Louise Bacon at louise@mooret.co.uk or 01775 711333.