Editorial team AccountingWEB.co.uk
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Budget 2010: Live coverage and reaction

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23rd Mar 2010
Editorial team AccountingWEB.co.uk
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AccountingWEB.co.uk is providing live coverage of the 2010 Budget on 24 March. See below for instant reaction from our panel of experts and live tweets from social network Twitter plus, on the right hand side of the page, a live transcript of the chancellor's speech as he delivers it in the House of Commons. Feel free to add you own comments.

Live reaction from our panel of experts. They are:
Rebecca Benneyworth, tax editor, AccountingWEB.co.uk
Charlie Mullins, founder, Pimlico Plumbers
Paul Webb, tax partner, Robert James Partnership
Simon Featherstone, managing director, Lloyds TSB Commercial Finance

The view from Twitter:

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Steve pipe
By Steve Pipe
24th Mar 2010 14:31

Are you ready for the tax planning bonanza ?

Great use of technology - thanks Accountingweb.

The extra £567bn of borrowing over the next 5 years announced by the Chancellor equates to c £9,450 for every man woman and child in the country.

And that means that a town with 50,000 people will end up paying £472 million extra in tax (or have to slash the equivalent amount from the public services it receives). While for a region with 2m people the extra tax bills will add up to £18.9 billion. 

What’s more, the Chancellor also admitted that “60% of the tax rises are being paid for by the top 5% of earners”.

So this Budget clearly creates a massive opportunity for accountants to do more tax planning work than ever before.

Recently I have interviewed dozens of practices, and discovered that some of them are finding tax planning work much more lucrative and profitable than others at the moment. So if any reader wants a free pack of case studies on what the really profitable ones are doing please email me on [email protected]

www.avn.co.uk

-- Steve Pipe FCA - Author of the White Paper "The Proactive Accountant" and adviser to over 200 leading UK accounting practices.

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