Budget analysis on indirect taxes by Ian Carpenter and Sian Beusch
In many ways the Emergency Budget would have been more surprising had it not included a rise to 20% such was the speculation in the run-up to the big day. There only seemed to be two practical questions left to be answered: when will the rise take effect and how long will it last? 4 January 2011 is the answer to the first; the answer to the second was conspicuous by its absence. It would therefore seem that the 20% rate is here to stay at least for the foreseeable future.
The Treasury has predicted that the move will raise £2.85 billion in its first 3 months followed by £12.1 billion in 2011/12 rising to £13.45 billion by 2014/15. The estimates clearly anticipate that consumer spending will rise steadily over the next four fiscal...
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Budget analysis on indirect taxes by Ian Carpenter and Sian Beusch
In many ways the Emergency Budget would have been more surprising had it not included a rise to 20% such was the speculation in the run-up to the big day. There only seemed to be two practical questions left to be answered: when will the rise take effect and how long will it last? 4 January 2011 is the answer to the first; the answer to the second was conspicuous by its absence. It would therefore seem that the 20% rate is here to stay at least for the foreseeable future.
The Treasury has predicted that the move will raise £2.85 billion in its first 3 months followed by £12.1 billion in 2011/12 rising to £13.45 billion by 2014/15. The estimates clearly anticipate that consumer spending will rise steadily over the next four fiscal...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
