At the heart of every well run business.

THR

Take a look at our summary of changes – they may affect your business.

Louise Highton

Partner, THR

News from THR

Chancellor’s Announcement

May, 2008

Alistair Darling announced changes to the personal tax system to help basic rate taxpayers affected by the abolition of the 10% starting rate of income tax.

Contact Us

Charter House
Pittman Way Preston
Lancashire PR2 9ZD

Telephone 01772 907070
Fax 01772 707114
Email advice@thr.co.uk

Other Matters

9 October 2007 Pre-Budget Report

 

Aviation tax

The Government has announced that it intends from 1 November 2009 to replace Air Passenger Duty (APD) with a tax payable per plane rather than per passenger. The Government will consult with the industry on the detail of this tax.

It was also announced that amendments will be made to the current definitions to determine the class of travel for APD.
The change will remove an anomaly whereby passengers on ‘business class only’ flights are currently liable for reduced rates of APD. The government proposes using seat pitch, more commonly eferred to as leg room, to help determine classification. This measure will take effect for journeys on or after 1 November 2008.

 

Vehicle Excise Duty (VED)

The government has announced inflation only increases on motorcycle VED rates in 2008/09.

VED rates for special types of vehicles, combined transport vehicles and all vehicle categories linked to the basic goods rate will be frozen.

It announced on 1 October 2007 that VED rates for heavy goods vehicles will be frozen in 2008/09. All changes take effect for licences commencing from 1 April 2008.

 

Disclaimer – for information of users
This summary is published for the information of clients. It provides only an overview of the main proposals announced by the Chancellor of the Exchequer in his Pre-Budget Statement, and no action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material contained in this summary can be accepted by the authors or the firm.

Contact THR for further advice

Back to Pre-Budget Report

Registered to carry on audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales