Budget

As a parting gesture, Gordon Brown announced a major overhaul of tax allowances for business investment in plant, machinery and buildings.

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The budget has triggered a mixed reaction from businesses, with firms welcoming the cut in corporation tax but small companies branding overall measures as ‘smoke and mirrors’.

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The chancellor's eleventh budget speech was posited as a "budget to expand prosperity and fairness for Britain's families"

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Gordon Brown has delivered his 2007 budget speech in the House of Commons. These are the main points.

Economy

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"No return to boom and bust" is on the agenda according to the chancellor, but with 81 budget notes there have been some major changes announced to simplify income tax, tinker with corporation t

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The widely held view is that the 2007 budget will be chancellor Gordon Brown's last.

As part of its budget submission, the Institute of Chartered Accountants in England & Wales (ICAEW), has called for a greater sense of urgency in government when dealing with UK business needs.

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Proposals to link filing of company tax returns with the filing of accounts of those companies at Companies House were floated last November in the form of a consultation document.

There was a clear indication in the Budget 2006 publications that tax motivated incorporation was still an issue for Government. The Red Book included an analysis of the issue at paragraph 5.

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As newly released figures show the government lost up to £3bn to carousel fraud in 2005-06, Gordon Brown’s pre-budget report revealed staff solely focused on developing HMRC’s strategy to tackling

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