Is the Chancellor
just postponing the inevitable? |
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Alistair Darling has taken a huge gamble to limit the effect of possibly the worst recession since the 1930s, with everything to be scraped back after the next election. Clearly the tax breaks and benefit increases, apart from the temporary VAT rate reduction, are targeted at those on the lowest incomes in the hope that they will spend the money immediately rather than put it in the bank.
Businesses have not been forgotten with a reduction in the expected rate of corporation tax for small companies - welcomed by those who have profits on which to pay tax! Extended loss relief and the ability for businesses to delay tax payments will be welcomed. In April 2011 the real reckoning will begin when the highest rate of income tax will exceed 40% for the first time since 1989 - but what will be the outcome?
To download our analysis of our Pre-Budget Reports, click on the bullet below:
Please contact Tom Elliott or Steve Livingston if you have any further queries regarding the Pre-Budget Report.
Are you prepared for the VAT rate change-1 December 2008?
As previously heralded, the standard rate of VAT will decrease for 13 months with effect from 1 December 2008. The new headline rate will be 15%.
The period between now and 1 December will allow businesses to restructure their VAT affairs to reflect the change.
So what should you look out for? Click here to read more.
To read HMRC's Annex A: CRM Brief - Key Messages for Business, click here.
To download HMRC's revised fuel scale charges (Annex D), click here.
For HMRC's flat rate scheme charges (Annex E), click here.
To download the HMRC "A detailed guide for registered businesses", click here.
Horwath Clark Whitehill LLP
Arkwright House
Parsonage Gardens
Manchester
M3 2HP
To download a pdf map and directions please click here.
Email: manchester@horwath.co.uk
Tel: 0161 214 7500
Fax: 0161 214 7501 |
Urbis Museum |
As the UK's second largest commercial and financial centre, Horwath Clark Whitehill's Manchester office is ideally situated to serve the businesses of the region.
The office, headed by Managing Partner Michael Jayson, has five partners.
We offer a full range of accounting, audit, assurance, tax and financial planning services from our Manchester office. Our clients range from small to medium sized businesses to quoted companies, charities and professional partnerships.
