22 June 2010
The Chancellor delivered his first Budget calling it a "Progressive Budget, tough but fair." His target was to reduce the current structural deficit which he intended to do by a mixture of spending cuts and tax rises. Many of these changes had been leaked to the press beforehand, no doubt in an effort to manage expectations.
We have also produced an Emergency Budget Summary with issues concerning charities and the not for profit sector. Please click here to read.
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23 June 2010
The budget again included little specific detail of changes targeted at charities but did include some promising news on the substantial donor legislation. The main points of potential interest are outlined below but by far the biggest and most costly change for many charities will be the increase in the rate of VAT.
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14 May 2010
We hope to keep you updated as the new government provides us with further information. During the election campaign a conspiracy of silence among the main parties surrounded measures required to address the UK’s fiscal deficit.
" href="">UK tax outlook following election 2010