Budget 2016

The Chancellor announced his 2016 Budget on 16 March 2016.

Please click here. to view our summary of George Osborne’s Budget.

2014 Autumn Statement

The Chancellor announced the latest budget on 3 December 2014, with ‘Google Tax’ and Stamp Duty Land Tax reform on residential property making the headlines.

For an indepth look at how the statement will effect you, please click here.

Budget 2014 – update

The Chancellor announced his 2014 Budget on 19 March 2014, tailor made for all the “makers, doers and savers”. Please click here to view our summary of the main highlights of the George Osborne’s 5th Budget.

2013 Autumn Statement

The Chancellor announced the latest budget on 5 December 2013, insisting that the whilst his plan was working, there was still work to be done. Growth figures are encouraging, but the underlying issues of low productivity remain.

For an indepth look at how the statement will effect you, please click here.

2012 Autumn Statement

The content of the Chancellor’s statement was slightly overshadowed by the further extension of his own fiscal deadlines, which points towards a more prolonged slump in the general economy. However, amidst the doom and gloom were some encouraging and positive changes, particularly in relation to capital allowances and corporation tax. For an indepth look at how the statement will effect you, please click here.

Budget 2012 – in detail

This year’s Budget announcement contained very few genuine surprises. The extent of leaks meant that SDLT anti avoidance measures, reduction in the top rate of income tax (50% to 45%), and increased personal tax allowances were announced as expected.

However, there are a couple of highlights;

The new R&D tax credit (‘Above the line’), and Creative Industries tax credit are both very welcome, but are subject to further consultation which will undoubtedly impact on their design and implementation.

The Seed Enterprise Investment Scheme, although previously announced, takes effect from April 2012. Given the relatively small thresholds for both investors and companies, doubts remain over its effectiveness to stimulate serious investment within the SME market.

The Enterprise Management Incentive Scheme (EMI) received some innovative changes. Market value limits for granting options to employees are set to increase to £250,000 per annum (previously £125,000).

Disposal of EMI shares will now attract Entrepreneur’s relief (Capital gain taxed at 10%)……all subject to EU State aid approval. We hope these measures won’t suffer the same fate as EIS / VCT funding limits (which were reduced from £10m to £5m after input from the EU).

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Budget 2012 – update

The most leaked Budget in living memory still managed to provide some surprises…..including a suspect reference to Wallace & Gromit……..

Budget 2011 – update

The Chancellor announced some attractive changes for businesses on 23 March 2011. The Treasury also undertook to publish their consideration of a special corporation tax rate for Northern Ireland. We’ve a summary of the main changes.

Holiday time for startups

The Holdiay Scheme for Employers’ National Insurance Contributions was announced amid much fanfare in the emergency budget this year. The scheme was finally launched in September 2010 – we take a look at what it will mean for startups in Northern Ireland…….

Research & Development – the forgotten tax relief

R&D tax relief is often overlooked, due to its technical complexities. It can provide a great boost to startup companies by minimising corporation tax and generating tax refunds……

The emergency budget 2010

Find out the main changes of the emergency budget announced on 23 June 2010. The Chancellor described the budget as “tough, but fair” – it will certainly be viewed as tough, despite the cuts in corporation tax.

Tax Health Plan

HM Revenue & Customs have announced their intention to target professionals, starting with Doctors and Dentists.

Claiming expenses – the clock is ticking

If you’ve incurred business expenses whilst in employment, and not received a re-imbursement from your employer, you may be able to reclaim these from HM Revenue & Customs. However, the deadlines are changing…….