Certax offered its expert insight into how some of the government’s actions may affect the people of the UK, particularly small businesses.
Certax is one of the most respected accounting and bookkeeping franchises in the UK and it’s been offering insight into the government’s financial approach to Brexit.
In its most recent newsletter, it discussed some of the most pressing issues that have the potential to affect people across the UK. One of the new stories it shared was that Chancellor Sajid Javid has carried out a one-year spending review to help the government allocate funds more appropriately to departments ahead of Brexit. Certax said:
“According to the Chancellor, a one-year budget allocation would allow civil servants to simultaneously press ahead with improvements to public services and prepare for Brexit, which is currently set to take place on 31 October. The Spending Round will support commitments made by Prime Minister Boris Johnson since he came to office, including the recruitment of 20,000 extra police officers and additional funding for schools and the NHS. The Spending Round will set departmental day-to-day spending budgets for 2020/21.”
The Institute for Fiscal Studies also commented on the decision, saying:
“The ongoing uncertainty surrounding the nature of the UK's departure from, and future relationship with, the EU means that the outlook for the UK economy is currently highly uncertain. Given that, setting departmental budgets for just one year is understandable, and leaves the government more flexibility to respond to future developments.”
If you’re concerned about how Brexit or any other kinds of political changes may affect your small business or you as a sole trader, speak to one of Certax’s advisors today. Or, if you’re keen to help people de-mystify how changes in the world will affect their business and their finances, you could become a Certax franchisee.
Sophie Cole, Point Franchise ©