Wednesday, March 24, 2010

Tax tweets: Budget 2010

Regular readers will know I'm not a fan of instant Budget analysis. We can pick up on what the Chancellor says, but it takes time to work through the Red Book, Press Notices, Budget notes, supporting docs and draft legislation that are all published after he sits down.

Today, for example, there were 71 Budget Notices alone. I'm happy to leave it to others to rush out their summaries. For the moment then here is a selection of my contributions to the twitter talk during the Budget speech.

Missing from #ukBudget speech: Equalising the rules for tax free expenses as between MPs and all other executives/workers

Missing from #ukBudget speech: New rules to abolish inequitable exemption from tax of MPs' payoffs when they stand down. Limit is £30k for us.

Few smaller and start up biz will really benefit from facility to offset a further £50k of capital exp (AIA) against profits #ukbudget

Official definition of 'small' business is one with a turnover of upto £6.5m. "Fledgling?" #ukbudget

The official definition of SME is one with a turnover of upto £25.9Million. Covers >99% of all UK biz. Targetted help? #ukbudget

All those refs to SMEs - Is he ill-informed or does he really mean the >99% of UK biz that satisfy that official definition? #ukbudget

"Access to finance is vital for small biz" - Very pleased to hear the ref to only those who are "Viable" A critical distinction #ukbudget

Relocation of civil servants out of London - another way to help MPs who lose their seats? => lobby more effectively around UK #ukbudget

Many of the 'higher than expected' tax receipts are due to poor forecasting by Treasury not due to better performance #ukbudget

Extending support for those losing a job especially all those older MPs who will not have to work long hours to benefit (ROFL) #ukbudget

New bank accounts for the financially impoverished - intended to help MPs who lose their seats and can't get 'proper jobs'? #ukbudget

Remember that many tax announcements in #ukbudget today will be simply confirming tax changes announced in Budget09 and in PBR.

No comments:

Post a Comment