St. George's day and we hear that our Prime Minister is proud of what England has given the world - in particular our language and Shakespeare's phrases now in common usage. He particularly mentioned "a pound of flesh", something the ex-chancellor knows a lot about and a theme continued by his own chancellor yesterday.
The "green budget" barely raised it's head again beyond justifying an increase in fuel duty but there was a whack to those of you earning over £100k with reduced personal allowances and if earning over £150k an extra 10% income tax on the top slice from April 2010. Add in the messy return to 17.5% VAT on 1 Jan 2010 increased penalties when we get things wrong (although nothing for when they do).
The good stuff was restricted to the "Old Banger" relief for scrapping a 10 year old car, the stamp duty maintained at nil up to £175k, re-introduction of 40% capital allowances for a year from April 2009 and confirmation that we can carry back losses for 3 years (limited to £50k pa). Talk to your accountant about how all this affects you.
As for Alastair Darling - the IMF have already said that they don't agree with him - is he trying to put too positive a spin on things? You undergo too strict a paradox, Striving to make an ugly deed look fair. (as Shakespeare also wrote, Mr Brown).
Thursday, 23 April 2009
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