Our next Breakfast Forum will be on Friday 15 October – see below for details.
Our July Breakfast Forum (the last before the summer break) looked at the impact of the Budget on employers. It was led by Hugh Summerfield, a director of the WK Finn-Kelcey, chartered accountants and business advisers based in Ashford.

WK Finn-Kelcey prepared an Emergency Budget report, written immediately after the Chancellor of the Exchequer, George Osborne, delivered his Budget Speech. It is intended to provide an overview of the announcements most likely to affect you and your business, and you can read it here.

At the forum, Hugh explored the various aspects of the Emergency Budget, explaining in particular what he felt would be the impact on businesses of the various tax changes. Below is a brief outline of his presentation.

Hugh welcomed some of the announcements, others less so. In general he approved the Coalition’s policy of deregulation, which has also been backed by the British Chambers of Commerce and Industry (BCCI).

The moratorium on pay increases will lead to more people looking for other jobs and a more transient workforce, which is a cost to the employer. Changes in business rates may stop someone going into business. However the Government has acknowledged this and will be offering help to small businesses.

The Chancellor has reduced Corporation Tax for larger companies, which Hugh believes is an incentive for foreign companies to set up in Britain, as many have done in Ashford in recent years.

Benefits payable on company cars have increased. Effectively this has no impact on employment but may change the structure of salary packages. It will also impact on the motor industry and the companies who supply that industry, many of which are based in this part of Kent.

The increase in the minimum wage will impact on the cost of domiciliary care. It also affects professional firms like WK Finn Kelcey who pay minimum wage rates to those undergoing training. As a consequence the firm has now decided to decrease its annual graduate intake from three to two.

Like the House of Commons the Breakfast Forum will now take a summer break and there will be no meetings during August and September. We would like to take the opportunity of wishing all our members an enjoyable and relaxing summer and look forward to welcoming you back in October.

October Breakfast Forum
Friday 15 October - Full scale review of the new Government’s employment policies and in particular the implications for temporary workers and the equality agenda.

November Breakfast Forum
Friday 19 November – Pensions. This forum will be led by Simon Webster of Facts and Figures Chartered Financial Planners.