9 December 2009
The Chancellor announces his Pre-Budget Report
The Chancellor today announced his expected cautious and fairly benign Pre-Budget report prior to next years election. Several measures have been introduced and built upon but they tend to be more on the house keeping side rather than exciting or newsworthy.
Research and Development Tax Relief has been altered to help small and medium sized businesses and 100% fisrt year allowances have been provided for electric vans. The biggest changes, however, relate to anti-avoidance legislation on both the transfer of 'Latent Capital Allowances' and the closure of two loopholes when leasing plant and machinery.
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