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Early Xmas present...

… or a ticking time bomb? FRANCESCA LAGERBERG looks at what the Pre-Budget Report really did for small businesses


  • Loss relief carry back is extended.
  • Corporate tax rate and time to pay.
  • Income shifting held.
  • CT calculations to be simplified?
  • Capital allowances changes.
  • Personal tax rate and allowance changes.

The Pre-Budget Report (PBR) used to be a rather quiet affair. There was limited press interest. An often rather dull economic speech would be delivered followed by some vague outline of tax proposals. We would listen but we would really just be waiting until the main event: the Budget in the spring.

However the last two years have seen the PBR turn from the political equivalent of an amateur dramatic performance in the local town hall to a full blown West End pantomime set against the background of a global stage...

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