Budget 2010
The government has confirmed that the Budget will take place on 24 March at 12.30. Watch this space for Deloitte's expert views and commentary on the announcements as they happen.
Pre-Budget 2009
Summaries of
measures
Download Deloitte's full commentary (PDF, 404
KB)
The Chancellor delivered his Pre-Budget Report on
Wednesday 9 December.
Business will welcome some PBR measures - the new
patent box, whereby income from new patents granted
from 2013 will be taxed at 10% and the announcement
of consultation on a foreign branch exemption.
The extra ½% hike in national insurance rates for
employers, employees and the self-employed from 2011
will not be appreciated. This - combined with the
2008 announcement - will mean a 1% charge, raising
about £7 billion in 2011-12 and subsequently.
Individuals will see tax allowances and thresholds
frozen at 2009-10 levels - so no pay boost in April
2010. National insurance rates and thresholds are
also unchanged. The state pension will rise by 2.5%
from April 2010 - meeting the guarantee to increase
pensions by the lower of RPI and 2.5%. Other
benefits and credits will rise by 1.5%.
The much-heralded bank bonus tax applies to bonuses
over £25,000 payable from today to 5 April 2010. It
covers individuals engaged in banking business
(including building societies) and will be charged
at a 50% rate. Taking account of the levy, national
insurance and income tax, bonuses will bear an
effective 68% tax. It supports the G20 measures on
bank pay to defer bonuses.
Finally, the Chancellor confirmed that VAT will go
back to 17.5% from 1 January 2010.
Follow our Twitter profile UKBudget as Bill Dodwell, Deloitte Tax partner, gives up to the minute views on the 2009 Pre-Budget.
Read the views of our experts on Alistair Darling's
announcements in the Pre-Budget Report
PBR measures
In-depth analysis for measures relating to:
