As we approach yet another spring budget – the date is set for the 15th March 2023 – will taxes rise or fall. And more importantly for practitioners, how will any changes affect your advice to clients?
There will be two-fold concerns:
- will any changes impact advice already given to clients; and
will any changes impact future advice?
No-one expects that nothing will change, and there are sound arguments that change is a necessary part of our national attempts to stay ahead of international challenges.
Informanagement will keep you ahead of the curve. We will be issuing our usual round-robin explaining the main budget features, which will feature in our published material the following day, 16th March.
It is fairly likely that certain aspects of the Budget will require detailed consideration, and this may open up possible advisory work with affected clients.
This will be particularly galling if past advice given has to be tweaked or perhaps reversed; no doubt creating challenges if it involves additional costs…
Perhaps the real issue here is not the direction of tax changes, but how we respond to those challenges.