Sort out tax and businesses investment, Chancellor is urged

By Anita Jaynes on November 25, 2014

The Chancellor George Osborne is being urged to promote business investment and simplify the taxation system for employers, in his last Autumn Statement before next May’s General Election.

The Chancellor’s Autumn Statement on December 3, seen as a mini-Budget, should also be used as an opportunity for the Government to clarify pensions reforms, which are due to be introduced in April.

Leading Swindon accountants Banks BHG says encouraging investment in businesses and simplifying the PAYE and National Insurance contributions systems will ease the burden for employers, many of whom are still coping with the aftermath of the recession and facing another possible downturn in the economy.

Banks BHG director Richard Mathews said: “As the final Autumn Statement before the Election it could contain very little, but equally the Coalition could use it as a last chance to push through some changes.

“We’d like to see Mr Osborne simplify the system of National Insurance and taxation for businesses, which are also being affected by the compulsory auto enrolment rules, where employers are obliged to set up a pension scheme for staff.”

Banks BHG is running a free event after the Autumn Statement, where a panel of experts will provide analysis. Joining Richard Mathews on the panel will be Richard Cox, from Lloyds Bank, Clive Parkinson, of Forward Swindon, and independent financial adviser Bill Crowley from Castlegate Investments.

The event starts at 5.45pm on December 3. The panel will give their analysis of the Statement, followed by a Q&A session and buffet.

Banks BHG has already run two seminars on auto enrolment, and two more are planned for 2015, on February 4 and May 13.

To register to attend events, visit www.banksbhg.com or email events@banksbhg.com