Category Archives: The Budget

More flexible pensions with latest proposal from the Budget …

Budget 2014 proved to be something of a surprise for many in the pensions industry. The industry has been calling for pensioners‘ income flexibility and choice at retirement to be widened, however the scale of the announcements in Budget 2014 …

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“Tax Evasion and aggressive tax avoidance – morally repugnant” – George Osborne

Ithica Publishing Services The recent budget announcement by the Chancellor included the “morally repugnant” comment above. In the same announcement he reduced the 50% tax rate because those rich enough to be eligible for it, have been avoiding it. Also …

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One more fling of the dice for high rate tax payers?

©Ithica Publishing Services The forthcoming budget is unlikely to bring much comfort to high rate tax payers. It seems very likely that changes will be made in tax legislation that will put a stop to some generous reliefs on pensions.  …

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Changes to Capital Allowances – so take advantage now!

free-foto.com If you are a business owner with a keen interest in reducing corporation tax, then you need to consider the changes to Capital allowances. From April 2012 the period of time over which businesses will obtain tax relief for …

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Small businesses doubt impact of the Budge

While the Budget may not have any adverse effects, small businesses have voiced scepticism over the benefits it will deliver, according to a recent snapshot survey. The poll, carried out by the Federation of Small Businesses (FSB), found that almost …

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Pace of recovery to be muted

Sat alongside the tax measures intended to stimulate growth and the reduction in fuel duty introduced in the Budget was the latest report from the Office for Budget Responsibility (OBR). Revised figures from the OBR predicted that growth for 2011 …

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Debate over Government review of income tax and NI merger

The Chancellor, George Osborne’s promise of a consultation on a possible merger of income tax and national insurance has prompted a question as to the extent of the review. In announcing the consultation in the Budget, Mr Osborne said that …

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Budget 2011: business reaction (II)

Business-friendly in tone but still leaving unanswered questions was how the British Retail Consortium (BRC) assessed the Budget. Reacting to the Budget, BRC director general Stephen Robertson said: “The Chancellor is right to stand firm on austerity measures to bring …

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Budget 2011: business reaction (I)

By and large, business groups extended a welcome to the Budget, but some expressed doubts about whether the Chancellor had done enough to stimulate a private sector led recovery. The Federation of Small Businesses (FSB) thought some announcements in the …

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Budget 2011: corporation tax to be cut

There was good news for larger firms in the Chancellor’s second Budget as he announced a further cut in corporation tax. As part of the Government’s strategy for growth, Mr Osborne said that corporation tax will be reduced by 2 …

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Budget 2011: Speech headlines

The Chancellor has concluded his Budget speech. We are now in the process of updating our Budget Report and putting together a series of news articles. However, the headline news from the Chancellor’s statement is: Economy Budget to set out …

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Use Budget to support private lenders, says business group

The Forum of Private Business (FPB) wants the Chancellor to use the Budget to boost incentives for private lenders to businesses. The FPB believes that lower tax bills would encourage more high net worth individuals to lend to small businesses, …

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Fuel duty may be held in the Budget

The Chancellor may be planning a freeze on fuel duty in the forthcoming Budget. Interviewed on the BBC, Mr Osborne indicated that he is giving serious consideration to keeping fuel duty on hold. The planned 1p per litre increase is …

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Possible fuel duty concession in the Budget

The Chancellor, George Osborne has hinted that he may be willing to review the imminent rise in fuel duty. With the Budget due to be announced on 23 March, Mr Osborne, speaking after an ‘on the road’ cabinet meeting in …

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Chancellor wants ideas for the Budget

The Chancellor, George Osborne has flagged up a new online portal, designed to elicit ideas from the public and from businesses for the forthcoming Budget. The portal allows anyone to send their ideas direct to the desks of the Treasury …

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Timing of the Chancellor’s autumn statement uncertain

The government has ruled out an official pre-Budget Report for this year, but has suggested that the Chancellor may make an autumn statement. One of the possible dates put forward for such a statement has been 29 November. However, no …

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Chancellor sets 2011 Budget date

Next year’s Budget will be delivered on 23 March. The date was announced by the Chancellor, George Osborne as he was giving evidence to the House of Commons Treasury Select Committee on the consequences of October’s Comprehensive Spending Review. Mr …

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Health and safety rules stifling businesses

The government’s review of the UK’s health and safety laws needs to concentrate on removing administrative barriers to enterprise and business growth, according to the Forum of Private Business. The  FPB argued that employers want a ‘common sense’ approach to …

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Fuel duty increase will hinder growth, says AA

The latest rise in fuel duty could have an adverse impact on the recovery, motoring organisation, the AA, has claimed. As from 1 October, an additional 1p is being levied per litre of petrol and diesel. But Edmund King, president …

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Consumer Confidence on the Up

Consumer confidence climbed in August for the first time in six months, new figures have revealed. This despite the looming austerity measures to be introduced by the government. According to the GfK NOP consumer confidence index, optimism among consumers rose …

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