As with every Budget and Autumn Statement there is a lot of conjecture about what the Chancellor will announce on the day.<\/p>\n
Today\u2019s Statement is no different, and newspapers and economists across the UK are trying to hedge their bets and come up with the best predictions ahead of the announcement.<\/p>\n
So far a number of the things due to be announced in today\u2019s Statement have already been revealed. These include a \u00a315bn investment for Britain\u2019s roads during the next parliament, an additional \u00a32bn for the NHS and a new Garden City near to Bicester in Oxfordshire.<\/p>\n
Each of these moves has been generally met with approval and is likely to contribute to the UK\u2019s social and economic well-being.<\/p>\n
What also seems likely is that George Osborne will announce new powers for Northern Ireland to set its own corporation tax, which could have a significant impact on companies currently operating both inside and outside the country.<\/p>\n
He is also expected to announce that the UK\u2019s GDP forecast has been upgraded from 2.7 per cent to 3 per cent in 2014 and 2.3 per cent to 2.5 per cent in 2015. This demonstrates that the UK economy is managing to grow, despite problems in the Eurozone.<\/p>\n
A lot of the UK\u2019s economists and financial pundits are also expecting a reform to the UK\u2019s business rates, pension reforms, which will include tax cuts for widows, and a possible change to the lower and upper personal tax thresholds, which may be announced, but not acted upon until the Budget next year.<\/p>\n
Some of the more extreme suggestions include reforms to inheritance tax rules that will see the nil-rate band move from \u00a3325,000 (\u00a3650,000 for couples) to \u00a31m and changes to the \u201cpatent box\u201d super-low tax regime.<\/p>\n
No matter what is announced, many people and companies are likely to be affected and for those who are left unsure about where they stand, it could be time to seek the advice of a qualified accountant who can help them deal with the changes before they come into power.<\/p>\n","protected":false},"excerpt":{"rendered":"
As with every Budget and Autumn Statement there is a lot of conjecture about what the Chancellor will announce on the day.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,4],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/554"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=554"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/554\/revisions"}],"predecessor-version":[{"id":555,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/554\/revisions\/555"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}