Hot topics for March Budget

Wednesday, March 17th, 2010 | View from the Top

If you have been following the various views online of what will appear in the next budget, you will probably agree that experts are somewhat divided.

Clearly there is a need to increase the amount received by the Exchequer to ensue the huge deficit is repaid over the coming years, but precisely how best to achieve this is most likely to be left to the next Government.

The best of the “best guesses” for budget proposals are as follows:

• broader powers for HMRC, primarily to support them in examining tax avoidance
• preparation for an increase in Capital Gains Tax
• reduction in reliefs for Venture Capital Trusts and Enterprise Initiative Schemes, which are seen as “non-dangerous” changes for the majority of taxpayers
• some focus on residency and foreign banking regulations

We are not expecting any reversal of proposals for taper reductions to 20% on pension contributions.

Lansdown Place will release a summary of the budget as presented on 24th March

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