With the General Election due to take place tomorrow we are all heading for a torrent of promises leading up to polling day. While manifestos may contain plans, promises and policies – we will only know what actions the new government will take when they are in power. (more…)
Posts Tagged ‘Gordon Brown’
UK General Election: 6 May
Wednesday, May 5th, 2010Inheritance tax
Friday, February 5th, 2010Reviewing your inheritance tax strategy on a regular basis is an important part of tax planning, and the tax year end is a good time for a quick ‘maintenance review’. (more…)
Pre Budget Report 2009 – a personal view
Monday, December 21st, 2009More tinkering with the economy = Another missed opportunity
One simple measure could have been taken to reinforce the elements of cost control and economy – like actually raising the VAT rate to 20% (rather than just back to 17.5%). (more…)
Pre-Budget Report 2009
Thursday, December 10th, 2009Your guide to the Chancellor’s Statement I 9th December 2009
Alistair Darling’s announcements include unexpected tax increases
In his final Pre-Budget Report before the next General Election, Alistair Darling faced the twin dilemmas of a soaring public finance deficit and a recession-driven reduction in Government income. While conceding that the economy in 2009 had shrunk by more than previously forecast, the Chancellor stuck to his predictions for a modest return to growth in 2010.
The Chancellor also outlined Government ambitions to reduce the budget deficit by half within four years. Some spending cuts were put forward, including a planned public sector pay settlement cap. As for boosting Government income, VAT returns to a standard rate of 17.5 per cent (though no higher as some feared) and there is to be a further increase of 0.5 per cent in employers’ and employees’ national insurance contributions as from April 2011. Time will tell whether Mr Darling’s final Pre-Budget Report speeds the slow economic recovery. (more…)
Budget 2009 – a personal view
Thursday, November 5th, 2009Another year, another budget, another waste of time.
All the big decisions have already been taken bailing out profligate banks. And therefore nurturing growth should have been the cornerstone for this one.
Instead we have punitive personal taxes including marginal rates of up to 61.5%; a reduction in tax relief on personal pension contributions – and, hidden in the small print, company pension contributions will be treated as a taxable benefit. This will be the final nail in the coffin of the final . Gordon Brown – having started the process with the abolition of the pension tax credit some years ago. So, stifled net income, and stifling company contributions. Welcome to the nanny state.
For a summary of the main points, these can be found on our website. (you will need to be registered in order to view certain content)
nil desperandum
Kevin Beare FCA
