Serving over 2 Million visitors each year

Search
Free Accounts Software for All Small Businesses
You can now download TAS Basics for FREE. It’s the complete working program and there’s no charge, no obligation and no time limit. Get it now!

Pre-Budget Report date set for 9th December 2009

print  e-mail 

The Chancellor has announced that his much-anticipated Pre-Budget Report will be delivered on 9th December.

In addition to the planned tax hikes which were announced in the last Budget, Alistair Darling is widely expected to either extend the hikes we are already expecting, or introduce new tax raising measures.

Tax increases in April 2010

A new 50% income tax rate is due to hit taxpayers earning over £150,000 from April 2010. Of course, it is possible that the Chancellor may decide to lower the threshold.

The personal allowance will be reduced by £1 for every £2 earned over £100,000, meaning that taxpayers will be paying an effective 60% income tax rate on income between £100,000 and £112,950.

Dividend tax will rise from 32.5% to 42.5% for people earning over £150,000. The current 10% and 32.5% rates will remain unchanged as things currently stand.

As if these hikes weren't enough, the small companies corporation tax rate is also due to rise from 21% to 22% from April. This will directly hit the pockets of most small incorporated businesses in the UK.

The current Capital Gains Tax rate may also rise from 18% to 25% if predictions by several large accountancy firms are correct.

We will update Bytestart with the latest developments and predictions in the lead up to the PBR on 9th December.

Posted November 11, 2009

Latest articles in Budget 2010
 
Emergency Budget - what are the key personal tax changes?
An overview of the main personal tax changes announced in the Emergency Budget, including changes to income tax, taxable bands, NICs, and pensions. [June 24, 2010]
 
Emergency Budget - what are the key business tax changes?
The key business tax changes announced in this week's Budget, including changes to Corporation Tax, NICs, VAT, Capital Allowances, and other business measures. [June 24, 2010]
 
Business world welcomes "no pain, no gain" Budget
Business groups have generally welcomed the measures contained in the Emergency Budget. Although most people in the UK will be affected by the spending cuts and tax increases, small businesses seem to have been spared the pain which some experts have predicted. [June 23, 2010]
 
Emergency Budget - Key Points
The key points from today's Emergency Budget - VAT will rise to 20%, CGT for higher earners will rise to 28%, and corporation tax will decrease from 2011... [June 22, 2010]
 
Small businesses stand by for Emergency Budget measures
The chancellor is set to deliver his "Emergency" Budget from 12.30 today. As ever, we will report updates here on Bytestart as soon as the announcements are made. [June 22, 2010]
 
Leading accountants give their emergency budget predictions
Leading accountants and tax advisers, PricewaterhouseCoopers LLP, have released their comprehensive predictions for the emergency budget on June 22nd. [June 14, 2010]
 
Emergency Budget - what can small businesses expect on June 22nd?
The 'Emergency Budget' is the most anticipated in a generation. With the public finances in a dire state, what can small business owners expect from the Chancellor on June 22nd? [June 2, 2010]
 
Emergency Budget date announced by Chancellor
George Osborne has announced that the coalition's Emergency Budget will be on Tuesday June 22nd, 2010. [May 17, 2010]
 
Budget 2010 - Summary of main points for small businesses
Following the Budget speech, we will update this page with the main points, as they affect small business people. [March 24, 2010]
 
Budget 2010 - how to follow proceedings
When the Chancellor delivers his Budget today, we will update Bytestart with the key points - those which are relevant to small businesses in particular. [March 24, 2010]
 
Budget 2010 - Accountant warns of further NIC and income tax rises to fund deficit
With the pre-election Budget just days away, a leading accountancy firm suggests that good news for employees is unlikely, with further rises in income tax needed to cut the national debt. [March 19, 2010]
 
Accountants not in favour of National Insurance increase
With Budget 2010 just weeks away, a leading accountancy body has polled its members to see whether the UK's budget deficit was best dealt with by either cutting public spending, or increasing NI contributions. [March 12, 2010]
 
Budget 2010 date set for 24th March
The Chancellor, Alistair Darling, has confirmed that the Budget will be unleashed on 24th March, just weeks before the expected date of the General Election. [March 10, 2010]
 
Pre-Budget Report 2009 - Key Points
The key points from the 2009 Pre-Budget Report which includes a delay in the proposed hike in the small companies' corporation tax rate, and freezes to income tax and NIC rates and allowances - aside from the pre-announced new rate of tax for higher earners. [December 9, 2009]
 
Leading accountancy firm gives Pre-Budget Report predictions
KPMG has given its Pre-Budget Report predictions - the firm suggests that individual taxpayers, particularly higher earners, will be eyeing Wednesday's announcement "a little nervously"! [December 7, 2009]
 



Click Here





Our Partners
Key Services
Key Services
Useful Guides
Click Here

© Bytestart Limited 2005-2010 - All Rights Reserved | Terms of Use | Site List | Website Feeds | Rss Feed RSS Feed

Business Insurance, Business Bank Accounts, Public Liability Insurance, Professional Indemnity, Startups, Limited Company, Sole Trader