Fw: The government sets out its stall in the emergency Budget

Andrew Cawkwell
Partner
Direct Dial: 0191 2444338
Mobile: 07973 502809

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From: Tait Walker <advice@taitwalker.co.uk>
To: Andrew Cawkwell
Sent: Tue Jun 29 14:47:57 2010
Subject: The government sets out its stall in the emergency Budget

	Tuesday, 29 June 2010 The government sets out its stall in the emergency Budget Welcome to the July 2010 newsletter. In this issue we have features on the emergency Budget – including business reaction to the measures – the current crisis in the eurozone and the new national minimum wage rates. Business welcomes emergency Budget Business groups have given a largely positive response to the emergency Budget. The rise in VAT prompted an air of reluctant acceptance. But many of the other business tax measures introduced by the Chancellor won the backing of various organisations. » read full article The age of austerity The government had been sending out enough pre-Budget signals for its contents, if not its details, to come as little surprise. Some tax rises, yes, but they were to be outnumbered in a ratio of 4 to 1 by spending cuts. Efforts to tackle the structural deficit were going to be determined and uncompromising. » read full article UK employment laws need reform, says CBI The CBI has put forward a series of proposals aimed at changing labour market and employment rules. The employers' organisation said that the reform would help to sustain business growth. The recommendations include extending flexible working, blocking regulations that will cost jobs and changing industrial relations legislation. » read full article Government confirms minimum wage increase The Government has confirmed that the recommended rises in the national minimum wage made by the Low Pay Commission will come into effect in October. The new rates are: £5.93 per hour for low paid workers aged 21 and over, up from £5.80; £4.92 per hour for 18-20 year olds, up from £4.83; and £3.64 per hour for 16-17 year olds, up from £3.57. For the first time there will also be an apprentice minimum wage of £2.50 per hour. The new rate will apply to those apprentices who are under 19 or those that are aged 19 and over but in the first year of their apprenticeship. » read full article Business Features Why the crisis in the euro matters to the UK » Britain may stand outside the euro, but the currency’s fate has implications for our own recovery. Changes to VAT treatment of pay-per-click ads for charities » Charities have recently received good news from HMRC in a change to their policy on the VAT treatment of pay-per-click advertisements. Corporation tax cuts may not be good news for all business investment » As promised, the Chancellor used the emergency Budget to introduce phased reductions in the rate of corporation tax. VAT rise balanced against threat to inflation and retail sales » The UK’s new rate of VAT will bring in much-needed money for the government but may pose problems for domestic spending. For the month ahead Key tax dates Personal Corner Big changes ahead for the retirement age and pensions » The pensions landscape is to undergo significant reforms in the coming years. What the new income tax and NIC measures may mean » The new personal allowances will have an impact for both basic and higher rate income taxpayers. Government to investigate fuel duty stabiliser tax » A stabiliser tax may be introduced to protect petrol costs against fluctuations in oil prices. IR35 could go in business tax review » A wide-ranging review of smaller business taxation will have implications for the IR35 regime. News Round-up » Budget deficit shows signs of improvement » Economic recovery 'on track' but slow » Health and safety regulations to be reviewed » Fall in pay freeze settlements » HMRC reminder on company tax returns Subscription Information To cancel your newsletter subscription click the following link:- Cancel my subscription You may also cancel your subscription or amend your email address by visiting the Newswire Profile page. You will need to be logged in to the site to access your profile. If you have forgotten your username and password these can be supplied to you on the Forgotten Login page. Tait Walker Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3LS
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