In this episode of "It's a Numbers Game" Daniel Welling is joined by resident accountant Chas Roopra to analyse Rachel Reeve's first budget and its implications for businesses, especially MSPs. They discuss the unchanged corporation tax rates and pension legislation, and highlight key changes like the upcoming increase in national minimum wage, unaltered tax allowances leading to a stealth tax, and adjustments to employer NI rates and allowances. The episode also covers changes to capital gains tax, specifically for business asset disposals, offering insights into tax planning opportunities for MSP owners. Key takeaways include the importance of budgeting, projecting director salaries, and understanding potential tax liabilities.

 

00:00 Introduction and Welcome

00:32 Overview of the Budget

01:08 Unchanged Policies

02:38 Key Changes in the Budget

05:14 Impact on Employers and Employees

10:45 Capital Gains Tax and Business Asset Disposal

16:35 Actionable Takeaways for MSP Owners

18:47 Final Thoughts and Conclusion

 

Connect with Chas Ropra on LinkedIn by clicking here – https://www.linkedin.com/in/chas-roopra-44250410

Connect with Daniel Welling on LinkedIn by clicking here – https://www.linkedin.com/in/daniel-welling-54659715/  

Connect with Adam Morris on LinkedIn by clicking here – linkedin.com/in/adamcmorris

Visit The MSP Finance Team website, simply click here – https://www.mspfinanceteam.com/  

 

For more information on the Profit Protector click here: https://mspfinanceteam.com/profit-protector/