Video Report: BDO Expert Reaction to PBR

TERRY Jones, tax partner at accountants BDO in Leeds gives his reaction to the Chancellor’s critical Pre-Budget Report.

Mr Jones highlighted the “record levels of borrowing” both this year and next and said that while there were some business benefits, including a new 10% tax rate on income from patents, firms would be hit hard by the rise in National Insurance.

He said that the Chancellor had “tried not to chalk off any nascent recovery we have had”.

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