Clive Owen LLP

“Despite the revolving door in the cabinet, Jeremy Hunt remains in his position as chancellor, which shows that the prime minister has faith in his chancellor. In September, the chancellor suggested he would not be in a position to cut taxes or increase public spending with the country on the cusp of a recessions. I’d suggest that there will be further announcements in respect of R&D, including the abolishment of the SME R&D scheme. In addition, there was a rumour that inheritance tax would be abolished but that seems unlikely, however, do not rule out some reforms being proposed. Finally, given that there will be a general election in the next financial year, the chancellor may suggest future tax cuts to attempt to win votes including potential tax breaks to get those that have retired early, back into the workplace.”