BUDGET 2016 IS “A FAIR BUDGET FOR MOST”

16 October 2015 No Comments by The Northern Standard

Amatino Accountants and Business Advisors held their annual Budget Breakfast Briefing on Wednesday October 14th in the Nuremore Hotel, Carrickmacross.

Attended by their clients from across the north east, they heard what Budget 2016 means for them. During his presentation Amatino Managing Partner, Barry Kieran, outlined the main points from Budget 2016 focusing on what it means for business owners who make up the majority of their clients.

These include a drop in the Capital Gains Tax rate on business disposals; A new Tax Credit for self-employed, which did not previously exist; start up relief for new limited companies. He said that overall Budget 2016 was a fair budget that offers significant tax relief to PAYE and business owners alike and suggested that it was a first step on the path to equal tax treatment of self-employed and PAYE taxpayers.

However, he sounded a note of caution in relation to the effect the increase in the minimum wage may have on SMEs, in particular those operating in the retail and hospitality sectors.

amatino

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