Budget 2008: At a glance guide
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:
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Income Shifting
- The chancellor announced that the proposed legislation will be reconsidered and enactment is postponed for a year.http://www.accountingweb.co.uk/cgi-bin/item.cgi?id=18
Continued...
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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.)
Mr F
Took sometime to work this one out - indexation appears to justify the extra..