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By November 8, 2017January 26th, 2021Member News & Updates, Why Exeter blog

Find out how Chancellor's impending Budget statement could affect you and your finances at event held by Thomas Westcott Chartered Accountants

As the Chancellor prepares to deliver his autumn Budget businesses and individuals in Exeter are invited to find out what the announcement's impacts might mean for them.

While Brexit negotiations continue to cause economic uncertainty, Chancellor Philip Hammond is expected to have a difficult Budget to present if he wants to deliver the promised balanced Budget over the coming years, with many forecasting that he cannot achieve his aims without further austerity measures or having to raise taxes.

With neither being attractive propositions and likely to harm long-term growth it will be interesting to see how he handles this say, experts from Thomas Westcott Chartered Accountants, which is holding a seminar in Exeter to brief people on the Budget's main points.

“Tax avoidance remains in the headlines as HMRC continues to have success in defeating aggressively sold schemes.

“We fully expect further announcements in this area that, based on previously introduced legislation, is likely to have far reaching effects for all businesses,” said Mark Tibbert, partner and tax expert at Thomas Westcott.

“Following the previous back down on the proposed increase in National Insurance Contributions (NIC) for self-employed, it was interesting to see that the pledge to not increase taxes was not in their last election manifesto, it is therefore not inconceivable, although likely to be unpopular, that there will be changes to NIC rates.”

For over 30 years Thomas Westcott has kept its business clients' operations running as compliantly and tax efficiently as possible, as well as keeping its individual clients' savings and investments in order.

“With the Chancellor under increasing pressure we expect this Budget announcement to have serious consequences for businesses and individuals alike,” continued Mark Tibbert.

“It is imperative, therefore, for people to be informed about any changes as soon as possible so they can prepare to meet those changes and lessen the operational impact on their finances,” he added.

The Thomas Westcott Budget Seminar takes place:

Thursday, November 23, 7.45am – RAMM, Queen Street, Exeter, EX4 3RX

Thursday, November 23, 7.45am – Park Hotel, Taw Vale, Barnstaple, EX32 9AE

Thursday, November 23, 12noon – Duke of Cornwall, Millbay Road, Plymouth, PL1 3JG

Thursday, November 23, 12.30PM – Batch Country House, Lympsham, Somerset, BS24 0EX.

To book a seat at the seminar please email [email protected] or call 01392 288555.