Budget 2011
Budget 2011 was heralded as an extremely important day for the country, both in terms of continuing the process of reducing the annual deficit between income and expenditure but also in terms of re-building the country’s reputation internationally. Leading up to this budget, and following the release recently of the Government’s “National Recovery Plan”, there has been much speculation and commentary on the potential inclusions in this year’s budget. Releasing, by way of ‘leak’, information in advance is thought to cushion the blow when the actual budget detail is released. I think it is fair to say that the early release of detail has not had that effect on this occasion. The scale of the adjustment is such that, regardless of what we suspected in advance of the actual Budget speech, a deep intake of breath was required as one sought to analyse what this budget meant for each citizen of the State and in particular for the businesses operating in the State that will ultimately drag the country out of the financial difficulties in which it finds itself.
Our tax experts set out in this newsletter the details of the budget with commentary on how it will affect both individuals and businesses, quoting actual examples given by the Department of Finance. We encourage our clients and business acquaintances to read our coverage and to contact us via our special budget email address (tax@bakertillyrg.ie) with your specific queries. Our experts will respond to your query and will advise you on the appropriate response to budget changes and to proposed changes flagged in the Government’s afore-mentioned “National Recovery Plan”.
This is another of a series of tough budgets with more to come. Never has there been a more appropriate time to prepare a tax plan to bring you through this difficult financial time. We are available to meet with you to discuss options and tax minimisation strategies to ensure that budgetary changes have the minimal impact on your private wealth and business operations. I look forward to hearing from you.
Please click here to view our commentary and analysis.
Kind regards,
Aidan Byrne
Tax Partner
