23rd March 2011

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Tax Minimisation Review

Headline-grabbing announcements in the Budget do little to hide the reality of excruciating pain for many in Hampshire

Portsmouth accountants Taxsense have today launched a free “2011 Tax Minimisation Review” initiative to help local taxpayers and businesses get to grips with the excruciating pain behind the Budget. Launching the new service Taxsense Senior Accountant Laura Phillips said:

“There are some very welcome headline-grabbing announcements in this Budget, but the devil is always in the detail, and things are rarely as rosy as Chancellors paint them in their speeches. But even if the details turn out not to be too devilish, we shouldn’t get carried away, since the underlying message is that there are two brutal truths.
The first brutal truth is that the public finances are still in a mess, and soon the huge tax burden and spending cuts announced long before today are really going to start hurting. In fact, for some local people the pain is going to be excruciating as their jobs go, their public sector contracts disappear, their businesses fail, and the benefits system no longer gives them what they need. And if they work hard and manage to avoid all of that, they could find the taxman taking up to 60p in income tax from every extra pound they earn.

The second brutal truth is that it is businesses and not Budgets that offer us the best hope of putting things right by replacing the jobs and wealth lost, and generating the extra taxes needed to pay for everything.  Mr Osborne billed it as a ‘Budget for growth’, but in reality Budget measure such as relaxing planning restrictions, setting up new enterprise zones and cutting corporation tax rates will only ever help a bit. It is how businesses respond  that really matters, since they are the real engine of growth.  So the region’s job and wealth-creating businesses need to stand up and be counted by taking urgent action to make it happen.

Despite the promises of simplification in the future, the 2011 tax regime is hideously complicated and contains a huge number of pitfalls for the unwary. The good news, though, is that it now also allows the really well advised to make some very big tax savings. And that’s why we’ve launched our free 2011 Tax Minimisation Review service for businesses and individuals – to make sure that no-one suffers by paying a single penny more than their fair share of tax.” 

Readers who do not want to pay a single penny more tax than they need to can claim a free 2011 Tax Minimisation Review by calling Olivia Buckingham at TaxSense on 02392 388 003.


For further information contact:
Layla Luff
023 92 388 003

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