'Fantastic turnout' as tax changes discussed at Wolverhampton budget breakfast event
Businesses from across the region have been given the low down on tax issues raised by the autumn budget at a breakfast held in Wolverhampton.
UK Top 10 accountancy and advisory firm Azets hosted a Budget Breakfast briefing in its new, Wolverhampton city-centre offices last Wednesday, in conjunction with Black Country Chamber of Commerce.
Speakers Francesca Hutcheson (Tax Advisory Partner), Matthew Allen (Associate Director) and Carl Stacey (Financial Planner, Azets Wealth Management) discussed the key announcements from the 30 October Autumn Statement with a packed audience from the local business community.
Delegates went away with a better understanding of the likely impact of the tax changes on businesses and their owners, and some of the legitimate planning strategies to mitigate the tax cash cost of the new measures.
Whilst further announcements and detail are expected over the coming weeks and months, one of the key takeaway messages was to have succession planning for the family business at the forefront of discussions – and to take proper legal and professional advice to ensure you are future-proofing your business for future generations.
Lee Meredith, Office Managing Partner at Azets in Wolverhampton, said: “It was a fantastic turnout from the Black Country business community at our first, in person Budget debrief in our new office location. We are planning to host more of these events in future, and look forward to helping Black Country businesses to grow and thrive, despite the ongoing economic challenges.”
Francesca added “At Azets, we are driven by our purpose to support our colleagues, clients, and communities, in a sustainable way, to help them achieve their ambitions. Whilst the Budget announcements will bring challenges (to some sectors, more than others), we can help businesses to have a clear understanding of the impact of these changes, and support our clients to mitigate that impact. Tax costs will increase, but with careful management, the effect on profitability can be managed.”
