15 Mar
Chancellor Spring Statement 2019 Summary
Update on Chancellors Spring Statement 2019
Summary: The spring statement was presented by the chancellor of exchequer Philip Hammond on the 13th March of 2019. The office for budget responsibility has forecasted growth for the UK even though we might end up with a no deal Brexit.
The Highlights of the Statements are as Follows:
Brexit
- Brexit is almost here; a no deal Brexit might have some disruption however a deal Brexit will create many opportunities. Temporary financial assistance will help with any negative effects of a no deal Brexit but these will not be too many.
- A provisional no-deal Brexit tariff list was published on the 13th of March 2019.
Other
- A 37bn fund has been created to support some regions and investments, this includes archer 2 a new supercomputing service at Birmingham University.
- Expanding the use of e-gates at Airports for certain non-EU countries.
- New quotas will be introduced for skilled workers.
Late Payments to Small Businesses
- There will be an introduction of new requirements for large companies to report on their payment terms
Having advisers who can guide a business through uncertain times is very useful, especially for growing businesses. Clear House Accountants are specialist Business Accountants in London who have been working with Businesses and Individuals, helping them with smart and intuitive solutions for their Tax, Accounting and Business problems with innovative solutions and smart objectives.
Author Bio
Thao is a Senior Accounting Manager at Clear House Accountants. Her experience in the industry has led her to her current position in which she is responsible for a team of accountants, tax planners and bookkeepers.
Thao works with her team to help clients from a variety of industries, grow, save money and plan for the future. Thao holds a Bachelor and Masters degree in Accounting and Finance and is currently working towards her ACCA, she is also a Xero and Quickbooks Certified Advisor.
Thao’s expertise lies in high-level tax planning, management accounting and strategic business planning based on financial performance and business analytics. Her experience, expertise and knowledge make her an exceptional contributor at Clear House.