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Welcome to the first newsletter for the 2008/09 edition of Tax Memo. This pulls together all relevant announcements made by the Chancellor in the Pre-Budget Report on 24 November 2008 to provide a comprehensive analysis in one document. The relevant paragraphs in your Memo product will also be updated individually online. With the global economy in its current state, this Pre-Budget Report was one of the most eagerly anticipated to be delivered. With the central objective to respond to the global economic recession, all eyes were on the Chancellor to see what tax changes would be made. We believe you will find this particular newsletter useful and informative in advising you of these changes, and welcome any comments you may have as to how we can improve our service. We look forward to receiving your emails at flm@flmemo.co.uk. |
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TAX MEMO 2008-09 |
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Newsletter Issue 1 |
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Pre-Budget Report 2008 |
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185 PARK STREET BANKSIDE LONDON SE1 9DY (T) 020 7803 4666 (F) 020 7803 4699 |
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Disclaimer This newsletter is provided on the understanding that the information contained within it is for guidance only, and that the publisher is not in business to provide legal or accounting advice or other professional services. Readers entering into transactions on the basis of, or otherwise relying on, such information should seek the services of a competent professional adviser. Whilst every care has been taken to ensure the accuracy of the contents, the editors and the publishers cannot accept responsibility for any loss occasioned to any person acting or refraining to act as a result of any statement in this newsletter. |
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Corporation tax ▪ Deferral of increase in small companies rate ▪ Extension of loss carry back facility ▪ Changes to allowances for cars |
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Income tax ▪ Changes in allowances and tax rates |
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NIC ▪ Future increases in NIC rates |
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Trusts ▪ Increase in the rate of tax applicable to trusts |
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VAT ▪ Reduction in the standard rate ▪ Changes to flat rate schemes |
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