Another successful Weymouth and Portland Chamber of Commerce breakfast meeting took place at Vaughan’s Bistro on the harbourside with nearly fifty members and guests attending. President Andrew Knowles welcomed everybody to the final meeting of the year at yet another new venue to the Chamber.
The meeting was sponsored by Albert Goodman Accountants and Advisors and their Managing Partner Richard Bugler made an excellent presentation on the Autumn Budget somehow actually creating humour out of such an event!
Richard as ever manages to make the difficult topic of the Budget interesting and highlights the points worth taking note of for any business. He started on a humourous note comparing the budget with Brexit and the Ashes cricket situation!
With the budget there was some good news – the under 30’s railcard incentive, no duty increases, no suspected VAT increase after all and an increase in the tax allowances. We even have a local MP Oliver Letwin dealing with planning delays. “I can see him (Oliver Letwin) now donning his wellington boots and plodding the sites up and down the country” said Richard.
However, Richard did feel the losing points were the lack of encouragement for business investment. The allowance of £200,000 was kept bot so few are aware of the opportunities “And certainly many MP’s are unaware of this” added Richard. “Businesses with cash deposits earning so little interest, could be lending that money to businesses with tax breaks to encourage development and growth”.
Not enough is being done to help businesses with such high Business Rates, sadly too many businesses are closing down because of these. And training in businesss, Richard felt does still not get enough support.
“The tax saving opportunities currently available” Richard said “were missed by so many people in business”. For example – sharing income with a partner, fully using investment allowances, say for energy efficiency. So many qualify for the very generous Research and Development incentives. Points to look at include share options to incentivise staff, pensions, inheritence tax, wills and Powers of Attorney
President Andrew thanked Richard for his enlightening talk and Albert Goodman for their sponsorship. Andrew reminded everyone that 2018 is the 100th year of the Weymouth and Portland Chamber of Commerce and the executive are working hard with some themes but welcome input from members with ideas or those who would consider joining the Chamber executive. “The Chamber exists to help and develop business through its membership but it does need feedback” said Andrew. He look forward to meeting everyone in the new year at the January meeting with Richard Drax MP and the next breakfast and the AGM in February.
NB: If you have ideas, venues for Chamber breakfast meetings or would like to join the Chamber executive contact Guy in admin. at firstname.lastname@example.org