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Home > > 2008 Budget
12 March 2008 Budget Report
This Report, which was written immediately after Alistair Darling's first Budget as Chancellor of the Exchequer, is intended to provide an overview of the announcements most likely to affect you or your business.
We are here to advise. We can help you to reassess your plans regularly, and adapt them as your personal and business circumstances change. With our advice we can help you plan for a rewarding and financially secure future.
How to make the most of our services
- Please read the Report as soon as possible.
- Visit our tax calendar. It details many of the key dates and deadlines for the coming year.
- Contact us as soon as possible to discuss any action you may be considering, and to review your longer term plans. We always welcome the opportunity to help.
Please note: while most taxation changes take effect from the start of the financial year, or tax year, some may not take effect until 2009, or later. Where relevant, details of these changes have been included in this Report.
The Budget Speech is followed by the publication of Finance Bill 2008 and, in due course, probably around July 2008 the Finance Act 2008 will receive Royal Assent. This will trigger some of the changes that are outlined in our Report.
Our 2008 Budget service includes an easy to navigate report covering most of the personal and business changes. Please review our Report and, where you see announcements that are of interest, do please contact us in order that we may advise you regarding your own particular situation and requirement.
Budget Report
- Budget highlights
- Business taxation
- Business incentives
- Company cars
- Company vans
- Mileage allowances
- Value added tax
- Personal taxation
- Residence and domicile
- National insurance contributions
- Personal savings
- Capital taxes
- Excise duties
- Stamp duties
- Other measures announced
- 2008 Tax and business calendar
Our Latest News
- Increase in risk of a second recession, says think-tank
The chances of the UK economy entering a second recession next year have risen, according to the National Institute for Economic and Social Research (NIESR).
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- UK skills training needs radical overhaul
The British economy could find itself facing a period of decline if the skill levels of the workforce do not show marked improvement, it has been claimed.
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- Compulsory retirement age to be retired
The government is proposing to scrap the default retirement age of 65 by October 2011.
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- Savers not being told about interest rate changes
Many banks and building societies are failing to keep savers properly informed about changes to the interest rates on their accounts, comsumer group Which? has claimed.
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- Self-employment declarations should be respected
With thousands of people predicted to start up their own micro-businesses as unemployment rises, a business group has called on the tax authorities to respect their employment status.
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- Government publishes a raft of tax consultations
The Treasury has issued nine consultation papers on various aspects of the personal and business tax system in what amounts to a far-reaching overhaul of the entire regime.
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- Prospect of rise in energy costs for business
Businesses have been warned that they could see a steep rise in energy costs over the coming years.
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- Banks under pressure to increase small business lending
Banks could face possible tax sanctions if they fail to boost lending to smaller businesses.
- more
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