Attendees at Accountex next week will have the chance to pick up some practical and useful tips on how best to advise small business clients about tax changes in the Budget.
Chris Jones, who leads the tax and learning businesses at LexisNexis and is president of the CIOT, will be lecturing on ‘What the Budget means for you and your clients’
Prior to the big event, AccountingWEB caught up with Jones to get a sneak peak of what he’s going to talk about and why people should attend.
“It’s very much a practical look at the changes, which are quite wide-reaching changes in the Budget; so what it means to owner-managed businesses and what it means to people who own property,” Jones said.
He explained that there were some new tax reliefs introduced in the Budget, but it’s important to find out exactly who will they benefit and how to benefit from them.
Jones added: “There was a reduction in capital gains tax rates, but there’s a sting in the tail because they don’t affect every situation. So it’s about understanding who can benefit and who can’t.”
He said there were many opportunities for small businesses in the Budget, but added the losers of the Budget were people with the “audacity to own of buy-to-let”, and people who are saving for pensions. “There’s a worry there,” he warned.
Jones said he will make reference to HMRC’s Making Tax Digital and the abolition of the tax return in his presentation, but added:
“While it means it might be the abolition of the tax return as we know it, the fact that businesses have to move to quarterly reporting - what does that mean and where could the work land?”
Chris Jones’ ‘What the Budget means for you and your clients’ session takes place on 12 May at Accountex in the ExCel Centre, London.
About Robert Lovell
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