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No great changes, just some minor adjustments to the works. PETE MILLER looks at the corporation implications of the pre-Budget report
KEY POINTS
- Tax reduction for small companies tax increases for bank bonuses.
- Will National Insurance contribution increases encourage incorporation?
- Improvements to tax legislation relating to worldwide debt cap R&D films and accounting standards.
- Anti-avoidance provisions are tightened up.
On 9 December 2009 the Chancellor of the Exchequer Alastair Darling gave his pre-Budget report.
This must have been a very difficult report to prepare given not only the extremely precarious state of the UK’s finances in the context of the worldwide economic downturn but also the fact that this is the last pre-Budget report of the current parliament.
It is not clear how many of the measures announced will be enacted in the Finance Bill 2010 and how much might be deferred for enactment or not by...
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