James Shipp

For those who were hoping for high profile policy announcements in this year’s Spring Statement, the Chancellor was clear that they would be disappointed.

Tax savings are not the only consideration for company car drivers ‘going green’ and more and more often we are seeing a reversal of the green revolution.

Yesterday’s chaotic leaking of Rachel Reeves’ Budget report by the OBR capped a turbulent few months in which constant briefings have had the effect of damaging business confidence, reducing investment and causing a certain stasis in the economy.

My colleague Ed Passmore wrote in Wednesday’s EDP that businesses shouldn’t expect too much from Chancellor Rachel Reeves’ spring statement, and he wasn’t wrong – there was precious little which will directly affect business.  But that doesn’t mean that there weren’t a few nuggets of interest.

Given how much of the Chancellor’s Budget had already been signposted, businesses shouldn’t really have been expecting anything other than financial pain – and that is indeed what Rachel Reeves delivered.

With most commentators predicting that Chancellor Rachel Reeves will turn her attention to capital taxes in the forthcoming Budget, those who run a bed and breakfast from their own home face a complicated situation, says James Shipp of Lovewell Blake.

Good financial management is essential, especially in businesses where seasonality and variation is such an important factor. The high season needs to be properly managed to maximise profitability. Building in flexibility to your operations and scaling down efficiently without losing good staff long term or over stocking basic consumables is key to ensuring your business remains profitable.

Those expecting a buccaneering pre-election Budget from Jeremy Hunt will be feeling rather let down: this was a modest affair, full of measures which had been pre-briefed, and without even the traditional rabbit pulled out of the hat to please his own backbenchers.

Under a current review being undertaken by law makers, small business owners could soon be disclosing much more on the public record than has been required for many years.