Here are some light, bite-sized Budget insights...
...served to you by your calorie counting tax team at Henderson Loggie.
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Insight
Welcome to our regular
e-newsletter, 'Insight', highlighting current issues that could be affecting you and/or your business, as well as technical updates to recent changes in tax legislation. |
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For further information on any of these topics please get in touch with your usual contact at Henderson Loggie.
If you're not currently one of our clients and would like further information please contact our enquiries team. |
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Your Henderson Loggie Budget Appetizer
The Henderson Loggie tax team are currently brushing aside the Chancellor's garnishes and getting their tax teeth into the full 5 course Budget. Their full analysis will be available tomorrow on our website, and we will let you know by email as soon as it is served online.
So, to avoid any indigestion today, we're offering you a small selection of the key points from the George Osborne's smorgasbord of tax changes, mentioned during today's speech.
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Future merger of Income Tax and National Insurance
Consultation will begin on the potential merger of these two taxes in a significant effort to simplify our tax system.
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Good news for charities
Simplifications include the administration of Gift Aid resulting in the ability to reclaim on donations without the details of the donor.
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Encouragement for growth
Additional incentives will be introduced for investment in R&D, and the Enterprise Investment Scheme. Entrepreneurs' relief will be increased to £10m.
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Going green
Incentives for investment in green energy have been announced, along with a new 'green investment bank' with access to up to £3bn of funds.
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Corporation Tax
From April 2011 the main corporation tax rate will be reduced by 2% instead of the planned 1%.
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Anti-avoidance measures
The Chancellor has announced new measures which will be introduced to close tax avoidance loopholes.
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The 'full fat' Budget
The full analysis will be coming to you soon...
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