First Budget of the new Government - 09-06-2010First Budget of the new GovernmentGeorge Osborne has announced that he will deliver his first Budget on 22 June starting 4 weeks of rumour and speculation. It seems to be generally expected that the Capital Gains Tax rate of 18% will be increased – but how high? And when? Will Mr Osborne dare to backdate the rise to 6 April 2010? Some commentators believe the rise will be effective from Budget Day – resulting in a flurry of capital transactions as taxpayers try to avoid the rise. Another suggestion is that the Annual Exemption – currently a generous £10,100 per individual per year – will be drastically reduced. Another area of speculation is Corporation Tax. The Conservatives have pledged to reduce the main rate of CT to 25% - down from the current 28%. But how can Mr Osborne afford this? Will he increase the small company rate to 25% to compensate – or will he abolish the Annual Investment Allowance (whereby the first £100,000 of capital expenditure each year is given 100% tax relief)? | News: Government announces new measures to assist employers with apprenticeshipsGovernment announces new measures to assist employers with apprenticeships As part of the Government’s plan for growth, it has announced that it is... Email updatesEnter your email address for the latest information from dbparish. Login |
