We have had an extension of the loss carry back rules before when the economy is under pressure, but I suspect none so well timed in the announcement than this.

The chancellor's sudden decision to change the standard rate of VAT from 17.5% to 15% from Monday 1 December has triggered a flurry of activity and anguish in the financial software industry.


I have been assuming everyone else had worked this out, but the press coverage I was expecting hasn't appeared, so here's my take: the PBR has support for the banking sector written all over it!

Breaking opinion and analysis on the Pre-Budget Report. Karen Thompson of the Institute of Payroll Professionals examines the effects on payroll.

The long awaited information on the new capital allowances rules for cars is now available.


The key small business measures to watch out for include the following:

Corporation tax rate

The announcement that the planned increase in the small company rate of corporation tax was to be deferred for a year was welcome news for smaller businesses.


In time-honoured tradition, with every Budget Report, our long-standing partners Chiltern run a tax sweepstake for AccountingWeb members.


Among all the recession-fighting tax giveaways and political badminton of the 2008 Pre-Budget Report, the chancellor claimed to have reaped savings of £26.5bn in a five-year goverment efficiency dr