Taking measures to avoid taxing times
LEADING Hitchin accountants Ashleys have launched a new performance measurement and improvement initiative to help the region s businesses beat the recession so that they can afford the extra �725 million the Chancellor needs to raise in taxes in North He
LEADING Hitchin accountants Ashleys have launched a new performance measurement and improvement initiative to help the region's businesses beat the recession so that they can afford the extra �725 million the Chancellor needs to raise in taxes in North Herts and Stevenage.
Launching the initiative after Alistair Darling's recent Budget, Ashleys' partner Brian Burke said: "Two things are already crystal clear. Firstly, this budget merely defers the pain. The real problem is that the already huge shortfall between spending and taxes looks set to grow even bigger as the true cost of the recession and the Government's rescue packages starts to be felt.
"As a result the Government already expects to borrow an extra �175 billion in the next year alone. Inevitably all of that extra borrowing will need to be repaid out of much bigger tax bills for all of us in the future. We estimate that, as a result, North Herts and Stevenage tax payers will end up being hit by a �725 million tax bombshell.
"The second thing that is already crystal clear is that it is the reaction of the region's job and wealth creating businesses that will determine whether those much bigger tax bills for North Herts and Stevenage can actually be paid for without making people worse off.
"Mr Darling is relying on economic recovery and growth leading us all to automatically pay more in tax as we earn and spend more. But, of course, that economic recovery and growth won't happen by accident. The region's businesses need to take urgent action to make it happen."
Mr Burke added: "The new performance measurement and improvement initiative is our way of helping Hertfordshire businesses take the right sort of action so that they beat the recession and jump to the top of the UK's recovery and growth league tables.
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"Using leading-edge software, systems and thinking, the initiative will help local businesses discover new ways to create more jobs, profits and wealth in these difficult times. It will also help to make sure that they pay no more than their fair share of tax."
If you would like to discover exactly how the free initiative can help you to beat the recession call Mr Burke on 01462 422555.