Budget | AccountingWEB

Budget

Headline-grabbing reforms to the capital allowance system will offer 100% first year tax credits for designated energy-saving and environmentally beneficial plant and machinery, and 100% allowances

Alistair Darling's first budget as chancellor today confirmed that the government's new Capital Gains Tax reforms will be implemented next month.

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UK Charities and Community Sports Clubs (CASCs) claiming Gift Aid repayments will be entitled to transitional relief under new plans outlined in the 2008 Budget.

The chancellor is seeking to enhance a number of tax investment schemes for entrepreneurs - subject to European state aid approval.

The rates and thresholds for stamp duty land tax (SDLT) remain unchanged.

Shared ownership schemes

Chancellor Alistair Darling’s first budget failed to inspire as he reported increased public borrowing and falling growth rates.

Today, as the Chancellor spotted, is National No Smoking Day (though sadly for the makers of cumbersome jokes, not also Ash Wednesday).

Company van drivers will not be taxed on fuel reimbursements under a new law being introduced in the finance bill.

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Alistair Darling has delivered his first budget as chancellor in the House of Commons. Read our summary of the main points of the speech.

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VAT changes in the Budget small print were largely as expected.

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