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We have been providing businesses throughout East Yorkshire with qualified accountancy and taxation advice for over 20 years. From business start-ups to established companies our team will provide you with the advice and expertise needed to assist in helping to drive your business forward.

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Chancellor Philip Hammond Has Delivered The Autumn 2018 Budget.

Key Budget Points ...

The state of the economy

  • Era of austerity is "finally coming to an end", the chancellor says
  • 2018 growth forecast upgraded to 1.6% from 1.3% last year and 1.5% in March
  • Economy predicted to grow 1.4%, 1.4%, 1.5% and 1.6% in 2019, 2020, 2021 and 2022 respectively.
  • 3.3 million more people in work since 2010
  • Wages growth at its highest in nearly a decade
  • Extra £500m for preparations for leaving the EU
  • Spring Statement next March could be upgraded to full Budget if needed
  • A commemorative 50p coin to mark the UK's departure from the EU
Stamp duty and housing
  • All shared equity purchases of up to £500,000 to be exempt from stamp duty
  • £500m for the Housing Infrastructure Fund, designed to enable a further 650,000 homes to be built
  • Lettings relief limited to properties where the owner is in shared occupancy with the tenant
  • New partnerships with housing associations in England to deliver 13,000 homes
  • Guarantees of up to £1bn for smaller house-builders
Environment and energy
  • A new tax on non-recycled plastic packaging
  • No tax on takeaway coffee cups but this will be reconsidered if the industry doesn't make enough progress
  • £60m for planting trees in England
  • £10m to deal with abandoned waste sites
Defence and security
  • An extra £160m for counter-terrorism police
  • An extra £1bn for armed forces, for cyber-capabilities and the UK's new nuclear submarine programme
  • £10m for mental health care for veterans, to mark the centenary of World War One Armistice
  • £1.7m in Holocaust education programmes to mark the 75th anniversary of the liberation of Bergen-Belsen concentration camp, in northern Germany

The state of the public finances

  • Public borrowing in 2018 to be £11.6bn lower than forecast in March, representing 1.2% of gross domestic product, (GDP) the total value of goods produced and services provided
  • Borrowing forecast to £31.8bn, £26.7bn. £23.8bn, £20.8bn and £19.8bn in next five years
  • Debt as share of GDP peaked at 85.2% in 2016-17, falling to 83.7% this year and to 74.1% by 2023-24
  • 1.2% annual average growth in departmental spending promised
Personal taxation and wages
  • Personal allowance, the rate at which people start paying income tax, to rise from £11,800 to £12,500 in April - a year earlier than planned
  • The higher rate income tax threshold to rise from £46,350 to £50,000 in April
  • Fuel duty to be frozen for ninth year in a row
Welfare and pensions
  • Work allowances for universal credit to be increased by £1.7bn
  • 2.4 million working families with children to benefit by £630 a year
  • An extra £1bn to help welfare claimants transfer to new consolidated benefit
Business and digital
  • New digital services tax on UK revenues of big technology companies, from April 2020
  • Profitable companies with global sales of more than £500m will be eligible
  • Private finance initiative (PFI) contracts to be abolished in future
  • New centre of excellence to manage existing deals "in the taxpayer's interest"
  • Annual investment allowance to be increased from £200,000 to £1m for two years
  • Contribution of small companies to apprenticeship levy to be reduced from 10% to 5%
  • Business rates bill for companies with a rateable value of £51,000 or less to be cut by third over two years
  • Measure to benefit 90% of independent companies, cutting bill by £8,000
  • £900m in business rates relief for small businesses and £650m to rejuvenate High Streets
  • New mandatory business rates relief for all lavatories made available for public use, whether publicly or privately owned
  • Extending changes to the way self-employment status is taxed, from the public sector to medium and large private companies, from 2020

Payroll Services

We offer a full payroll service for your business, which offers many advantages to you and your business. We will ensure that all requirements under the new Real Time Information (RTI) system are being met by your business. Alternatively we will assist in the setting up of your own payroll service advising on the best software for your needs and how to operate it.

Company Audits

Audits and Independent Reviews still remain the most valuable means of giving your business credibility as they assist in the improvement of management information, provide reassurance for stakeholders and/or trustees, and can identify potential weaknesses and how to alleviate them. Audits and reviews give businesses an independent opinion regarding the completeness and accuracy of their financial statements for a given period.

Banking Advice

Cameron, Ferriby & Co has a long established and respected place in the local banking fraternity and will work with you and your business to establish its banking needs ensuring you are receiving the best service the business banking sector has to offer.

Specialist Service

Take a few minutes to visit our video media page where you can watch a range of selected videos, catch up on Chancellor statements and budget speeches as well as more details on why using an ICAEW Chartered Accountant is important to your business. great with a coffee!

Visit our media page

Client Testimonals

Live Business & Financial News

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Crossrail 'could be delayed until 2021' Posted on Thursday April 18, 2019

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Facebook copied email contacts of 1.5 million users Posted on Thursday April 18, 2019

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Webinar resources Posted on Thursday January 01, 1970

Thank you for registering on to the Business and Management Faculty's webinar, GDPR update, broadcast on 17 April 2019.

Retail therapy Posted on Thursday January 01, 1970

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M&A and the CFO Posted on Thursday January 01, 1970

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Alternatives to plastic part 2 Posted on Thursday January 01, 1970

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Design your online marketing strategy Posted on Thursday January 01, 1970

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Special report: Risk management - a guide for finance professionals Posted on Thursday January 01, 1970

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Special report: Internal control from a risk-based perspective Posted on Thursday January 01, 1970

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Special report - Strategic planning Posted on Thursday January 01, 1970

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The marketing and finance relationship Posted on Thursday January 01, 1970

As technology is changing the way we work, so the relationship between marketing and finance needs to evolve for continued success. Chris Lawson explores ways to put this into action.

Doing fast fashion sustainably Posted on Thursday January 01, 1970

Fast fashion presents a rare success story amid the UK’s tricky retail climate. Lucy Douglas explores how retailers maintain profitability despite sustainability concerns.

The business administration process Posted on Thursday January 01, 1970

Business is easy – as long as your assets exceed any liabilities. But what happens when they don’t? Pádraig Floyd explores the unsettling subject of administration.

Cyber strategy Posted on Thursday January 01, 1970

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Business VAT update 2019 Posted on Thursday January 01, 1970

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Business and Management Faculty webinars and events Posted on Thursday January 01, 1970

Stay up to date by attending our 2019 webinars, either at Chartered Accountants’ Hall or in the comfort of your home.

Essential employment issues Posted on Thursday January 01, 1970

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How to find the right NED Posted on Thursday January 01, 1970

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Defining cryptocurrency Posted on Thursday January 01, 1970

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Change of leadership at the SFO Posted on Thursday January 01, 1970

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Electric truck maker Rivian says the company is more than just hype Posted on Friday April 19, 2019

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Jet Airways: Taking the last flight of India's stricken airline Posted on Thursday April 18, 2019

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The workers juggling careers and caring Posted on Thursday April 18, 2019

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The robot that tidies up bedrooms Posted on Wednesday April 17, 2019

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Why jobs are dominating the Indian election Posted on Tuesday April 16, 2019

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VW boss 'not aware' of China's detention camps Posted on Tuesday April 16, 2019

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What does the world's largest single-building airport terminal look like? Posted on Monday April 15, 2019

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Nextdoor CEO: 'Customers bring some of the best ideas' Posted on Monday April 15, 2019

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Hammond: European elections a pointless exercise for UK Posted on Friday April 12, 2019

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