Pre Budget Report 2009 – summary of large company measures

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  • Bank payroll tax of 50% will apply to bonuses paid by banks after the time of the Chancellor’s announcement unless the amounts and entitlement were contractually fixed before the announcement. See technical summary article. (PBRN02)
  • The debt cap legislation introduced as part of the package of measures on foreign profits in Finance Act 2009 will be amended as a result of consultation between HMRC and businesses since FA 09 was enacted. The changes are intended to allow the debt cap mechanism to work as intended and to ease the practical application of the rules. (PBRN04)
  • Changes to the accounting treatment of financial instruments will impact the tax treatment of those instruments, as the tax treatment follows the accounting treatment. The ch...

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About Rebecca Benneyworth

Rebecca Benneyworth profile image

Rebecca trained in London with Kidsons and, on qualifying, spent some time as Chief Accountant of a manufacturing company. She now has her own small practice in Gloucestershire that comprises of owner managed businesses and small companies.

She also lectures extensively for a range of professional bodies, accountancy firms, commercial organisations and the Inland Revenue. Demand has grown for Rebecca on the lecture circuit where she is well known for her refreshing, enthusiastic and entertaining presentation style as well as having a practical and down-to-earth approach to tax.
 

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