Lunch planned to analyse this year’s Budget statement

Businesses from across south Wales that want to fully understand this year’s Chancellor’s budget are invited to attend a special lunch organised by the South Wales Chamber of Commerce in conjunction with leading accountancy firm and Chamber patron member, ktsowensthomas.

Held at private member’s club, The Park House Club, on the 23rd April, the day after the official budget announcement, the Budget Lunch will analyse the changes, challenges and developments unveiled in Alistair Darling’s eagerly anticipated second budget statement.

Tax consultants Alistair MacDonald and Kate Moore from ktsowensthomas will provide in depth advice on changes to tax legislation, while David Russ from The South Wales Chamber of Commerce will look at the impact the Budget statement will have on the Welsh business economy. In addition, there will also be a Budget Question and Answer session with Patrick Powell from ktsowensthomas, David Russ and Professor Dylan Jones Evans.

Head of tax at ktsowensthomas, Patrick Powell says: “This year’s statement will undoubtedly receive a lot of attention because in addition to the usual plans for changes to tax legislation, Mr Darling is expected to include in the statement more measures aimed at helping Britain recover from recession.

“It is also anticipated that Mr Darling will be forced to amend the statement made in November's Pre-Budget Report when he said that he believed that the economy would start to witness growth by the second half of 2009.”

The Budget, normally announced in early March before the beginning of the new tax year, has been delayed by almost a month amid the deepening recession.

Patrick adds: The timing suggests that the Chancellor’s budget and strategic proposals of how we solve the country’s financial difficulties will depend on the level of international co-operation achieved at the G20 economic summit being held in London at beginning of April.

“It is rare but not unprecedented for the Budget to be held after the start of the new tax year and we will wait to see if any unnecessary complications will be added by making changes to the tax system once the tax year has started.”

Head of south Wales Chamber of Commerce Patrick Long adds: “The south Wales business community will be eagerly anticipating the Chancellor's decisions on taxation and his proposals to get the UK out of the current recession and in turn strengthen the economy. The lunch will provide businesses with the opportunity to discuss the Budget report and the impact it will have on the Welsh business community with specialist experts from ktsowensthomas.”

Those wishing to book a place at the lunch should contact Natasha Baugh at the South Wales Chamber of Commerce on 01633 242 721 or email info@southwaleschamber.co.uk

ktsowensthomas is a firm of three-dimensional accountants and tax advisors. With a head office in Cardiff and a regional office in Aberdare, we are well placed to cover the accountancy needs for business and private clients in south and mid Wales. We provide financial and commercial services to owner managed businesses, small businesses, mid to large corporates, public sector, charity, not-for-profit organisations and private clients across south Wales. Our expert Cardiff accountants or regionally based expert advisors would be pleased to review your audit, tax return, business accounts and annual reporting needs.

If you are a small business in Cardiff, Swansea or Newport looking for advice on audit, business consultancy, corporate finance, tax or wealth planning, please get in touch.

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