Category: Contractor Industry News

The emergency Budget was "better than expected" for many people, although public sector contractors could be hard hit, it has been suggested.

For investors and business owners, the measures announced by chancellor George Osborne were "mainly better than expected", said Martin Bamford, chartered financial planner and managing director at Informed Choice.

There had been fears of bigger increases to Capital Gains Tax and such rises being backdated, he pointed out.

"Preserving the annual exemption at £10,100 and not introducing taper relief or indexation allowance is good news to keep the calculation of this tax nice and simple," Mr Bamford explained.

Many of the measures revealed kept things simple and focused on spending cuts rather than tax rises, he continued.

"Some of the measures to help small businesses, including limiting employer NI increases and reducing corporation tax, will make the UK private sector more attractive and hopefully boost the economy."

Posted by John Crawley