This Report, which was written immediately after the Chancellor of the Exchequer delivered his Budget Speech, is intended to provide an overview of the announcements most likely to affect you or your business.
Throughout this guide we have included tips and ideas for effective tax and financial planning, but it is important to remember that this planning should be an ongoing, year-round process, not something that is left until the last minute.
We can help you to reassess your plans regularly, and adapt them as your personal and business circumstances change. With our help, you can plan for a rewarding and financially secure future.
Please note: while most taxation changes take effect from the start of the financial year, or tax year, some may not take effect until 2009, or later. Where relevant, details of these changes have been included in this Report. Throughout the Report, 'HMRC' refers to HM Revenue & Customs.
Billed as a 'responsible' and 'green' Budget, the environment found its way to the top of the agenda in Chancellor Alistair Darling's debut Budget speech.
Darling used his first Budget statement to introduce a series of measures aimed at reducing the UK's carbon emissions, including a new zero rate of car tax to be levied in the first year for new, low polluting vehicles — a measure that was part of a wider reform of vehicle excise duty.
Despite attempts to prove his 'green' credentials, the Chancellor declared that a 2p increase on fuel duty will be postponed from April to October this year to help the country through the current 'credit crunch'. The Chancellor told MPs that the credit crunch posed a 'major risk to the world's economy'. As a consequence, Darling has revised the economic growth predictions that were made in his Pre-Budget Report last October.
Growth forecasts have been cut for 2008 to 1.75%-2.25%, a substantial reduction on the original 2.5%-3%. Darling has also advised that public borrowing will increase to £43 billion next year, rather than fall to the £36 billion he had anticipated.
Darling's brief reign as Chancellor has already been dogged by controversy. He confirmed the much-criticised changes to capital gains tax and the taxation of non-domiciliaries. CBI Director-General Richard Lambert, said: 'The Government has much to do if it is to win back its enterprise credentials, but the measures announced today are a credible first step on the road.'
| Financial Year to | 31 March 2009 | 31 March 2008 |
|---|---|---|
| Taxable profits | ||
| First £300,000 | 21% | 20% |
| Next £1,200,000 | 29.75% | 32.5% |
| Over £1,500,000 | 28% | 30% |
The small companies' rate of corporation tax will increase from 21% to 22% in 2009/10.
Previous proposals, amended after due consultation, were confirmed for 2008/09 as follows:
Annual Investment Allowance (AIA)
Tax relief on the first £50,000 of investment in plant and machinery, except for cars, will be at 100%. This will apply to any size of business, but there will be provisions to prevent multiple claiming. Businesses will be able to allocate their AIA in any way they wish; so it will be quite acceptable for them to allocate their allowance against expenditure otherwise qualifying for a low rate of allowance.
Writing Down Allowance (WDA)
Any additional expenditure over the AIA level will enter either the 10% pool or the 20% pool, attracting WDA at the appropriate rate. The 10% pool will contain longlife assets, thermal insulation added to existing commercial buildings, and 'integral features' of buildings (including replacement expenditure). The 20% pool will apply to most other plant and equipment, including cars costing £12,000 or less. Cars costing more than £12,000 will continue to qualify for a 25% WDA subject to a maximum of £3,000.
A WDA of up to £1,000 can be claimed where the unrelieved expenditure in either the 10% or 20% pool is £1,000 or less.
Enhanced Capital Allowances (ECA)
In addition to AIA, 100% first year allowances are available on energy saving or environmentally beneficial equipment. Where companies (only) have unrelieved losses attributable to ECAs, they may choose to surrender such losses for a cash payment. The company will receive a tax credit of 19%, subject to a maximum of the greater of £250,000 or the company's PAYE and NI liabilities for the period for which the loss is surrendered. This credit will be clawed back where the asset is sold within four years after the end of the period for which the credit was paid. Electric and low CO2 emission (up to 110 g/km) cars and natural gas/ hydrogen/ biogas refuelling equipment also qualify for 100% first year allowances, but will not qualify for the payable tax credit.
Buildings
WDAs on industrial and agricultural buildings are gradually being phased out, with final withdrawal by the end of 2010/11. The WDAs (on building cost) for 2008/09 are reduced from 4% to 3% (subject to transitional arrangements). A maximum 100% initial allowance is available for the conversion of parts of business premises into flats. There are also 100% business premises renovation allowances and Enterprise Zone allowances (EZA). EZAs are to be withdrawn from the end of 2010/11.
