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24 Nov

Budget Report 2017 - At A Glance

Introduction

Chancellor Philip Hammond said he’d take a “balanced approach” to his second Budget of 2017.

Once again the speech was light on headline-grabbing finance changes and there were no ‘giveaways’ or major surprises.

Instead, the chancellor focussed on measures to prepare the economy for post-Brexit life.

Raising productivity is key to boosting economic growth and wages, but growth has “remained stubbornly flat” and continues to be an issue.

In light of this, the Office for Budget Responsibility revised down its forecasts for growth.

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28 Nov

Autumn Statement 2016

Introduction

The first major economic statement since the EU referendum focused on measures to "prepare our economy to be resilient as we exit the EU".

Unsurprisingly, the Office for Budget Responsibility (OBR) forecasts for growth have changed since the last figures were published in March.  The prediction for 2016 is 2.1%, slightly higher than the 2% forecast in March 2016.

However, in 2017 growth is expected to slow to 1.4%, lower than the 2.2% predicted at the Budget in March.

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18 Aug

Extracting Profits From Your Business

A Guide To Tax-Efficient Profit Extraction For Business Owners

Owning and running your business is a tough proposition but it is vitally important that people continue to do it.  As well as the rewards that come from hard work and determination, there are also monetary benefits to running your own business.

There are a variety of ways in which profits can be taken out of a business, each with their own tax implications.  And, of course, tax rules have a habit of changing over time so strategies that worked in the past may not be best suited to the present.

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