The accounting and finance franchise recently shared a blog post letting customers know when the announcement would occur and what it was likely to entail.
Today (March 23rd), Chancellor of the Exchequer Rishi Sunak will announce the UK government’s Spring Statement to MPs. In the words of TaxAssist Accountants, “Although the Spring Statement is typically an update on the outlook for the UK economy rather than a full-blown Budget, the Chancellor’s speech will be pertinent for the small business community for several reasons.”
The bookkeeping and accounting franchise continued, “Amid the backdrop of rising inflation and the crisis in Ukraine, Sunak is likely to address the rising cost of energy and fuel costs that have hit small firms hard in recent months. The Office for Budget Responsibility (OBR) will publish its economic and fiscal forecast ahead of the Spring Statement 2022. The forecast will outline the picture for spending, GDP, national debt, unemployment and wages. All of which should help to inform the Chancellor’s immediate plans to deal with the escalating costs incurred by employers and employees alike.” The following plans are open to the Chancellor:
- Going further with offering money, including the price of wholesale gas and oil escalating by day (which is hitting small business owners especially hard)
- A windfall tax on energy companies and the suspension of green/social levies
- A discussion surrounding the rise in NI (National Insurance) contributions
If you’re interested in joining this UK-wide accounting network that’s always finding new ways to inform its customers and keep them in the loop, you can become a TaxAssist Accountants franchisee for a minimum initial investment of £39,950. Find out more about starting your investment journey with TaxAssist via the company’s profile page, which you’ll discover linked above.
Cara Squires, Point Franchise ©