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A budget without surprises

Burgis & Bullock Chartered Accountants in partnership with the Coventry and Warwickshire Business Festival hosted two Budget seminars last week. 

Businesses across Coventry and Warwickshire met at Stratford and Coventry to listen to the Budget summaries which covered the key tax changes announced in the Chancellor’s speech.

The general themes were around Stamp Duty Land Tax, freezing of VAT registration threshold at £85,000 for two years and the increases in personal tax allowances.  In addition there was coverage on a number of corporate tax changes only just becoming law from the Finance (No. 2) Act 2017, particularly in respect of significant changes to loss relief for companies. 

Partner, Sean Farnell, said “We are delighted that our two budget briefings were selected to be part of the inaugural Coventry and Warwickshire Business Festival and especially pleased that the Chamber of Commerce were also in attendance. Whilst the budget announcements were seen in some quarters as being a little “tame” as always the devil was in the detail and by running these events 24 hours after the Budget Speech this gives our team time to fully review the implications and especially this year proved invaluable.”

Head of Private Client Tax, Rosy Hughes, said “Although the Chancellor’s budget was light in the way of immediate tax changes, when looking through the detail it is apparent that there are many consultations on the way that may change the tax landscape in years to come.” 

Anne Rose, Head of Tax commented “Following  a period of unprecedented levels of change in tax legislation, it was pleasing for both businesses and individuals to be given at least a brief respite to be able to take stock of where we are now before having to digest another large raft of changes’. 

 budget

Speakers Anne Rose, Head of Tax and Rosy Hughes, Head of Private Client Tax, brought guests up to speed with the latest changes from the Chancellor.