| Greetings!
I am sure by now you must have heard some significant changes made in this pre budget report. The government is taking action to revive the economy. They are putting in a package of £20bn to revive the economy and I am sure it will revive.
There is a cost which we should not forget. In couple of years time to cover the fiscal deficit they will be left with no choice but to increase taxes. So lets use these next couple of years to earn and save more. |
| Great Budget for Small Businesses and Limited Company Contractors |
|
This Budget has got noting to moan about. Its all good news
1.VAT is reduced to 15%
2 Corporation tax Rate of 22% is postponed to April 2010
3.Income Shifting legislation is deferred again
4.Losses can be carred back to 3 years upto £50,000
5.Business Support and Payment helpline.
There is some clawback intended by government. From April 2010 those in the bracket of £100,000 will see their personal allowances either reduced to half or no personal allowances for tem. From April 2011 Income over £150,000 will be taxes @ 45%.
Government is also increasing from April 2011 NI for employer, Employee and self employed by 0.5%. |
| Check Full Details |
|
If you wish to read the general Pre Budget Report please email me and I will be happy to forward the report to you.
At DNS none of our tax planning is affected and its business as usual. |
