There were increases I our Person Allowances and cuts in the Corporation tax rate. Vat registration and de-registration levels changed and we have cuts in business rates and Capital Gains Tax. We also learned that Auto Enrolment was not going away and we will have to keep our records digitally, but they didn’t tell us what that meant except that we learned that using a spreadsheet was not acceptable.
There is to be a tax on sugary drinks and our kids will have to go to an academy in the future and there was no increase in fuel tax.
How much actually relates to your business and your personal circumstances is dependent on all manner of things so the best advice is to keep on running your business as best you can and if you have an accountant acting they will no doubt be in touch with you to run over anything of magnitude.
What we learned from the Budget is that Budgets are for Accountants and Financial Services it’s their line of work, it’s what they do. If anything in the budget concerns you that’s what they are there for, get in touch and get the answers you need.
It is all about “Horses for Courses” Accountants can’t do your job so why try to do theirs?