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Deprecated: mysql_connect(): The mysql extension is deprecated and will be removed in the future: use mysqli or PDO instead in /home/sites/westwaters.co.uk/public_html/framework/lib/sddb.class.php on line 166 Services
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Budget 2012: What it means for you and your company

The Chancellor had warned that this Budget would not include any tax giveaways and he stuck to his word. But this doesn’t mean to say there weren’t significant changes to bother the business and personal tax regimes. For example, there was an extra 1% knocked off the main corporation Tax rate and the additional rate if tax is to fall to 45% from April next year.

Many of the changers have been pre-announced in la year's Autumn Statement and various clauses in the draft Finance Bill published over the past few months. But the Budget consolidated these, making some changed along the way, as well as introducing some new provisions.

A number of consultations are also to be undertaken, including those relating to penalties and the move to real Time Information operating of the PAYE system. Perhaps the most anticipated discussion paper will be the one relating to the introduction of a new general anti-avoidance rule (GAAR). This is likely to cause a considerable amount of debate.

Published by Indicator

Budget 2012: What it means for you and your company

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