The enhanced deduction available to small and medium enterprises (SMEs) in respect of qualifying R&D expenditure is to increase from 150% to 175%. For large companies the enhanced deduction is to increase from 125% to 130%. These changes will take effect from a date to be appointed once EC state aid approval has been received. As from the same date, the SME tax relief will no longer be available to those companies whose most recent accounts were not produced on a going concern basis. In addition, the SME relief is to be capped at €7.5 million per R&D project.
The tax bands are reduced where a company has one or more associated companies. As from 1 April 2008, a company will no longer be associated with companies controlled by the business partners of the person controlling that company. The exception to this is where at any time the shareholder or director of the company and the business partner have made arrangements to secure a tax advantage for the company.
From 6 April 2008, subject to EC state aid approval, the limit on which an investor can claim EIS income tax relief will be increased from £400,000 to £500,000.
Currently, employees cannot hold qualifying EMI options (taking into account Company Share Option Plan options also granted to them) with a total market value at the date of grant of more than £100,000. For EMI options granted on or after 6 April 2008, this limit will be increased to £120,000. Options granted after the date of Royal Assent will not be qualifying EMI options if the company has 250 or more employees and/or it is involved in shipbuilding or coal and steel production.
A number of measures will be introduced to tackle anti-avoidance. These will affect:
The Chancellor confirmed the new standard rate of 18%, coupled with the withdrawal of indexation allowance and taper relief for individuals and trustees with effect from 6 April 2008. Other reliefs, such as those relating to principal private residences, losses brought forward, Enterprise Investment Scheme and Venture Capital Trusts, and business asset rollover relief, will continue to be available. Assets acquired before 31 March 1982 will be deemed to have had a cost equivalent to their market value at that date.
In certain circumstances the CGT base cost of an asset is tied to its value ascertained for inheritance tax (IHT) purposes. A correction made necessary by the IHT changes noted below means this rule will not apply where the value does not have to be ascertained for IHT purposes on the death of an individual.
The Annual Exempt Amount (AEA) will be increased for 2008/09 to £9,600 for individuals and £4,800 for some trustees.
Following strong opposition from the business community to the proposed CGT changes, the Chancellor has introduced an Entrepreneurs' Relief which gives an effective 10% rate for the first £1million of lifetime capital gains on the disposal of trading businesses and on certain disposals of shares in trading companies. The relief actually works by reducing the gain by 4/9, leaving the residual 5/9 gain to be taxed at 18% (5/9 x 18% = 10%). The effective rate will be reduced by the application of the AEA.
The £1million may be made up of any number of disposals after 5 April 2008 and, unlike the former retirement relief (on which the rules are based), there is no minimum age qualification. There is, however, a one year qualifying period and other conditions to be met. Trustees will also be able to claim, jointly with a 'qualifying beneficiary'.
Capital gains made by companies are dealt with separately under the corporation tax regime, and these arrangements have not changed.
As previously announced, the IHT standard threshold has been set at £312,000 for 2008/09. This defines the upper limit of what is commonly known as the IHT nil-rate band.
In the October Pre-Budget Report, the Chancellor announced a new concession for married couples and civil partners. With effect from second deaths on or after 9 October 2007 the unused percentage of the nil-rate band from the first death estate can be carried forward and added to the nil-rate band available to the second. The combined threshold for couples is therefore set at a maximum of £624,000 for 2008/09.
This new arrangement applies no matter how long ago the first death occurred. For example:
On the first death none of the original nil-rate band was used because the entire estate was left to a surviving spouse. Then if the nil-rate band when the surviving spouse dies is £350,000 that would be increased by 100% to £700,000.
If on the first death the chargeable estate was £107,500 when the nil-rate band was £215,000 (1997/98), then 50% of the original nil-rate band would be unused. If the nil-rate band when the surviving spouse dies is £350,000, then that would be increased by 50% to £525,000.
The Finance Bill 2008 will propose legislation to ensure that tax-relieved pension savings diverted into inheritance using scheme pensions and lifetime annuities are subject to unauthorised payment tax charges and, where appropriate, IHT. In addition, IHT protection to savings in overseas pension schemes will be restored.
Legislation will be introduced in Finance Bill 2008 to provide that instruments transferring stocks and shares that were previously chargeable with £5 stamp duty (generally where the consideration is £1,000 or less) will in future be exempt and will not need to be presented to HMRC for stamping. The measure will have effect for instruments executed on or after 13 March 2008.
Stamp duty land tax anti avoidance measures will be introduced affecting transactions by groups of companies on or after 13 March 2008.
Legislation will be introduced in Finance Bill 2008 to provide for the annual setting of duty rates for alcohol. Duty rates will increase by 6% in real terms for all alcoholic drinks. The impact of the changes on retail prices for typical alcoholic drinks and tobacco products is equivalent to:
For return periods ending on or after 1 April 2009, where the filing date is after 1 April 2010, the new penalty regime for incorrect returns introduced in 2007 for income tax, CGT, VAT, PAYE and NICs will be extended across all other taxes and duties. From 1 April 2009, the penalty regime for failure to notify HMRC of a new charge will be aligned across all taxes and duties.
The new provisions for incorrect returns will provide for penalties in line with Schedule 24 to FA 2007, which are based on the amount of tax understated, the nature of the behaviour and the extent of disclosure by the taxpayer. There will be no penalty where a taxpayer makes a mistake but there will be a penalty of up to:
Each penalty will be substantially reduced where the taxpayer makes a disclosure (takes active steps to put right the problem), more so if this is unprompted.
| From | 1 April 2008 | 1 April 2007 | |
|---|---|---|---|
| Standard rate | 17.5% | 17.5% | |
| VAT fraction | 7/47 | 7/47 | |
| Turnover | Turnover | ||
| Registration | last 12 months or next 30 days over |
£67,000 | £64,000 |
| Deregistration | next 12 months under | £65,000 | £62,000 |
| Cash accounting scheme | up to | £1,350,000 | £1,350,000 |
| Annual accounting scheme |
up to | £1,350,000 | £1,350,000 |
| Optional flat-rate scheme | up to | £150,000 | £150,000 |
Legislation will be introduced for simplification of the option to tax land and/or buildings. It will also introduce minor changes to enable taxpayers to revoke an option to tax after 20 years and make a number of associated changes to improve practical administration of the option to tax.
The rewritten legislation will have effect on and after 1 June 2008. The earliest date an option to tax will be revocable will be 1 August 2009.
Businesses registered for VAT, insurance premium tax (IPT), air passenger duty (APD), landfill tax (LFT), climate change levy (CCL) and aggregates levy (AGL) will have increases to the limit below which errors on previous returns may be corrected on the return for the period in which the errors are discovered. This measure will have effect for accounting periods commencing on or after 1 July 2008.
This measure increases the de minimis £2,000 limit to the greater of £10,000 or 1% of turnover, subject to an upper limit of £50,000 for VAT, IPT, LFT, CCL and AGL. For VAT, LFT, CCL and AGL errors above £10,000, the limit for correcting errors on the next return will be calculated by reference to net VAT turnover (Box 6 on VAT return) for the return period.
For IPT, this limit will be calculated by reference to the net IPT turnover (Box 10 on IPT return). APD procedures will be amended to increase the de minimis limit to the greater of £10,000 or 1% of duty due, before adjustments for errors from previous periods, subject to an upper limit of £50,000. For LFT, CCL and AGL taxpayers who are not required to be registered for VAT a single limit of £10,000 will have effect.
The taxable petrol and diesel car benefit is based on the car's CO2 emissions. It is calculated using the car's UK list price and applying the 'appropriate percentage' as shown in the table below. The first line of figures in the table relate to the new category of qualifying low emissions cars (QUALECs).
The car fuel benefit is calculated by applying the same percentages to the fuel multiplier, which for 2008/9 is increased from £14,400 to £16,900.
The percentages are reduced for cars (except QUALECs) that can be driven on alternative fuels by:
Where businesses wish to reclaim the input VAT on fuel which has some degree of private use, they must account for output VAT on a scale charge. The table below shows the VAT chargeable for quarters commencing on or after 1 May 2008.
| CO2 emissions | Appropriate percentage | Quarterly VAT | ||
|---|---|---|---|---|
| (g/km) | Petrol % |
Diesel % |
Fuel scale charge £ |
VAT on charge £ |
| 120 and below | 10 | 13 | 138 | 20.55 |
| 121 to 139 | 15 | 18 | 207 | 30.83 |
| 140 to 144 | 16 | 19 | 221 | 32.91 |
| 145 to 149 | 17 | 20 | 234 | 34.85 |
| 150 to 154 | 18 | 21 | 248 | 36.94 |
| 155 to 159 | 19 | 22 | 262 | 39.02 |
| 160 to 164 | 20 | 23 | 276 | 41.11 |
| 165 to 169 | 21 | 24 | 290 | 43.19 |
| 170 - 174 | 22 | 25 | 303 | 45.13 |
| 175 - 179 | 23 | 26 | 317 | 47.21 |
| 180 - 184 | 24 | 27 | 331 | 49.30 |
| 185 - 189 | 25 | 28 | 345 | 51.38 |
| 190 - 194 | 26 | 29 | 359 | 53.47 |
| 195 - 199 | 27 | 30 | 373 | 55.55 |
| 200 - 204 | 28 | 31 | 386 | 57.49 |
| 205 - 209 | 29 | 32 | 400 | 59.57 |
| 210 - 214 | 30 | 33 | 414 | 61.66 |
| 215 - 219 | 31 | 34 | 428 | 63.74 |
| 220 - 224 | 32 | 35 | 442 | 65.83 |
| 225 - 229 | 33 | 35 | 455 | 67.77 |
| 230 - 234 | 34 | 35 | 469 | 69.85 |
| 235 and above | 35 | 35 | 483 | 71.94 |
Changes to the HMRC business mileage rates are announced from time to time. The current rates are as follows:
| Vehicle | First 10,000 miles | Thereafter |
|---|---|---|
| Car / Van | 40p | 25p |
| Motorcycle | 24p | 24p |
| Bicycle | 20p | 20p |
| Car - fuel only advisory rates | |||
|---|---|---|---|
| Engine Capacity | Petrol | Diesel | Gas |
| Up to 1400cc | 11p | 11p | 7p |
| 1401 - 2000cc | 13p | 11p | 8p |
| Over 2000cc | 19p | 14p | 11p |
The fuel only advisory rates can be applied as a tax-free maximum rate for employees claiming for petrol used on business journeys and for employees reimbursing their employers with the cost of petrol used for private journeys.
HMRC will consider claims for a higher maximum rate, if it can be demonstrated that it is necessary for an employee to use a car with higher than average fuel costs.
| Band | CO2 emissions g/km | Petrol & Diesel |
Alternative Fuel Cars |
|---|---|---|---|
| A | 100 and below | £0 | £0 |
| B | 101 - 120 | £35 | £15 |
| C | 121 - 150 | £120 | £100 |
| D | 151 - 165 | £145 | £125 |
| E | 166 - 185 | £170 | £150 |
| F* | 186 and above | £210 | £195 |
| G** | 226 and above | £400 | £385 |
* Cars registered before 23 March 2006 ** Cars registered from 23 March 2006
The taxable benefit for the unrestricted private use of vans is £3,000. There is a further £500 taxable benefit if the employer provides fuel for private travel.
| Van and fuel charge | Van | Fuel | Total |
|---|---|---|---|
| Tax (20% taxpayer) | £600 | £100 | £700 |
| Tax (40% taxpayer) | £1,200 | £200 | £1,400 |
| Employer’s class 1A NICs | £384 | £64 | £448 |
| 2008/09 National Insurance Contributions (NICs) | |||
|---|---|---|---|
| Employer | Employee | ||
| Class 1 - not contracted out | |||
| Lower earnings limit | £90 | ||
| Weekly earnings bands | |||
| Up to £105 | Nil | Nil | |
| £105.01 – £770 | 12.8% | 11% | |
| Over £770 | 12.8% | 1% | |
| Over state retirement age | 12.8% | Nil | |
| Class 1A | On relevant benefits | 12.8% | Nil |
| Class 2 | Self employed | £2.30 per week | |
| Limit of net earnings for exception | £4,825 p.a. | ||
| Class 3 | Voluntary | £8.10 per week | |
| Class 4* | Self employed on profits | ||
| £5,435 - £40,040 | 8% | ||
| Excess over £40,040 | 1% | ||
| *Exemption applies if state retirement age was reached by 6 April 2008 | |||
Rule changes will mean that banks and building societies will only have to pay over the 20% 'tax at source' and report the interest to HMRC when the customer reclaims their dormant account balance.
Similarly, the customer will only be liable for any further tax due on the interest on such accounts when they reclaim their balance.
In the event that taxpayers are adversely affected by events designated as national disasters, HMRC will waive interest and surcharges on tax paid late.
HMRC inherited two systems of tribunals when the former Inland Revenue and HM Customs & Excise merged.
These are to be simplified under powers to be introduced in the 2008 Finance Act.
Taxation on certain offshore income gains of FAIFs can, under proposed new rules, be shifted from the fund to the investors. Authorised investment funds will be able to elect for a new tax treatment, making it exempt from tax on offshore income gains, which will in turn be taxable on the investor on the disposal of units in the fund.
As announced last year, new rules for longer-term resident individuals who are not domiciled in the UK (non-doms) will come into force with effect from 6 April 2008.
Key to the new rules is a choice for non-dom adults with overseas income and gains over £2,000 in a tax year. Essentially, they can opt to have income and gains of the year taxed on the remittance basis (ie taxed in the UK only as and when they are remitted) and pay £30,000 or they can be taxed for the year on their worldwide income and gains (plus any income or gains from a 'remittance basis' year remitted in the year). The £30,000 will be a payment in respect of tax on unremitted gains or income, allocable by the taxpayer, and available for credit when said gains or income is remitted (and should also be treated as such for relief under double taxation treaties with other taxing regimes).
Opting for the remittance basis will also mean that entitlement to the year's UK personal allowances and the CGT annual exemption is lost.
Also featuring are new definitions of remittances, catching money or gifts made outside the UK and brought in by a relative and also the import of assets bought outside the UK with untaxed income or gains. There are some exclusions, covering for example personal effects and assets brought temporarily to the UK, but perhaps most importantly the rules will not apply to assets bought out of untaxed foreign income and owned at 11 March 2008. These exclusions are in addition to the exclusion for works of art brought to the UK for public display, already announced.
These changes will also apply to anyone who has been able to opt for the remittance basis because, though UK resident, they are not ordinarily resident.
New rules will apply from 6 April 2008 to give non-doms, including those opting to be taxed on the remittance basis, access to relief for capital losses when they are liable for tax on capital gains on the arising basis.
Employees who are resident but not ordinarily resident in the UK and receive shares or options as part of their remuneration will be liable for UK income tax on such employment-related securities (ERS). ERS gains derived from non-UK employment duties will be subject to income tax on the remittance basis. This will also apply to non-doms where the ERS income relates to a foreign employment, the duties of which are performed wholly outside the UK.
The rules bringing into UK tax the gains of offshore trusts have also been strengthened, with the effect that resident non-dom settlors will be taxed on gains on UK assets as they arise, while they and resident non-dom beneficiaries will be taxed on other gains as they are brought to the UK.
Trustees will be able to elect to rebase the CGT base cost of all assets to the 6 April 2008 value.
It is no longer possible to close a source and remit the income in the following tax year (closed source rule).
The rate on income tax chargeable on foreign dividend income remitted by individuals claiming the remittance basis will be corrected to 40% from 6 April 2008.
It had been announced that in counting the number of days present in the UK for the residence tests it would be necessary from 6 April 2008 to include the days of arrival and departure. The Chancellor announced that the rule will be to count midnights spent in the UK as a day of presence in the UK, except where the midnight falls at a time when one is present in the UK in transit between two places outside the UK — 'days' spent in transit will not be counted unless the individual engages in activities that are to a substantial effect unrelated to their passage (for example, attending a business meeting).
The National Minimum Wage rates will increase in October 2008.
The main rate for adult workers will rise from £5.52 an hour to £5.73 an hour.
The development rate for 18-21 year olds will rise by 17p, from £4.60 to £4.77.
The rate for 16-17 year olds will rise by 13p, from £3.40 to £3.53.
| April 2008 | |
|---|---|
| 5 | Last day of 2007/08 tax year. Deadline for 2007/08 ISAs. Last day to make disposals using the 2007/08 CGT exemption and the 'old' CGT rules. Last date for contracting back into the State Second Pension for 2007/08. |
| 14 | Due date for income tax for the CT61 period to 31 March 2008. |
| 19/22 | Quarter 4 2007/08 PAYE remittance due. |
| 20 | Interest will begin to accrue on unpaid PAYE/NI for 2007/08. |
| 30 | Normal annual adjustment for VAT partial exemption calculations (monthly returns). |
| May 2008 | |
| 3 | Last day for notifying car changes in quarter to 5 April - P46 (Car). |
| 19 | Last day for filing forms P14, P35, P38, and P38A - 2007/08 PAYE returns - without incurring penalties. |
| 31 | Last day to issue 2007/08 P60s to employees |
| June 2008 | |
| 30 |
End of CT61 quarterly period. Last day for UK businesses to reclaim EC VAT chargeable in 2007. Annual adjustment for VAT partial exemption calculations (March VAT year end). |
| July 2008 | |
| 6 | Deadline for submission of Form 42 (transactions in shares and securities). File Taxed Award Scheme Returns, file P11Ds, P11D(b)s and P9Ds. Issue copies of P11Ds or P9Ds to employees. Deadline for submission of EMI140 (EMI Annual Return) |
| 14 | Due date for income tax for the CT61 period to 30 June 2008. |
| 19/22 | Quarter 1 2008/09 PAYE remittance due. Final date for payment of 2007/08 Class 1A NICs. |
| 31 | Second self assessment payment on account for 2007/08. Annual adjustment for VAT partial exemption calculations (April VAT year end). Liability to 2nd £100 penalty arises for 2007 Tax Return still not filed. 5% surcharge on any tax unpaid for 2006/07. |
| August 2008 | |
| 2 | Last day for notifying car changes in quarter to 5 July - P46 (Car). |
| 31 | Annual adjustment for VAT partial exemption calculations (May VAT year end). Deadline for tax credit Annual Declaration (if estimated, final figures required by 31 January 2009). |
| September 2008 | |
| 30 | End of CT61 quarterly period. |
| October 2008 | |
| 1 | Due date for payment of Corporation Tax for period ended 31 December 2007. |
| 5 | Individuals/trustees must notify HMRC of new sources of income/chargeability in 2007/08 if a Tax Return has not been received. |
| 14 | Due date for income tax for the CT61 quarter to 30 September 2008. |
| 19/22 | Quarter 2 2008/09 PAYE remittance due |
| November 2008 | |
| 1 | Please ensure you are retaining your documents for the 2009 Tax Return. |
| 2 | Last day for notifying car changes in quarter to 5 October — P46 (Car). |
| December 2008 | |
| 30 | Last day to file your 2008 Tax Return electronically if you wish to have a 2007/08 balancing payment of less than £2,000 collected through your 2009/10 PAYE code. |
| 31 | Last day for non-EC traders to reclaim recoverable UK VAT suffered in the year to 30 June 2008. End of relevant year for taxable distance supplies to UK for VAT registration purposes. End of relevant year for cross-border acquisitions of taxable goods in the UK for VAT registration purposes. End of CT61 quarterly period. Filing date for Corporation Tax Return Form CT600 for period ended 31 December 2007. |
| January 2009 | |
| 1 | Due date for payment of Corporation Tax for period ended 31 March 2008. |
| 14 | Due date for income tax for the CT61 quarter to 31 December 2008. |
| 19/22 | Quarter 3 2008/09 PAYE remittance due. |
| 31 | First self assessment payment on account for 2008/09. Capital gains tax payment for 2007/08. Balancing payment - 2007/08 income tax/class 4 NICs. Last day to renew 2008/09 tax credits. Deadline for amending 2006/07 Tax Return. Last day to file the 2008 Tax Return online. |
| February 2009 | |
| 1 | £100 penalty if 2008 Tax Return not yet filed. Additional penalties may apply for further delay. Interest starts to accrue on 2007/08 tax not yet paid. |
| 2 | Last day for notifying car changes in quarter to 5 January - P46 (Car) |
| 14 | Last date (for practical purposes) to request NIC deferment for 2008/09. |
| 28 | Last day to pay any balance of 2007/08 tax and Class 4 NIC to avoid an automatic 5% surcharge |
| March 2009 | |
| 31 | End of Corporation Tax financial year. End of CT61 quarterly period. Filing date for Corporation Tax Return Form CT600 for period ended 31 March 2008. |
We occasionally write about recent events and legislation, expressing our opinion and keeping you informed. New articles will be published here, so check back regularly.
Budget 2008 report
13 March 2008
Capital Gains Tax climbdown announced
24 January 2008
Capital Gains Tax reforms - how will they affect you?
15 October 2007
Pre-Budget Report 2007
10 October 2007
New Rules for Directors
1 October 2007
Victory for Husband and Wife businesses
26 July 2007
Would you like to say something to the taxman?
22 June 2007