From time to time, we produce information for clients on a number of topical and important issues, some of which can be found below:
March 2011
The Budget 2011
Chancellor of the Exchequer George Osborne billed his second Budget as a “Budget for growth”, telling MPs that it was an “urgent call to action for Britain”. His main ambitions, he said, were to ease the economic burden on families and businesses while promoting Britain as the best place to do business in Europe.
November 2010
The Autumn Budget 2010
29 November 2010
Chancellor of the Exchequer George Osborne has given his Autumn Budget Statement, in response to the latest forecasts for the UK economy released by the independent Office for Budget Responsibility (OBR). Unlike in previous years, the Chancellor did not make any major tax or spending announcements this Autumn, with those instead being put on hold until the next Budget, which will take place on 23 March 2011.
March 2010
The Budget 2010
24 March 2010
Chancellor of the Exchequer Alistair Darling delivered the last budget of this parliament at a time when the focus has shifted slightly from tackling the recession to how to deal with the large amounts of debt built up in doing so. While the economic data over recent months has been decidedly mixed, most economists agree a recovery of sorts is under way for now, although some fear the economy could slide back into recession unless a credible plan for dealing with the budget deficit is presented. With a general election only months away, normally a ‘giveaway’ budget could be expected, but the state of the public finances has largely prevented this.
December 2009
The Pre-Budget Report
10 December 2009
Chancellor of the Exchequer Alistair Darling delivered this year’s Pre-Budget Report at a time of great uncertainty for the UK economy. While the recession appears to be levelling out, and there are even some tentative signs of recovery, most economists agree that the road ahead will be a rocky one, with rising unemployment and high levels of personal and government debt likely to have a negative impact. The need to reduce the current record levels of government borrowing has hampered the government’s ability to offer standard pre-election giveaways, with several tax rises already on the horizon and increased measures to clamp down on avoidance.
April 2009
The Budget Announcement
22 April 2009
Chancellor of the Exchequer Alistair Darling has delivered a Budget Report against a background of recession and with little in the way of good news for UK business in the short to medium term.
November 2008
The Pre-Budget Report 2008
Chancellor of the Exchequer Alistair Darling has delivered a much-anticipated Pre-Budget Report against a backdrop of economic slowdown and turbulence in the global economy, which has steadily deteriorated since the 2008 Budget on 14 March.
September 2008
Gift Aid Transitional Relief
Charities are entitled to claim a tax repayment in respect of gift aid donations made by individuals. The tax repayment was 22% until 5 April 2008 being the basic rate of tax on payments made through gift aid. As you are no doubt aware the basic rate of tax was reduced to 20% from the beginning of this tax year. In order to compensate charities for this drop in income the government has introduced Gift Aid Transitional Relief which tops up the tax repayment due to the charity until 5 April 2011.
Reducing Employers’ Administration
The Department for Business, Enterprise & Regulatory Reform (BERR), has launched a campaign advising employers on how they can reduce the amount of administration involved in dealing with their employment law obligations. The BERR believe that some employers are routinely over-complying or duplicating work.
NMW Changes
HMRC have announced that some changes to penalties and calculation of arrears of National Minimum Wage (NMW) payments have been delayed to April 2009. The delay is apparently due to the slower than expected passage through parliament of the Employment Bill.
