Pre-Budget Report 2009 - Tories set date for next year's (second) Budget
Even before the Chancellor’s Pre-Budget Report 2009 on 9 December the Conservative Party has indicated that they will have an 'emergency' Budget within fifty days of winning the general election next year.
Highlights of their proposals are:
- a reduction in corporation tax to 25% (20% small companies)
- increasing the stamp duty land tax threshold to £250,000
- raising the transferable IHT nil rate band to £1million
- a simple annual levy on all non-domiciles who want to avoid paying tax on their offshore income, in return for a promise not to change their tax regime for a Parliament.
It remains to be seen whether the Pre-Budget Report picks up on any of these ideas.
We will be blogging on SME Plus Blog and Tax Plus Blog on Pre-Budget Report day. If you do not already subscribe to our blogs click here for SME Plus Blog or here for Tax Plus Blog to ensure you get our comment and analysis as and when it happens.
Barry Hallam is a senior manager at Mercer & Hole. If you would like to discuss the contents of this post with Barry you can call him on 020 7353 1597.
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