News
June 2010
Budget Date Announced
The new coalition government is settling into office and a date has been announced for the emergency Budget. Chancellor of the Exchequer George Osborne will present the Budget on Tuesday 22 June 2010.
Given the need to repair the public finances, it is likely this Budget will see the introduction of some tax rises as well as public spending cuts, with Capital Gains Tax widely predicted to increase to bring it more into line with Income Tax rates. It is probable that any hike will see some exemptions for entrepreneurs, leaving second home owners, buy-to-let landlords and private investors among those who may be hardest hit by any changes.
Other possible tax increases include a rise in VAT – perhaps to as much as 20 per cent – and a further reduction in the tax relief on private pension contributions. In addition, while there may be some moves to reduce Corporation Tax, it is likely that this will be at the expense of some existing allowances and exemptions.
Action before budget day...
Anyone who believes that they may be affected by such changes may wish to make adjustments to their financial affairs before the date of the budget where possible, and we are of course happy to assist our clients with this if they wish. For more information or advice please contact us.
Find out more...
In addition, we will be hosting a Budget Breakfast the day after the announcement, from 7.30am to 9.30am on Wednesday, 23 June at Sands, Icon Building, Western Esplanade, Southend on Sea, Essex SS1 1EE.
A full English breakfast will be followed by a Budget presentation with informed analysis from the Rickard Keen team on any new measures being introduced and their impact on businesses and individuals.
Anyone interested in attending should contact Jo Elliott on 01702 606836 or email jo.elliott@rickardkeen.co.uk. Alternatively, please complete the online booking form.
