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PKF ready for action before the Budget

Friday 17th February 2012

For the first time, PKF Accountants & business advisers intends to deliver its Budget response well before the Chancellor sets out his financial plans to the House of Commons on March 21.

A free Norwich breakfast seminar two weeks before the 2012 Budget announcement will allow delegates to be ready for action in response to the fiscal changes.

"We know many of the likely key changes so rather than our usual digest afterwards we are offering action rather than reaction," said Michael Muskett MBE, senior partner for PKF in East Anglia.

Andrew Robinson, PKF's Director of Tax, tax manager Philip Hunt and Director of VAT Richard Wild will bring their expertise to an event which will provide responses to key questions such as:

  • How will proposed changes in personal tax rates and allowances affect me and my business?
  • Why is it important to maximize my pension contributions this year by using up allowances for past years?
  • How can I time my investment in new plant and machinery to maximise the tax reliefs that I can claim?
  • How can I access additional capital to help expand my business?
  • If I need new employees - what financial incentives are available to me?
  • Will changed rules enable me to start claiming enhanced tax deductions for my R&D spend?
  • How can I ensure that my holiday letting business continues to benefit from advantageous tax treatment?

Mr Robinson said most of the Government plans had already been declared. He also expected a crackdown on 'abusive' tax practices and possibly a specific attack on perceived tax avoidance by family firms.

He added: "What we'd like to see to support the local economy includes: a stamp duty land tax holiday on newly built homes, a complete rethink on proposals to withdraw Child Benefit for higher rate taxpayers from April 2013; a significant increase in the basic personal allowance; and a commitment to bring the main rate of corporation tax down to 20% in the next few years."

The free Budget breakfast seminar is to be held in Norwich on March 7th, to book places contact Tracy Cox on 01493 382528 or email tracy.cox@uk.pkf.com


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