In challenging economic times, the Chancellor needed to announce a confident, stable Budget; one based on sound, practical, economic decisions, rather than vote-winning, short-term, political solutions. So, has he delivered on this? The Budget certainly had a more positive tone than we expected with a strong emphasis on supporting the...
Real estate As expected, a new annual tax is being introduced for high value (£2m+) residential property held by companies and used for owner occupation rather than business purposes. The tax is being accompanied by an extension to the capital gains tax regime, so that owner occupied properties sold for...
Today’s reduction in the headline corporate tax rate to just 20% from 2015 makes the UK corporation tax rate the lowest in the G8 and delivers one single headline rate. This is the fifth time the Chancellor has cut the rate and 20% seems a likely landing point for this...
The Chancellor is sticking to his guns and emphasising Britain is open for business by cutting the corporation tax rate, and reiterating a commitment to ‘building the most competitive business tax system in the world’. Having set low expectations given the limited room for manoeuvre, Budget 2013 was, at least...
The Chancellor introduced the theme of an "aspiration nation" in Budget 2013. How much impact will the measures announced have on reigniting the economy, sparking growth and increasing business confidence? Michael Magee, Advisory Partner, talks through some measures announced by the Chancellor aimed at increasing business confidence, including the 20%...
Mary Monfries, Tax Partner, talks about some of the measures introduced by the Chancellor and what their impact might be on SMEs in the UK. The Chancellor remained resolute in his commitment to supporting British business and entrepreneurs. Introducing a lower corporation tax rate of 20% in April 2015 will...
In order to encourage development of the UK shale gas industry, the Government announced new measures to support shale gas exploration: Alan McCrae, head of UK energy tax, PwC, said: “The details will be a very welcome boost to the shale gas industry and will encourage new investment in an...
Leonie Kerswill, Private Client Tax Partner, talks about the announcements we heard in the Budget and in particular their impact on individuals. A number of measures were introduced by the Chancellor, notably the increase in personal allowance to £10k from 2014 - earlier than expected. Consistency was key with little...
"We've now got more detail on the carbon price floor. Treasury have announced a carbon price support rate - the difference between the price floor and the EU Allowance price - of £18.08 per tonne of carbon dioxide for 2015-16. The trajectory for the price floor was set in 2011...
In this short video, Barry Murphy, PwC Tax Partner, talks about the impact of Budget 2013 on larger businesses and whether George Osborne is continuing to deliver on his commitment to send the message that Britain really is 'open for business'. Measures announced include the early introduction of the 20%...
