Extract
Tax Update - 26 July 2010.
1. General news
1.1. Report on June 2010 Budget The House of Commons Treasury Committee report on the June 2010 Budget is available at: www.publications.parliament.uk/pa/cm201011/cmselect/cmtreasy/350/350.pdf The main conclusion is: "The Chancellor told us that he had built a degree of caution into the fiscal mandate by seeking to achieve it a year early. We welcome this as a signal that if economic conditions demand it he may be prepared to take measures to stimulate the economy, even if these delay the current plans for cutting the deficit." In relation to business aspects, there was a commitment to examine problems faced by SME's in raising credit, a commitment to consider the impact of the proposed bank levy (currently subject to consultation) and other proposed changes in the UK and international regulatory system, and an expression of encouragement for the Chancellor's willingness to reconsider the effect of his proposals in encouraging existing and potential share ownership schemes. 1.2. Autumn Finance Bill: an informal consul...See the full content of this document
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