Press Releases

March 2010

Budget is nothing new for contractors

Specialist Contractor accountancy firm, Danbro , has said there were no ‘major surprises’ in this year’s Budget, and that the Government has missed another chance to make some real positive changes for the SME sector.

Alistair Darling dubbed his third Budget, and his last before the general election, as the ‘Budget which would set out a route to long term recovery’ for the country’s weakened economy.

There was some help announced for the SME market in general, with a fundamental feature of this recovery plan being a package to increase investment in small and medium sized businesses. However, there was nothing that specifically targeted the contractor sector.

Damian Broughton, Danbro MD, said: “We were already aware of the major items in the Budget that will affect our clients. For example, the increase in National Insurance rates of 1% from 6 April 2011, the 50% income tax rate for people earning over £150,000 from 6 April 2010 and the restriction to tax relief for pension contributions for high earners.

“We are somewhat disappointed at yet another wasted opportunity. The government say that they want to encourage flexible working practices, but when the opportunity arises to introduce fiscal measures to encourage this, no action is taken.”

For more information, please contact Danbro on 0800 731 3178.

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For further details, please contact Danbro: 01253 600141, General Enquiries: 01253 600140, London Office: 020 7836 8400 or email enquiries@danbro.co.uk or send an enquiry.