‘Sugar Sugar’ - Trying to Make Sense of the Budget – March 2016

George Osborne has now delivered 8 Budget Speeches. Where has the time gone?  
He is arguably the most political Chancellor of Exchequer of recent vintage so with the EU Referendum looming and with his reputation, (and the Prime Minister’s), firmly on the line if the nation votes for BREXIT, this was never going to be a boat rocking speech.
No wonder it was pitched as the Budget that ‘put stability first’.



Trying to make sense of the Budget – 8th July 2015 

‘We must consult our means rather than our wishes.’ - George Washington 


Another George hit the headlines yesterday with a wide-ranging, highly political Budget Speech. With his newly elected foot planted firmly on the throat of a struggling Opposition, Mr Osborne surprised many with the introduction of a National Living Wage which will see the poorest paid workers receive a pay rise of almost a third in the coming years. He went on to pledge that Britain would become ‘a higher wage, lower tax, lower welfare country’. The pledge is supported by Government commitments not to increase income tax, corporation tax or VAT during the life of the current Parliament.

However, the independent Office for Budget Responsibility identified £47 billion of tax increases in his speech!  

Set out below is a review of the major measures that we believe will be of most tax and commercial interest to our clients and key contacts. 




March 2015 Budget Review

It’s now less than 50 days to the General Election and Wednesday’s Budget Speech was effectively the opening formal shot in the campaign. Nearly all the headline announcements were made with a view to gaining political advantage.
With all this political heat and light being expended this was a relatively quiet Budget from a tax perspective. Indeed, some of the announcements won’t actually come to pass if there is a change of Government.  However, even so this is a still a Finance Bill of 550 pages (!) so there is still plenty to reflect on in matters of tax and commercial interest to our clients and key contacts.



New rules allow barristers to trade through limited companies

The Bar Standards Board have recently allowed barristers to trade their professional services through a limited company, subject to BSB authorisation.
This is going to prove to be a big change and is something barristers should consider as there are significant annual tax savings to be had in incorporating your practice if your annual profits exceed £50,000.
Turning Circle Solutions can advise you on whether incorporation would be appropriate for your particular circumstances; we can also help you with the creation and ongoing administration of a limited company vehicle and additionally guide you through the BSB entity authorisation process.
We firmly believe that this is an important development in a fast changing environment for your profession; we are more than happy to have an initial free consultation with you on this topic at your convenience.


A Bit of William Shakespeare

It's been a summer of huge national and international political significance and for once the trials and tribulations of the UK economy has been off the front pages of the newspapers.
Once you factor in a pre-election season of bribes, promises and general political moonshine we don't anticipate any meaty, major Government inspired business initiatives before May 2015.
However, the business world of course always keeps turning and in this newsletter we try to hopefully identify some current trends of commercial interest to our clients and key business contacts.



The Taxman

With the tax year-end having just passed we thought it might be worth having a look at a number of recent important Treasury inspired law changes and initiatives.

It is highly likely that these changes will eventually have a significant impact on relationships between defaulting taxpayers, their advisers and HM Revenue and Customs.  Good professional advice will be needed!  


Turning Circle Solutions is led by Tim Rosser, who has advised on more than one hundred business turnarounds since 2001. We continue to work today with a number of companies that have gone through a turnaround process and are now thriving.

If your company is at a stage where it needs turnaround or recovery core skills then please do click on the Business Turnaround section for an immediate response.

Our assistance can take many forms. Perhaps a CVA (Company Voluntary Arrangement) may be appropriate, or perhaps your business simply needs an improved source of finance. Whether it’s a question of increasing tax efficiency, a change of company direction, different funding partners or simply impartial advice and opinion, the support is right here, right now. Tim Rosser leads an extensive network of professional contacts in all areas of business.

All of these avenues and more are open to anyone contacting Turning Circle Solutions. Tim Rosser leads an extensive network of professional contacts in all areas of business.
As a qualified barrister, chartered accountant and chartered tax adviser, Tim is unusual in the business turnaround sector in that he can advise on all aspects of the company’s performance. As a barrister and accountant he’s also unusual in that he talks plainly, in jargon-free English, responds on the same day and doesn’t charge ridiculous fees just to ask his advice!

Please call Turning Circle Solutions now or email us or click on the section that interests you most. We’re looking forward to helping you.

Turning Circle Solutions
Get Flash Turning Circle Solutions