KPMG UK

9th October

Delivery of Pre-Budget Report and Comprehensive Spending Review


 

12th September

Varney Review - Clearances and rulings

Tax and NICs on Journeys home from work

Consultation closes today


 

14th September

Reform of foreign income rules

Securitisation companies - draft regulations

Consultation closes today


 

15th September

Varney Review - Transfer Pricing

Consultation closes today


 

28th September

Property authorised investment funds

Consultation closes today


 

30th September

Gift Aid

Consultation closes today


 

31st October

Consultation closes:
Expiry of duty derogation for private pleasure flying

Consultation closes:
Expiry of duty derogation for private pleasure boating

 

15th October

Consultation closes:
VAT - possible introduction of general reverse charge

 

19th October

Consultation closes:
Changes to Capital Allowances

Consultation closes:
Insurance Premium Tax

 

18th October

Potential changes to the Intrastat survey

Consultation closes today


 
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Sue Bonney
Partner
Head of Tax & People Services
Sue Bonney KPMG UK

 

Jeremy Brittain
Partner
Chief Operating Officer Tax & People Services
Jeremy Brittain

 

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Pre-Budget Report 2007

Pre Budget Report KPMG UK

Alistair Darling delivered his first Pre-Budget Report and the three-year Comprehensive Spending Review on 9th October. The Chancellor says the credit squeeze will dent activity next year, but is confident that the economy will be back on track in 2009. But KPMG’s Chief Economist Andrew Smith says the Chancellor is ‘crossing his fingers and trusting to luck’. more> Also see his comment in our Issues section here.

KPMG's Pre-Budget Commentary
Sue Bonney KPMG UKPartner Sue Bonney speaks to KPMG in the UK’s industry specialists and addresses your concerns and speculations around key announcements. Please click here to post your question or comment to Sue.

Tuesday, 9th October, 4.26pm
Commenting on today’s announcement of a flat capital gains tax rate of 18 per cent and the abolition of business asset taper relief from April 2008, Anneli Collins, Head of Private Equity Tax feels that PE bosses will indeed now pay the same tax rate as their cleaners. But entrepreneurs who have built up businesses over their lifetimes and were perhaps looking forward to selling up to fund retirement will find that unless they can do it before next April, they will pay eight per cent more tax than they were expecting to. more>  

Tuesday, 9th October, 4.15pm
Tax Director Carolyn Steppler commented on today’s announcement to change the tax treatment of non-domiciled individuals, saying that far from simplifying things, these new proposals appear very complex and will require a number of computations to see which basis of taxation an individual wants to claim under. more>

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Budget proposals and other tax changes are summarised here. The proposals may, however, be amended significantly before enactment. The content of this communication is intended to provide a general guide to the subject matter and should not be regarded as a basis for ascertaining liability to tax or determining investment strategy in specific circumstances. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation.

 

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