{"id":2732,"date":"2015-07-10T16:33:03","date_gmt":"2015-07-10T15:33:03","guid":{"rendered":"http:\/\/kwa.client-d2p.co.uk\/?p=244"},"modified":"2015-07-10T16:33:03","modified_gmt":"2015-07-10T15:33:03","slug":"summer-budget-2015-overview-for-small-to-medium-businesses","status":"publish","type":"post","link":"https:\/\/kirkwoodwilson.co.uk\/summer-budget-2015-overview-for-small-to-medium-businesses\/","title":{"rendered":"Summer Budget 2015 Overview for Small to Medium Businesses"},"content":{"rendered":"
The big headline from Chancellor George Osbourne’s first full Tory budget since 1996was a radical move to introduce a compulsory “living wage”, entitling over 25s to earn \u00a37.20 an hour, rising to \u00a39 by 2020. <\/span>Kirkwood Wilson Accountants<\/strong> assesses the other marquee measures likely to affect small to medium businesses.<\/span><\/p>\n <\/p>\n As part of Osbourne’s plans to make Britain a \u201clow-tax, high-wage economy\u201d nearly 30million workers are in line for an income tax cut, while employers were promised that their taxes would fall to help finance the compulsory new National Living Wage.<\/p>\n Some of the headlines from the budget included:<\/p>\n A crackdown on tax avoidance, including an end to permanent non-dom status and increased resources for HMRC.<\/p>\n Caroline Wilson, Kirkwood Wilson Accountants Managing Director, thought the new Budget reforms would be largely underwhelming for small to medium business owners. \u201cWhile the headline measure to introduce a ‘living wage’ is great news for employees, it is unclear how it will effect small to medium business owners in the longer-term,\u201d said Caroline.<\/p>\n \u201cThe reductions to corporation tax could help to ease the pressure but it depends on how many low-paid employees a company has and its level of profitability. The increased tax-free personal and inheritance allowances are certainly a welcome boost for savers.<\/p>\n However, business owners and top-rate tax payers might be disappointed by the cuts in the Annual Investment Allowance and the changes to the old dividend system respectively. So, all in all, the summer Budget has been a mixed bag of results, with a relatively equal balance sheet of wins and losses.<\/p><\/blockquote>\n For more information about all our services please contact us on 01704 546000<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":" The big headline from Chancellor George Osbourne’s first full Tory budget since 1996was a radical move to introduce…<\/p>\n","protected":false},"author":2,"featured_media":561,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[16],"tags":[],"acf":[],"yoast_head":"\nSummer Budget 2015 Headlines<\/h2>\n
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Our account on matters<\/h2>\n