You really have to watch George’s balls very very carefully. George Osborne’s Budget statement was really like a cricket bowl which looks like one thing but is in fact another.
First of all it wasn’t really an Autumn statement was it? December 3rd I’d call that “winter”.
Then comes the great SDLT great tax “give away”. Ok so a large number of people will benefit from the blended rates of tax and we whole heartedly support that. But lets not ignore the fact that the top two rates of tax have doubled with the top end an eye watering 12% at the top end. How that will play out in the pricing of properties going to market remains to be seen. While we definitely do not support and annual (mansion) tax – I think this still has a ring of tax hike around as effectively its a punitive capital gains tax in all but name. Where’s the aspiration in that?
Buried deeper was the hit on entrepreneurs and start ups. Transferring businesses into a corporate shell has been process as old as the limited liability concept itself. Start ups unsure as to the scale and scope of this business might start as a sole trader or partnership then after a few years fold everything into a Company- making themselves director and shareholder. The tax regime around this was benign – as it should be. You were (until last week) able effectively to set the goodwill against your other tax payments eg corporation tax. While you can still take advantage of entrepreneurs relief the base cost is set at a higher level. So where the incentive in that?
If only George had shouted these changes on his budget delivery as loudly as some of the patterns you will be wearing on your Christmas jumper today – then we’d all have had a bit more time to react and shout “howzat”.
Venetia Lawson-Cruttenden [solicitor] is fantastic! She is always so thorough and efficient and gives you the
DG Law supported us through a very difficult contractual negotiation to achieve exactly the outcome
We were very pleased with the way that DG Law helped us on our transaction
Thanks for all the help from DG Law in pulling together our somewhat complicated loan.
DG Law resolved a difficult lease renewal for us and their services were excellent –
I needed understanding and experienced legal advice. DG Law provided an excellent service at a
My experience was second to none – the service was professional and personal. DG Law
DG Law always step up to the plate on our transactions and handle the various
DG Law was recommended to me and my partner and I received excellent advice –
Having worked with DG Law a number/couple of times now, I have been really impressed
DG Law were constantly at hand, and kept pro-active throughout the thorny process of getting
DG Law organised and ran a very useful session to help to make our team’s
DG Law came recommended to me and whilst setting up a new business it was
We were recommended three lawyers to handle the sale of our seven year old successful
We live by our core values of transparency, flexibility and being honourable – every day
We put ourselves in your shoes so we understand your problems from the inside out
We deliver our advice in a way that is easy to understand