The Chancellor of the Exchequer confirmed in a Written Ministerial Statement on 10 March that Budget 2010 will take place on Wednesday 24 March at 12:30pm.

We will be updating our Budget planner following the Chancellor's speech and of course updating the relevant materials on the site thereafter.

Expect new rules for Transactions in Securities - these will also prevent shareholders from using ESC C16 when they are phoenixing.

We know that the new rules on high earners pensions come into play.

Will there be a rise in CGT rates? Time and time again tax advisers ask "Why do private equity  manage to have their income taxed at CGT rates?" This seems at odd with HMRC's Dave Harnett's pledge to crack down on those who try to convert income to capital.

Otherwise, there is an election coming up, so don't expect any other tax rises for now. So that makes one wonder if the Chancellor will go ahead with the planned 1% increase in NICs from 2011/12.

 

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