Olswang Budget 2009 Analysis
Our Budget Analysis includes information on:
Personal Taxes & Pensions
Corporate Taxes
Foreign Profits
Real Estate Taxes
REITS
Capital Allowances
VAT
Click here to view a printable PDF of our Analysis.
The Retail Summary
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The Green Summary
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Changes to tax relief on pensions - Anti-forestalling
Today the Government announced its intention to limit from 6 April 2011 the tax relief for individuals with an annual income of £150,000 or more. Relief will be tapered away so that for those earning over £150,000 relief will be worth 20 per cent, the same as to a basic rate taxpayer.
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Good news and bad news for the bingo industry equates to Rank bad news
The big gambling news in the 2009 Budget is the combination of the increase in duty and the elimination of VAT on participation fees for bricks and mortar bingo operators, the consultation on the question of converting Amusement Machine Licence Duty ("AMLD") into a gross profits tax and the net increase in duty on participation fees for casinos.
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Taxing Foreign Profits: How the new UK rules could affect your company
Major changes to the UK tax treatment of foreign profits of UK corporates are proposed. These relate to: the taxation of dividends/received, interest deductions for UK members of multi-national groups (the "worldwide debt cap"), controlled foreign companies, and movements of foreign capital (Treasury consents). The changes, including the draft legislation, have been subject to extensive consultation.
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