Tax changes and ecomomic plans: A pre budget comment

Tax changes and ecomomic plans: A pre budget comment

“I expect the headlines tomorrow will be about the cuts to spending and the long term economic plan"

"But with regard to predictions for specific measures and sectors, I think the property sector may be bracing itself - although the Chancellor will have to tread carefully to avoid damaging the flow of new houses.

I expect there will be some positive news for businesses in terms of confirming the freeze on corporation tax rates, announcing the rate of the Annual Investment Allowance for 2016 and hopefully reviving the simplification measures for employment taxes that were dropped before the election.

For individuals, I’m expecting announcements about Inheritance Tax, personal tax allowances and income bandings and there may be measures regarding the reliefs for investing in business.”

Zoe Roberts
Tax Partner at BHP Chartered Accountants