Hammond let me down, But I saved £3800 on VAT!

Philip Hammond Augustinian’ tricks

I was a bit tardy in getting the slides ready and making my recording this week. No problem, I thought. Hammond is delivering his budget, so I can get plenty of material from that.

How wrong could I be? On the face of it, there was plenty of crowd-pleasing giveaways.  There was also lots of political theatre and playing to the house. But from his speech, I could not pull together enough practical points to do my usual 5 minutes for you.

Some have said that he was kicking the bad news into the long grass. There is a link to an article in the Evening Standard under the picture.

 

Taxes and Reliefs

There is usually a lot more in the written budget statement and so we will have to wait and see what comes out. I expect there will be some things that he wants to slip in and not in the limelight of his budget delivery. Experience says there will be something. We all know when it comes to budgets, Chancellors are not that generous and it sounds like he has not got a lot of wriggle room.  We will keep you posted.

 

More Savings on VAT

So, having made this assumption and having been caught out so badly, it set me thinking about all those blindingly obvious things that come as a complete revelation to other people.

One of the areas that I frequently come across this is when discussing VAT. It has been our theme for the last few weeks and has sparked some good conversations.

So today I am going to speak about the blindingly obvious. And if I am right, some of you will have missed the obvious and I may just have saved you a lot of money.

As ever, any thoughts or questions on  VAT or other aspects of tax planning, please call or email.

Call us on 0800 180 4401 or email advisers@thelongpartnership.co.uk

Slaying your tax dragons and making life less taxing!

Alan Long
The Long Partnership