This Wednesday (19 March) AccountingWEB and BusinessZone.co.uk will be hosting a live online session throughout the Chancellor's speech.
Join us from 12.15 on Wednesday and add your thoughts and reactions to those of our business and tax panellists.
While you're waiting, why not enter the TaxCalc Budget 2014 sweepstake for the chance to get your hands on £250 worth of Amazon vouchers. You can also register now to receive a copy of Rebecca Benneyworth's detailed Budget report, which will set out all the key issues affecting small businesses (available from Monday).
Our expert panel includes:
This year we want to hear what you have to say about the coalition government’s plans. Type your comments in the box at the bottom of the panel below:
Contributions from the AccountingWEB.co.uk editorial team.
try looking for the good news guys we dont need or want all this negativity
The rate of tax on savings is wholly irrelavent if you're getting 0.5% gross !
all this residentail property stuff
i need to mug up . in the old days it was if it moves tax it , now its the other way round :-)
iht and emergency services
Any idea how many ambulancemen and firefighters are likely to have enough to pay IHT ? Like squaddies ? Nonsense.
R & D Tax Credit up
Good news, the 11% rate of relief for SME's is to be lifted to 14%
This is a massive increase but hopefully the 'detail' may do a little more to help innovative companies benefit from RDTR when approaching break even
Tax Insight UK
well older we are in agreement
what do expect from a chancellor that went to st pauls , surely an old etonian is upto the bill , step forward my old house colleague Oliver Letwin
Why isn't Mr Balls making the response for the opposition?
Ah yes - because he made such a hash of it last time....
I'm having difficulties...
I am writing my newsletter on the Budget as we speak - and I'm finding it difficult. Nothing for my small businesses who already get the AIA. The pension changes are welcome (but a bit late for my clients who took their pensions a few months ago!) plus the increase and changes to ISA's but as oldersimon says the interest they are getting is nothing.
It would have been better to have done something for NIC's. Are the building proposals really a good thing? The words 'Housing Bubble' come to mind.
I'm going to have a look at the published document online in case I missed something....
Class II NI to be collected through self assessment
Although none of us knows how to calculate it we all know there is something called an annual maximum for NI purposes.
If class II NI is to be collected through self assessment isn't this going to involve our tax software writers coming up with some rather wonderful enhancements to their products?
I meant to reduce Class 4
Well, what can I say apart from what an absolute rubbish Budget. One point in particular was increasing the AIA to £500K for all businesses, this really helps small businesses doesn't it, don't know about anyone else but we have no small business clients who would spend that amount in one year, yet another indication that the government favours the RICH!!!
Class II NI and Tax Software
daveforbes has beaten me to it.
Overall tax software follows the rules and calculations set out by HMRC. Whilst building NI into the tax return will be a new section for us to worry about, software such as TaxCalc will be able to handle this change fairly seamlessly. Validations will be incorporated to ensure the maximum limits are not exceeded.
TaxCalc Product Manager