Budget 2008: At a glance guide

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A summary of the main tax announcements in the 2008 budget report, combined with 2008/09 tax measures announced previously in the 2007 budget and pre-budget reports.

Highlights:

Tax tables 2008 v 2007

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Income Shifting

  • The chancellor announced that the proposed legislation will be reconsidered and enactment is postponed for a year. More

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Company and business taxation

  • Changes to associated company rules to exclude business partner's controlled companies

  • Simplification review

  • The rules by which goods appropriated into and out of trading stock are adjusted to market value becomes statutory

From 6 April 2008 as previously announced in the pre-budget report:

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By Anonymous
13th Mar 2008 17:05

Mr F
Took sometime to work this one out - indexation appears to justify the extra..

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By Anonymous
13th Mar 2008 09:15

NIC
"National insurance

From 6 April 2008 as previously announced in the pre-budget report:


Upper earnings limit raised by £75 by 2008 and aligned with higher rate threshold by 2009.

Class 4 upper profits limit increases by £3,900"

This does not tally with the tax rate tables or what was announced yesterday, and noone seems to have noticed yet unless I've gone barmy.

UEL was increased by £100 and Class 4 profits limit by £5200 (i.e. £25 more per week than previously announced.)

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