Increases in Vehicle (emissions) duties, Tobacco and Alcohol taxes.
Some other "fluff" intended to sound very pro-active on the part of neo-labour, but ultimately meaningless (or whereby the changes are insufficient to even scratch the surface of inflation).
Well I'll be surprised if there is anything interesting on the VAT front, unless of course the Chancellor decides to reverse his totally ineffective VAT rate reduction! Anything interesting about VAT is usually buried in a throw-away line in the detailed commentary. But of course, I could be proved wrong!
Marie Free VAT help and support | VATexchange.co.uk
VATwise I would anticipate confirmation that it will remain at 15% until the end of this year, and then rise to (at least) 18.5% - beyond where it sat before.
There will possibly be some attempt to bury that in the usual labour nonsense e.g. higher band of tax which will raise bazillions (in politicomaths terms) of extra revenue.. there were mumblings of 45% over 150k earnings?
There will possibly be some attempt to bury that in the usual labour nonsense e.g. higher band of tax which will raise bazillions (in politicomaths terms) of extra revenue.. there were mumblings of 45% over 150k earnings?
Actually revealed as 50% tax on earnings over £150K
Usual increases in fuel, drink and cigarettes. Was there anything to help businesses out there?
Kim
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Actually revealed as 50% tax on earnings over £150K
Usual increases in fuel, drink and cigarettes. Was there anything to help businesses out there?
Kim
Which will mean more companies moving their operations abroad so the Directors don't have to pay dumbass taxes. Also means that employed people at the higher end will bugger off abroad to work tax free, causing a brain drain, which in turn will stifle entrepreneurism, which will result in less jobs, which means less tax revenue, so he will drop the threshold to £140k, and up the level to 52%.. and round and down we go!
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Yes and the VAT stuff was very unexciting as well. It mostly concerned the introduction of legislation to enact certain EC VAT rule changes which start to take effect next year, but we've been expecting this legislation for some time now. It does affect certain business to business transactions between different member states and will have some benefit in expanding the use of the reverse charge to more business to business services. Other changes include the introduction of an EC sales list for reverse charge services and a new electronic EC VAT refund scheme which should make things a bit easier.
Nothing unexpected about the standard rate change, but there is plenty of time before 1 January 2010 for the Chancellor to decide to introduce a higher standard rate when the 15% rate ends!
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