21.03.07 Budget - no good for alcoholic, 4 by 4 driving, solicitors on the high street!
Budget day today, and we have just noticed what effect this will have on lawyers at smaller to medium firms. Firstly, getting to work will mean extra money paid out, especially if you drive a 4 by 4 (up to £300 extra I think!), and you will probably get angry client farmers telling you how unfair it is for them as well! Once you are there, you will be horrified to discover that if you are a limited company your tax will have gone up from 19% to 22% over the next few years, but that if you get up to 1.5 million in profit you will find your tax going down (makes great sense!). At lunchtime when you pop out to down your first bottle of wine, you will find the cost has gone up by 5-6p, and when you smoke your pack of Bensons this has also gone up.
At least if you send your staff on a research and development project you can claim 175% of the cost of doing so. I would aim to build a carbon neutral house as quickly as possible, and whack a wind turbine on top of it. Ditch the 4 by 4 and get an electric car, and give up the booze (on a serious point here LawCare is a good place to look for advice - www.lawcare.org
Jonathan Fagan, MD of Ten-Percent Legal Recruitment - no.1 online UK legal recruitment agency - save time, skip the legal job boards and let us do the work - register online at www.ten-percent.co.uk/register.htm
Budget day today, and we have just noticed what effect this will have on lawyers at smaller to medium firms. Firstly, getting to work will mean extra money paid out, especially if you drive a 4 by 4 (up to £300 extra I think!), and you will probably get angry client farmers telling you how unfair it is for them as well! Once you are there, you will be horrified to discover that if you are a limited company your tax will have gone up from 19% to 22% over the next few years, but that if you get up to 1.5 million in profit you will find your tax going down (makes great sense!). At lunchtime when you pop out to down your first bottle of wine, you will find the cost has gone up by 5-6p, and when you smoke your pack of Bensons this has also gone up.
At least if you send your staff on a research and development project you can claim 175% of the cost of doing so. I would aim to build a carbon neutral house as quickly as possible, and whack a wind turbine on top of it. Ditch the 4 by 4 and get an electric car, and give up the booze (on a serious point here LawCare is a good place to look for advice - www.lawcare.org
Jonathan Fagan, MD of Ten-Percent Legal Recruitment - no.1 online UK legal recruitment agency - save time, skip the legal job boards and let us do the work - register online at www.ten-percent.co.uk/register.htm
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