Budget Summary 23rd March 2011 from PwC

Posted: 23rd March 2011, 2:33pm

Budget 2011

PwC's analysis and views about how the measures could affect you


Against a backdrop of very tough economic conditions, this year's Budget included a wide range of measures which aim to promote growth.

The Chancellor has taken some significant steps towards creating a tax system that is more supportive of business investment and growth. We've had further clarification on matters already under discussion in existing consultations, an additional cut in the main rate of corporation tax, the reintroduction of enterprise zones and changes to investment incentives and entrepreneurs' relief. All will be a boost to support new and growing businesses.

However, contrary to this generally positive direction, there were some unexpected and significant tax rises announced which will impact the oil and gas industry and there were further increases in the bank levy.

George Osborne also announced a number of bold and unexpected moves in areas such as inheritance tax, REITs and investment allowances. And, although it has been widely trailed, the decision to consult on merging the income tax and national insurance systems will be welcomed.

Click on the link below to read our summary of the measures announced and our point of view on how they could affect you and your business in our 2011 Budget summary.

http://www.pwc.co.uk/budget/2011/2011-budget-summary.html

We'll also be holding a live webcast at 3pm on 5 April 2011 to give you an update on the latest developments regarding the corporate tax reform proposals, including our reactions to measures announced in the Budget, the Finance Bill 2011 and what the proposals and changes could mean for your business. Visit http://www.pwcplayer.co.uk/webcasts/0411_corp_tax_webcast/ to view the corporate tax reform webcast.

Barry Murphy
Tax partner
PricewaterhouseCoopers LLP













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