EMERGENCY BUDGET 2010 – TOUGH BUT FAIR?

After much hype alluding to the severity of the measures to be included in the Emergency Budget, Mr Osborne delivered a mixture of changes for businesses and individuals, which were not all quite as tough as had been expected.

The main headline, even though widely anticipated, was the increase in VAT to 20% in January 2011. This will hurt both the pockets of consumers and trade of businesses. At least this time we have 6 months to prepare for this change. With the impact of the recession still rippling through the business sector, it will be another ‘interesting‘ year!

If you would like to discuss the tax implications of the budget or how it affects your business, please do call us – we would welcome the opportunity to talk you through it.