The Chancellor George Osborne delivered a “disappointingly political budget” with very little relief for business this week, according to Nick Paterno, legal services partner at McBrides Chartered Accountants.
The Chancellor announced a review into the continued use of deed of variation to cut inheritance tax and confirmed the introduction of penalties for professionals who assist with tax evasion.
Paterno adds that solicitors might be concerned that from next year the pensions lifetime allowance is to be reduced from £1.25m to £1m.
