The Emergency Budget on 22 June 2010 delivered a raft of changes designed to align government spending with income over the lifetime of the current Parliament. The announcement received mass coverage regarding the changes to corporation tax, capital gains tax and the increase in the standard rate of VAT on 4 January 2011. If there are aspects of the announcements that you would like to discuss, please do contact us.
The UK is clearing in for a difficult time as the Government pursues its twin policies of reducing the public debt and returning the economy to strong growth. It is also likely to be a time when we will see many changes to the tax regime for both businesses and private individuals.
So we thought it might be worthwhile to devote a couple of posts to follow at the agency the Government relies upon to collect its taxes – HMRC. Governments come and governments go, but HMRC remains as an organisation that has its own culture, its own modus operandi, and its own strengths and weaknesses – and business owners and individual taxpayers alike would be wise to understand these – for they ignore them at their peril.
Tags: higher tax rate, tax planning, UK Corporation Tax, UK VAT
