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What does the budget mean for the haulage and motor trade?

As I am sure you are aware, the Chancellor gave his pre election budget today, with a few mentions towards the motor industry.  In general the budget was extremely positive; the Chancellor took the time to highlight what the current government had done to help the UK economy.

One of the strap lines that will come from the budget will be get a “tenner off a tank with the Tories” which was mentioned with the announcement that the September 2015 fuel duty increase was going to be cancelled.  This is great news and will be very helpful to haulage companies.

What does the budget mean for the manufacturing industry?

As I am sure you aware, George Osbourne gave his budget today; he was extremely positive about manufacturing with the statement “Britain is walking tall again”.

He accompanied this with some facts about the UK economy such as an extremely low 5.3% level of unemployment and the fact that 1,000 jobs are being created a day (80% of which are full time), all very positive statements in advance of the election.

Along with these statements however the Chancellor did announce measures that will affect UK manufacturers:

What does the budget mean for the independent retail industry?

As I am sure you aware, George Osbourne gave his budget today; he was understanding of the struggles retailers are facing and made reference to this in his statement today.

He accompanied this with some facts about the UK economy such as an extremely low (5.3%) level of unemployment and the fact that 1,000 jobs are being created a day (80% of which are full time), all very positive statements in advance of the election.

Along with these statements however, the Chancellor did announce measures that will affect independent retailers:

NHS spending and personal allowance increase should take priority tomorrow

Results from a poll carried out by Armstrong Watson showed that local people think the government should concentrate their spending on the NHS, with 41% of respondents citing this as the top priority.

The second most popular response was 32% of respondents saying spending on big building projects, such as roads to boost the economy, should be a priority. Interestingly, schools and the armed forces came in at 16% and 11% respectively.

Changes ahead for charities

Charities with 31 March 2015 year ends – What you need to know

Lord Hodgson’s report published in 2012 on the Charities Act 2006 suggested that audit exemption should be made available to charities with income less than £1 million. The Charity Commission’s recent consultation has asked the sector for its comments on changing the audit threshold limits and other size limits currently in place within the Charities Act 2011. 

The current audit exemption rules for charities in England and Wales are:

Long term care – covering the costs if the need arises

None of us can be certain if we will need long term care when we get older and this uncertainty, together with a broad understanding that care costs can be very expensive, means that for many people, this can be a major financial worry.

Most of us would like to imagine that the assets we have worked hard for throughout our lives will pass to our children and grandchildren and not be swallowed up by funding the cost of care in our later years, but with an average weekly cost of £563, a stay of just a few years in a care home can make a significant dent in ones assets.

Four features to consider when accepting card payments - plus big VISA Debit fee changes

Having recently read in The Telegraph that this weekend saw the tipping point in which more payments transactions were made by non cash methods than cash, I thought it would be good to do a follow up on my recent blog “Nine reasons why you should consider accepting card payments” on the main features to consider when choosing a card payment machine, and talk about recent fee changes for accepting VISA Debit cards.

Armstrong Watson gains exclusive endorsement by The Law Society

Armstrong Watson has achieved a high accolade by becoming the only firm in the North of England to be exclusively endorsed by The Law Society for the provision of accountancy services to law firms throughout England’s Northern Regions.

Should I stay or should I go?

Three areas to be aware of when considering your UK residence status

New residency rules came into force from 2013/14 onwards which, at first glance, appear to offer a simpler way of determining your residency status. This is important as if you are deemed to be non UK resident, you will not be subject to UK tax on your foreign income. However, whilst the rules offer greater certainty over your position, they are also very prescriptive, making it easy to fall foul of the rules.

Here are three areas to be aware of if your residency status is in question:

Is there a £2,000 grant available for your business?

Would your business benefit from increased profitability, better cash flow forecasting / budgeting or a general strategic review?  If so then there is potentially a grant of up to £2,000 available for your business. The Government launched Growth Vouchers last year to help businesses grow during the current difficult financial environment however they are running out fast so time is of the essence to apply.