MANY PAGES have been filled with Budget commentary, perhaps making it the most well-trailed Budget of all time. Budget purdahs are a thing of the past.
So what’s in it for accountants?
The introduction of a general ‘anti-abuse’ rule will of course be of interest. How will it work? The details of that will have to come out in the wash, and much discussion on the topic has already taken place.
It’s likely there will be changes to personal allowances, non-dom rules and a cut in the 50p rate. There have also been whispers of something to boost the SME community.
But nothing truly awe-inspiring, exciting or even frightening. Where are the talking points?
Accountancy Age believes that the one thing tax advisors really want is a top-performing HM Revenue & Customs.
So it would be incredible to see Osborne announce a freeze on cost-cutting plans at the taxman, throwing in an extra £100m investment in staff and training. Let’s bring back the tax inspector!
Is this likely to happen? Well, no.
But it would certainly give us all more to talk about, rather than merely having confirmed to us what we already knew.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
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