Budget predictions - what the papers say by Rebecca Benneyworth

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With the Budget just days away, I have taken a look at what the predictions are over the weekend - traditionally a time for the heavyweight papers to publish their "Budget leaks". So what do they (and members) think is in store for us?

It is Budget week, and the accountancy profession holds its collective breath. What dreadful plans has the Chancellor in his red box? Judging by the coverage in the lay press, there are a number of options for Mr Darling, and there have been some quite specific pre Budget leaks (or speculation?). So here, we highlight the key predictions in the press over the weekend, and try to sort the wheat from the chaff. Wed also like your responses and predictions for what Wednesday will brin...

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"consensus appeared to be that the Budget would be largely tax n
No surprise there.
2009/10 allowances and rates were announced last year.
Self assessment payment regime means any tax changes announced today can't impact self employed until 2012 (twelve). Any tax changes would first apply re 2010/11 and only balancing liability would be affected - due 31/1/2012.

(Just seen your final para. Thanks for that, but it won't happen)

Mark Lee
Tax Advice Network

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It'll never happen
CPI/RPI indexing of tax bands/allowances ... especially mileage - since that is based on fuel costs from 2003 !
;-)

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Sadly..

though we have been promised "indexation" of the car fuel benefit scale charge this year - based on what I'm not sure, RPI, CPI or the price of fuel (which would mean it would go donw not up!)

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