The first Budget from the new Labour Government delivered at the end of October has certainly created plenty for business owners to think about. On 27th November Gooding Accounts and Heritage Financial Consultancy welcomed speakers from St James Place and Goughs Solicitors for a thought provoking morning on planning for the financial future and how changes to employment law will impact small businesses.
Simon Martin, Chartered Financial Planner discussed why it’s never been more important to think about the future, particularly in light of changes to Inheritance Tax which sees previously exempt pension savings now being included as part of Inheritance Tax Allowance from 2027. He also discussed how a freeze in the Inheritance Tax Allowance until 2030 will lead to many more individuals being subject to the tax in years to come. He encouraged us to consider how the way in which we utilise our pension on retirement may begin to change.
Rebecca Dennis, Head of Employment law at Goughs Solicitors spoke about the key changes in employment law and how these will impact small businesses. Including changes to the right to unfair dismissal from day-one of employment to the requirement for all businesses to train all employees on sexual harassment and the provision of regulated probationary periods – there’s certainly plenty for business owners to plan for.
If you were unable to attend you can download the presentation from Chartered Financial Planner, Simon Martin below. And if you have any further questions Gooding Accounts’ dedicated Client Managers are on hand to help guide you.
Our friendly and helpful approach to accountancy, ensures that you understand and are in tune with your finances. Our committed team will communicate with you every step of the way so that you understand the position of your financial affairs – get in touch today.
