The 2013 WSM Budget Breakfast Seminar
Tim Good held attendees spellbound this morning with a wide ranging budget presentation covering everything from the changes in Inheritance tax rules relating to non-dom spouses to the tax breaks available on the £120,000 Tesla electric car. With his usual flair, Tim encouraged participation from over 100 clients and local professionals who enjoyed a full Royal Wimbledon breakfast whilst being updated on some of the detailed proposals contained in the chancellor’s 2013 budget speech.
Although lacking in headline grabbing initiatives, George Osbourne’s tax proposals provided some interesting material for both tax payers, their businesses and the professional tax planning community. Tim spent time clarifying the changes ahead for families and employers around the childcare voucher scheme, he highlighted to £2,000 NI bonus for all employers in April 2014 and praised the reduced levels and simplified rules regarding corporation tax.
Looking to the future the most interesting announcement surrounded the consultation on legislation to counter the use of Limited Liability Partnerships to disguise employment relationships and to artificially allocate profits/losses to secure tax advantages. We eagerly await the consultation paper to be able to assess the impact of any new legislation in this area.